Examples of Defeasance in a sentence
The Agent and the Lenders hereby subordinate for the benefit of each Bilateral Operating Facility Lender, any Security Interests granted pursuant to the Security to any Security Interests granted in favour of such Bilateral Operating Facility Lender in any Bilateral Operating Facility Defeasance Collateral permitted under this Agreement.
Legal Defeasance and Covenant Defeasance may be effected only with respect to all, and not less than all, of the Outstanding Senior Notes of any Series.
The subordination of the Securities of a series provided by this Article Twelve is expressly made subject to the provisions for Defeasance or Covenant Defeasance in Article Fifteen hereof and, anything herein to the contrary notwithstanding, upon the effectiveness of any such Defeasance or Covenant Defeasance, the Securities of such series then outstanding shall thereupon cease to be subordinated pursuant to this Article Twelve.
Legal Defeasance and Covenant Defeasance may be effected only with respect to all, and not less than all, of the Outstanding Subordinated Notes of any Series.