Examples of Issuer Insolvency Event in a sentence
Except following the service of an Issuer Enforcement Notice or the occurrence of an Issuer Insolvency Event, no mandatory redemption of the Principal Amount Outstanding under the Notes by the Issuer may occur during the Initial Period.
If an Issuer Insolvency Event has occurred and is continuing, the Trustee may at any time, at its discretion, and shall if so directed in writing by Security Holders holding not less than 25 per cent.
Therefore, there is no assurance that, over the life of the Notes or at the redemption date of the Notes (whether on maturity or upon redemption by acceleration of maturity upon the Representative of the Noteholders giving the Issuer an Issuer Enforcement Notice following the occurrence of an Event of Default or an Issuer Insolvency Event or otherwise), there will be sufficient funds to enable the Issuer to repay the Notes in full.
Pursuant to the Deed of Charge, the Representative of the Noteholders will, following the service of an Issuer Enforcement Notice on the Issuer or the occurrence of an Issuer Insolvency Event, hold and exercise the Issuer Secured Creditors’ rights under the Deed of Charge for the account and benefit of the Issuer Secured Creditors.
Pursuant to the terms of the Trust Deed, at any time after an Issuer Insolvency Event, an Event of Default or a Potential Event of Default has occurred in relation to the WT Securities, the Trustee may (i) by notice in writing to the Issuer, the Issuing and Paying Agent, if applicable.