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sinking fund obligation) or mandatory redemption or redemption at the option of the holders thereof (except for redemptions in respect of (i) in the case of convertible Indebtedness, changes in control on terms that are determined in good faith by senior management of the Borrower to be market terms on the date of issuance or (ii) in the case of other Indebtedness, asset sales and changes in control on terms that are determined in good faith by senior management of the Borrower to be market terms on the date of issuance) prior to the date that is 180 days after the Tranche B Maturity Date or, if such Indebtedness is incurred after the Borrower has obtained any Incremental Term Loans or while any Commitments from Additional Lenders to make Incremental Term Loans remain in effect, 180 days after the maturity date for such Incremental Term Loans, unless all such Incremental Term Loans have been repaid in full and all Commitments in respect thereof have been terminated, (b) contains subordination provisions and, if Guaranteed, Guarantee release provisions, in each case that are determined in good faith by senior management of the Borrower to be market terms on the date of issuance, (c) contains covenants and events of default that (i) in the case of convertible Indebtedness, are not less favorable to the Lenders than the comparable terms of the Convertible Notes as determined in good faith by senior management of the Borrower or (ii) in the case of other Indebtedness, are determined in good faith by senior management of the Borrower to be market terms on the date of issuance, provided that such covenants and events of default are not materially more restrictive than the covenants and events of default contained in this Agreement (as determined in good faith by senior management of the Borrower) and do not require the maintenance or achievement of any financial performance standards other than as a condition to the taking of specified actions, (d) bears interest at a fixed rate that is a market rate of interest on the date of issuance of such Indebtedness as determined by the Borrower\u2019s board of directors in good faith and (e) at the option of the Borrower, may contain market optional redemption provisions.", "id": "additional-subordinated-debt", "examples": ["Any such <strong>Additional Subordinated Debt</strong> Securities, together with the Subordinated Debt Securities of the applicable series, will constitute a single series of Subordinated Debt Securities under this Subordinated Debt Securities Indenture and shall be included in the definition of \u201cSubordinated Debt Securities\u201d in this Subordinated Debt Securities Indenture where the context requires.", "The subordination provisions contained in the Initial IDS Subordinated Notes Documents and, on and after the execution, delivery and/or Incurrence thereof, any Subsequent IDS Subordinated Notes Documents and any <strong>Additional Subordinated Debt</strong> Documents, are enforceable against Borrower, the Guarantors party thereto and the holders of such Indebtedness by Agent and Lenders.", "Borrower acknowledges that Agent and each Lender are entering into this Agreement and are extending the Commitments in reliance upon this Section 3.26 and the subordination provisions of the Initial IDS Subordinated Notes Documents and, on and after the execution, delivery and/or Incurrence thereof, of any Subsequent IDS Subordinated Notes Documents and any <strong>Additional Subordinated Debt</strong> Documents.", "The Company may, from time to time, without the consent of the Holders of the Notes, issue <strong>Additional Subordinated Debt</strong> Securities having the same ranking and same interest rate, Maturity, redemption terms and other terms as the Notes of this series, except for the price to the public and issue date and first Interest Payment Date, of the Notes of this series.", "Each Loan Party shall deliver to the Agents complete and correct copies of any amendment, restatement, supplement or other modification to or waiver of the Revolving Loan Documents, the Management Agreement, the Quebec Subordinated Debt Documents, the Montrovest Debt Documents, the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Debt Documents, any <strong>Additional Subordinated Debt</strong> Documents or Organizational Documents.", "Each Loan Party shall deliver to the Administrative Agent complete and correct copies of any amendment, restatement, supplement or other modification to or waiver of the Term Loan Documents, the Management Agreement, the Quebec Subordinated Debt Documents, the Montrovest Debt Documents, the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Debt Documents, any <strong>Additional Subordinated Debt</strong> Documents or Organizational Documents.", "The Vehicle Subsidiary will not own or acquire any assets (other than Vehicles) or incur any liabilities (other than liabilities imposed by law, including tax liabilities, the Guarantee of the Existing Subordinated Debt, the <strong>Additional Subordinated Debt</strong> or any Replacement Subordinated Debt by the Vehicle Subsidiary to the extent permitted by clause (v) of Section 6.01(a), Indebtedness created under the Loan Documents and other liabilities incidental to its existence and permitted business and activities).", "Notwithstanding anything to the contrary contained in this Agreement, the term \u201cMaterial Contract\u201d shall include, for all purposes, each of the following: (i) the Revolving Loan Documents (and any refinancings, renewals or extensions thereof), (ii) the Quebec Subordinated Debt Documents, (iii) the Rolex USA Documents and the Rolex Canada Documents, (iv) the Montrovest Debt Documents, (v) the \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Debt Documents, and (vi) any <strong>Additional Subordinated Debt</strong> Documents.", "The Incurrence of the Revolving Credit Commitment on the Closing Date and any Revolving Credit Advance on the date of borrowing hereunder does not and would not violate the Initial IDS Subordinated Notes Documents and, on after the execution, delivery and/or Incurrence thereof, any Subsequent IDS Subordinated Notes Documents and any <strong>Additional Subordinated Debt</strong> Documents.", "The Incurrence of the Obligations does not violate the Initial IDS Subordinated Notes Documents and, on and after the execution, delivery and/or Incurrence thereof, any Subsequent IDS Subordinated Notes Documents and any <strong>Additional Subordinated Debt</strong> Documents."], "related": [["permitted-subordinated-debt", "Permitted Subordinated Debt", "Permitted Subordinated Debt"], ["permitted-subordinated-indebtedness", "Permitted Subordinated Indebtedness", "Permitted Subordinated Indebtedness"], ["senior-subordinated-debt", "Senior Subordinated Debt", "Senior Subordinated Debt"], ["eligible-subordinated-debt", "Eligible Subordinated Debt", "Eligible Subordinated Debt"], ["junior-subordinated-debt", "Junior Subordinated Debt", "Junior Subordinated Debt"]], "related_snippets": [], "updated": "2025-07-27T04:27:07+00:00"}, "json": true, "cursor": ""}}