Defeasance and Discharge Provisions definition

Defeasance and Discharge Provisions. Customary for high yield debt securities consistent with the Documentation Precedent. Modification: Customary for high yield debt securities consistent with the Documentation Precedent. Notes held by the Issuer or its affiliates, including the Sponsors, shall not have voting rights. Registration Rights: Customary registration rights. Covenants: Substantially the same as those in the Documentation Precedent (including in respect of baskets and carveouts to such covenants); provided, that such covenants shall in no event be more restrictive than the corresponding covenant in the First Lien Notes (including, without limitation, with respect to the Mandatory REIT Distributions). For the avoidance of doubt, there shall be no financial maintenance covenants. [CPLV Sub] shall constitute an unrestricted subsidiary of the Issuer on the Closing Date. The indenture for the Second Lien Notes will provide that any management or similar fees paid to Caesars Entertainment Corporation or any of its subsidiaries or affiliates will be made on an arm’s-length basis and on “market” terms (including caps on amounts and consent rights relating to modifications of applicable agreements relating thereto).
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Defeasance and Discharge Provisions. Customary for high yield debt securities consistent with the Documentation Precedent. Modification: Customary for high yield debt securities consistent with the Documentation Precedent. Notes held by the Issuer and its affiliates, including the Sponsors, shall not have voting rights. Registration Rights: Customary registration rights. Covenants: Substantially the same as those in the Documentation Precedent (including in respect of baskets and carveouts to such covenants); provided, that such covenants shall in no event be more restrictive than the corresponding covenant in the First Lien Notes. For the avoidance of doubt, there shall be no financial maintenance covenants.
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Defeasance and Discharge Provisions. Customary for high yield debt securities consistent with the Propco First Lien Notes Documentation Principles. Modification: Customary for high yield debt securities consistent with the Propco First Lien Notes Documentation Principles. Notes held by the Issuer and its affiliates, including the Sponsors, shall not have voting rights.
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Examples of Defeasance and Discharge Provisions in a sentence

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

  • Defeasance and Discharge Provisions: Customary for high yield debt securities consistent with the Opco First Lien Notes Documentation Principles.

  • Defeasance and Discharge Provisions: Customary for high yield debt securities consistent with the Propco First Lien Notes Documentation Principles.

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

  • Defeasance and Discharge Provisions Customary for high yield debt securities and consistent with the Applicable Secured Bond Standard.

  • Defeasance and Discharge Provisions: Customary for publicly traded high yield debt securities and consistent with the Applicable Bond Standard.

  • Defeasance and Discharge Provisions: Substantially consistent with the 2025 Notes.

  • Defeasance and Discharge Provisions: Customary for high yield debt securities.

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

  • Defeasance and Discharge Provisions: Substantially consistent with the 2023 Notes.


More Definitions of Defeasance and Discharge Provisions

Defeasance and Discharge Provisions. Consistent with the standard set forth under “Documentation” above.
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Related to Defeasance and Discharge Provisions

  • Defeasance has the meaning specified in Section 1302.

  • Defeasance Obligations means any of the following obligations:

  • Defeasance Event shall have the meaning set forth in Section 2.5.1(a) hereof.

  • Defeasance Loan Those Mortgage Loans which provide the related Mortgagor with the option to defease the related Mortgaged Property.

  • Defeasance Collateral means: (i) a Xxxxxxx Mac Debt Security, (ii) a Xxxxxx Mae Debt Security, (iii) U.S. Treasury Obligations, or (iv) FHLB Obligations.

  • Defeasance Agent means another financial institution which is eligible to act as Trustee hereunder and which assumes all of the obligations of the Trustee necessary to enable the Trustee to act hereunder. In the event such a Defeasance Agent is appointed pursuant to this Section, the following conditions shall apply:

  • Defeasance Period is defined in the Note, if applicable.

  • Defeasance Date shall have the meaning set forth in Section 2.5.1(a)(i) hereof.

  • Covenant Defeasance Option is defined in Section 4.01(b) of the Indenture.

  • Defeasance Deposit means an amount equal to the remaining principal amount of the Note, the Defeasance Payment Amount, any costs and expenses incurred or to be incurred in the purchase of U.S. Obligations necessary to meet the Scheduled Defeasance Payments and any revenue, documentary stamp or intangible taxes or any other tax or charge due in connection with the transfer of the Note or otherwise required to accomplish the agreements of Sections 2.4 and 2.5 hereof (including, without limitation, any fees and expenses of accountants, attorneys and the Rating Agencies incurred in connection therewith).

  • Legal Defeasance Option is defined in Section 4.01(b) of the Indenture.

  • Defeasance Securities means (i) Federal Securities, (ii) noncallable obligations of an agency or instrumentality of the United States of America, including obligations that are unconditionally guaranteed or insured by the agency or instrumentality and that, on the date the Commissioners Court adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Bonds are rated as to investment quality by a nationally recognized investment rating firm not less than "AAA" or its equivalent, (iii) noncallable obligations of a state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and that, on the date the Commissioners Court adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Bonds, are rated as to investment quality by a nationally recognized investment rating firm no less than "AAA" or its equivalent, and (iv) any other then authorized securities or obligations under applicable State law that may be used to defease obligations such as the Bonds.

  • Covenant Defeasance has the meaning specified in Section 1303.

  • Additional Defeasible Provision means a covenant or other provision that is (a) made part of this Indenture pursuant to an indenture supplemental hereto, a Board Resolution or an Officer’s Certificate delivered pursuant to Section 3.1, and (b) pursuant to the terms set forth in such supplemental indenture, Board Resolution or Officer’s Certificate, made subject to the provisions of Article Thirteen.

  • Scheduled Defeasance Payments shall have the meaning set forth in Section 2.5.1(b) hereof.

  • Discharge of First Lien Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.

  • Final Discharge Date means the date when all principal, interest and any other costs or outstanding amounts under the Senior Finance Documents have been irrevocably discharged in full and all commitments of the Secured Parties under the Senior Finance Documents have expired, been cancelled or terminated.