50% Notes due 2029 (the "1999 Indenture
Notes") were issued under the indenture
dated as of February 3, 1999 (as amended and supplemented to the date hereof, the "1999 Indenture
" and, together with the 1995 Indenture
, the "Indentures
"), between the Company and U.
Not including the 2007 Series A issuance, 50% of the bonds outstanding under the indenture
are in the variable-rate mode.
The $700 million in payments represent the "first opt-out payments" under the new Executive Life rehabilitation plan, the approval of which is also being appealed by the indenture
trustees represented by Pillsbury.
2 (fka Union Financial Services)-2000 Indenture
of Trust 2001-A
The tender offer is subject to several conditions, including, among other things, the Company's receipt of proceeds from a new issuance of debt securities or a new second lien credit facility, which proceeds must be sufficient (and, under the terms of the agreements governing the Company's indebtedness, are permitted to be used) to pay the aggregate total consideration and/or the purchase price for the Notes accepted in the tender offer; a minimum tender condition; receipt of the requisite consents and execution of a supplemental indenture
and execution of an amendment terminating the registration rights agreement.
The letters state that KB Home is in default under the indentures
because it has not delivered to the trustee a copy of KB Home's Quarterly Report on Form 10-Q for the quarter ended August 31, 2006 (the "Third Quarter 10-Q").
Under the master trust indenture
, management was required to set aside debt service reserve funds for subordinate lien bonds, which are secured by a pledge of subordinate airport system net revenues and an irrevocable commitment of receipts under a $44.
KB Home has notified the senders of this letter, and the trustee under the Indenture
, that the letter does not satisfy the indenture
requirements for a notice of default, in part because the letter fails to take into account the 15 day period following the Securities and Exchange Commission filing date as specified in the reporting covenant at issue.
NTL Cable PLC is soliciting the consent of holders of the 2004 Notes to conform the reporting obligations under the 2004 Notes Indenture
to the reporting obligations under the 2006 Notes Indenture
Holders of the Notes may request copies of the supplements to the Indentures
by contacting Investor Relations at KCSR at 427 West 12th Street, Kansas City, Missouri 64105 (telephone 816-983-1551).
s (Motorola) market capitalization over the past few months to below $50 billion, Fitch Ratings has examined LBO risk for Motorola by assessing the level of bondholder protection provided by bond indentures
, specifically change of control provisions and limitations on secured debt.
The filing of the Quarterly Report cures the alleged default under the indentures
governing each of the Company's outstanding series of notes.