Examples of Stub Notes in a sentence
If the Stub Notes are cancelled the Calculation Agent shall pay an amount to each Holder in respect of each Stub Note held by him which amount shall be the fair market value of a Stub Note taking into account the Market Adjustment Event, less the cost to the Issuer of unwinding any underlying related hedging arrangements, (as determined by the Calculation Agent in its opinion).
The Company’s unsecured note obligations consist of approximately: (a) $152.5 million in principal amount of obligations in connection with the Subordinated Notes due 2009; and (b) $12.3 million in principal amount of 12% Stub Notes due 2010.
The Subordinated Notes were issued in connection with a financial restructuring pursuant to which a substantial majority of the holders of the Stub Notes exchanged their Stub Notes for a combination of cash, Subordinated Notes, preferred stock, and warrants to purchase common stock.
As a result of the 2002 financial restructuring, the Stub Notes are subordinated to all existing and future senior indebtedness (other than the Subordinated Notes), including the Senior Secured Note Claims and MHR Note Claims.
On July 21, 2000, pursuant to the Stub Notes Indenture by and among Ziff Davis Media as issuer, the Company’s domestic affiliates (other than Ziff Davis Intermediate Holdings) as guarantors, and the Stub Notes Indenture Trustee, Ziff Davis Media issued $250 million of Stub Notes.