By accepting a Note the relevant holder thereof shall be deemed to have agreed to and accepted the terms and conditions of the Intercreditor Agreement // S 154/5 Prospectus NWR 2018 // bei besicherten Bonds ist allerhöchste Aufmerksamkeit auf eventuelle Intercreditor Agreements zu verwenden !!!
Intercreditor agreement
To establish the relative rights of certain creditors under the financing arrangements, at or before the issuance of the
Notes, the Issuer, OKD, OKK and NWR KARBONIA will enter into an intercreditor agreement (the “Intercreditor
Agreement”) with, amongst others, Deutsche Trustee Company Limited, as Trustee for the Notes and trustee for the Existing
Notes and Citibank N.A., London branch as Security Agent.
The Intercreditor Agreement sets out:
• the relative ranking of certain current and future indebtedness permitted by the Indenture that has been or may
be incurred by the Issuer and its subsidiaries; such indebtedness may rank ahead of or pari passu to the Notes
and may be secured by the security over the same assets given as security to the Noteholders, subject to the
terms of the Intercreditor Agreement and any finance documentation then existing (including the Indenture and
the Existing Notes Indenture);
• the relevant ranking of certain security granted by the Issuer and its subsidiaries in respect of the indebtedness
referred to above, including the Existing Notes;
• when payments other than payments of the Existing Notes can be made in respect of that indebtedness
(including intra-group debt);
155
• when enforcement action can be taken in respect of that indebtedness or, in respect of the RCF, the Hedging
Agreements (each as defined below) or the Existing Notes, in respect of that security;
• the procedure of enforcement and the allocation of payments pursuant to an enforcement;
• the terms pursuant to which certain of that indebtedness will be subordinated upon the occurrence of certain
insolvency events;
• turnover provisions; and
• when security and guarantees will be released to permit a sale of an asset subject to security (whether as a result
of enforcement of the security or otherwise).
By accepting a Note the relevant holder thereof shall be deemed to have agreed to and accepted the terms and
conditions of the Intercreditor Agreement. The following description is a summary of certain provisions, among others, that
will be contained in the Intercreditor Agreement that relate to the rights and obligations of the holders of the Notes. It does
not restate the Intercreditor Agreement in its entirety nor does it describe all provisions relating to the rights and obligations
of holders of other classes of debt of the Issuer and it does not define rights (and restrictions on entitlement) of the holders of
the Notes.
To establish the relative rights of certain creditors under the financing arrangements, at or before the issuance of the
Notes, the Issuer, OKD, OKK and NWR KARBONIA will enter into an intercreditor agreement (the “Intercreditor
Agreement”) with, amongst others, Deutsche Trustee Company Limited, as Trustee for the Notes and trustee for the Existing
Notes and Citibank N.A., London branch as Security Agent.
The Intercreditor Agreement sets out:
• the relative ranking of certain current and future indebtedness permitted by the Indenture that has been or may
be incurred by the Issuer and its subsidiaries; such indebtedness may rank ahead of or pari passu to the Notes
and may be secured by the security over the same assets given as security to the Noteholders, subject to the
terms of the Intercreditor Agreement and any finance documentation then existing (including the Indenture and
the Existing Notes Indenture);
• the relevant ranking of certain security granted by the Issuer and its subsidiaries in respect of the indebtedness
referred to above, including the Existing Notes;
• when payments other than payments of the Existing Notes can be made in respect of that indebtedness
(including intra-group debt);
155
• when enforcement action can be taken in respect of that indebtedness or, in respect of the RCF, the Hedging
Agreements (each as defined below) or the Existing Notes, in respect of that security;
• the procedure of enforcement and the allocation of payments pursuant to an enforcement;
• the terms pursuant to which certain of that indebtedness will be subordinated upon the occurrence of certain
insolvency events;
• turnover provisions; and
• when security and guarantees will be released to permit a sale of an asset subject to security (whether as a result
of enforcement of the security or otherwise).
By accepting a Note the relevant holder thereof shall be deemed to have agreed to and accepted the terms and
conditions of the Intercreditor Agreement. The following description is a summary of certain provisions, among others, that
will be contained in the Intercreditor Agreement that relate to the rights and obligations of the holders of the Notes. It does
not restate the Intercreditor Agreement in its entirety nor does it describe all provisions relating to the rights and obligations
of holders of other classes of debt of the Issuer and it does not define rights (and restrictions on entitlement) of the holders of
the Notes.
Keine Kommentare:
Kommentar veröffentlichen