Substitute Notes definition

Substitute Notes. Note" and "Notes" in Section 2.2(b) of the Purchase Agreement are amended and restated in their entirety to read as follows: "(individually, as may be amended, restated, substituted, replaced or otherwise modified from time to time, a "Substitute Note" and collectively, as may be amended, restated, substituted, replaced or otherwise modified from time to time, the "Substitute Notes"; and, together with the Second Debt Closing Notes, each, individually, as may be amended, restated, substituted, replaced or otherwise modified from time to time, a "Note" and collectively, as may be amended, restated, substituted, replaced or otherwise modified from time to time, the "Notes")."

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Substitute Notes. Section 4(b)(ii).

Substitute Notes means notes issued by the Company and guarantees of the Guarantors under the Exchange Note Indenture containing terms identical to the Exchange Notes, as applicable (except that (i) interest thereon shall accrue from the last date on which interest was paid on such Exchange Notes or, if no such interest has been paid, from the date of issuance of such Exchange Notes, (ii) the Substitute Notes will not contain restrictions on transfer and (iii) the Substitute Notes will not be entitled to Additional Interest), and to be offered to Holders of such Exchange Notes pursuant to the Exchange Offer.

Examples of Substitute Notes in a sentence

• The parties acknowledge and agree that the execution and delivery of the Substitute Notes shall not constitute a repayment, refinancing, accord and satisfaction or novation of the Prior Notes or the indebtedness evidenced thereby.

• Each Guarantor hereby reaffirms each of its obligations under that certain (i) Guaranty of Recourse Obligations and (ii) Environmental Indemnity, each dated as of June 30, 2003, as amended, and confirms that such obligations shall apply and relate in all respects to the Loan and the Loan Documents as amended by this Agreement and the Substitute Notes.

• Notwithstanding anything to the contrary, this Agreement shall not amend the Note or the Substitute Notes and the Substitute Notes shall continue to remain unmodified and in full force and effect.

• All references in any Loan Document to the "Note" shall be deemed to be a reference to the Substitute Notes as amended, restated, modified, consolidated or severed.

• No disposition under Subsection (c) of this Section 7.10 shall release the corporation that originally executed this Agreement from its liability as obligor on the Substitute Notes.

• The Company shall call the Substitute Notes of any Series for prepayment pursuant to Section 4.2 by giving written notice thereof to each holder of an outstanding Substitute Note of such Series, which notice shall be given not less than 30 nor more than 60 days prior to the date fixed for such prepayment in such notice and shall specify the amount so to be prepaid, together with the premium (if any) to be paid thereon and the date fixed for such prepayment.

• In the event of any prepayment pursuant to Section 4.1 or 4.2 of less than all of the outstanding Substitute Notes of any Series, the Company will allocate the principal amount so to be prepaid (but only in units of $1,000) among the Substitute Notes of such Series in proportion, as nearly as may be, to the respective principal amounts thereof not theretofore called for prepayment.

• The initial Depositary for the Notes and any Substitute Notes shall be The Depository Trust Company.

• Notwithstanding the dates thereof, the Substitute Notes carry all of the rights to unpaid interest that were carried by the Original Notes such that no loss of interest shall result from any such substitution.

• The Substitute Series A Notes and the Substitute Series B Notes are hereinafter collectively referred to as the "Substitute Notes".

More Definitions of Substitute Notes

Substitute Notes. Section 4(b)(ii). ---------------- "Taxes" - Section 3.6(b). -----

Substitute Notes shall have the meaning specified in Section 1.4.

Substitute Notes shall have the meaning assigned to it in Section 1.10 hereof.

Substitute Notes means the Substitute Notes to be executed and delivered under the Agreements and any similar security or securities. The Company has not paid, nor agreed to pay, to Dill▇▇, ▇▇ad & Co. Inc. or to any other Person (including, without limitation, the Other Holders) any fee or other compensation (other than for reimbursement for out-of-pocket expenses, if any) in connection with the assumption by the Company of the Existing Notes, the amendment of the Existing Note Purchase Agreements or the restructuring of any other debt of the Company and its Subsidiaries.

Substitute Notes has the meaning set forth in Section 2.14(d).