Examples of Midwest Notes Claims in a sentence
To the extent that the Required Exit Facility Term Loans are issued with an original issue discount, then holders of Midwest Notes Claims will receive Midwest Notes OID Consideration, either in the form of cash or additional Midwest Notes Exit Facility Term Loans corresponding to such original issue discount.
Impaired / Entitled to Vote Class 4 Midwest Notes Claims On the Plan Effective Date, each holder of an Allowed Midwest Notes Claim shall receive its pro rata share of the Midwest Notes Exit Facility Term Loans, the principal amount of which shall in no event exceed $100 million.
The parties to the Plan Support Agreement include holders of more than 94% of the First Lien Claims, approximately 54% of the Second Lien Claims, more than 39% of the Unsecured Notes Claims, and approximately 72% of the Midwest Notes Claims and have agreed to support confirmation of the Plan, including voting their respective Claims to accept the Plan.
This Second Amendment shall be effective on the date on which the Company Parties have executed this Second Amendment and received signature pages from (i) all of the other Required Amendment Parties and (ii) holders of at least two-thirds of the aggregate outstanding principal amount of Midwest Notes Claims (as defined in the Plan Support Agreement) (the “Second Amendment Effective Date”).
Certain holders of First Lien Claims, Uniti, Elliott, and certain holders of Midwest Notes Claims are parties to the Plan Support Agreement.
The Court has approved May 7, 2020 as the record date for purposes of determining which holders of Claims in Class 3 (First Lien Claims), Class 4 (Midwest Notes Claims), Class 5 (Second Lien Claims), and Class 6A (Obligor General Unsecured Claims) are entitled to vote on the Plan (the “Voting Record Date”).
Holders of Class 4 Midwest Notes Claims will receive their Pro Rata share of Midwest Notes Exit Facility Term Loans.
Uniti and Holders of more than 94% of the First Lien Claims, approximately 54% of the Second Lien Claims, more than 39% of the Unsecured Notes Claims, and approximately 72% of Midwest Notes Claims have executed the Plan Support Agreement and support confirmation of the Plan.
In exchange for full and final satisfaction, compromise, settlement, release and discharge of the Class 4 Midwest Notes Claims, each holder thereof will receive its Pro Rata share of the Midwest Notes Exit Facility Term Loans.The exchange of such Claims should be treated as a taxable exchange pursuant to section 1001 of the IRC.
Holders of more than 94 percent of First Lien Claims, including the Debtors’ largest creditor, Elliott Investment Management, L.P. and its affiliated funds (“Elliott”), 54 percent of Second Lien Claims, 39 percent of unsecured claims, and 72percent of Midwest Notes Claims agreed to support the Uniti Settlement and the Plan.