Distressed Exchange Offer has the meaning specified in Annex C.
Distressed Exchange Offer means an offer by the issuer of a Collateral Asset to exchange one or more of its outstanding debt obligations for a different debt obligation or to repurchase one of more of its outstanding debt obligations for Cash, or any combination thereof; provided that an offer by such issuer to exchange unregistered debt obligations for registered debt obligations shall not be considered a Distressed Exchange Offer.
Distressed Exchange Offer means an offer by the issuer of an Underlying Asset to exchange one or more of its outstanding debt obligations for a different debt obligation or to repurchase one of more of its outstanding debt obligations for Cash, or any combination thereof; provided that an offer by such issuer to exchange unregistered debt obligations for registered debt obligations shall not be considered a Distressed Exchange Offer.
Examples of Distressed Exchange Offer in a sentence
Subject to clause (d) below, if applicable, if the Collateral Obligation is the debt obligation on which the related Distressed Exchange Offer has been made, until S&P publishes revised ratings following the completion or withdrawal of the offer, the S&P Rating of such Collateral Obligation shall be “CCC-”.
Subject to clause (d) below, if the Collateral Obligation is subordinate to the debt obligation on which the related Distressed Exchange Offer has been made, until S&P publishes revised ratings following the completion or withdrawal of the offer the S&P Rating of such Collateral Obligation shall be “CCC-”.
More Definitions of Distressed Exchange Offer
Distressed Exchange Offer means an offer by the issuer of an Underlying Asset to exchange one or more of its outstanding debt obligations for a different debt obligation or to repurchase one of more of its outstanding debt obligations for Cash, or any combination thereof; provided that, in the sole judgment of the Asset Manager, such exchange amounts to a diminished financial obligation or has the purpose of helping the issuer of such Underlying Asset
Distressed Exchange Offer. With respect to any Collateral Obligation, the occurrence of an offer to pursue a Distressed Exchange has been contractually authorized but the Distressed Exchange has not yet occurred.”
Distressed Exchange Offer means an offer by the issuer of an Underlying Asset to exchange one or more of its outstanding debt obligations for a different debt obligation or to repurchase one of more of its outstanding debt obligations for Cash, or any combination thereof; provided that, (x) in the sole judgment of the Asset Manager, such exchange amounts to a diminished financial obligation or has the purpose of helping the issuer of such Underlying Asset avoid default and (y) as determined by the Asset Manager, both prior to and after giving effect to such exchange, (i) not more than 20.0% of the Aggregate Principal Balance consists of obligations received pursuant to a Distressed Exchange Offer and (ii) not more than 25.0% of the Effective Date Target Par Amount consists of obligations received pursuant to a Distressed Exchange Offer at any time from the Closing Date (whether or not still held by the Issuer at the
Distressed Exchange Offer means an offer by the Obligorobligor of a Collateral Obligation in connection with a distressed exchange or other debt restructuring to exchange one or more of its outstanding debt obligations for a different debt obligation or to repurchase one or more of its outstanding debt obligations for cash, or any combination thereof; provided, that no Distressed Exchange Offer shall be deemed to have occurred if the securities or obligations received by the Issuer in connection with such exchange or restructuring satisfy the definition of "Collateral Obligation" (provided that the aggregate principal balance of all securities and obligations to which this proviso applies or has applied, measured cumulatively from the Closing Date onward, may not exceed 25% of the Effective Date Target Par Amount).
Distressed Exchange Offer. “Dollar”, “$” and “USD”; “Eligible Collateral Asset”; “First Lien Bank Loan”; “Fitch”; “Foreign Loan”; “Foreign Obligor Notice”; “Laws”; “Xxxxx’x”; “Obligations”; “S&P”; “S&P Industry Category”; “Second Lien Bank Loan”; “Senior Secured Bond”; “Senior Subordinated Bond”; Senior Unsecured Bond”; “Structured Finance Security”; “Subordinated Bond.”
Distressed Exchange Offer has the meaning specified in Annex C. “Dollar” and “$” mean lawful money of the United States. “Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in the any other currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent at such time on the basis of the Spot Rate. “EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA 8
Distressed Exchange Offer. An offer by the obligor of an Underlying Asset to exchange one or more of its outstanding debt obligations for a different debt obligation of such obligor or to repurchase one of more of its outstanding debt obligations for Cash, or any combination thereof in a distressed exchange or other debt restructuring, as reasonably determined by the Asset Manager, pursuant to which such obligor of such Underlying Asset has issued to the holders of such Underlying Asset a new security or package of securities or obligations that, in the sole judgment of the Asset Manager, amounts to a diminished financial obligation or has the purpose of helping the obligor of such Underlying Asset avoid default; provided that an offer by such obligor to exchange unregistered debt obligations for registered debt obligations shall not be considered a Distressed Exchange Offer.