82,893
edits
Covenant to pay: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 5: | Line 5: | ||
''[The Issuer can satisfy that obligation by payment to the Issuing and Paying Agent, provided the Issuing and Paying Agent then pays Noteholders.]''<ref>We bracket this bit because it is common, but we think, a bit stupid.</ref> | ''[The Issuer can satisfy that obligation by payment to the Issuing and Paying Agent, provided the Issuing and Paying Agent then pays Noteholders.]''<ref>We bracket this bit because it is common, but we think, a bit stupid.</ref> | ||
The Trustee holds this covenant on trust for the Noteholders.}}}}You might wonder what on ''Earth'' this is all about, especially if you encounter it cast | The Trustee holds this covenant on trust for the Noteholders.}}}}You might wonder what on ''Earth'' this is all about, especially if you encounter it cast in wrought iron with that impenetrable prose that the School Matron beats into Linklaters trainees with her rolling pin, during their Debt Capital Markets seat. You know it is true, [[Linklaters]] people. | ||
So, in brief: | So, in brief: | ||