Senior Notes Distributable Pool definition

Senior Notes Distributable Pool means (a) 38.980% of the New Valaris Equity, subject to dilution on account of the Management Incentive Plan, the Newbuild Equity Pool, and the New Warrants, as applicable, and(b) 97.573% of the Subscription Rights.
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Senior Notes Distributable Pool means 34.8% of the New Valaris Equity, subject to dilution on account of the Management Incentive Plan, the Newbuild Equity Pool, and the New Warrants, as applicable.
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Senior Notes Distributable Pool means: (a) if the Restructuring Transactions are implemented through Alternative A, 34.8% of the Common New Valaris Equity, subject to dilution on account of the Management Incentive Plan and the New Warrants, as applicable; or (b) if the Restructuring Transactions are implemented through Alternative B, 34.8% of (1) the Common New Valaris Equity (minus, if applicable, an amount to allow for the Existing Shareholder Allocation), subject to dilution on account of the Management Incentive Plan and the New Warrants, as applicable, and (2) the Stapled Cash Consideration.
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Examples of Senior Notes Distributable Pool in a sentence

  • Each Holder of an Allowed Jersey Bond Claim shall receive its Pro Rata share (as determined as a percentage of all Allowed Jersey Bond Claims) of 20.204% of the Senior Notes Distributable Pool.

  • Each Holder of an Allowed Valaris Bond Claim shall receive its Pro Rata share (as determined as a percentage of all Allowed Valaris Bond Claims) of 36.835% of (i) the Senior Notes Distributable Pool and (ii) the Subscription Rights.

  • Each Holder of an Allowed Jersey Bond Claim shall receive its Pro Rata share (as determined as a percentage of all Allowed Jersey Bond Claims) of 20.209% of (i) the Senior Notes Distributable Pool and (ii) the Subscription Rights.

  • Each Holder of an Allowed Ensco International Bond Claim shall receive its Pro Rata share (as determined as a percentage of all Allowed Ensco International Bond Claims) of 1.549% of (i) the Senior Notes Distributable Pool and (ii) the Subscription Rights.

  • Each Holder of an Allowed Valaris Bond Claim shall receive its Pro Rata share (as determined as a percentage of all Allowed Valaris Bond Claims) of 36.834% of the Senior Notes Distributable Pool.

  • Subject to the terms and conditions set forth in the Plan and these Rights Offering Procedures, each Eligible Holder, including each Backstop Party, during the Rights Exercise Period is entitled to subscribe for up to its respective pro rata share, of the applicable percentage of Rights Offering Securities (determined as a percentage of the Senior Notes Distributable Pool (as defined in the Plan) and based on applicable Allowed Senior Notes Claim amount) and, in each case, at the Purchase Price.

  • Ensco International Bond Claims On the Plan Effective Date, each holder of an allowed Ensco International Bond Claim shall receive its pro rata share of: (x) 1.549% of the Senior Notes Distributable Pool, and (y) an aggregate $1 million payment in cash.

  • Treatment: Each Holder of an Allowed Ensco International Bond Claim shall receive its Pro Rata share (as determined as a percentage of all Allowed Ensco International Bond Claims) of 1.549% of (i) the Senior Notes Distributable Pool and (ii) the Subscription Rights.

  • Except as otherwise specified herein, the New Valaris Equity (including the New Valaris Equity issued in connection with the Senior Notes Distributable Pool, and the Credit Facility New Valaris Equity) will be issued pursuant to section 1145 of the Bankruptcy Code or otherwise be freely transferrable under applicable securities laws without further registration, subject to certain restrictions on affiliates and underwriters under applicable securities laws.

  • Each Holder of an Allowed Xxxxxxx Xxxx Claim shall receive its Pro Rata share (as determined as a percentage of all Allowed Xxxxxxx Xxxx Claims) of 36.834% of the Senior Notes Distributable Pool.


More Definitions of Senior Notes Distributable Pool

Senior Notes Distributable Pool means (a) 38.980% of the New Valaris Equity, subject to dilution on account of the Management Incentive Plan, the Newbuild Equity Pool, and the New Warrants, as applicable, and (b) 97.6% of the Subscription Rights. The allocation of the Senior Note Distributable Pool among holders of Senior Note Claims is based on the methodology set forth on Exhibit 3. Jersey Bond Claims On the Plan Effective Date, each holder of an allowed Jersey Bond Claim shall receive its pro rata share of 20.204% of the Senior Notes Distributable Pool. Xxxxxxx Xxxx Claims On the Plan Effective Date, each holder of an allowed Xxxxxxx Xxxx Claim shall receive its pro rata share of 36.834% of the Senior Notes Distributable Pool. Legacy Xxxxx Xxxx Claims On the Plan Effective Date, each holder of an allowed Legacy Xxxxx Xxxx Claim shall receive its pro rata share of: (x) 32.605% of the Senior Notes Distributable Pool, and (y) an aggregate $23.75 million payment in cash. General Unsecured Claims Each holder of an allowed General Unsecured Claim against the Debtors (other than the Newbuild Debtors) shall receive payment in full in cash within 90 days after the later of (x) the Plan Effective Date and (y) the date such Claim comes due under applicable Law or in the ordinary course of business in accordance with the terms and conditions of the particular transaction giving rise to such Claim. Claims Against the Newbuild Debtors On the Plan Effective Date, in full and final satisfaction of the Allowed Newbuild Claims, if the Shipyard:
Sample 1
Senior Notes Distributable Pool means (a) 38.980% of the New Valaris Equity, subject to dilution on account of the Management Incentive Plan, the Newbuild Equity Pool, and the New Warrants, as applicable, and (b) 97.6% of the Subscription Rights. The allocation of the Senior Note Distributable Pool among holders of Senior Note Claims is based on the methodology set forth on Exhibit 3. Jersey Bond ClaimsOn the Plan Effective Date, each holder of an allowed Jersey Bond Claim shall receive its pro rata share of 20.204% of the Senior Notes Distributable Pool.Valaris Bond ClaimsOn the Plan Effective Date, each holder of an allowed Valaris Bond Claim shall receive its pro rata share of 36.834% of the Senior Notes Distributable Pool.Legacy Rowan Bond ClaimsOn the Plan Effective Date, each holder of an allowed Legacy Rowan Bond Claim shall receive its pro rata share of: (x) 32.605% of the Senior Notes Distributable Pool, and(y) an aggregate $23.75 million payment in cash.General Unsecured ClaimsEach holder of an allowed General Unsecured Claim against the Debtors (other than the Newbuild Debtors) shall receive payment in full in cash within 90 days after the later of (x) the Plan Effective Date and (y) the date such Claim comes due under applicable Law or in the ordinary course of business in accordance with the terms and conditions of the particular transaction giving rise to such Claim.Claims Against the Newbuild DebtorsOn the Plan Effective Date, in full and final satisfaction of the Allowed Newbuild Claims, if the Shipyard:(i) votes in favor of the Plan, the Shipyard shall receive (x) 0.50% of the New Valaris Equity, subject to dilution on account of the Management Incentive Plan and the New Warrants, as applicable (the “Newbuild Equity Pool”), (y) $5 million in cash payable on or prior to the Effective Date, and (z) such other consideration as set forth in the Newbuild Contracts, as amended and assumed pursuant to Article V of the Plan; and(ii) does not vote in favor of the Plan, the Shipyard shall receive its Liquidation Recovery (as defined in the Plan) promptly after the date the Newbuild Claims are Allowed, but in any event no later than ten days after such date.Intercompany ClaimsSubject to any specific provisions contained in the Plan Supplement, Intercompany Claims shall be, at the option of the Reorganized Debtors with the consent of the Required Consenting Creditors (not to be unreasonably withheld, conditioned, or delayed), reinstated, set off, settled, distributed, contributed, c...
Sample 1
Senior Notes Distributable Pool means (a) 38.980% of the New Valaris Equity, subject to dilution on account of the Management Incentive Plan, the Newbuild Equity Pool, and the New Warrants, as applicable, and (b) 97.6% of the Subscription Rights. The allocation of the Senior Note Distributable Pool among holders of Senior Note Claims is based on the methodology set forth on Exhibit 3.
Sample 1

Related to Senior Notes Distributable Pool

  • Class A-3 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class A‑3 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑3 Rate or, in the case of the first Payment Date, on the Class A‑3 Initial Principal Balance.

  • Noteholders’ Distributable Amount means, with respect to any Distribution Date, the sum of the Noteholders’ Principal Distributable Amount and the Noteholders’ Interest Distributable Amount.

  • Class A-4 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class A‑4 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑4 Rate or, in the case of the first Payment Date, on the Class A‑4 Initial Principal Balance.

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.

  • Class A-1 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of the actual number of days in such Interest Period and a year assumed to consist of 360 days) on the Class A‑1 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑1 Rate or, in the case of the first Payment Date, on the Class A‑1 Initial Principal Balance.

  • Class A Interest Distributable Amount means, with respect to any Distribution Date and each class of Class A Notes, an amount equal to the sum of: (i) the aggregate amount of interest accrued on the Class A Notes at the related Note Rate from and including the preceding Distribution Date (or, in the case of the initial Distribution Date, from and including the Closing Date) to but excluding the current Distribution Date plus (ii) the related Class A Interest Carryover Shortfall for the current Distribution Date.

  • Class B Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class B Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Principal Distribution Amount for that distribution date.

  • Group III Senior Principal Distribution Amount As to any Distribution Date, the sum of (i) the Group III Senior Percentage of the Principal Payment Amount for Loan Group III, (ii) the applicable Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group III, and (iii) the Group III Senior Liquidation Amount.

  • Class B Principal Distributable Amount means, for any Distribution Date: (A) during the Revolving Period, zero; and (B) during the Amortization Period, an amount equal to the lesser of: (i) the positive difference of (x) Available Funds remaining after payment of the amounts set forth in clauses (i) through (iv) of Section 5.08(a) hereto minus (y) the Class A Principal Distributable Amount and (ii) the Class B Note Balance; provided, however, on the Class B Stated Final Maturity Date, the Class B Principal Distributable Amount will equal the Class B Note Balance.

  • Class A Principal Distributable Amount means, for any Distribution Date: (A) during the Revolving Period, zero; and (B) during the Amortization Period, an amount equal to the lesser of: (i) Available Funds remaining after payment of the amounts set forth in clauses (i) through (iv) of Section 5.08(a) hereto and (ii) the Class A Note Balance; provided, however, on the Class A Stated Final Maturity Date, the Class A Principal Distributable Amount will equal the Class A Note Balance.

  • Group II Senior Principal Distribution Amount As to any Distribution Date, the sum of (i) the Group II Senior Percentage of the Principal Payment Amount for Loan Group II, (ii) the applicable Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group II, and (iii) the Group II Senior Liquidation Amount.

  • Class A-P Principal Distribution Amount As defined in Section 4.02.

  • Noteholders’ Principal Distributable Amount means, with respect to any Distribution Date, (other than the Final Scheduled Distribution Date for any Class of Notes), the sum of the Principal Distributable Amount for such Distribution Date and the Noteholders’ Principal Carryover Amount, if any, as of the close of business on the preceding Distribution Date. The Noteholders’ Principal Distributable Amount on the Final Scheduled Distribution Date for any Class of Notes will equal the sum of (i) the Principal Distributable Amount for such Distribution Date, (ii) the Noteholders’ Principal Carryover Amount as of such Distribution Date, and (iii) the excess of the outstanding principal amount of such Class of Notes, if any, over the amounts described in clauses (i) and (ii).

  • Aggregate Class A Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the aggregate of the Note Class Interest Distributable Amount for each class of the Class A Notes as of such Distribution Date and (ii) the Class A Interest Carryover Shortfall as of the close of the preceding Distribution Date.

  • Class A-2 Principal Distribution Amount With respect to any Distribution Date on or after the Stepdown Date and on which a Trigger Event is not in effect, the excess of (x) the sum of the Certificate Principal Balances of the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 58.00% and (ii) the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) and (B) the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) minus the product of (i) 0.50% and (ii) the aggregate principal balance of the Group II Mortgage Loans as of the Cut-off Date.

  • Note Principal Distributable Amount means, with respect to any Payment Date, the sum of (i) the Note Monthly Principal Distributable Amount, (ii) any outstanding Note Principal Carryover Shortfall as of the close of the immediately preceding Payment Date and, (iii) on the Final Payment Date for a Class of Notes or the Payment Date as of which all of the Receivables are to be purchased pursuant to Section 8.01, the amount necessary (after giving effect to all amounts allocable to principal required to be deposited in the Note Distribution Account on such Payment Date) to reduce the Outstanding Amount of each related Class of Notes to zero; provided, however, that the Note Principal Distributable Amount with respect to a Class of Notes shall not exceed the Outstanding Amount of such Class of Notes.

  • Subordinated Principal Distribution Amount As to any Distribution Date and Loan Group, the sum of the following with respect to each Loan Group: (i) the Subordinated Percentage of the applicable Non-PO Percentage of all amounts described in subclauses (a) through (d) of clause (i) of the definition of Non-PO Formula Principal Amount with respect to such Loan Group and such Distribution Date, (ii) with respect to any Mortgage Loan in the related Loan Group that became a Liquidated Mortgage Loan during the calendar month preceding the month of such Distribution Date, the amount of Liquidation Proceeds allocable to principal received with respect thereto remaining after application thereof pursuant to clause (ii) of the definition of Senior Principal Distribution Amount for that Loan Group, up to the Subordinated Percentage of the applicable Non-PO Percentage of the Stated Principal Balance of such Mortgage Loan, and (iii) the Subordinated Prepayment Percentage of the applicable Non-PO Percentage of the amounts described in subclause (f) of clause (i) of the definition of Non-PO Formula Principal Amount with respect to that Loan Group for such Distribution Date, reduced by the amount of any payments in respect of Class PO Deferred Amounts for such Distribution Date; provided, however, that on any Distribution Date after a Senior Termination Date, the Subordinated Principal Distribution Amount will not be calculated by Loan Group but will equal the amount calculated pursuant to the formula set forth above based on the applicable Subordinated Percentage and Subordinated Prepayment Percentage for the Subordinated Certificates for such Distribution Date with respect to all of the Mortgage Loans as opposed to the Mortgage Loans only in the related Loan Group.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Class A Noteholders’ Principal Distribution Amount means, for any distribution date, the Principal Distribution Amount times the Class A Percentage for that distribution date, plus any Class A Note Principal Shortfall as of the close of business on the preceding distribution date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the outstanding principal balance of the class A notes, less all amounts, other than investment earnings, on deposit in the accumulation account.In addition, on the maturity date for any class of class A notes, the principal required to be distributed to the related noteholders will include the amount required to reduce the outstanding principal balance of that class to zero.

  • Aggregate Noteholders’ Principal Distributable Amount With respect to any Distribution Date, the sum of (i) the Noteholders’ Regular Principal Distributable Amount as of such Distribution Date and (ii) the Aggregate Noteholders’ Priority Principal Distributable Amount as of such Distribution Date.

  • Class A Noteholders’ Interest Distributable Amount means, with respect to any Payment Date, the sum of the Class A Noteholders’ Monthly Interest Distributable Amount for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Group I Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group I Senior Percentage of the Principal Payment Amount for Loan Group I, (b) the Group I Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group I and (c) the Group I Senior Liquidation Amount.

  • Class B-3 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-3 Certificates pursuant to Paragraphs eleventh, twelfth and thirteenth of Section 4.01(a).

  • Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date), calculated (x) for the Class A-1 Notes and the Class A-2-B Notes on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for all other Classes of Notes on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the applicable Interest Period), except with respect to the first Interest Period.

  • Class B Noteholders’ Monthly Interest Distributable Amount means, with respect to any Payment Date, interest accrued for the related Interest Accrual Period on the Class B Notes at the interest rate for such Class on the Outstanding Amount of the Notes of such Class on the immediately preceding Payment Date (or, in the case of the initial Payment Date, on the Closing Date), after giving effect to all payments of principal to the Noteholders of such Class on or prior to such preceding Payment Date. For all purposes of this Agreement and the Basic Documents, interest with respect to all Class B Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The interest due on these Classes of notes on each Payment Date will be the product of: · the Outstanding Principal Balance of the Class B Notes; · the Class B Interest Rate; and · 30 (or, in the case of the initial Payment Date, 26) divided by 360.

  • Class B Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class B Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class B Rate or, in the case of the first Payment Date, on the Class B Initial Principal Balance.