I believe that if they sell the assets that are held as a lien then yes it may trigger a payout of the notes at the noteholders discretion. If that happens then the premium may not have to be paid. If the noteholders decide not to trigger a payout then the cash that comes in is still held as a lien and anything that is to be done with it will need note holder approval.

I for one think it is a good move, providing they get market value.