Common use of Cancellation of Super Senior RCF Clause in Contracts

Cancellation of Super Senior RCF. To the extent the Issuer purchases or redeems Senior Notes (or otherwise makes an offer to do so) whereby the aggregate of the outstanding nominal amount of the Senior Notes falls below fifty (50) per cent. of the aggregate of the initial nominal amount of the Senior Notes, the Super Senior RCF Debt shall, if requested by the Super Senior RCF Creditors, be repaid and the commitments cancelled pro rata to the amount by which the outstanding nominal amount of the Senior Notes falls below the aggregate initial nominal amount of the Notes. For the purpose of calculating the aggregate nominal amount of Senior Notes under this Clause 11.5, any Senior Notes held by the any Group Company shall not be included.

Appears in 2 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement

AutoNDA by SimpleDocs

Cancellation of Super Senior RCF. To the extent the Issuer purchases or redeems Senior Notes (or otherwise makes an offer to do so) whereby the aggregate of the outstanding nominal amount of the Senior Notes falls below fifty (50) per cent. of the aggregate of the initial nominal amount of the Senior Notes, the Super Senior RCF Debt shall, if requested by the Super Senior RCF Creditors, be repaid and the commitments cancelled pro rata to the amount by which the outstanding nominal amount of the Senior Notes falls below the aggregate initial nominal amount of the Senior Notes. For the purpose of calculating the aggregate nominal amount of Senior Notes under this Clause 11.5Notes, any Senior Notes held by the any Group Company shall not be included.

Appears in 2 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!