USPP definition
Examples of USPP in a sentence
Each Participating Creditor will be regarded, for the purposes of this Agreement, as acting in a different capacity in respect of its Exposure under each Facility in which it has an Exposure and may (in the case of a Participating Creditor other than a USPP Noteholder), for the avoidance of doubt, have a different Facility Office in each such capacity.
The Parent and each USPP Noteholder confirms that the USPP Note Agreement contains provisions that have the same substantive effect as Clauses 8.1 (Waiver of certain existing defaults) and 8.2 (Replacement and / or deletion of specific provisions) above (to the extent applicable).
The Security Sharing Agreement will apply from the date of signature through to the Security Discharge Date as regards the Security except that it will cease to apply to Non-Shared Security after the Term Date (unless a default under the SCA is outstanding at such date) or if all obligations in respect of the USPP have not been unconditionally paid or discharged in full.
Notwithstanding the foregoing and with exceptions to be agreed, the Security shall not be released except to the extent that all obligations in respect of the USPP have been unconditionally paid or discharged in full.
The USPP Noteholders shall not be parties to, but may have the benefit of, the provisions of the Security Sharing Agreement.
Each Party (other than the USPP Noteholders) agrees and acknowledges that FTI Consulting Canada, ULC has provided the FTI Report and is otherwise acting on the terms of its engagement letter dated 6 April 2009 with, among others, the Parent and certain of the Co-ordinating Committee Banks and shall have no liability whatsoever save to the extent expressly contemplated in that engagement letter and the form of any accompanying reliance letter(s) (whether or not such reliance letter has been signed.
The Parent confirms (and each USPP Noteholder acknowledges) that all existing notes held by the USPP Noteholders have, as at the Effective Date, been replaced by new USPP Notes issued under the USPP Note Agreement with a stated maturity of 14 February 2014, with the USPP Note Agreement comprising an “Existing Finance Document” for all purposes hereunder.
For the avoidance of doubt, the prior written consent of the Majority Secured Creditors is not required by the USPP Noteholders to claim on or enforce the Rhodia Inc.
The current provisions of the Uniform Services Pension Plan (USPP) are integrated with the old CPP provisions.
The Security Trustee may acting on the direction of the Instructing Banks and the Instructing USPP Noteholders determine the remuneration of any Receiver and direct payment of that remuneration out of moneys he receives as Receiver.