Allowed Indebtedness definition

Allowed Indebtedness means any Indebtedness or Preferred Stock, including, without limitation, Indebtedness or Preferred Stock that: (i) is not secured by a Lien; (ii) is (or to the extent that it is) secured by a Lien on assets other than the Collateral; (iii) is secured by a Lien on Collateral which, except for and subject to any release or subordination contemplated in Section 1405 hereof, is inferior to the Liens of the Trustee on such Collateral; (iv) constitutes Acquired Indebtedness, or (v) is incurred between or among Holdings and its Subsidiaries.
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Allowed Indebtedness means any Indebtedness or Preferred Stock that: (i) is not secured by a Lien; (ii) is (or to the extent that it is) secured by a Lien on assets other than the Collateral; (iii) is secured by a Permitted Lien; (iv) constitutes Acquired Indebtedness, or (v) is incurred between or among Holdings and its Subsidiaries.
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Allowed Indebtedness means any of the following: (a) Senior Debt; (b) any Financial Debt specified in the Financial Plan; (c) other guarantees provided in the CTA; (d) any AFACs and any Subordinated Loan; (e) after the Technical Completion Date, commercial debt in aggregate amount not exceeding BRL 20,000,000.00 (twenty million reais), incurred in the normal course of business, and only to the extent that such amounts are incurred in connection with the construction of the Project or, if contemplated in the O&M Budget, operation of the Project; (f) after the Technical Completion Date, Lease Bonds and any other indebtedness incurred by the Issuer to finance the purchase price of basic equipment that is not an integral part of the Project in an aggregate amount of principal not exceeding BRL 30,000,000.00 (thirty million reais), outstanding at any time; (g) obligations of the Issuer in relation to guarantees, guarantee insurance, letters of credit, financial guarantees, completion guarantees or similar instruments that must be delivered in accordance with any Relevant Project Document, as provided in Appendix 17 (Required Credit Support Documents of the Debtor) of the CTA or, otherwise, in a total amount not exceeding BRL 50,000,000.00 (fifty million reais), at any time outstanding, (h) to the extent that it constitutes indebtedness, an indebtedness arising from the satisfaction by a bank or other financial institution of a check, withdrawal or similar instrument against insufficient resources in the normal course of operations or other cash management services in the normal course of business; provided that such indebtedness is extinguished within fifteen (15) Business Days from the date it is incurred; (i) indebtedness consisting solely of the items described in subparagraph (f) of the definition of Permitted Liens; (j) the Parallel Debt; and (k) the obligation to reimburse the Issuer under the Closing Date Letter of Credit Agreement; except that, for the purposes of this definition, any indebtedness incurred, whether actual or contingent, by means of any discount of trade bills or in relation to any credit of a supplier of goods, or under any deferred payment or other similar agreement, shall only be permitted to the extent provided in paragraph (e) of this definition.
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Examples of Allowed Indebtedness in a sentence

  • The monies expended on the City’s real estate portfolio are efficiently and effectively directed to provide the greatest value to the City’s real estate strategies and service delivery requirements 3.

  • Lessee shall not permit any of the Sublessees to incur any Indebtedness other than Allowed Indebtedness, nor with respect to any of their assets, incur any Lien other than Permitted Liens.

  • Including the Debentures for the computation of indebtedness, and reflecting the partial conversion of Series H Debentures since December 31, 2020, such indebtedness would represent 56.1% of the pro forma Gross Book Value as at December 31, 2020, being a percentage that is below the Allowed Indebtedness Threshold.

  • No Borrower Party shall be or become liable as a guarantor, surety or otherwise for any obligation of any other Person or for any Contingent Obligation of any kind except for obligations created by the Allowed Indebtedness.

  • Except as set forth in Item 6.21 ("Allowed Indebtedness for Money Borrowed") of the Disclosure Schedule with respect to Indebtedness as allowed under the Plan of Reorganization, neither the Borrower nor any other Obligor has outstanding, as of the Effective Date, any Indebtedness for Money Borrowed.

  • Including the Debentures for the computation of indebtedness, such indebtedness would represent 64.7% of the pro forma Gross Book Value as at March 31, 2018, being a percentage that is below the Allowed Indebtedness Threshold.

  • Including the Debentures for the computation of indebtedness, such indebtedness would represent 66.8% of the pro forma Gross Book Value as at March 31, 2016, being a percentage that is below the Allowed Indebtedness Threshold.

  • Including the Debentures for the computation of indebtedness, such indebtedness would represent 59.5% of the pro forma Gross Book Value as at June 30, 2020, being a percentage that is below the Allowed Indebtedness Threshold.

  • As of the Closing Date, none of the Borrower Parties shall have any Indebtedness or Contingent Obligations except for the Reimbursement Obligations and the Allowed Indebtedness.

  • As of the Closing Date, none of the Borrower Parties shall have any Indebtedness or Contingent Obligations except for the Loan Obligations and the Allowed Indebtedness.


More Definitions of Allowed Indebtedness

Allowed Indebtedness means any Indebtedness or Preferred Stock the incurrence or issuance of which either (x) is consented to by the Requisite Lenders or (y) that: (i) is not secured by a Lien; (ii) is (or to the extent that it is) secured by a Lien on assets other than the Collateral; (iii) is secured by a Lien on Collateral which, except for and subject to any release or subordination contemplated by Section 1405 hereof, is inferior to the Liens of the Trustee on such Collateral; (iv) is secured by a Permitted Lien; (v) constitutes Acquired Indebtedness; or (vi) is incurred between or among the Company and its Subsidiaries.
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Allowed Indebtedness means (i) the Loan, (ii) trade payables incurred in the normal course of business; provided that such trade payable is payable not more than (90) days after the original invoice date and is not overdue by more than thirty (30) days, and (iii) and Equipment Leases entered into by Lessee or any Sublessee (or Manager on their behalf); provided that the Indebtedness outstanding under such Equipment Leases relating to (A) any Assisted Living Facility having 60 beds or less shall not, at any time, exceed $100,000, in the aggregate for such Assisted Living Facility, and (B) any Assisted Living Facility having more than 60 beds shall not, at any time, exceed $250,000, in the aggregate for such Assisted Living Facility.
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Allowed Indebtedness is defined in Section 1.1 of the Loan Agreement.
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Related to Allowed Indebtedness

  • Adjusted Indebtedness means, at any date, the result of (a) Seller’s Indebtedness on such date, minus (b) the unpaid principal of Seller’s Subordinated Debt on such date (to the extent such Subordinated Debt is excluded from Seller’s Indebtedness in calculating Seller’s Adjusted Tangible Net Worth on such date in accordance with the definition thereof).

  • Permitted Unsecured Indebtedness means Indebtedness of the Borrower or any Restricted Subsidiary (a) that is not (and any Guarantees thereof by the Borrower or Restricted Subsidiaries are not) secured by any collateral (including the Collateral), (b) that does not mature earlier than the date that is 91 days after the latest maturity date under this Agreement then in effect, and has a weighted average life to maturity no shorter than the Class of Term Loans with the latest maturity date in effect at the time of incurrence of such Indebtedness, (c) that, in the case of such Indebtedness in the form of bonds, debentures, notes or similar instrument, does not provide for any amortization, mandatory prepayment, redemption or repurchase (other than upon a change of control, fundamental change, customary asset sale or event of loss mandatory offers to purchase and customary acceleration rights after an event of default and, for the avoidance of doubt, rights to convert or exchange in the case of convertible or exchangeable Indebtedness) prior to the date that is the latest maturity date in effect at the time of incurrence of such Indebtedness, (d) that contains covenants, events of default, guarantees and other terms that are customary for similar Indebtedness in light of then-prevailing market conditions and, when taken as a whole (other than interest rates, rate floors, fees and optional prepayment or optional redemption terms), are not more favorable to the lenders or investors providing such Permitted Unsecured Indebtedness, as the case may be, than those set forth in the Loan Documents are with respect to the Lenders (other than covenants or other provisions applicable only to periods after the latest maturity date under this Agreement then in effect); provided that a certificate of a Financial Officer of the Borrower delivered to the Administrative Agent at least five Business Days prior to the incurrence of such Indebtedness or the modification, refinancing, refunding, renewal or extension thereof (or such shorter period of time as may reasonably be agreed by the Administrative Agent), together with a reasonably detailed description of the material terms and conditions of such resulting Indebtedness or drafts of the material definitive documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the foregoing requirements shall be conclusive, and (e) that is not guaranteed by any Person other than on an unsecured basis by Loan Parties.

  • Unsecured Indebtedness means Indebtedness which is not Secured Indebtedness.

  • Subordinated Indebtedness means any Indebtedness of the Borrower or any Subsidiary the payment of which is subordinated to payment of the obligations under the Loan Documents.

  • Total Secured Indebtedness means (a) all Secured Indebtedness of the Consolidated Group determined on a consolidated basis plus (b) the Consolidated Group Pro Rata Share of Secured Indebtedness attributable to interests in Unconsolidated Affiliates.

  • Secured Indebtedness means any Indebtedness of the Issuer or any of its Restricted Subsidiaries secured by a Lien.

  • Total Unsecured Indebtedness means, as of any date of determination, that portion of Total Indebtedness which does not constitute Total Secured Indebtedness.

  • Senior Secured Indebtedness means, with respect to any Person as of any date of determination, any Specified Indebtedness; provided that such Indebtedness is in each case secured by a Lien on the assets of the Issuer or its Restricted Subsidiaries on a basis pari passu with or senior to the security in favor of the Notes.

  • Estimated Indebtedness has the meaning set forth in Section 2.4(a).

  • Consolidated Senior Secured Indebtedness means, at any time, without duplication, the aggregate principal amount of all Consolidated Funded Indebtedness of the Company and its Restricted Subsidiaries outstanding on such date, determined on a consolidated basis in accordance with GAAP that, as of such date, is secured by a Lien on any asset of the Company or any Restricted Subsidiary.

  • Related Indebtedness means any and all indebtedness paid or payable by Borrower to Administrative Agent or any Lender pursuant to any Loan Document other than any Note.

  • Subordinate Indebtedness means all present and future indebtedness, obligations, and liabilities of Borrower to Subordinate Lender under or in connection with the Subordinate Loan or the Subordinate Loan Documents.

  • Final Indebtedness has the meaning set forth in Section 3.2(b).

  • Consolidated Unsecured Indebtedness means, at any time, the portion of Consolidated Total Indebtedness that is Unsecured Indebtedness.

  • Refinanced Indebtedness shall have the meaning provided in the definition of the term “Permitted Refinancing Indebtedness”.

  • Senior Unsecured Indebtedness means Indebtedness that is not subordinated to any other Indebtedness and is not secured or supported by a guarantee, letter of credit or other form of credit enhancement.

  • Designated Indebtedness means any Indebtedness that has been designated by the Borrower at the time of the incurrence thereof as “Designated Indebtedness” for purposes of this Agreement in accordance with the requirements of Section 6.01.

  • Consolidated First Lien Indebtedness means Consolidated Indebtedness that is secured by a first priority Lien (other than Permitted Liens) on assets of any Borrower or Restricted Subsidiary.

  • Second Lien Indebtedness means the Indebtedness of the Loan Parties owing to the Second Lien Agent and the Second Lien Lenders under the Second Lien Credit Agreement, which Indebtedness is on terms and conditions reasonably acceptable to the Collateral Agent.

  • First Lien Indebtedness means any Indebtedness for borrowed money (which, for the avoidance of doubt, does not include Purchase Money Indebtedness, and any related Liens thereto) secured by a Lien on any assets of the Issuer or any Restricted Subsidiary ranking pari passu with the Liens securing the Notes Obligations.

  • Balloon Indebtedness means Long-Term Indebtedness, 25% or more of the original principal amount of which becomes due (either by maturity or mandatory redemption) during any consecutive twelve-month period, if such principal amount becoming due is not required to be amortized below such percentage by mandatory redemption or prepayment prior to such twelve-month period.

  • Indebtedness means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

  • Convertible Indebtedness means Indebtedness of the Parent that is convertible into common Equity Interests of the Parent (and cash in lieu of fractional shares) and/or cash (in an amount determined by reference to the price of such common Equity Interests).

  • Company Indebtedness means all indebtedness of the Company (including without limitation, any loans, advances, letters of credit, bank overdrafts, capital lease obligations and all other indebtedness of any kind including interest, principal and fees).

  • Restricted Indebtedness means Indebtedness of Holdings, the Borrower or any Subsidiary, the payment, prepayment, repurchase or defeasance of which is restricted under Section 6.09(b).

  • Refinance Indebtedness has the meaning assigned to such term in Section 6.01(f).