Loan Note Documents definition
Examples of Loan Note Documents in a sentence
If the Guarantor receives any benefit, payment or distribution in relation to such rights it shall hold that benefit, payment or distribution to the extent necessary to enable all amounts which may be or become payable to the relevant Noteholder by the Company under or in connection with the Loan Note Documents to be repaid in full on trust for the relevant Noteholder and shall promptly pay or transfer the same to the relevant Noteholder for application towards the Guaranteed Liabilities.
The Security Trustee shall be entitled to make such deductions and withholdings (on account of taxes or otherwise) from payments to any Loan Noteholder as it is required by any applicable law to make and to pay out of amounts due to any Loan Noteholder all taxes assessed against it in respect of any property charged or assigned pursuant to the Security Documents or by virtue of its role as trustee under any of the Loan Note Documents or this Deed.
For the purposes of the Loan Note Documents or this Deed that Party shall be regarded as having received any amount so deducted.
Forthwith upon the date that all amounts owing under the Loan Note Documents and this Deed have been fully discharged, the trusts set out in this Deed shall be wound up and all the rights, duties and obligations of the Security Trustee to the Loan Noteholders shall cease to have effect.
If any Party owes an amount to the Security Trustee under the Loan Note Documents or this Deed the Security Trustee may, after giving notice to that Party, deduct an amount not exceeding that amount from any payment to that Party which the Security Trustee would otherwise be obliged to make under the Loan Note Documents or this Deed and apply the amount deducted in or towards satisfaction of the amount owed.
The liability shall be divided between such Loan Noteholders pro rata to the respective amounts of the indebtedness under the Loan Note Documents outstanding under the relevant Loan Note Document from time to time.
By its acceptance of the Loan Notes and the other Loan Note Documents, the Noteholder hereby acknowledges and agrees that the Noteholder’s payment rights hereunder shall at all times be subordinated and junior to the rights of the Senior Lender under the Senior Instrument.
Administrative Agent shall have the right hereunder to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking any action (including, without limitation, the release or substitution of the Mortgaged Property) in accordance with the terms of the Loan Note Documents and this Mortgage.
The provisions of the Loan Note Documents and the rights of the Noteholders are subject to modification, abrogation or compromise only with the sanction of an Extraordinary Resolution.
Non-contractual obligations (if any) arising out of or in connection with this instrument and the other Loan Note Documents (including its/their formation) shall also be governed by the laws of England and Wales.