Junior Surplus Notes definition

Junior Surplus Notes means the 5.1% unsecured notes issued by the Segregated Account in accordance with the Rehabilitation Plan and scheduled to mature on June 7, 2020. For the avoidance of doubt, the terms of the Junior Surplus Notes transferred to the Reorganized Debtor, if any, shall be no less favorable than those extended to any other recipient of such notes.
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Junior Surplus Notes means any junior surplus notes issued by the Segregated Account.
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Junior Surplus Notes means any junior surplus notes issued by the Segregated Account. “Late Claim” means any Claim determined, pursuant to the procedure set forth in Section4.1 of these Payment Guidelines, to not have been submitted in compliance with the provisions of the Plan, the Interim Cash Payment Rules, or these Payment Guidelines within one hundred twenty (120) days of the earliest date on which such Claim, if it had been submitted, would have satisfied all of the requirements to be considered a Permitted Claim; provided that the Rehabilitator may extend such one hundred twenty (120) day period in the case of excusable neglect (as determined by the Rehabilitator in his sole and absolute discretion), but in no event beyond one year from the earliest date on which such Claim, if it had been submitted, would have satisfied all of the requirements to be considered a Permitted Claim.
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Examples of Junior Surplus Notes in a sentence

  • The Junior Surplus Notes to be issued pursuant to section 8 of the Mediation Agreement shall not be provided administrative-expense priority.

  • Junior Surplus Notes are subordinate to Segregated Account Surplus Notes.

  • The aggregate amount of the Junior Surplus Notes was determined as of the OSS Settlement Effective Date to be $36,081,612.

  • Additionally, on the Plan Settlement Closing Date, the Segregated Account shall issue$350 million of Junior Surplus Notes to the Reorganized Debtor, the terms of which shall be mutually agreed and no less favorable to the Debtor than those extended to any other recipient of Junior Surplus Notes as a creditor described by subsections (5) or (6) of Section 645.68 of the Wisconsin Statutes.

  • One of the Junior Surplus Notes is subject to reduction in amounts equal to (x) 83.33% of the value of any distribution received by OSS from the Debtor’s bankruptcy estate and (y) the net present value (using a 7% discount rate) of rents paid during any extension term of the New AAC Lease.

  • Pursuant to the OSS Settlement Agreement, the Segregated Account issued to OSS Junior Surplus Notes.

  • Holders of Junior Surplus Notes would receive no recovery of the then-outstanding principal amount of Junior Surplus Notes (and all accrued interest thereon) at the end of the Projection period.

  • Holders of Junior Surplus Notes would receive no recovery of the then-outstanding principal amount of Junior Surplus Notes (and all accrued interest thereon) at the end of the projection period.

  • With the exception of the Surplus Notes and the Junior Surplus Notes, which provide for payments of interest, and unless otherwise specifically provided for in the Plan, no interest will accrue or be paid on Permitted Claims, and no Holder of any Permitted Claim will be entitled to interest.

  • The Junior Surplus Notes are subordinated to the Surplus Notes, the Weinstein Notes, the Bank Settlement Notes, and similar surplus notes and obligations discussed in Section VI.


More Definitions of Junior Surplus Notes

Junior Surplus Notes means the Junior Surplus Notes of the Segregated Account, in the original principal amount of $350,000,000 issued pursuant to the Underlying Fiscal Agency Agreement and scheduled to mature on June 7, 2020, which notes are being deposited pursuant to the Trust Agreement.
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Related to Junior Surplus Notes

  • Junior Subordinated Debt means (a) subordinated junior deferrable interest debentures of the Borrower, (b) the related preferred securities, if applicable, of Subsidiaries of the Borrower and (c) the related subordinated guarantees, if applicable, of the Borrower, in each case, from time to time outstanding.

  • Junior Securities means the Common Stock and all other Common Stock Equivalents of the Corporation other than those securities which are explicitly senior or pari passu to the Preferred Stock in dividend rights or liquidation preference.

  • Junior Stock means the Corporation’s common stock and any other class or series of stock of the Corporation hereafter authorized over which Series I Preferred Stock has preference or priority in the payment of dividends or in the distribution of assets on any liquidation, dissolution or winding up of the Corporation.

  • Senior Securities means senior securities (as such term is defined and determined pursuant to the Investment Company Act and any orders of the SEC issued to the Borrower thereunder).

  • Junior Lien Indebtedness means any Indebtedness (other than any ABL Facility) that is secured by a junior Lien to the Lien securing the Secured Obligations and that was permitted to be incurred and so secured hereunder.