Examples of Participating Bonds in a sentence
No Participating Bonds that have identical rights in security or priority have been placed into separate Pools, and no Participating Bonds other than those benefiting from a guarantee by the Commonwealth are entitled to a separate Pool under PROMESA.
On the Closing Date, all Participating Bond Claims, including all Participating Bonds will be extinguished and cancelled and holders thereof will immediately and forever cease to have any rights, interests or claims against GDB, the Recovery Authority or any of their assets or any successors or assigns thereof in respect of such Participating Bonds.
The pooling of GDB’s Participating Bonds set forth in Exhibits C and D to the Solicitation Statement complies with the pooling requirements under PROMESA.
Section 601(m)(1)(C) of PROMESA is not applicable because there are no Participating Bond Claims in respect of Participating Bonds secured by a lien on property.
As evidenced by the Voting Certification and the 601(m) Certification (a) Eligible Voters holding over 50% of the Outstanding Principal amount of Outstanding Participating Bonds in each Pool voted to approve the Qualifying Modification; and (b) Eligible Voters holding over 66 2/3% of the Outstanding Principal amount of Outstanding Participating Bonds in each Pool that voted in the Solicitation voted to approve the Qualifying Modification.
LuxCo will use the proceeds of the issue of the Profit Participating Bonds to invest in floating rate, secured loans or high-yield bonds issued by European or US borrowers predominantly rated below investment grade or deemed by the Investment Manager to be of a corresponding credit quality.
The Board has given due consideration to the submissions made by the parties.
Under no circumstances shall the Outstanding 2009A Bonds, the Outstanding 2009B Bonds or the Outstanding 2010A Bonds be released from the Reserve Fund Participating Bonds.
Holders of record of Participating Bonds that were Outstanding were determined as of July 31, 2018 (the “Voting Record Date”)— the date specified in the Solicitation Package for such purpose (such holders, “Eligible Voters”).
On the Closing Date, or as soon thereafter as reasonably practicable, the Recovery Authority will issue, to each holder of Participating Bonds, without the need for any further corporate or governmental action, New Bonds having a face amount equal to 55% of such holder’s Participating Bond Claim.