Examples of Senior Unsecured Term Loans in a sentence
Following the Senior Unsecured Term Loan Exchange, all Senior Unsecured Term Loans transferred and assigned to the Reorganized Debtors shall no longer be outstanding and shall automatically be cancelled and shall cease to exist.
Class 10 consists of Senior Unsecured Term Loan Claims in the Allowed amount of approximately $320 million, which constitutes principal plus accrued but unpaid prepetition interest plus such other prepetition amounts as may be contractually obligated under the Senior Unsecured Term Loans.
The Senior Unsecured Term Loans and the Senior Unsecured Exchange Notes shall be pari passu with one another for all purposes.
The date on which Bridge Loans are converted into Senior Unsecured Term Loans is referred to as the “Conversion Date”.
Upon and after the Senior Conversion Date, the covenants, mandatory offers to purchase and defaults which would be applicable to the Senior Exchange Notes, if issued, will also be applicable to the Senior Unsecured Term Loans in lieu of the corresponding provisions of the Senior Bridge Loans (except that any offer to repurchase upon the occurrence of a change of control will be made at 100% of the outstanding principal amount thereof, plus accrued and unpaid interest to the date of repurchase).
The Senior Unsecured Term Loans will bear interest at an interest rate per annum equal to the Total Cap (the “Senior Unsecured Term Loan Interest Rate”).
These mandatory prepayment provisions will not apply to the Senior Unsecured Term Loans.
Thereafter, the Borrower shall set a date (the “Exchange Date”) for the exchange of Senior Unsecured Term Loans for Senior Exchange Notes, which date shall be (a) no less than five Business Days after such Exchange Trigger Event and (b) the next day which is the 6th day of any calendar month (or if such date is not a Business Day, the next Business Day) following the Exchange Trigger Event (provided that such date shall also comply with the immediately preceding clause (a)).
For the avoidance of doubt, this Section 2.5(e) shall not apply to Senior Unsecured Term Loans.
The Senior Unsecured Term Loans may be prepaid, in whole or in part, at par, plus accrued and unpaid interest upon not less than three days’ prior written notice, at the option of the Borrower at any time.