Examples of ICF Notes in a sentence
As a result, remaining unamortized debt issuance costs on the exchanged 2018 Luxembourg Notes will be amortized over the remaining term of the newly issued 2022 ICF Notes.
In connection with the 2021 Luxembourg Exchange, we recognized a net gain on early extinguishment of debt of $609.8 million, consisting of the difference between the carrying value of the 2021 Luxembourg Notes exchanged and the fair value of the 2022 ICF Notes issued and the total cash paid (including related fees and expenses), together with a write-off of unamortized debt issuance costs.
In connection with the 2023 Luxembourg Exchange, we recognized a net gain on early extinguishment of debt of $69.4 million, consisting of the difference between the carrying value of the 2023 Luxembourg Notes exchanged and the fair value of the 2022 ICF Notes issued and the total cash paid (including related fees and expenses), together with a write-off of unamortized debt issuance costs.
We valued the contingent put option embedded within Intelsat Connect Finance S.A.’s 12 1⁄2% Senior Notes due 2022 (the “2022 ICF Notes”) using a valuation technique which reflects the estimated date and probability of a change in control, the fair value of the 2022 ICF Notes, and a credit valuation adjustment reflecting our credit spreads.
Interest and fees on the outstanding ICF Notes shall accrue during each Interest Accrual Period.
The ICF Indenture Trustee makes no representations as to the validity or sufficiency of this Indenture, the ICF Notes, the ICF Collateral or of any related document.
At (x) any time there are both ICI Notes and ICF Notes Outstanding or (y) there are any Floating Rate ICI Notes, ICF may not voluntarily prepay any or all of the ICF Aggregate Note Principal Balance without the prior written consent of the ICF Global Requisite Majority except in connection with any required or permitted prepayment of the ICI Notes, including, without limitation,, any required prepayment by ICI to the extent that the ICI Aggregate Note Principal Balance exceeds the Borrowing Base.
This Section 312 shall not apply to the tax treatment of the ICF Notes in any taxing jurisdiction where neither ICF nor any ICF Noteholder is classified as an entity separate from the owner(s) of ICF, and, as a result, the ICF Notes are disregarded for tax purposes.
ICF shall promptly furnish to any ICF Holder, or any Prospective Owners designated by an ICF Holder, the information required to be delivered by any ICF Holder and Prospective Owner in connection with a resale of the ICF Notes to permit compliance with Rule 144A in connection with such resale.
The ICF Indenture Trustee in its individual or any other capacity may become the owner or pledgee of ICF Notes with the same rights it would have if it were not the ICF Indenture Trustee so long as such transaction does not result in the disqualification of the ICF Indenture Trustee also acting as the ICI Indenture Trustee for purposes of Rule 3(a)-7 under the Investment Company Act of 1940.