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.
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.
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.
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, votes to approve or reject the Qualifying Modification have been solicited and tabulated fairly and in a manner consistent with PROMESA and each of the Pools of Participating Bonds voted to approve the Qualifying Modification.
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.
Such compromises and settlements recognize the significant contributions by parties, including the holders of Participating Bonds, to achieve an efficient and consensual reorganization of GDB, and are made in exchange for consideration, including the release of certain Claims and Causes of Action (each as defined in the Solicitation Statement).
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”).
The Supplemental Indenture providing for the issuance of such Series shall state whether the Bonds of such Series are Participating Bonds.
The Guaranteed Bond Claim Pool includes only Participating Bond Claims in respect of the Senior Guaranteed Notes (2013) Series B-1 issued and outstanding pursuant to the certain trust indenture, dated as of February 17, 2006, between GDB and Wilmington Trust, National Association, as successor trustee, which Participating Bonds have the benefit of a guarantee by the Commonwealth, as identified on Exhibit D to the Solicitation Statement.