Unsecured Exchange Notes definition
Examples of Unsecured Exchange Notes in a sentence
The Unsecured Exchange Notes may be redeemed, in whole or in part, at the option of the Borrower, at any time (except as provided below) upon 3 days’ prior written notice at par plus accrued interest to the date of repayment plus the Applicable Premium.
At a Lender’s option, Unsecured Exchange Notes will be issued directly to its broker-dealer affiliate or other third party designated by it, upon surrender by the Lender to the Borrower of an equal principal amount of Unsecured Bridge Loans.
The Borrower, in its capacity as the issuer of the Senior Unsecured Exchange Notes, is referred to as the “Issuer”.
Thereafter, each such Senior Unsecured Exchange Note may be redeemed, in whole or in part, at the option of the Issuer at a price equal to 100% of the aggregate principal amount redeemed plus accrued and unpaid interest, if any, plus a premium equal to one-half of the coupon on such Senior Unsecured Exchange Notes, with such premium declining ratably to zero on the date that is three years prior to the maturity date of such Senior Unsecured Exchange Notes.
The 2022 Unsecured Exchange Notes will be available only in exchange for the 2022 Extended Term Loans on or after the applicable Unsecured Extension Date.
At any time on or after the first anniversary of the Closing Date, upon not less than five business days’ prior notice, Unsecured Bridge Loans may, at the option of a Lender, be exchanged for a principal amount of the applicable Unsecured Exchange Notes equal to 100% of the aggregate principal amount of the Unsecured Bridge Loans so exchanged.
Nothing in these mandatory prepayment provisions will restrict or prevent any holder of Unsecured Bridge Loans from exchanging Unsecured Bridge Loans for Unsecured Exchange Notes on or after the first anniversary of the Unsecured Bridge Closing Date.
The 2024 Unsecured Exchange Notes will mature on the date that is ten years after the Closing Date.
The Senior Unsecured Exchange Notes will mature on the date that is eight years after the Closing Date.
In the case of Unsecured Exchange Notes held by an Initial Lender under the applicable Unsecured Bridge Facilities or any affiliate of any Initial Lender (other than an Asset Management Affiliate and Unsecured Exchange Notes acquired pursuant to bona fide open market purchases from third parties or market-making activities), the Issuer may redeem such Unsecured Exchange Notes in whole or in part at par plus accrued and unpaid interest at any time after the issuance thereof.