Initial Senior Notes Interest Reserve Amount. The Master Issuer expects the Series 2018-1 Senior Notes Interest Reserve Amount on the Closing Date to be approximately $14.2 million, and on the Closing Date, the Master Issuer will be required to deposit funds into the Senior Notes Interest Reserve Account and/or arrange for the issuance of an Interest Reserve Letter of Credit in an aggregate amount equal to the Initial Senior Notes Interest Reserve Amount from the proceeds of the Offered Notes. Any additional net proceeds may be applied by the Master Issuer to prefund all or a portion of the Senior Notes Quarterly Interest Amount and the Offered Notes Quarterly Scheduled Principal Amount that will be payable on the Quarterly Payment Date in December 2018, contributed by the Master Issuer to one or more other Securitization Entities for working capital purposes, and/or distributed to Planet Fitness Holdings to pay certain transaction-related expenses and for general corporate purposes, which may include a return of capital to Holdco’s equityholders. Rule 144A CUSIP/ISIN Numbers: Class A-2-I 00000XXX0 / US72703PAA12 Class A-2-II 00000XXX0 / US72703PAB94 Reg S CUSIP/ISIN Numbers: Class X-0-X X0000XXX0 / USU7260QAA77 Class A-2-II X0000XXX0 / USU7260QAB50 Distribution: Rule 144A and Reg S Compliant This Pricing Supplement (this “Pricing Supplement”) is qualified in its entirety by reference to the Preliminary Offering Memorandum, dated July 9, 2018, of Planet Fitness Master Issuer LLC (the “Preliminary Offering Memorandum”). The information in this Pricing Supplement supersedes the information in the Preliminary Offering Memorandum to the extent inconsistent with the information in the Preliminary Offering Memorandum. Capitalized terms used herein and not defined herein have the meanings assigned in the Preliminary Offering Memorandum. THE NOTES ARE SOLELY THE OBLIGATION OF THE MASTER ISSUER (GUARANTEED BY THE GUARANTORS). THE NOTES DO NOT REPRESENT OBLIGATIONS OF THE MANAGER OR ANY OF ITS AFFILIATES (OTHER THAN THE MASTER ISSUER AND THE GUARANTORS), OFFICERS, DIRECTORS, SHAREHOLDERS, MEMBERS, PARTNERS, EMPLOYEES, REPRESENTATIVES OR AGENTS. THE NOTES ARE NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY. THE NOTES REPRESENT A NON-RECOURSE OBLIGATION OF THE MASTER ISSUER (GUARANTEED BY THE GUARANTORS) AND ARE PAYABLE SOLELY FROM THE ASSETS OF THE GUARANTORS, AND PROSPECTIVE INVESTORS SHOULD MAKE AN INVESTMENT DECISION BASED UPON AN ANALYSIS OF THE SUFFICIENCY OF THE ASSETS. THE ISSUANCE AND SALE OF THE NO...
Initial Senior Notes Interest Reserve Amount means, with respect to the Notes issued on the Initial Closing Date, an amount equal to $14.2 million to be deposited into the Senior Notes Interest Reserve Account and/or arranged for issuance as an Interest Reserve Letter of Credit by the Master Issuer.
Initial Senior Notes Interest Reserve Amount means, with respect to the Notes issued on the Closing Date, an amount equal to $15,885,875 to be deposited into the Senior Notes Interest Reserve Account and/or arranged for issuance as an Interest Reserve Letter of Credit by the Master Issuer.
Examples of Initial Senior Notes Interest Reserve Amount in a sentence
The Master Issuer expects the Series 2019-1 Senior Notes Interest Reserve Amount on the Closing Date to be $15,885,875, and on the Closing Date, the Master Issuer will be required to make a deposit of funds into the Senior Notes Interest Reserve Account and/or arrange for the issuance of an Interest Reserve Letter of Credit in an aggregate amount equal to the Initial Senior Notes Interest Reserve Amount from the proceeds of the Offered Notes.
Initial Senior Notes Interest Reserve Amount: On the Closing Date, the Master Issuer will be required to deposit a portion of the net proceeds of the offering and sale of the Offered Notes, in an amount equal to approximately $5.6 million, into the Senior Notes Interest Reserve Account and/or arrange for the issuance of an Interest Reserve Letter of Credit for such amount.
More Definitions of Initial Senior Notes Interest Reserve Amount
Initial Senior Notes Interest Reserve Amount. On the Closing Date, the Master Issuer will be required to deposit a portion of the net proceeds of this offering to fund the Senior Notes Interest Reserve Account and/or arrange for the issuance of an Interest Reserve Letter of Credit such that the aggregate amount in the Senior Notes Interest Reserve Account will equal or be greater than $25.7 million.
Initial Senior Notes Interest Reserve Amount means, with respect to the Notes issued on the Initial Closing Date, an amount equal to $14.2 million to be deposited into the Senior Notes Interest Reserve Account and/or arranged for issuance as an Interest Reserve Letter of Credit by the Master Issuer. “Insolvency” means liquidation, insolvency, bankruptcy, rehabilitation, composition, reorganization or conservation; and, when used as an adjective, “Insolvent.” “Insurance/Condemnation Proceeds” means an amount equal to: (i) any cash payments or proceeds received by the Securitization Entities (a) by reason of theft, physical destruction or damage or any other similar event with respect to any properties or assets of the Securitization Entities under any policy of insurance (other than liability insurance) in respect of a covered loss thereunder or (b) as a result of any non-temporary condemnation, taking, seizing or similar event with respect to any properties or assets of the Securitization Entities by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking minus (ii)(a) any actual and reasonable costs incurred by the Securitization Entities in connection with the adjustment or settlement of any claims of the Securitization Entities in respect thereof and (b) any bona fide direct costs incurred in connection with any disposition of such assets as referred to in clause (i)(b) of this definition, including Taxes (or distributions to a direct or indirect parent for Taxes) paid or reasonably expected to be actually payable with respect to the Securitization