Allowed Payments definition

Allowed Payments means (a) regularly scheduled payments of ---------------- interest (including default interest payable to Subordinated Lender pursuant to the Subordinated Loan Documents) when due under the Senior Subordinated Note, (b) payments of principal pursuant to Section 5(b) of the Senior Subordinated Note, (c) reimbursements of reasonable out-of-pocket expenses of Subordinated Lender pursuant to Section 15 of the Senior Subordinated Note, (d) regularly scheduled payments of the Consulting Fee pursuant to Section 1.5 of the Investor Rights Agreement by among Debtor, Parent and Subordinated Lender dated November 24, 1999, (e) payment of the outstanding principal amount of the Senior Subordinated Note on the Maturity Date (as defined in the Senior Subordinated Note), (f) repayment of the outstanding amount of the Subordinated Debt upon a Permitted Subordinated Note Refinancing, and (g) payment of closing fees to Subordinated Lender that have been consented to by Senior Lender; provided, that -------- prepayments of the Subordinated Indebtedness or payments resulting from either the breach of any covenant or warranty contained in the Subordinated Loan Documents or the acceleration of any amounts due thereunder shall not constitute Allowed Payments.
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Allowed Payments has the meaning assigned to such term in Section 2.02(a).
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Allowed Payments means payments made by, or on behalf of, the Company or a Participating Subsidiary from funds in the Operating Account to purchase Leased Vehicles and Eligible Additional Contracts and to pay Allowed Expenses.
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Examples of Allowed Payments in a sentence

  • Subject to the terms and conditions of this Exhibit D, the Company may designate any Subsidiary of the Company to (i) be a Participating Subsidiary under this Indenture, (ii) engage in the Leasing Business, and (iii) obtain funds from the Operating Account for Allowed Payments on and subject to the same terms and conditions under which the Company may withdraw or apply funds from the Operating Account for Allowed Payments.

  • Debtor may pay to Subordinated Lender, and Subordinated Lender may accept or receive and shall not be required to hold in trust for the benefit of Senior Lender, Allowed Payments, unless and until (a) Subordinated Lender receives a Payment Blockage Notice and for so long as the resulting Blockage Period is in effect or Subordinated Lender is prohibited from receiving payments under Section 7(d), or (b) an Insolvency Proceeding is commenced by or against Debtor.