Consolidated Senior Secured First Lien Indebtedness definition

Consolidated Senior Secured First Lien Indebtedness means, as of any date of determination, (a) the aggregate amount of Senior Secured First-Lien Indebtedness of Holdings, the Borrower and the Restricted Subsidiaries outstanding on such date, determined on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting from the application of acquisition method accounting in connection with the Original Transaction, any Permitted Acquisition or other Investment permitted hereunder) consisting only of Senior Secured First-Lien Indebtedness for borrowed money, obligations in respect of Capitalized Leases and debt obligations evidenced by promissory notes or similar instruments, minus (b) the aggregate amount of cash and Cash Equivalents, excluding cash and Cash Equivalents which are listed as “restricted” on the consolidated balance sheet of Holdings, the Borrower and its Restricted Subsidiaries as of such date; provided that Consolidated Senior Secured First-Lien Indebtedness shall not include Indebtedness in respect of (i) any Qualified Securitization Financing, (ii) all Letters of Credit, except to the extent of Unreimbursed Amounts thereunder, (iii) Unrestricted Subsidiaries and (iv) obligations under Swap Contracts.
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Consolidated Senior Secured First Lien Indebtedness means, as of any date of determination, the aggregate amount of Consolidated Total Indebtedness of Bidco and the Loan Parties outstanding on such date that is not subordinated in right of payment to the Loan Document Obligations and that is secured by a Lien on the Collateral on an equal priority basis with Liens on the Collateral securing the Loan Document Obligations (including, for avoidance of doubt, the Loan Document Obligations), determined on a consolidated basis in accordance with IFRS.
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Consolidated Senior Secured First Lien Indebtedness means, as of any date of determination, Consolidated Total Indebtedness as of such date that is not subordinated in right of payment to the Secured Obligations (as defined in the Secured Notes Collateral Agreement) and that is secured by a Lien on the Pari Notes Debt Collateral (as defined in the ABL/Bond Intercreditor Agreement) on an equal priority basis with Liens on the Collateral securing the Secured Obligations (as defined in the Secured Notes Collateral Agreement) (including, for the avoidance of doubt, the Secured Obligations (as defined in the Secured Notes Collateral Agreement)).
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Examples of Consolidated Senior Secured First Lien Indebtedness in a sentence

  • Consolidated Senior Secured First Lien Indebtedness as of such date and (ii) the Reserved Indebtedness Amount applicable at such time to the calculation of the Senior Secured First Lien Net Leverage Ratio with respect to commitments first obtained as of such date but not utilized as of such date (but only the extent such commitments are being obtained in reliance on a test based on such ratio) to (b) Consolidated EBITDA for the most recently ended Test Period as of such date.


More Definitions of Consolidated Senior Secured First Lien Indebtedness

Consolidated Senior Secured First Lien Indebtedness means, as of any date of determination, Consolidated Total Indebtedness as of such date that is not subordinated in right of payment to the Loan Document Obligations and that is secured by a Lien on the Collateral on an equal priority basis with Liens on the Collateral securing the Loan Document Obligations (including, for the avoidance of doubt, the Loan Document Obligations).
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Consolidated Senior Secured First Lien Indebtedness means, as of any date of determination, all Consolidated Funded Indebtedness that, as of such date, is secured by a first priority Lien on any asset or property of the Borrower or any of its Restricted Subsidiaries.
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Consolidated Senior Secured First Lien Indebtedness means, as of any date of determination, the aggregate amount of Consolidated Total Indebtedness that is not subordinated in right of payment to the First Lien Loan Document Obligations and that is secured by a Lien on the Collateral on a pari passu basis with the Liens granted under the First Lien Security Documents in favor of the First Lien Administrative Agent for the benefit of the Secured Parties, in all respects, minus the aggregate amount of cash and Permitted Investments (in each case, free and clear of all liens, other than Liens permitted pursuant to Section 6.02), in an aggregate amount not to exceed $25,000,000 excluding cash and Permitted Investments that are listed as “restricted” on the consolidated balance sheet of the Borrower and the Restricted Subsidiaries as of such date unless “restricted” in favor of the Facilities (which may also secure other Indebtedness secured by a pari passu or junior lien on the Collateral along with the Facilities).
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Consolidated Senior Secured First Lien Indebtedness means, as of any date of determination, the aggregate amount of Indebtedness and Disqualified Equity Interests of Holdings and the Restricted Subsidiaries outstanding on such date that is not subordinated in right of payment to the Loan Document Obligations and that is secured by a Lien on the Collateral on an equal priority basis with Liens on the Collateral securing the Secured Obligations (but without
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Consolidated Senior Secured First Lien Indebtedness means, as of any date of determination, the sum, without duplication, of (a) the aggregate principal amount of Funded Indebtedness of the Borrower and the Restricted Subsidiaries (other than Inmarsat and its Restricted Subsidiaries) outstanding on such date that is not subordinated in right of payment to the Loan Document Obligations and that is secured by a Lien on the Collateral on an equal priority basis with the Liens on the Collateral securing the Loan Document Obligations (including, for the avoidance of doubt, the Loan Document Obligations), determined on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting from the application of the acquisition method accounting in connection with the Inmarsat Transactions or any Permitted Acquisition (or other Investment not prohibited hereunder)), minus the aggregate amount of cash and Cash Equivalents of the Borrower and the Restricted Subsidiaries (other than Inmarsat and its Restricted Subsidiaries) (in each case, free and clear of all liens, other than Liens permitted pursuant to Section 6.02), excluding any such cash and Cash Equivalents that are listed as “restricted” on the consolidated balance sheet of the Borrower and such Restricted Subsidiaries as of such date (other than, for the avoidance of doubt, solely due to the fact that such cash and Cash Equivalents are restricted in favor of holders (or an agent on their behalf) of Funded Indebtedness of the Borrower and such Restricted Subsidiaries) and the cash proceeds of Indebtedness incurred in any transaction for which the Senior Secured First Lien Net Leverage Ratio is being tested, but including cash and Cash Equivalents subject to a Permitted Lien (which may also secure other Indebtedness secured by a pari passu or junior lien on the Collateral along with the Secured Obligations), plus(b) after completion of the Inmarsat Acquisition, the aggregate principal amount of Funded Indebtedness of Inmarsat and its Restricted Subsidiaries outstanding on such date, determined on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness resulting from the application of the acquisition method accounting in connection with the Inmarsat Transactions or any Permitted Acquisition (or other Investment not prohibited hereunder)), minus the aggregate amount of cash and Cash Equivalents (in each case, free and clear of all liens, other than Liens permitted ...
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Related to Consolidated Senior Secured First Lien Indebtedness

  • Consolidated Senior Secured Indebtedness means, as of any date of determination, Consolidated Total Indebtedness as of such date that is not subordinated in right of payment to the Secured Obligations and is secured by a Lien on the Collateral securing the Loan Document Obligations.

  • 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.

  • Consolidated Senior Indebtedness means, as of the date of any determination thereof, Consolidated Total Indebtedness less Subordinated Indebtedness of the Borrower and its Subsidiaries, in each case calculated on a consolidated basis as of such date in accordance with GAAP.

  • Consolidated First Lien Debt means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a first priority Lien on any asset or property of such Person or its Restricted Subsidiaries that constitutes Collateral.

  • 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.

  • Subordinated Indebtedness Documents means any document, agreement or instrument evidencing any Subordinated Indebtedness or entered into in connection with any Subordinated Indebtedness.