Senior Note. Great Lakes currently is obligated to RACC under a Senior Note dated March 23, 2007 (the “Senior Note”) that is secured by four (4) Aircraft Security Agreements, (the “Embraer Security Agreements” and, collectively with the Senior Note, the “Senior Note Documents”), each of which relates to an Embraer Model EMB-120ER aircraft. Great Lakes acknowledges its obligations under the Senior Note Documents and hereby confirms and ratifies each of its obligations under the Senior Note Documents. Except for such confirmation and ratification and the provisions of Sections 2 and 4 of this Agreement, this Agreement does not affect the Senior Note Documents in any way, each of which shall remain in full force and effect.
Senior Note. Each of the Existing Senior Note and the Existing Subordinated Note and all amounts owing thereunder as of the Effective Date shall be restructured in their entirety by the issuance of a single promissory note executed by Great Lakes payable to RACC (the “Senior Note”), the form of which is attached hereto as Exhibit C. The interest rate on the Senior Note shall be seven percent (7.00%) per annum. Interest on the Senior Note shall be payable monthly in arrears on the last day of each month commencing on March 31, 2007. Commencing with the calendar quarter ending on June 30, 2007, the Senior Note shall provide for quarterly payments of principal as set forth on Schedule 2 hereto with a final maturity on December 31, 2015. The amount of each quarterly principal payment shall be adjusted to fully amortize the remaining principal balance over the remaining amortization period after the application of any payments pursuant to Section 6(C) of this Agreement, if any.
Senior Note. This Senior Note is one of a duly authorized issue of Senior Notes of the Company (herein called the "Senior Notes"), issuable in series, unlimited in aggregate principal amount except as may be otherwise provided in respect of the Senior Notes of a particular series, issued and to be issued under and pursuant to an Indenture dated as of September 1, 1998 (herein called the "Indenture"), duly executed and delivered by the Company, Household International, Inc., a Delaware corporation (the "Guarantor"), and The First National Bank of Chicago, as Trustee, and is one of a series designated as % Senior Notes due (herein called the " % Senior Notes"), [Insert, as applicable-- unlimited in aggregate principal amount--or--limited in aggregate principal amount to $ .] Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company, the Guarantor and the Holders. [AT THE COMPANY'S OPTION, ADDITIONAL PROVISIONS APPLICABLE TO INTEREST RATE MAY BE INSERTED HERE] [If applicable, insert--The Senior Notes of this series are subject to redemption upon not less than 30 days' notice by mail, [if applicable, insert--(1) on in any year commencing with the year and ending with the year through operation of the sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2)] at any time [on or after , 19 ], as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal amount): If redeemed [on or before , %, and if redeemed] during the 12-month period beginning of the years indicated, Redemption Redemption Year Price Year Price ---- ---------- ---- ----------
Senior Note. Claims Each holder of an allowed Senior Note Claim shall receive (a) its pro rata share of 97% of the ownership interests in reorganized VNR Finance Corp. (the “New Equity Interests”), subject to dilution by the Senior Note Rights Offering, 2L Investment, the GUC Rights Offering, distributions from the GUC Equity Pool, the Backstop Fee, andNew Equity Interests issuable upon exercise of the new warrants by Preferred Equity and Common Equity (the “Warrant Equity”), the Management Incentive Plan, and New Equity Interests issued to Encana, as set forth herein (following dilution by the Senior Note Rights Offering, the 2L Investment, GUC Equity Pool (assuming that the GUC Equity Pool is fully utilized) and Backstop Fee (but prior to dilution by the GUC Rights Offering, Warrant Equity, the New Equity Interests issued to Encana, and the Management Incentive Plan) such interests will equal 34.73.4% of the New Equity Interests) and (b) the opportunity to participate in the Senior Note Rights Offering.
Senior Note the [Multifamily Note] delivered by Borrower to Senior Lender evidencing the Senior Loan, in the maximum amount of $[ ], accruing at an interest rate not exceeding [ ] percent ([ ]%), amortized over thirty (30) years, with a maturity date of [ ].
Senior Note. The Senior Loan shall be evidenced by the Senior ----------- Note. The date and amount of each payment made on account of the principal of the Senior Loan, and interest thereon, shall be recorded by Lender on its books and records, which books and records shall constitute prima facie evidence of the accuracy of the information contained therein, but the failure of Lender to make any such notation shall not affect the obligations of Borrower hereunder or under the Senior Note.
Senior Note. The Borrower shall have delivered to the Lender the ----------- Senior Note, in form and substance satisfactory to the Lender in its sole and absolute discretion, duly executed by the Borrower.
Senior Note. The Company shall not issue any new indebtedness which is senior in rank to the Senior Note while the Senior Note is outstanding.
Senior Note. (a) The Borrower has also informed the Administrative Agent that in light of the pending spring redetermination of the Borrowing Base it is requesting that the Borrowing Base not be reduced pursuant to Section 2.07(g) upon the issuance of Senior Notes to consummate the Asset Acquisition and/or repay the Asset Acquisition Bridge Loan, if any (the “Asset Acquisition Senior Notes”), except to the extent (and only to the extent) the principal amount of such Asset Acquisition Senior Notes exceeds $700,000,000.
(b) All of the Lenders hereby consent to waiving the provisions of Section 2.07(g) with regard to the reduction of the Borrowing Base for the issuance of the Asset Acquisition Senior Notes, except to the extent (and only to the extent) that the principal amount of such Asset Acquisition Senior Notes exceeds $700,000,000, provided that the conditions precedent in Section 6 of this Sixth Amendment are met.
