Examples of Tranche A Notes in a sentence
Each of the Tranche A Notes and the Tranche B Notes shall be rated “BBB-” (or its equivalent) or better by DBRS or another NRSRO, which rating shall specifically describe such tranche of Notes, including their interest rate, maturity and Private Placement Number.
The “Interest Payment Dates” for the Notes shall be February 15, May 15, August 15 and November 15 of each year, commencing, with respect to the Tranche A Notes, February 15, 2024 and, with respect to the Tranche B Notes, November 15, 2024; provided that if such date is not a Business Day, then the Interest Payment Date shall be the immediately succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day.
The Company covenants and agrees that, at its sole cost and expense, it shall cause to be maintained at all times a Rating for each of the Tranche A Notes and the Tranche B Notes from at least one NRSRO.
If the holders of more than 25% of the principal amount of either the Tranche A Notes or Tranche B Notes then outstanding accept such offer, the Company shall promptly notify the remaining holders of such tranche of Notes of such fact and the expiration date for the acceptance by holders of such tranche of Notes of such offer shall be extended by the number of days necessary to give each such remaining holder at least 10 Business Days from its receipt of such notice to accept such offer.
The Company applied the proceeds of the sale of the Tranche A Notes to repay existing Indebtedness, fund new Investments and for general corporate purposes.