Repurchase of Senior Notes. Section 7.7(a) of the Loan Agreement is amended by adding the following clause (iii): “, or (iii) the repurchase of the Senior Notes in accordance with and pursuant to an Excess Cash Flow Offer, or”.
Repurchase of Senior Notes. Anything elsewhere contained in the Loan Agreement (including, without limitation, Section 7.7(a) thereof) to the contrary notwithstanding, the Borrowers shall be permitted to repurchase the Senior Notes at a price equal to 101% of the principal amount thereof plus accrued interest on the Senior Notes to the date of repurchase, in the event that the transactions contemplated by the High Yield Offering (including the release to the Borrowers of the funds in the High Yield Note Account upon satisfaction of the conditions applicable thereto) are not consummated for any reason and the Borrowers become obligated to repurchase the Senior Notes in accordance with the terms of the High Yield Offer; provided, however, that the Borrowers acknowledge that the repurchase of the Senior Notes will constitute a failure to satisfy the conditions set forth in Section 3.3 of the Loan Agreement and that Lender, at its option, may terminate the Loan Agreement in the event that the Borrowers become obligated to repurchase the Senior Notes.
Repurchase of Senior Notes. Not less than 65% of the outstanding Senior Notes shall have tendered into the Senior Notes Offer and shall have been repurchased by the -40- 45 Company and the Company shall have deposited in trust for the benefit of the holders of Senior Notes an amount of cash and/or U.S. Treasury securities to be sufficient, as of October 1, 1998, to pay and discharge all amounts outstanding, accrued or payable (including all principal, interest, premiums and penalties) as of the Effective Date in respect of all of the Senior Notes not theretofore tendered to and repurchased by the Company in connection with the Senior Notes Offer.
Repurchase of Senior Notes. Operating agrees to repay all amounts outstanding under the Bridge Agreement, the O&M Credit Facility and any other Credit Facility that has the benefit of a Guarantee, including, without limitation, the portion of the Permanent Bank Facility guaranteed by the Alternative Guarantee if the Alternate Guarantee is in effect thereon, and to terminate the commitments thereunder prior to or simultaneously with any redemption of any Senior Notes pursuant to any optional redemption provisions of any Senior Notes. In the event that Operating is required to purchase any Senior Notes as a result of a "change of control" as defined in the Offering Memorandum (other than a "change of control" triggered by a change in Motorola's ownership of Iridium), Operating agrees to repay the Bridge Agreement, the O&M Credit Facility, any other Credit Facility that has the benefit of a Guarantee, including without limitation, the portion of the Permanent Bank Facility guaranteed by the Alternative Guarantee and any other Motorola Exposure pro rata with such purchase of Senior Notes or, if Operating is unable or unwilling to do so, Operating hereby waives its right to pay Motorola High Yield Compensation pursuant to Section 3 of the Agreement Regarding Guarantee, as amended, until it does so.
Repurchase of Senior Notes. Iridium agrees to repay all amounts outstanding under the Bridge Agreement and to terminate the Commitments thereunder prior to or simultaneously with any redemption of any Senior Notes pursuant to any optional redemption provisions thereof. In the event that Iridium is required to purchase any Senior Notes as a result of a "change of control" as defined in the Offering Memorandum (other than a "change of control" triggered by a change in Motorola's ownership of Iridium), Iridium agrees to repay the Bridge Agreement (and any other Motorola Exposure (as defined below)) pro rata with such purchase or, if Iridium is unable or unwilling to do so, Iridium hereby waives its right to pay Motorola high yield compensation pursuant to Section 2(e) of the Agreement Regarding Guarantee, as amended, until it does so.
Repurchase of Senior Notes. (a) Neither any Consolidated Subsidiary or Affiliate of the Company, directly or indirectly, may repurchase or make any offer to repurchase any Senior Notes.
(b) The Company may not, directly or indirectly, repurchase or make any offer to repurchase any (a) Senior Notes (excluding Series CMW Senior Notes) unless an offer has been made to repurchase Senior Notes (excluding Series CMW Senior Notes), pro rata, from all holders of the Senior Notes (excluding Series CMW Senior Notes) at the same time and upon the same terms or (b) Series CMW Senior Notes unless (i) all other Senior Notes other than Series CMW Senior Notes have been prepaid in full and (ii) an offer has been made to repurchase Series CMW Senior Notes, pro rata, from all holders of the Series CMW Senior Notes at the same time and upon the same terms. The Company will promptly cancel all Senior Notes acquired by it pursuant to any payment or prepayment of Senior Notes pursuant to any provision of this Agreement and no Senior Notes may be issued in substitution or exchange for any such Senior Notes. Without limiting the foregoing, upon the repurchase or other acquisition of any Senior Notes by the Company such Senior Notes shall no longer be outstanding for purposes of any section of this Agreement relating to the taking by the holders of the Senior Notes of any actions with respect hereto, including without limitation, Section 14.3, Section 14.4 and Section 17.1.
Repurchase of Senior Notes. On or prior to the Closing Date the Borrower shall have delivered to the Administrative Agent satisfactory evidence that, substantially concurrently with the Closing Date, $16,500,000 aggregate principal amount of the Senior Notes have been or will be repurchased by the Borrower in cash in accordance with the terms of the Senior Note Repurchase Agreement.
Repurchase of Senior Notes. Operating agrees to repay all amounts outstanding under the Bridge Agreement and to terminate the Commitments thereunder prior to or simultaneously with any redemption of any Senior Notes pursuant to any optional redemption provisions thereof. In the event that Operating is required to purchase any Senior Notes as a result of a "change of control" as defined in the Offering Memorandum (other than a "change of control" triggered by a change in Motorola's ownership of Iridium), Operating agrees to repay the Bridge Agreement (and any other Motorola Exposure (as defined below)) pro rata with such purchase or, if Operating is unable or unwilling to do so, Operating hereby waives its right to pay Motorola High Yield Compensation pursuant to Section 3(e) of the Agreement Regarding Guarantee, as amended, until it does so.
