Exchange Offer Consummation Date definition
Examples of Exchange Offer Consummation Date in a sentence
If New Second Lien Notes are issued prior to the Exchange Offer Consummation Date in an Escrowed Offering, the gross proceeds of the offering will be deposited into a segregated escrow account (the “Escrow Account”).
Except as expressly permitted herein, the Company, its Subsidiaries and any SPVs will not engage in any line of business other than the (i) contract drilling business, (ii) any hydrocarbon exploration services or hydrocarbon development services business, (iii) on and after the Exchange Offer Consummation Date, any then existing business of Transocean or any of its Subsidiaries or (iv) any related business (each a "Permitted Business").
On or prior to the Exchange Offer Consummation Date for the Series A Senior Secured Bonds Due 2004, the Company may execute and deliver to the Trustee, and upon delivery of an Issuer Order to the Trustee in accordance with the provisions of Section 2.4 of the Original Indenture, the Trustee shall authenticate and deliver, the Series A-1 Senior Secured Bonds Due 2004 in exchange for Series A Senior Secured Bonds Due 2004 validly surrendered to the Trustee pursuant to the Exchange Offer.
In addition, on or prior to the Exchange Offer Consummation Date, Panda Funding may deliver Series A-1 Bonds executed by Panda Funding and having the notation of the PIC Guaranty executed by PIC to the Trustee for authentication together with a Company Order for the authentication and delivery of such Series A-1 Bonds, and the Trustee in accordance with such Company Order shall authenticate and deliver such Series A-1 Bonds with the notations of the PIC Guaranty thereon as provided in the Indenture.
On or prior to the Exchange Offer Consummation Date for the Series B Bonds, the Issuer may execute and deliver to the Trustee, and upon delivery of an Issuer Order to the Trustee in accordance with the provisions of Section 2.4 of the Original Indenture, the Trustee shall authenticate and deliver, the Series B-1 Bonds in exchange for Series B Bonds validly surrendered to the Trustee pursuant to the Exchange Offer.
Term The tenth anniversary of the Exchange Offer Consummation Date (the “Maturity Date”), unless redeemed as set forth in “Redemption” below.
On or prior to the Exchange Offer Consummation Date for the Series A Bonds, the Issuer may execute and deliver to the Trustee, and upon delivery of an Issuer Order to the Trustee in accordance with the provisions of Section 2.4 of the Original Indenture, the Trustee shall authenticate and deliver, the Series A-1 Bonds in exchange for Series A Bonds validly surrendered to the Trustee pursuant to the Exchange Offer.
The Company will maintain, as of the end of each fiscal quarter of the Company, commencing with the first full fiscal quarter ended after the Exchange Offer Consummation Date, a ratio (expressed as a percentage) of Total Funded Debt to Total Capital of (i) no greater than 45% during the period from the first day of such first full fiscal quarter through December 31, 1998, and (ii) at any time from January 1, 1999, until final maturity, no greater than 40%.
For the avoidance of doubt, this Commitment Letter shall not require Non-Sponsor Backstop Parties to purchase the New Second Lien Notes prior to the Exchange Offer Consummation Date; provided that, no later than the third business day prior to such purchase date, each such Non-Sponsor Backstop Party shall confirm in writing the availability of funds to cover such Non-Sponsor Backstop Party’s pro rata portion of the principal amount of New Second Lien Notes.
The Commitment Letter shall not require the Ad Hoc Committee of Unsecured Noteholders signatories to such Commitment Letter to purchase the New Second Lien Notes prior to the Exchange Offer Consummation Date; provided that, no later than the third business day prior to such purchase date, each such signatory shall confirm in writing the availability of funds to cover such signatory’s pro rata portion of the principal amount of New Second Lien Notes.