Rite Aid Corporation · Bankruptcy · 2023 · 8.000% Senior Secured Notes due 2026
Is the instrument Not Contingent (principal not reducible for a reason other than payment)?
Verified answer
Basis. No clause making principal contingent on an event other than payment was found in the documents.
Source clauses
Decided by absence: no clause making principal contingent was found.How it was checked · 2 checks
- Rule re-applied. The Not Contingent rule (v1.0), re-applied to the stored facts, gives the same result as the Mastermind v3 run of 2026-09-25.
- Absence confirmed. The record contains no clause making principal contingent on an event other than payment; a separate heuristic extractor finds no such clause either.
Not Contingent
Principal must not be reducible by reason of contingencies other than payment. This is a CDSBench check: under the 2014 ISDA Definitions contingency is handled through the Outstanding Principal Balance rather than as a separate characteristic.
These checks are CDSBench's provisional reading of the 2014 ISDA Credit Derivatives Definitions, not legal advice.
Instrument: 8.000% Senior Secured Notes due 2026
Source documents
The case record. Sections behind the verified answer are marked.
- DOC-1 Rite Aid 8-K/A (Amendment No. 1), Item 1.03 Bankruptcy, Chapter 11 petition 2023-10-15excerpts
- DOC-2 Rite Aid original 8-K filed 2023-10-16 (Items 1.03 and 2.04)excerpts
- DOC-3 Indenture dated July 27, 2020, 8.000% Senior Secured Notes due 2026 (EX-4.1)excerpts
Related questions and cases
Same case
- #1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?Eligible
- #2 Does the instrument meet the Maximum Maturity characteristic (30 years)?Yes
- #3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?Yes
- #4 Does the instrument meet the Not Subordinated characteristic?Yes
- #5 Does the instrument meet the Not Bearer characteristic?Yes
- #7 Does the instrument meet the Transferable characteristic?Yes
- #8 Is the issuer of the instrument the Reference Entity?Yes
Similar cases
No similar cases yet
Mastermind
Analyse a case like this
Mastermind analyses your own documents the same way: each conclusion tied to the clause behind it.