Examples of Contingent Interest Notes in a sentence
Subject to possible tax restrictions, some of the Loans may utilize Shared Appreciation Mortgages ("SAMs," also known as Contingent Interest Notes) in order to secure an equity position in the underlying collateral.
CI Notes means the 8.00% Contingent Interest Notes Due June 30, 2006, as amended, supplemented or otherwise modified from time to time, issued on December 1, 1995 by Piedmont Management Company, Inc., predecessor-in-interest to Chartwell Re Corporation, predecessor-in-interest to TGI, and assumed by the Debtor in August 2000.
Trenwick shall have received the opinion of LeBoeuf, Lamb, Xxxxxx & XxxXxx, L.L.P., in the form set forth as Exhibit 6.2(g) hereto, to the effect that the Merger will not constitute a "change of control" as defined in the Contingent Interest Notes Indenture.
Assuming the conditions set forth in Section 3.1(d) of the Chartwell Disclosure Schedule are met, the Merger and the other transactions contemplated hereby will not constitute a "change of control" under the Contingent Interest Notes due June 30, 2006 or the Indenture dated as of December 1, 1995 (the "Contingent Interest Notes Indenture") between Chartwell, as the successor to Piedmont Management Company Inc.
Subject to possible tax restrictions, some of the Loans utilize Shared Appreciation Mortgages ("SAMs," also known as Contingent Interest Notes) in order to secure an equity position in the underlying collateral.
How the Notes WorkPayments in Connection with the First and Second Review DatesPayments in Connection with Review Dates (Other than the First, Second and Final Review Dates)Payment at Maturity If the Notes Have Not Been Automatically CalledPS-2 | Structured Investments Auto Callable Contingent Interest Notes Linked to the Common Stock of Amazon.com, Inc.
Settlement of the Contingent Interest Notes may be made by payment of cash or, under certain specified conditions, by delivery of shares of Trenwick's common stock.
In 1999, TGI acquired Chartwell Re Corporation ("Chartwell") and became the successor obligor under Chartwell's Contingent Interest Notes due June 30, 2006 (the "CI Notes").
Each of the Contingent Interest Notes provides that contingent interest on such Contingent Interest Note shall be deferred, and shall not be paid, unless the Release Condition has been satisfied.
In addition, the Contingent Interest Notes entitle their holders to receive at maturity, in proportion to the principal amount of the Contingent Interest Notes held by them, an aggregate of from $10 million up to $55 million in contingent interest.