Equity-Like Instrument definition

Equity-Like Instrument means any debt instrument issued by the Borrower which shall have no requirements for cash payments of any nature at any time so long as any Advances remain unpaid or any Letter of Credit is outstanding or any Bank shall have a Commitment hereunder and contain subordination terms no less favorable to the Banks than the subordination terms contained in the Indenture, dated as of February 15, 1996, in respect of the Borrower's 4.5% Convertible Subordinated Debentures due 2003.
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Equity-Like Instrument means any instrument that is equity-like in nature (including preferred stock and any instrument issued pursuant to the conversion of convertible Indebtedness into Equity Interests), whether or not such instrument is considered an Equity Interest, which evidences a residual interest in the issuer or its assets after the payment of all indebtedness and other liabilities paid prior to equity in accordance with GAAP, and has no put or similar provisions (except for put or similar provisions applicable in the event of an asset sale or change of control or for which the exercise date of such provision is more than six (6) months after the Latest Maturity Date in effect as of the date of issuance of such instrument), no fixed maturity date and no mandatory redemption date, unless such maturity date or such mandatory redemption date is more than six (6) months after the Maturity Date. For the avoidance of doubt, nothing contained herein permitting the existence in any Equity-Like Instrument of put or similar provisions applicable in the event of an asset sale or change of control shall be deemed a consent to the making of any payment resulting from the exercise of such provisions.
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Equity-Like Instrument means any debt obligation, loan, guarantee or any other similar arrangement for obtaining funds or credit that carries a right to participate directly or indirectly in the earnings of the entity or that has characterizations, the economic result of which cause the nature of the risks associated with the investment or the rate of return to be more similar to an equity stakeholder than a debtholder, and
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Examples of Equity-Like Instrument in a sentence

  • For the avoidance of doubt, nothing contained herein permitting the existence in any Equity-Like Instrument of put or similar provisions applicable in the event of an asset sale or change of control shall be deemed a consent to the making of any payment resulting from the exercise of such provisions.

  • The sale or issuance (whether by public or private offering) by the Parent, the Borrower or any Subsidiary of any of its Capital Stock or any Equity-Like Instrument, other than sales or issuances to the Parent, the Borrower or any Subsidiary.

  • The sale or issuance (whether by public or private offering) by the Issuer, Emmis OpCo or any Subsidiary of either the Issuer or Emmis OpCo of any of its Capital Stock or any Equity-Like Instrument, other than sales or issuances to the Issuer, Emmis OpCo or any Subsidiary of either the Issuer or Emmis OpCo.


More Definitions of Equity-Like Instrument

Equity-Like Instrument means any instrument that is equity-like in nature (including without limitation, preferred stock and any instrument issued pursuant to the conversion of convertible Indebtedness into Equity Interests), whether or not such instrument is considered an Equity Interest, which evidences a residual interest in the issuer or its assets after the payment of all indebtedness and other liabilities paid prior to equity in accordance with GAAP, and has no put or similar provisions (except for put or similar provisions applicable in the event of an asset sale or change of control or for which the exercise date of such provision is more than six (6) months after the Maturity Date), no fixed maturity date and no mandatory redemption date, unless such maturity date or such mandatory redemption date is more than six (6) months after the Maturity Date. For the avoidance of doubt, nothing contained herein permitting the existence in any Equity-Like Instrument of put or similar provisions applicable in the event of an asset sale or change of control shall be deemed a consent to the making of any payment resulting from the exercise of such provisions.
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Related to Equity-Like Instrument

  • Trade Instruments means any performance bonds, advance payment bonds or documentary letters of credit issued in respect of the obligations of any member of the Group arising in the ordinary course of trading of that member of the Group.

  • Mortgage Instrument means any mortgage, deed of trust or deed to secure debt executed by a Credit Party in favor of the Administrative Agent, for the benefit of the Secured Parties, as the same may be amended, modified, extended, restated, replaced, or supplemented from time to time.

  • Pledge Instruments With respect to each Cooperative Loan, the Stock Power, the Assignment of Proprietary Lease and the Security Agreement.

  • Gift instrument means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund.

  • Mortgage Instruments means such title reports, ALTA title insurance policies (with endorsements), evidence of zoning compliance, property insurance, flood certifications and flood insurance (and, if applicable FEMA form acknowledgements of insurance), opinions of counsel, ALTA surveys, appraisals, environmental assessments and reports, mortgage tax affidavits and declarations and other similar information and related certifications as are requested by, and in form and substance reasonably acceptable to, the Administrative Agent from time to time.