Back-to-Back Debt definition

Back-to-Back Debt means any loans made or debt instruments issued as part of a Back-to-Back Transaction and in which each party to such Back-to-Back Transaction, other than a Videotron Entity, executes or has executed a subordination agreement in favor of the Holders in substantially the form attached hereto as Exhibit F.

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Back-to-Back Debt means any Indebtedness incurred by the Company that (i) is issued exclusively to WCPT, (ii) is issued simultaneously with the issuance by WCPT of Funding Debt that has identical terms (including principal amount, interest rate, payment amounts and frequency, maturity date, covenants and defaults) to the Back-to-Back Debt issued by the Company and (iii) is funded by WCPT exclusively through the issuance of such Funding Debt.

Back-to-Back Debt means any loans made or debt instruments issued as part of a Back-to-Back Transaction and in which each party to such Back-to-Back Transaction, other than a member of the VL Group, executes a subordination agreement in favor of the Agent in substantially the form attached hereto as Schedule "N";

Examples of Back-to-Back Debt in a sentence

Upon conversion into Common Stock of any portion of the principal amount of Convertible Debt by any holder thereof the same principal amount of the Back-to-Back Debt automatically shall be converted into a number of Membership Units equal to the number of shares of Common Stock into which such portion of the Convertible Debt has been converted.
In addition, any member of the VL Group shall be permitted to dispose of Back-to-Back Preferred Shares in order to repay Back-to-Back Debt, and shall also be permitted to dispose of property as part of a Tax Benefit Transaction, provided that (A) no Default or Event of Default exists at the time and (B) disposing of such Back-to-Back Preferred Shares or property as part of a Tax Benefit Transaction will not cause a Default or an Event of Default.
In addition, the Borrower shall not permit any of its Restricted Subsidiaries, directly or indirectly, to guarantee any other Indebtedness (including Back-to-Back Debt) of the Borrower or any of its Restricted Subsidiaries unless such Restricted Subsidiary is a Subsidiary Guarantor or simultaneously executes and delivers the Subsidiary Guarantee referred to above, which Subsidiary Guarantee shall be senior to or pari passu with such Subsidiary’s guarantee of such other Indebtedness.
The Company shall cause each Person that (a) becomes a Restricted Subsidiary following the Issue Date and (b) guarantees any Indebtedness (including any Back-to-Back Debt or the Existing Back-to-Back Debt) of the Company or any Subsidiary thereof to execute and deliver to the Trustee a Subsidiary Guarantee at the time such Person becomes obligated under any such guarantee.

More Definitions of Back-to-Back Debt

Back-to-Back Debt shall have the meaning ascribed thereto in Section 10.5(c) hereof.

Back-to-Back Debt means any loans made or debt instruments issued as part of a Back-to-Back Transaction and in which each party to such Back- to-Back Transaction, other than the Borrower or a Guarantor, executes a subordination agreement in favour of the Agent in substantially the form attached hereto as Schedule “N”.

Back-to-Back Debt means any loan or debt instrument evidencing a loan described in the definition of Back-to-Back Preferred Shares;