Prohibition on Prepayment or Defeasance of Senior Unsecured Debt Sample Clauses

Prohibition on Prepayment or Defeasance of Senior Unsecured Debt. Section 5.25 of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
Sample 1
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Prohibition on Prepayment or Defeasance of Senior Unsecured Debt. Notwithstanding anything contained in the Credit Agreement to the contrary, no member of the Borrower Consolidation shall, except with the prior written consent of the Requisite Lenders, pay, prepay, purchase, redeem, retire or otherwise acquire for value, or set apart any money for a sinking, defeasance or other analogous fund for, the purchase, redemption, retirement or other acquisition of, or make any voluntary payment or prepayment of the principal of or interest on, or any other amount owing in respect of, the Senior Unsecured Notes or Senior Subordinated Notes or any Subordinated Obligations, except for (i) a refinance of the Senior Unsecured Notes pursuant to an Acceptable Senior Refinancing by October 1, 2009, (ii) regularly scheduled payments of interest in respect of such Senior Unsecured Notes required pursuant to the instruments evidencing such Senior Unsecured Notes and the Senior Unsecured Indenture, (iii) regularly scheduled payments of interest in respect of such Senior Subordinated Notes required pursuant to the instruments evidencing such Senior Subordinated Notes and the Senior Subordinated Indenture to the extent such payments are not blocked or prohibited under the terms of such Senior Subordinated Notes and the Senior Subordinated Indenture, (iv) the principal amount of any Regulatory Redemption required by any Gaming Authority and (v) with respect to any other Subordinated Obligations, payments expressly permitted by the terms of such Subordinated Obligations and the subordination provisions related thereto, in each case, which have been approved by the Requisite Lenders in their sole discretion as contemplated by this Credit Agreement. Notwithstanding anything contained in the Credit Agreement to the contrary, no member of the Borrower Consolidation shall, except with the prior written consent of the Requisite Lenders, supplement, modify, amend, restate, extend or otherwise change the terms of the Senior Unsecured Notes (including any refinancing thereof), the Senior Unsecured Indenture (including any refinancing thereof), the Senior Subordinated Notes, the Senior Subordinated Indenture or any document related thereto or any document, instrument or agreement evidencing or governing or any Subordinated Obligations.
Sample 1

Related to Prohibition on Prepayment or Defeasance of Senior Unsecured Debt

  • Option to Effect Legal Defeasance or Covenant Defeasance; Defeasance The Issuer may, at its option and at any time, elect to have either Section 8.2 or 8.3 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article VIII.

  • DEFEASANCE AND COVENANT DEFEASANCE SECTION 1301.

  • Conditions to Defeasance or Covenant Defeasance The following shall be the conditions to the application of Section 1302 or Section 1303 to any Securities or any series of Securities, as the case may be:

  • Company’s Option to Effect Defeasance or Covenant Defeasance The Company may elect, at its option at any time, to have Section 1302 or Section 1303 applied to any Securities or any series of Securities, as the case may be, designated pursuant to Section 301 as being defeasible pursuant to such Section 1302 or 1303, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301 for such Securities.

  • Option to Effect Defeasance or Covenant Defeasance The Issuer may, at the option of its Board of Directors evidenced by a Board Resolution set forth in an Officer’s Certificate, at any time, elect to have either SECTION 8.2 or 8.3 hereof applied to all outstanding Notes upon compliance with the conditions set forth below in this Article VIII.

  • Issuer’s Option to Effect Defeasance or Covenant Defeasance The Issuer may, at its option and at any time prior to the Stated Maturity of the Notes, by a resolution of its Board of Directors, elect to have either Section 8.02 or Section 8.03 be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article Eight.

  • Option to Effect Legal Defeasance or Covenant Defeasance The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8.

  • Conditions to Legal Defeasance or Covenant Defeasance The following shall be the conditions to the application of either Section 8.02(b) or 8.02(c) hereof to the outstanding Notes:

  • Legal Defeasance of Securities of any Series Unless this Section 8.03 is otherwise specified, pursuant to Section 2.02(s), to be inapplicable to Securities of any Series, the Company shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit referred to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall, at Company Request, execute such instruments reasonably requested by the Company acknowledging the same), except as to:

  • Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance If, pursuant to Section 3.1, provision is made for either or both of (a) Defeasance of the Securities of a series under Section 13.2 or (b) Covenant Defeasance of the Securities of a series under Section 13.3, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article XIII, shall be applicable to the Securities of such series, and the Company may at its option by Board Resolution or in any other manner specified as contemplated by Section 3.1, at any time, with respect to the Securities of such series, elect to have either Section 13.2 (if applicable) or Section 13.3 (if applicable) be applied to the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article XIII.

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