Senior Notes Claims Sample Clauses

Senior Notes Claims. Pursuant to the Plan, each holder of Senior Notes Claims on the Record Date will have the right (but not the obligation) to subscribe for its pro rata portion of the New Convertible Bonds offered in the rights offering made to holders of Senior Notes Claims on the Record Date (the “Rights Offering”) at the Purchase Price. The “Purchase Price” for the New Convertible Bonds shall equal 100% of the principal amount of the New Convertible Bonds being purchased. Only holders of Senior Notes Claims that are Eligible Holders will be permitted to acquire the New Convertible Bonds in the Rights Offering. Eligible Holders must deliver their Beneficial Holder Subscription Forms (with accompanying IRS Form W-9 or appropriate IRS Form W-8, if applicable) to the Subscription Agent. All Beneficial Holder Subscription Forms (with accompanying IRS Form W-9 or appropriate IRS Form W-8, if applicable) and appropriate funding to the Subscription Agent must be delivered to the Subscription Agent prior to the Subscription Instruction and Payment Deadline. No Eligible Holder shall be entitled to participate in the Rights Offering unless the aggregate Purchase Price for the New Convertible Bonds it subscribes for is received by the Subscription Agent by the Subscription Instruction and Payment Deadline. Only Eligible Holders who do not “opt out” of being a Releasing Party may participate in the Rights Offering. No interest is payable on any advanced funding of the Purchase Price. If the Rights Offering is terminated for any reason, the aggregate Purchase Price previously received by the Subscription Agent will be returned to Eligible Holders as provided in Section 7 hereof. No interest will be paid on any returned Purchase Price. To participate in the Rights Offering, an Eligible Holder must complete all of the steps outlined below. If an Eligible Holder does not complete all of the steps outlined below by the Holder Questionnaire Deadline, the Subscription Instruction and Payment Deadline, or the Plan Effective Date, as applicable, such Eligible Holder shall be deemed to have forever and irrevocably relinquished and waived its right to participate in the Rights Offering.

Senior Notes Claims. On the Sale Transaction Effective Date, in full satisfaction and release of each Senior Noteholder’s pro rata share of the Credit Bid Amount, the Senior Noteholders shall receive their pro rata share of 100% of the New Equity Interests (subject to dilution by the MIP and the Equity Premiums). § The Senior Notes Remaining Amount shall remain outstanding Senior Note Obligations against each of the Senior Note Obligors, and shall be entitled, on the applicable closing date, effective date or judicial approval date (as applicable) (each, a “Liquidation Proceeding Effective Date”), to the distribution (in accordance with and subject to the Priority Waterfall) of the net cash proceeds (if any) resulting from (a) the monetization, disposition, sale or liquidation of the Excluded Assets owned by the Company Parties pursuant to the CCAA Proceeding and the U.S. Liquidation Proceedings (as applicable), and (b) the Non-Core Divestiture Transactions, until such Senior Notes Remaining Amount is paid in full in cash.3 § “Priority Waterfall” refers to the distribution of net cash proceeds resulting from the monetization, disposition, sale or liquidation of the Excluded Assets owned by the Company Parties pursuant to the CCAA Proceeding and the U.S. Liquidation Proceeding in accordance with applicable law, following the prior payment in full of all Claims and obligations that are senior in priority (after taking into account lien priority, payment priority, structural subordination and contractual subordination, including any Existing Subordination Agreements for the benefit of the Senior Notes, which the Company acknowledges and agrees remain in full force and effect).

Senior Notes Claims. The Senior Notes Claims shall be allowed against each of the Debtors in the principal amount of approximately $167.27 million, plus all accrued but unpaid interest and all other fees, expenses, and amounts due thereunder or under the Senior Notes Indenture as of the Petition Date.

Senior Notes Claims. The Plan shall allow the Senior Notes Claims in full. On the Plan Effective Date, each holder of a Senior Notes Claim will receive, in full and final satisfaction of such Senior Notes Claim: (i) its pro rata share of the Noteholder New Equity Interests; (ii) its pro rata share of the Noteholder Warrants; and (iii) the right to participate in the Noteholder New Common Equity Investment. Impaired –

Senior Notes Claims. On the Effective Date of the Plan, the Senior Notes Claims will be released and extinguished and each holder of an Allowed Senior Notes Claim will receive, in full and final satisfaction of such Allowed Senior Notes Claim: (a) if the Combination Transaction is pursued, its Pro Rata share of 97% of (i) New Common Shares issued pursuant to the Plan on the Effective Date (the “Equity Allocation”) pro forma for the Combination Transaction and/or (ii) cash proceeds from the Combination Transaction (the “Alternative Allocation”); or (b) if the Stand-Alone Restructuring is pursued, its Pro Rata share of (i) 97% of the Equity Allocation, and (ii) subscription rights for 97% of the Equity Rights Offering. Impaired; Entitled to Vote.

Senior Notes Claims. Unless a holder of an allowed Senior Notes Claim (as defined below) agrees to a lesser treatment, on or as soon as reasonably practicable following the Effective Date, each holder of an allowed Senior Notes Claim will receive, in full and final satisfaction, compromise, settlement, release, and discharge of and in exchange for such allowed Senior Notes Claim, its pro rata share and interest (calculated based on the aggregate amount of allowed Senior Notes Claims and allowed General Unsecured Claims, in each case, as defined below) in 16.5% of the Reorganized Common Equity, subject to dilution on account of the Post-Emergence Equity Incentive Program (as defined below) (the “Unsecured Equity Recovery Pool”). As used in this Term Sheet, “Senior Notes Claims” means all claims (as defined in section 101(5) of the Bankruptcy Code) against the Company arising under, relating to, or in connection with the Company’s 7.75% Senior Notes due 2019 (the “Senior Notes”) issued pursuant to that certain Indenture, dated as of May 13, 2011, by and between the Company, the guarantors named therein, and U.S. Bank National Association, as trustee, transfer agent, registrar, authentication agent, and paying agent (as amended, restated, supplemented, or otherwise modified from time to time, the “Senior Notes Indenture”). As of the date hereof, the total outstanding principal amount of the Company’s obligations under the Senior Notes Indenture is $610 million.

Senior Notes Claims. Except to the extent that a holder of a Senior Notes Claim agrees to a less favorable treatment, in full and final satisfaction, settlement, release, and discharge of and in exchange for each Senior Notes Claim, each holder thereof shall receive: (a) if holders of at least 66 2/3% in amount of all Senior Notes Claims execute the Coordination Agreement, payment in full in cash on the Effective Date of all outstanding principal and accrued interest under the Secured Notes at the contractual non-default rate to the Petition Date; or (b) if holders of at least 66 2/3% in amount of all Senior Notes Claims do not execute the Coordination Agreement, at the option of the Plan Sponsors (i) reinstatement of its Senior Notes Claim or (ii) such other treatment rendering its Senior Notes Claim unimpaired in accordance with section 1124 of the Bankruptcy Code. Unimpaired / Deemed to Accept

Senior Notes Claims. $625,005,000 Allowed Claim On the Effective Date, each holder of an Allowed Senior Notes Claim will receive, in full and final satisfaction of such Allowed Senior Notes Claim, its Pro Rata share of (i) 91% of the total New Common Shares issued pursuant to the Plan on the Effective Date, subject to dilution by the Rights Offering Equity, the Warrant Equity, the MIP Equity, and the New Common Shares issued pursuant to the Backstop Commitment Premium, and (ii) the right to participate in the Senior Noteholder Rights Offering. Impaired —