Once claims are filed, they are preliminarily sorted into secured claims and
unsecured claims.
The court stated in "either circumstance--no actual liability for the interest until the happening of a future event or the economic improbability of payment--furnishes grounds for disallowing the accrual and deduction of interest on
unsecured claims.
Millennium Cell filed a Current Report on Form 8-K with the SEC on Friday, February 16, 2007, that sets forth the terms and conditions of the
Unsecured Debentures, the warrants and the other related offering documents.
In the event of an LBO financed with secured debt, some protection could be afforded to existing
unsecured bondholders by provisions in the indenture covering the two primary sets of
unsecured notes in Con-way's capital structure.
In addition, Fitch upgrades the following national scale ratings on Vitro's outstanding senior
unsecured certificates:
The sustained Rating Watch Negative status acknowledges the potential for Reckson OP's IDR and bonds to migrate below 'BB+', considering the absence of structural firewalls to support Reckson OP's
unsecured bondholders.
The senior notes will be used to refinance the $600 million senior
unsecured credit facility of Intelsat Bermuda, which is a subsidiary of Intelsat, Ltd.
Distributions from the remaining 214,544 shares of common stock reserved for issuance to holders of allowed general
unsecured claims by the Plan will take place on a periodic basis.
In the event that the senior
unsecured and senior subordinated note offerings are not completed by the transaction's close, ARAMARK has in place a committed bridge loan facility to fund the remainder of the transaction's purchase price.
Fitch's affirmation of the IDR and senior
unsecured debt rating takes into account the substantial unencumbered assets of $1,332 million as of Sept.
ACAS has issued, through private placements, $368 million of
unsecured term debt since September 2004 and has increased the size of its
unsecured revolving bank facility from $255 million to $900 million.
Ford will also increase the size of its senior
unsecured convertible note offering from $3 billion to $4.
