CP Debt definition

CP Debt means unsecured Indebtedness in the form of commercial paper issued by Borrower which meets the following requirements: (i) such Indebtedness has a maturity of not more than 270 days after the date of issuance thereof, (ii) the offering of such Indebtedness is not required to be registered under the Securities Act of 1933, as amended, (iii) such Indebtedness is not the subject of a Guarantee of any Loan Party, (iv) at the time Borrower incurs such Indebtedness, no Default or Event of Default shall have occurred and be continuing hereunder, and (v) the documentation evidencing such Indebtedness shall contain no terms, conditions or defaults (other than pricing and back-up availability under this Agreement) which are more favorable to the third party creditor than those contained in this Agreement are to Lenders, as determined by Required Lenders in their discretion (provided that Required Lenders shall make any such determination at the time the initial documentation covering the issuance of CP Debt is executed and delivered and each time such documentation is modified, taking into consideration any amendments or modifications to this Agreement then in effect), and shall not contain any provision which attempts to modify, amend or restrict any of the rights or remedies of Administrative Agent or Lenders hereunder or under any of the other Loan Documents.
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CP Debt means all indebtedness from the Borrower to the CP Holders from time to time outstanding.
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CP Debt means all Indebtedness of the Borrowers to the CP Holders in respect of Commercial Paper from time to time outstanding.
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Examples of CP Debt in a sentence

  • At such time as all Obligations have been repaid in full and there are no commitments to incur further Obligations, the Agent shall take instructions from the holders of a majority of the CP Debt or their representative.

  • Payments by the Collateral Agent to the CP Holders in respect of the CP Debt shall be made to the Bank Agent for distribution to the CP Holders.

  • This Agreement and the security interest in the Collateral created hereby will terminate when the Obligations and the CP Debt have been irrevocably paid and finally discharged in full in accordance with the terms of the Loan Agreement or the documents evidencing the CP Debt, as the case may be, and the Banks are no longer obligated to make Revolving Credit Loans or Term Loans under the Loan Agreement, and the dealer of the Commercial Paper is no longer required to sell Commercial Paper.

  • At such time as all Obligations have been repaid in full and there are no commitments to incur further Obligations, the Agent shall take instructions from the holders of a majority of CP Debt or their representative.

  • The Tranche A Revolving Loans shall be promptly prepaid in an amount equal to one hundred percent (100%) of the net cash proceeds received from any CP Debt Transaction.

  • The Borrower will notify the Agent (which may be by telephone, followed promptly by written notice) on each day when the outstanding CP Debt increases.

  • All references to the Agent herein shall be construed in accordance with the foregoing so long as the SBA Security Agreement shall remain in full force and effect and as long as the Borrower Security Agreement secures any CP Debt.

  • This Agreement and the security interest in the Collateral created hereby will terminate when the Obligations and the CP Debt have been irrevocably paid and finally discharged in full in accordance with the terms of the Loan Agreement or the documents evidencing the CP Debt, as the case may be, the Banks are no longer obligated to make Revolving Credit Loans or Term Loans under the Loan Agreement, and the Dealer is no longer required to sell Commercial Paper.

  • Each loan advance (other than in respect of a CP Debt Transaction), each loan repayment or prepayment (other than in respect of a CP Debt Transaction) and each commitment reduction (other than as set forth in Section 3.3(b)(iii) in respect of a CP Debt Transaction) hereunder shall be made ratably under the Tranche A Revolving Loan Commitments and the Tranche B Revolving Loan Commitments.