Examples of Noteholder Collateral in a sentence
No past, present or future director, officer, employee, incorporator, stockholder, member, manag- er or partner of the Issuer or any of its Affiliates, as such, shall have any liability for any obligations of the Issuer, the Guarantors, the Noteholder Collateral Platform Guarantees, the Security Documents, this Indenture, or for any claim based on, in respect of, or by reason of, such obligations or their creation.
Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Issuer and the Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from their obligations with respect to all outstanding Notes and the Noteholder Collateral Platform Guarantees with respect to the Notes on the date the conditions set forth in Section 8.04 are satisfied (‘‘Legal Defeasance”).
If the Issuer exercises its Legal Defeasance (as defined in Section 8.02 below) or Covenant De- feasance (as defined in Section 8.03 below) options, each Guarantor will be released from all of its obli- gations with respect to its Noteholder Collateral Platform Guarantee and will cease to be subject to this Indenture.
U.S. BANK NATIONAL ASSOCIATION, as Trustee By: Name: Title: DEUTSCHEU.S. BANK TRUST COMPANY AMERICASNATIONAL ASSOCIATION, as Noteholder Collateral Agent By: Name: Title: AGREED AND ACCEPTED AS OF THE DATE FIRST ABOVE WRITTEN OCEAN RIG UDW INC.