Conducting the required works at the subordinated security
Subscribers of the Debentures ( Debentureholders ) are provided with subordinated security
over the personal property of the Company and its subsidiary, BioExx Proteins of Saskatoon Inc.
said Thursday it will raise 200 billion yen in funds by issuing a new type of subordinated security
called trust preferred securities worth 100 billion yen and Euroyen-denominated convertible bonds of another 100 billion yen.
Fitch applied a three-notch negative differential based on the nature of iStar's perpetual preferred stock - a deeply subordinated security
that has weak terms and remedies available both before and after a general corporate default (e.
units at Police stations at subordinated Security
Directorates in Cairo, Giza, Kalioubiya, Fayyoum, Beheira, Sharkiya & Menoufiya.
5 million and to provide a subordinated security
interest in Verticalnet's assets to the holder of the discount note.
The transaction is expected to close by February 16, 2004, subject to certain closing conditions, including: executing and delivering to Michigan a registration rights agreement whereby the company agrees to file a registration statement relating to the resale of any shares of the company's common stock issued upon the conversion of the notes; granting Michigan a subordinated security
interest on the building and equipment comprising the company's South Korea manufacturing facility; granting Michigan a security interest in certain patents owned by the company; Michigan obtaining standard regulatory approvals for investment of funds outside of the Republic of Korea; and other customary closing conditions.
The Company is unable to determine with reasonable certainty the cash flow impact of the Company's possible disqualification from the Visa program until its payment processor responds to the Company's request to cease withholding additional cash reserves and to restructure the existing reserve agreement to provide for an alternative form of collateral, such as a permitted subordinated security
interest in the Company's membership renewal base.
The new agreement, which matures April 15, 2002 (which may be extended if Amcast meets certain conditions), provides for the ability to make new borrowings initially up to $15 million, increasing in stages to a maximum of $35 million (based on the company meeting certain conditions), and provides a primary security interest in the company's assets to the lenders, as well as a subordinated security
interest to the members of the bank lending group under the existing agreement and to the holders of the senior notes.
The pledged subordinated notes are secured by a subordinated security
interest in the undivided interests of the owner trusts of the Midland facility and certain of their rights under the related leases (including the rent reserve and various insurance policies).
also able to sell a subordinated security
as part of the
In exchange for the financing proceeds, the Company issued its $1,125,000 principal amount note, due on June 1, 2001, bearing interest at prime rate plus 2%, and secured by a subordinated security
interest in all the assets of the Company.