Debt Capital Markets · glossary
The failures listed in Condition 9.1 that let a holder demand its money back early. Late payment counts only after 7 days for principal or 14 for interest. While a default continues, each holder may make its own Notes due by written notice to the Fiscal Agent, with no vote. Condition 9.1 · Chapter 5 · see Cross-acceleration
Explained in Chapter 5, Negative Pledge and Events of Default, of Debt Capital Markets.
The main page for this term is Event of Default, in Security & Collateral.
The Notes are unsecured and run for 7 years, and holders cannot watch Valkenrade’s business from day to day. Two terms protect them. Condition 3, the negative pledge, stops Valkenrade giving security for other bonds unless holders share it. Condition 9 lists the events of default: the failures that let a holder demand its money back early.Read Chapter 5, Negative Pledge and Events of Default →
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