Additional Permitted Unsecured Debt definition
Additional Permitted Unsecured Debt means unsecured Indebtedness of the Administrative Borrower, which may be guaranteed on an unsecured basis by the Co-Borrowers and the Subsidiary Guarantors, so long as (i) any such Indebtedness does not mature earlier than 91 days after the Maturity Date in effect at the time of the incurrence or issuance of such Indebtedness, (ii) such Indebtedness does not have any scheduled prepayment, amortization, redemption, sinking fund or similar obligations prior to 91 days after such Maturity Date (other than customary offers to purchase upon a change of control or asset sale), (iii) such Indebtedness does not contain any financial maintenance covenants (whether stated as a covenant, default or otherwise), (iv) such Indebtedness otherwise contains terms and conditions (excluding economic terms such as interest rate and redemption premiums) which, taken as a whole, are not more restrictive on the Administrative Borrower and its Restricted Subsidiaries in any material respect than the terms and conditions of the Term Loan Documents as in effect on the Closing Date (provided that a certificate of a Responsible Officer of the Administrative Borrower that is delivered to the Administrative Agent in good faith at least five Business Days prior to the incurrence of such Additional Permitted Unsecured Debt, together with a reasonably detailed description of the material terms and conditions of such Additional Permitted Unsecured Debt or drafts of the documentation relating thereto, stating that the Administrative Borrower has determined in good faith that such terms and conditions satisfy the requirements set forth in this clause (iv) shall be conclusive evidence that such terms and conditions satisfy such requirement unless the Administrative Agent provides notice to the Administrative Borrower of an objection (including a reasonable description of the basis upon which it objects) within five Business Days after being notified of such determination by the Administrative Borrower), and (v) such Indebtedness is not guaranteed by any person other than a Co-Borrower, a Subsidiary Guarantor or Holdings.
Additional Permitted Unsecured Debt means unsecured Indebtedness of the Administrative Borrower, which may be (x) incurred on a joint and several unsecured basis by the Co-Borrower and (y) guaranteed on an unsecured basis by the Co-Borrower (if not a co-issuer thereof) and the Guarantors (other than as provided in the last paragraph of Section 6.01 ), so long as (i) any such Indebtedness does not mature earlier than 91 days after the Latest Maturity Date in effect at the time of the incurrence or issuance of such Indebtedness, (ii) such Indebtedness does not have any scheduled prepayment, amortization, redemption, sinking fund or similar obligations prior to 91 days after such Latest Maturity Date (other than customary offers to purchase upon a change of control or asset sale), (iii) such Indebtedness otherwise contains terms and conditions (excluding economic terms such as interest rate and redemption premiums) which, taken as a whole, are not more restrictive on the Administrative Borrower and its Restricted Subsidiaries in any material respect than the terms and conditions of the Loan Documents as in effect at the time of the incurrence or issuance thereof; provided , however , to the extent that such Indebtedness includes any financial maintenance covenant (whether stated as a covenant, default or otherwise) or a loan to value test in addition to, or more restrictive than, those set forth in this Agreement, such financial covenant or additional or more restrictive loan to value test shall be reasonably acceptable to the Administrative Agent and also shall apply for the benefit of the Lenders hereunder until such time as such Additional Permitted Unsecured Debt containing such financial maintenance covenant or additional or more restrictive loan to value test is paid in full and the Administrative Agent is authorized by the Lenders to amend this Agreement to incorporate such terms (and any related definitions) hereunder ( provided that a certificate of a Responsible Officer of the Administrative Borrower that is delivered to the Administrative Agent in good faith at least five Business Days prior to the incurrence or issuance of such Additional Permitted Unsecured Debt, together with a reasonably detailed description of the material terms and conditions of such Additional Permitted Unsecured Debt or drafts of the documentation relating thereto, stating that the Administrative Borrower has determined in good faith that such terms and conditions satisfy the requirements set forth in this cl...