Common use of Prepayment of Holding Notes Clause in Contracts

Prepayment of Holding Notes. Holding and KIA IV covenant and agree to discuss the future application of the dividend received by Holding, including the possible application of all or a portion of such amount to the prepayment of a portion of the Holding Notes and/or the payment of accrued interest on the Holding Notes. Notwithstanding the foregoing, the application of such dividend will be in accordance with the terms of the Restructuring Agreement, as amended, unless KIA IV consents in writing to a different application.

Prepayment of Holding Notes. Holding and KIA IV covenant and agree to discuss the future application of the dividend received by Holding, including the possible application of all or a portion of such amount to the prepayment of a portion of the Holding New Notes and/or the payment of accrued interest on or the Holding New Notes. Notwithstanding the foregoing, the application of such dividend will be in accordance with the terms of the Restructuring Agreement, as amended, Agreement unless KIA IV consents in writing to a different application.