PROPOSED PAYMENT OF PRINCIPAL AND INTEREST TO SECURED CREDITORS Sample Clauses

PROPOSED PAYMENT OF PRINCIPAL AND INTEREST TO SECURED CREDITORS. The conditions to be set forth in this Chapter IV shall be reflected in new instruments (hereinafter the “New Indenture” and the “New International Bonds” and, together, the “New Instruments) which shall replace /i/ the instrument referred to as the “Indenture,” dated May 16, 2017, pursuant to which the Company undertook a placement of securities representing debt in the international markets under the auspices of Regulation 144A and Regulation S of the United States Securities and Exchange Commission and the Securities Act of 1933, through an agreement for the issuance of international bonds of Enjoy S.A. (hereinafter the “Indenture” and its bondholders, hereinafter the “International Bondholders”), and; /ii/ the debt instruments issued under said Indenture (hereinafter the “International Bonds”). This exchange will occur upon fulfillment of the Financing Condition (as described below in this Agreement), through the issuance and delivery of new International Bonds to be issued in two distinct tranches, aimed at Senior and Junior International Bondholders (as these terms are defined below in this Agreement) which shall be identical, with the exception of the aspects regulated in Numerals 3.- and 4.- of this Chapter IV. The New Instruments shall be issued as one or more global securities registered in the name of Cede & Co. as Registration Holder, and as nominee of The Depository Trust Company, in the same form as the International Bonds and the Indenture were issued. Once the Financing Condition is fulfilled, the International Bonds and the Indenture shall be considered canceled and shall not be retroactively valid as from the date of the Deliberative Meeting [Junta Deliberativa], and the New Instruments shall take their place. In all aspects not regulated by this Reorganization Agreement, the obligations of Enjoy S.A. as contained in the Indenture and in the International Bonds, including real and personal guarantees, shall be maintained in the New Instruments. To facilitate analysis of the changes proposed in this Chapter IV, attached as Appendix No. 1 is a summary of the principal changes to be made to the Indenture and the International Bonds. 1 Hereinafter, all references to figures in pesos refer to Chilean pesos. 1.- New term for repayment of the loans: 2.- Interest: a.- Interest accrued up to the date of the Deliberative Meeting:
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PROPOSED PAYMENT OF PRINCIPAL AND INTEREST TO SECURED CREDITORS. Guaranteed creditors are holders of debt issued under the instrument referred to as the “Indenture,” dated May 16, 2017, supplemented by the instrument known as “Supplemental Indenture No. 1” dated May 30, 2017, entered into between the Company, as issuer, its guarantor subsidiaries (“Guarantors”) and Citibank N.A. as International Bondholders Representative or Trustee2 (hereinafter the “Indenture”), concerning the guaranteed bonds maturing in 2022 (10.50% Senior Secured Notes due to 2022) placed by the Company in the international markets under US Securities and Exchange Commission Rule 144A and Regulation S and the US Securities Act of 1933 (hereinafter the “International Bonds,” with their holders or final beneficiaries being the “International Bondholders”3) As explained further below, under the Agreement the International Bonds will be extended and, subject to the Renegotiation Conditions (as this term is defined further below), renegotiated without intent to substitute, with said renegotiation reflected in a new Indenture, new bonds, and the guarantee documents needed in 1 Hereinafter, all references to figures in pesos refer to Chilean pesos.
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Related to PROPOSED PAYMENT OF PRINCIPAL AND INTEREST TO SECURED CREDITORS

  • Payment of Principal and Interest The Company covenants and agrees that it will cause to be paid the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes.

  • Payment of Principal and Interest; Defaulted Interest (a) Each Class of Notes shall accrue interest at the related Interest Rate, and such interest shall be due and payable on each Payment Date as specified therein, subject to Sections 3.01 and 11.12 hereof. Any installment of interest or principal, if any, payable on any Note that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check mailed first-class postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.11, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payment will be made by wire transfer in immediately available funds to the account designated by such nominee and except for the final installment of principal payable with respect to such Note on a Payment Date, a Redemption Date or on the related Final Scheduled Payment Date, as the case may be (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01), which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03. (b) The principal of each Note shall be payable as provided in Section 8.02(d) hereof. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable, if not previously paid, on the related Final Payment Date or the date on which an Event of Default shall have occurred and be continuing, if the Indenture Trustee or Holders of the Notes representing not less than a majority of the Outstanding Amount have declared the Notes to be immediately due and payable in the manner provided in Section 5.02. All principal payments on each Class of Notes shall be made pro rata to the Noteholders of such Class entitled thereto. The Indenture Trustee shall notify the Person in whose name a Note is registered at the close of business 5 Business Days preceding the Payment Date on which the Issuer expects that the final installment of principal of and interest on such Note will be paid. Such notice shall be mailed or transmitted by facsimile prior to such final Payment Date and shall specify that such final installment will be payable only upon presentation and surrender of such Note and shall specify the place where such Note may be presented and surrendered for payment of such installment. Notices in connection with redemptions of Notes shall be mailed to Noteholders as provided in Section 10.02. In addition, the Administrator shall notify each Rating Agency upon the final payment of interest and principal of each Class of Notes, and upon the termination of the Trust, in each case pursuant to Section 1.02(a)(iii) of the Administration Agreement. (c) If the Issuer defaults in a payment of interest on the Notes, the Issuer shall pay defaulted interest (plus interest on such defaulted interest to the extent lawful) at the applicable Interest Rate in any lawful manner. The Issuer may pay such defaulted interest to the Persons who are Noteholders on a subsequent special record date, which date shall be at least 5 Business Days prior to the next payment date. The Issuer shall fix or cause to be fixed any such special record date and related payment date, and, at least 15 days before any such special record date, the Issuer shall mail to each Noteholder a notice that states the special record date, the payment date and the amount of defaulted interest to be paid.

  • Payments of Principal and Interest (a) The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes shall accrue interest during each Interest Period at the Class A-1 Rate, the Class A-2 Rate, the Class A-3 Rate, the Class A-4 Rate and the Class B Rate, respectively, and such interest shall be payable on each related Payment Date as specified in such Notes, pursuant to Section 5.06 of the Sale and Servicing Agreement and Section 3.01 hereof. Any installment of interest or principal payable on any Note that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by wire transfer in immediately available funds to the account designated by such Person. (b) The principal of each Note shall be payable in installments on each Payment Date pursuant to Section 5.06 of the Sale and Servicing Agreement and subject to the availability of funds therefor. All principal payments on each Class of Notes shall be made pro rata to the Noteholders of such Class entitled thereto. In accordance with Section 10.01, the Indenture Trustee shall notify the Person in whose name a Note is registered at the close of business on the Record Date preceding the Payment Date on which the final installment of principal of and interest on such Note will be paid. Such notice shall be mailed or transmitted by facsimile not less than 15 nor more than 30 days prior to such final Payment Date, shall specify that such final installment will be payable only upon presentation and surrender of such Note and shall specify the place where such Note may be presented and surrendered for payment of such installment. (c) In the event that any withholding tax is imposed on the Trust’s payment (or allocations of income) to the Noteholders, such tax shall reduce the amount otherwise distributable to the Noteholders in accordance with this Section. The Issuer will instruct the Indenture Trustee regarding the imposition of such withholding tax and, upon receiving such instruction, the Indenture Trustee is hereby authorized and directed to retain from amounts otherwise distributable to the Noteholders sufficient funds for the payment of any tax that is legally owed by the Trust (but such authorization shall not prevent the Indenture Trustee from contesting any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax imposed with respect to the Noteholders shall be treated as cash distributed to the Noteholders at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to any distribution (such as any distribution to a Non-U.S. Person), the Indenture Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c). In the event that any Noteholder wishes to apply for a refund of any such withholding tax, the Indenture Trustee shall reasonably cooperate with the Noteholder in making such claim so long as the Noteholder agrees to reimburse the Indenture Trustee for any out-of-pocket expenses incurred.

  • Payments of Principal and Interest Prepayments Fees Section 3.01 Repayment of Loans 33 Section 3.02 Interest 33 Section 3.03 Alternate Rate of Interest 34 Section 3.04 Prepayments 35 Section 3.05 Fees 36

  • Unconditional Rights of Noteholders to Receive Principal and Interest Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates thereof expressed in such Note or in this Indenture (or, in the case of redemption, on or after the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.