New Term Notes definition

New Term Notes means term notes in the aggregate principal amount of $135 million to be issued by GMI to the Secured Lenders on the Effective Date, guaranteed by the Reorganized Subsidiaries, and secured by second priority liens and security interests on substantially all of the Reorganized Debtors' tangible and intangible assets, including, without limitation, intellectual property, real property and the capital stock of each Reorganized Subsidiary (except that the liens shall be limited to 65% of the interests held by GMI in its non-debtor foreign subsidiaries and affiliates). The New Term Notes are payable in full three years from their date of issuance.

New Term Notes as defined in Section 2.8(e).

New Term Notes means those certain amended and restated term notes in the aggregate principal amount of $38,000,000 that will be issued pursuant to the New Credit Agreement.

Examples of New Term Notes in a sentence

• However, this treatment is not certain, and Holders of Pre-Petition Credit Agreement Claims should consult their own tax advisors concerning the determination of the issue price of the New Terms Notes and whether the New Term Notes will be issued with original issue discount within the meaning of Section 1273 of the Tax Code and the Regulations promulgated thereunder.

• The holding period for the New Term Notes that are held as capital assets generally will begin on the day after the Effective Date.

• In addition, subject to Section 6.2(b) of this Plan, on the Effective Date, each Holder of an Allowed Pre-Petition Credit Agreement Claim shall receive its Pro Rata Share of (i) 100% of the New Term Notes and (ii) 100% of the New Common Stock.

• The New Term Notes will be guaranteed by the Reorganized Subsidiaries, and secured by second priority liens and security interests on substantially all of the Reorganized Debtors' tangible and intangible assets, including, without limitation, intellectual property, real property and the capital stock of each Reorganized Subsidiary (except that the liens shall be limited to 65% of the interests held by GMI in its non-debtor foreign subsidiaries and affiliates).

• However, this treatment is not certain, and Holders of Pre-Petition Credit Agreement Claims should consult their own tax advisors as to whether such Claims and the New Term Notes received in respect of such Claims constitute securities for federal income tax purposes.

More Definitions of New Term Notes

New Term Notes means any promissory notes of Borrower issued pursuant to subsection 2.1E to evidence the New Term Loans of any Lenders, substantially in the form of Exhibit III-A annexed hereto, as they may be amended, supplemented or otherwise modified from time to time.

New Term Notes means the term loan notes issued by the Company pursuant to the Post-Consummation Facility in an aggregate amount equal to the sum of (i) $273,000,000 plus (ii) the excess, if any, of (a) $47,800,000 over (b) the Net Cash Proceeds from the sale or other liquidation, after the Filing Date, of Designated Collateral securing the Allowed Class 2A Claims, which Net Cash Proceeds shall have been paid to any of the holders of Allowed Class 2A Claims on or prior to the Effective Date in reduction of their Allowed Class 2A Claims minus (iii) the lesser of (1) $8,000,000 and (2) the excess, if any, of (a) the amount calculated pursuant to clause (ii)(b) above over (b) $47,800,000. The New Term Notes shall be secured by the same collateral securing the Exit Facility (collectively, the "Collateral"). The New Term Notes shall bear interest at a rate per annum equal to LIBOR (as defined in the New Credit Agreement) plus 2.5%, shall mature on November 30, 2002 and shall also have the other terms and conditions as are set forth in the Post-Consummation Facility. The rights of the holders of the New Term Notes with respect to the Collateral shall be subject and subordinate to all obligations owing with respect to the Exit Facility.

New Term Notes shall have the meaning provided in Section 12.17(ix).

New Term Notes means the term loan notes to be issued by the Company pursuant to the Post-Consummation Facility in an aggregate amount equal to the sum of (i)

New Term Notes means the New Short-Term Note and the New Long-Term Note.

New Term Notes means the promissory notes of the Borrower, substantially in the form of Exhibit A-1 hereto, each payable to the order of a New Term Lender, evidencing New Term Loans.

New Term Notes means the secured promissory notes to be issued to holders of Term Loan Claims pursuant to Section 2.4(c)(3)(A)(i) in the aggregate principal amount of $164.1 million evidencing term loan obligations of the Reorganized Debtors pursuant to a credit agreement, the terms and conditions of which shall be as set forth on Schedule 1.1(a)(81) and otherwise acceptable to the Term Lender Committee, substantially in the form filed as a Plan Document.