Defeasance and Discharge definition

Defeasance and Discharge. Provisions: Customary for high yield debt securities consistent with the Propco Second Lien Notes Documentation Principles. Modification: Customary for high yield debt securities consistent with the Propco Second Lien Notes Documentation Principles. Notes held by the Issuer or its affiliates, including the Sponsors, shall not have voting rights. Registration Rights: Customary registration rights.
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Defeasance and Discharge. Provisions: Consistent with the Existing Subordinated Notes. Modification: Consistent with the Existing Subordinated Notes.
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Defeasance and Discharge. Provisions: Customary for similar high yield debt securities. Modification: Customary for similar high yield debt securities.
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Examples of Defeasance and Discharge in a sentence

  • Defeasance and Discharge Provisions: Customary for high yield debt securities consistent with the Documentation Precedent.

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  • The Issuer (hereafter in this Article VIII, the “Defeasor”) may, at its option at any time, with respect to the Notes, elect to have either Section 8.2 (Legal Defeasance and Discharge) or 8.3 (Covenant Defeasance) be applied to all outstanding Notes and all obligations of the Guarantors with respect to the Guarantees upon compliance with the conditions set forth below in this Article VIII.

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