Common use of Material Debt Clause in Contracts

Material Debt. (a) the Senior Second Lien Debt, (b) Debt or Contingent Obligations under the AGY Holdings Guarantees and (c) any other Debt (other than the Loans and Letters of Credit) or Bank Product Debt of AGY Holdings or any of its Subsidiaries in an aggregate outstanding principal amount exceeding $7,500,000. For purposes of determining Material Debt, the “principal amount” in respect of any Bank Product Debt of any Obligor at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that such Obligor would be required to pay if the related Bank Product Debt were terminated at such time. Metals: Platinum and Rhodium.

Material Debt. (a) the Senior Second Lien Debt, (b) Debt or Contingent Obligations under the AGY Holdings Guarantees and (c) any other Debt (other than the Loans and Letters of Credit) or Bank Product Debt of AGY Holdings or any of its Subsidiaries in an aggregate outstanding principal amount exceeding $7,500,000. For purposes of determining Material Debt, the “principal amount” in respect of any Bank Product Debt of any Obligor at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that such Obligor would be required to pay if the related Bank Product Debt were terminated at such time. Metals: Platinum and Rhodium.