UPC Notes definition
Examples of UPC Notes in a sentence
The waiver will expire on the earlier of (a) 90 days after the date of this letter, (b) the expiration of the time period for the waiver of any default given by the lenders under the Senior Secured Credit Facility; (c) such time as the lenders under the Senior Secured Credit Facility accelerate the indebtedness thereunder, (d) such time as any indebtedness under the UPC Notes is accelerated, and (e) the conversion of the Belmarken Notes into UPC ordinary shares in accordance with the terms hereof.
If Plan Option 2 applies to any UPC Notes, then the excess number of shares of New UPC Common Stock that would have been issued and exchanged under Plan Option 1 for those UPC Notes shall not be issued or exchanged; provided that nothing herein shall prevent New UPC from voluntarily exchanging UPC Notes or other claims subject to Plan Option 2 for consideration equal to the consideration offered to such claim pursuant to Plan Option 1 at any time on or after the Effective Date.
The number of shares of New UPC Common Stock per $1000 of allowed claim that creditors of UPC will receive pursuant to the Akkoord Option will be identical to the number of shares of New UPC Common Stock that holders of UPC Notes will receive in final discharge of their UPC Notes pursuant to Plan Option 2.
Neither the issuance and exchange of the Additional Shares nor the reduction in the number of shares of New UPC Common Stock issued and exchanged for UPC Notes resulting from the application of Plan Option 2 to certain UPC Notes shall affect the number of shares of New UPC Common Stock issued and exchanged for the Belmarken Note, the UPC Notes to which Plan Option 1 applies, or the UPC Preference Shares, UPC Ordinary Shares A, and UPC Priority Shares.
Notes Equity Pool, the UDC Equity Pool, and the UPC Notes Equity Pool, on account of, respectively, such holder’s Subordinated Notes Claim against Unit Corp., UDC, UPC, and the Other Debtors, not to exceed 100% of the Allowed amount of such holder’s Subordinated Notes Claim.
The shares of New UPC Common Stock offered in respect of the outstanding UPC Notes are referred to as the "Notes Consideration" in respect of such series of UPC Notes.
The offer to exchange shares of New UPC Common Stock for the Belmarken Notes, the UPC Notes, the claims of the Other Creditors, the UPC Preference Shares A, the UPC Ordinary Shares A and the UPC Priority Shares will be included in the Prospectus.
The parties agree to promptly work with their advisors to determine an optimal tax structure and establish the relative economic terms to be proposed to holders of UPC Notes and the UPC Preference Shares in the restructuring transaction.
The members of the UGC Group are the lawful owners, beneficially and of record, of the Belmarken Notes, UPC Notes, UPC Preference Shares A, UPC Priority Shares and UPC Ordinary Shares A and other claims against, or interests in, UPC set forth on Annex H, free and clear of all Liens.
Holders of UPC Notes will be given the opportunity to exchange the UPC Notes for UPC ordinary shares in proportions to be established by the parties and through negotiation with holders of UPC Notes.