Tranche B Warrants definition

Tranche B Warrants means warrants to purchase up to 5% of the New Common Shares (subject to dilution only by the New Common Shares issued in connection with the MIP Equity and the New Common Shares issued in connection with the Backstop Commitment Premium), exercisable on a non-cash basis for a five-year period after the Effective Date, struck at an equity value implying 125% recovery to Holders of Senior Notes Claims on the face value of their Senior Notes Claims, inclusive of non-default interest under the Senior Notes through the Effective Date, calculated as though the Senior Notes remained outstanding through the Effective Date and all accrued and unpaid interest had been added to the outstanding principal amount of the Senior Notes daily, and otherwise on the terms and conditions set forth in the Tranche B Warrants Agreement.

Tranche B Warrants means the warrants and any replacement warrants in the face value of US$1,650,000 to be issued by the Company to the Investor on the Closing Date in the form attached hereto as Exhibit C.

Tranche B Warrants means the 51,272,592 Warrants represented by the Tranche B Common Share Purchase Warrant dated November 1, 2018 issued by the Company to CBG, as the same may be amended or amended and restated from time to time (including, for the avoidance of doubt, amendments, if any, of such Tranche B Warrants into a tranche B amended and restated common share purchase warrant and a tranche C common share purchase warrant, in which case this term shall include such tranche B amended and restated common share purchase warrant and such tranche C common share purchase warrant).

Examples of Tranche B Warrants in a sentence

• In this instance, an Irish Holder of Second Lien Debt Claims will have a tax basis in Class B Shares, Tranche A Warrants and Tranche B Warrants received in satisfaction of its Second Lien Debt Claims equal to the fair market value of such interests and rights.

• Holders of Second Lien Debt Claims Pursuant to the Plan, Holders of Second Lien Debt Claims will receive Newco Equity, Tranche A Warrants and Tranche B Warrants in complete and final satisfaction of their Second Lien Debt Claims.

• Unless otherwise indicated, this discussion assumes that all First Lien Debt Claims, Second Lien Debt Claims, Newco Equity, New Second Out Term Loans, Tranche A Warrants and Tranche B Warrants are held as “capital assets” (generally, property held for investment) within the meaning of Section 1221 of the Tax Code and that the various debt and other arrangements to which the Debtors are a party will be respected for U.S. federal income tax purposes in accordance with their respective forms.

• Accordingly, Holders are urged to consult their own tax advisors with respect to the tax consequences of making a cashless exercise of the Tranche A Warrants or Tranche B Warrants.

• If so treated, each Irish Holder of Second Lien Debt Claims generally will recognize a gain or loss upon the exchange of its Second Lien Debt Claims for Class B Shares and Tranche A Warrants and Tranche B Warrants.

More Definitions of Tranche B Warrants

Tranche B Warrants means the 38,454,444 Common Share purchase warrants represented by the tranche B amended and restated warrant certificate issued by the Company to the Holder on the date hereof.

Tranche B Warrants means warrants to purchase 30,700,000 shares of Common Stock at an exercise price of $1.43 per share.

Tranche B Warrants means the warrants (bons de souscription d'actions) to be issued by the Borrower and subscribed by the Bank in the context of the disbursement of Tranche B and entitling the Bank to subscribe shares of the Borrower, as further defined in the Warrant Agreement.

Tranche B Warrants means the 51,272,592 common share purchase warrants issued by Canopy to CBG represented by the Tranche B common share purchase warrant dated November 1, 2018 issued by Canopy to CBG.

Tranche B Warrants means Warrants with an aggregate warrant coverage equal to One Million One Hundred Thousand Dollars ($1,100,000.00) to be issued on the Funding Date of the Term B Loan with respect to the aggregate commitment amount for the Term B Loan.

Tranche B Warrants means the Warrants designated as “Tranche B common share purchase warrants”.

Tranche B Warrants and, together with the Tranche A Warrants, the “Warrants”) and (c) 16,714,286 shares of the Company’s Common Stock (the “Tranche B Shares”); and”