Examples of New Equity Amount in a sentence
If any Extended Interest Payment Period lasts longer than one year, unless required to do so by the Federal Reserve and subject to the exceptions listed in clauses (a) and (b) of this Section 13.3, the Company will not repurchase any of its common stock for a one-year period following the payment of all Deferred Interest with the New Equity Amount.
Prior to the Petition Date, PHI and PTI entered into the Securities Purchase Agreement with the Investors, pursuant to which the Investors will purchase from PHI, for the Required New Equity Amount, the outstanding New Common Stock, subject to adjustment as a result of the election by Holders of Allowed Class PHI-6 Senior Notes Claims to receive a portion of their Distributions under the Plan in the form of New Common Stock.
If any Extended Interest Payment Period lasts longer than one year, unless required to do so by the Federal Reserve and subject to the exceptions listed in clauses (a) and (b) of this Section 13.3, the Company will not, and will not permit any subsidiary to purchase any of its common stock for a one-year period following the payment of all Deferred Interest with the New Equity Amount.
On any Interest Payment Date during a New Equity Settlement Period, the Company covenants not to pay any accrued and unpaid interest on the Notes except on an Interest Payment Date and except in an aggregate amount for each Interest Payment Date that does not exceed the New Equity Amount with respect to such Interest Payment Date raised by the Company pursuant to clause (k) below.
If an Extended Interest Payment Period continues beyond its Fifth Deferral Anniversary, the Company may not pay on any Interest Payment Date interest that has accrued on any Security during the Quarterly Interest Accrual Period immediately preceding such Interest Payment Date, until the Company has paid all Deferred Interest at such time outstanding on all of the Securities using the proceeds from the New Equity Amount.