Issuance of Other Indebtedness Sample Clauses

Issuance of Other Indebtedness. In the event of the issuance of any Permitted Senior Notes Debt permitted pursuant to Section 7.1(o), the Global Administrative Agent and the Required Lenders shall have the option, on not more than one occasion in connection with each such issuance, to reduce the Global Borrowing Base by an amount agreed to by the Required Lenders, which reduction amount shall not be greater than the applicable Debt Issuance Reduction Amount calculated with respect to such Permitted Senior Notes Debt then most recently issued; provided, that, (i) in the event the Required Lenders are unable to agree upon any such reduction amount provided for in this Section 2.7(h) within thirty (30) days of the issuance of any such 44 Permitted Senior Notes Debt, the Global Borrowing Base shall reduce by an amount equal to the applicable Debt Issuance Reduction Amount calculated with respect to such Permitted Senior Notes Debt then most recently issued, and (ii) notwithstanding the foregoing or anything to the contrary contained in any Combined Loan Document, if and only to the extent the Parent uses any of the proceeds of the issuance of any Permitted Senior Notes Debt to contemporaneously refinance or replace any of the Existing Subordinate Debt and/or any other Permitted Senior Notes Debt in accordance with the last sentence of Section 7.14 of the U.S. Credit Agreement, then the provisions of this Section 2.7(h) shall not apply, and the Global Borrowing Base shall not be reduced pursuant to the provisions of this Section 2.7(h), in each case only to the extent such proceeds are so used. In connection with any such reduction, the Global Administrative Agent shall promptly provide written notice to the Parent, the Borrower and the Combined Lenders of the reduction of the Global Borrowing Base. Upon the approval of the Required Lenders of such reduction amount, or, alternatively, upon any reduction by an amount equal to the Debt Issuance Reduction Amount, and the delivery of written notice thereof to the Parent and the Borrower, the Global Borrowing Base shall be reduced as of the date such notice is delivered or such later date as specified in such notice. Notwithstanding anything to the contrary in the Combined Loan Documents, (A) the language of the proviso of Section 2.10(b)(i) of this Agreement shall not apply to any Global Borrowing Base Deficiency resulting from the application of this Section 2.7(h) and (B) the application of this Section 2.7(h) shall never result in an increase ...
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Issuance of Other Indebtedness. In the event that the principal amount of unsecured Indebtedness incurred by the Loan Parties as permitted by Section 7.2.1(vii) hereof exceeds One Hundred Fifty Million and 00/100 Dollars ($150,000,000.00) in the aggregate, the Revolving Credit Commitments shall be reduced by and the Borrower shall pay or prepay Loans in (subject to Borrower's indemnity obligations under Sections 3.4 [Euro-Rate Unascertainable; Illegality, etc.] and 4.6 [Additional Compensation in Certain Circumstances]) an amount equal to the Net Proceeds in excess of One Hundred Fifty Million and 00/100 Dollars ($150,000,000.00); provided, however, that the Borrower's obligation to pay or prepay the Loans under this Section shall be limited to the amount necessary to ensure that the aggregate amount of all Revolving Credit Loans, Bid Loans, Swing Loans and Letters of Credit Outstanding do not exceed the Revolving Credit Commitments of all of the Banks as reduced by this Section 4.5.2.
Sample 1
Issuance of Other Indebtedness. In the event of the issuance of (i) any Subordinated Debt permitted pursuant to Section 7.1(b) in excess of an aggregate amount of $70,000,000 for all Subordinated Debt issued pursuant to Section 7.1(b) or (ii) any Indebtedness permitted pursuant to Sections 7.1(o) and 7.1(p)”.
Sample 1
Issuance of Other Indebtedness. So long as this Note is outstanding, the Company shall not directly or indirectly, incur or guarantee, assume or suffer to exist any indebtedness which shall rank senior to the Note, other than the Pari Passu Indebtedness and commercial debt.
Sample 1

Related to Issuance of Other Indebtedness

  • Prepayments of Other Indebtedness Modifications of Organizational Documents and Other Documents, etc. 90 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 90 SECTION 6.13 [Reserved.] 91 SECTION 6.14 [Reserved.] 91 SECTION 6.15 Business 91 SECTION 6.16 Limitation on Accounting Changes 91 SECTION 6.17 Fiscal Year 91 SECTION 6.18 No Further Negative Pledge 91 SECTION 6.19 Anti-Terrorism Law; Anti-Money Laundering 92 SECTION 6.20 Embargoed Person 92 ARTICLE VII GUARANTEE SECTION 7.01 The Guarantee 93 SECTION 7.02 Obligations Unconditional 93 SECTION 7.03 Reinstatement 94 SECTION 7.04 Subrogation; Subordination 94 SECTION 7.05 Remedies 94 SECTION 7.06 Instrument for the Payment of Money 95 SECTION 7.07 Continuing Guarantee 95 SECTION 7.08 General Limitation on Guarantee Obligations 95 SECTION 7.09 Release of Guarantors 95 SECTION 7.10 Right of Contribution 95 ARTICLE VIII EVENTS OF DEFAULT SECTION 8.01 Events of Default 96 SECTION 8.02 Rescission 98 SECTION 8.03 Application of Proceeds 98 ARTICLE IX THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT SECTION 9.01 Appointment and Authority 99 SECTION 9.02 Rights as a Lender 99 SECTION 9.03 Exculpatory Provisions 99 SECTION 9.04 Reliance by Agent 100 SECTION 9.05 Delegation of Duties 101

  • No Other Indebtedness On the Closing Date and after giving effect to the transactions contemplated hereby, none of the Loan Parties nor any of their Subsidiaries have any Indebtedness other than Indebtedness permitted under Section 8.1.

  • Prepayment of Other Indebtedness, Etc (a) Amend or modify any of the terms of any Indebtedness of any Loan Party or any Subsidiary (other than Indebtedness arising under the Loan Documents) if such amendment or modification would add or change any terms in a manner adverse to any Loan Party or any Subsidiary, or shorten the final maturity or average life to maturity or require any payment to be made sooner than originally scheduled or increase the interest rate applicable thereto.

  • Default as to Other Indebtedness The Borrower or any of its Subsidiaries shall fail to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) with respect to any Indebtedness (other than Indebtedness hereunder, but including, without limitation, Disqualified Stock), beyond any period of grace provided with respect thereto, which individually or together with other such Indebtedness as to which any such failure exists has an aggregate outstanding principal amount in excess of $5,000,000; or any breach, default or event of default shall occur, or any other condition shall exist under any instrument, agreement or indenture pertaining to any such Indebtedness having such aggregate outstanding principal amount, beyond any period of grace, if any, provided with respect thereto, if the effect thereof is to cause an acceleration, mandatory redemption, a requirement that the Borrower offer to purchase such Indebtedness or other required repurchase of such Indebtedness, or permit the holder(s) of such Indebtedness to accelerate the maturity of any such Indebtedness or require a redemption or other repurchase of such Indebtedness; or any such Indebtedness shall be otherwise declared to be due and payable (by acceleration or otherwise) or required to be prepaid, redeemed or otherwise repurchased by the Borrower or any of its Subsidiaries (other than by a regularly scheduled required prepayment) prior to the stated maturity thereof.

  • Default on Other Indebtedness A default shall occur (i) in the payment when due (subject to any applicable grace period), whether by acceleration or otherwise, of any Indebtedness, other than Indebtedness described in Section 8.1.1, of the Borrower or any of its Subsidiaries or any other Obligor having a principal amount, individually or in the aggregate, in excess of $3,000,000, or (ii) a default shall occur in the performance or observance of any obligation or condition with respect to such Indebtedness if the effect of such default is to accelerate the maturity of any such Indebtedness or such default shall continue unremedied for any applicable period of time sufficient to permit the holder or holders of such Indebtedness, or any trustee or agent for such holders, to cause such Indebtedness to become due and payable prior to its expressed maturity.

  • Other Indebtedness Create, incur, assume or permit to exist any indebtedness or liabilities resulting from borrowings, loans or advances, whether secured or unsecured, matured or unmatured, liquidated or unliquidated, joint or several, except (a) the liabilities of Borrower to Bank, and (b) any other liabilities of Borrower existing as of, and disclosed to Bank prior to, the date hereof.

  • Payment of Taxes and Other Indebtedness Each Credit Party will, and will cause each of its Subsidiaries to, pay and discharge (a) all taxes, assessments and governmental charges or levies imposed upon it, or upon its income or profits, or upon any of its properties, before they shall become delinquent, (b) all lawful claims (including claims for labor, materials and supplies) which, if unpaid, might give rise to a Lien upon any of its properties, and (c) except as prohibited hereunder, all of its other Indebtedness as it shall become due; provided, however, that no Consolidated Party shall be required to pay any such tax, assessment, charge, levy, claim or Indebtedness which is being contested in good faith by appropriate proceedings and as to which adequate reserves therefor have been established in accordance with GAAP, unless the failure to make any such payment (i) could give rise to an immediate right to foreclose on a Lien securing such amounts or (ii) could have a Material Adverse Effect.

  • Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except:

  • Default Under Other Indebtedness Borrower or any Guarantor fails to pay any indebtedness (other than the Loan) owed by Borrower or such Guarantor to Lender when and as due and payable (whether by acceleration or otherwise).

  • No Outstanding Loans or Other Indebtedness Except as described in the Prospectus, there are no outstanding loans, advances (except normal advances for business expenses in the ordinary course of business) or guarantees or indebtedness by the Company to or for the benefit of any of the officers or directors of the Company or any of the members of any of them.

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