Reorganization Subordinated Securities

Example Definitions of "Reorganization Subordinated Securities"
Reorganization Subordinated Securities. (a) any equity securities of any Loan Party or any other Person and (b) any debt securities of any Loan Party or any other Person, in each case under clause (a) and (b), that are distributed to any Subordinated Creditor in respect of the Subordinated Debt pursuant to a confirmed plan of reorganization or adjustment and that, in the case of such debt securities, (i) are subordinated in right of payment to the Senior Debt (or any debt securities issued in substitution of all or any portion of the... Senior Debt) to at least the same extent as the Subordinated Debt is subordinated to the Senior Debt, (ii) do not have the benefit of any obligation of any Person (whether as issuer, guarantor or otherwise) unless the Senior Debt has at least the same benefit of the obligation of such Person and (iii) do not have any terms, and are not subject to or entitled to the benefit of any agreement or instrument that has terms, that are more burdensome to the issuer of or other obligor on such debt securities than are the terms of the Senior Debt (or any debt securities issued in substitution of all or any portion of the Senior Debt). View More
Found in NEOPHOTONICS CORP contract
Reorganization Subordinated Securities. (a) any Any debt or equity securities of any Loan Party Borrower or any other Person and (b) any debt securities of any Loan Party or any other Person, in each case under clause (a) and (b), that are distributed to any Subordinated Junior Creditor in respect of the Subordinated Junior Debt owing to Junior Creditor pursuant to a confirmed plan of reorganization or adjustment and that, in the case of such debt securities, (i) that (a) are subordinated in right of payment to the Senior Debt (or... any debt or equity securities issued in substitution of all or any portion of the Senior Debt) to at least the same extent as the Subordinated Junior Debt is subordinated to the Senior Debt, (ii) (b) do not have the benefit of any obligation of any Person (whether as issuer, guarantor or otherwise) unless the Senior Debt has at least the same benefit of the obligation of such Person and (iii) (c) do not have any terms, and are not subject to or entitled to the benefit of any agreement or instrument that has terms, that are more burdensome to the issuer of or other obligor on such debt or equity securities than are the terms of the Senior Debt (or any debt securities issued in substitution of all or any portion of the Senior Debt). Debt. View More
Found in MENDOCINO BREWING CO INC contract
View Variations
All Definitions