Escrow Debt means Indebtedness incurred in connection with any transaction permitted hereunder for so long as proceeds thereof have been deposited into an escrow account on customary terms to secure such Indebtedness pending the application of such proceeds to finance such transaction.
Escrow Debt means any Indebtedness of an Escrow Subsidiary (which may not be guaranteed or receive credit support from any Person other than an Escrow Subsidiary); provided that the net proceeds of such Indebtedness are deposited into an Escrow Account upon the issuance thereof.
Escrow Debt means any Debt or Indebtedness (including any Guaranty Obligations in respect thereof) of the Parent, any Credit Party and/or one or more Subsidiaries issued for purposes of financing the Acquisition, refinancing Debt or Indebtedness of the Parent, Family Dollar or their subsidiaries in connection with the Acquisition, and paying related premiums, fees and expenses; provided, that such Debt or Indebtedness will only be “Escrow Debt” to the extent that (a) the cash proceeds thereof (together with (i) an additional amount sufficient to fund any special mandatory redemption or repayment premium required to be paid if such Debt or Indebtedness is redeemed or repaid because the Acquisition does not close by the End Date (as defined in the Merger Agreement) and (ii) an additional amount equal to any accrued but unpaid interest on such Debt or Indebtedness as of any applicable date of determination) are on deposit with a third-party escrow agent that is a bank or trust company of nationally recognized standing (the “escrow agent”) under arrangements pursuant to which such proceeds will only be released (i) to the Parent, any Credit Party and/or one or more Subsidiaries upon the satisfaction of specified conditions in connection with the closing of the Acquisition or (ii) to fund the payment of interest on or the redemption or repayment of such Debt or Indebtedness pursuant to the terms thereof and (b) no principal payments are required in respect of such Debt or Indebtedness prior to the closing of the Acquisition except to the extent funded from amounts on deposit with the escrow agent, provided, further, that from and after the release of the cash proceeds of such Debt or Indebtedness by the escrow agent, such Debt or Indebtedness shall cease to constitute “Escrow Debt” hereunder.
Examples of Escrow Debt in a sentence
The Lenders, the Issuing Bank and their respective Affiliates hereby agree that none of the Administrative Agent, the Collateral Agent or any Affiliate thereof shall have any liability or obligation to the Lenders, in their capacities as such, with respect to any transactions contemplated by any Acquisition Debt Escrow Debt Documents.
Our ApproachThe Fund focuses specifically on investing in two long-term trends: the aging of the population, which is driving sustained rapid increases in healthcare expenditures; and consumers, who are increasingly taking their health into their own hands through improved diet and exercise.
Upon the successful issuance of this instrument, the Company shall retain the Escrow Debt Amount in the Escrow Account and grant Portal all rights and privileges necessary to manage said Escrow Account.
The Company will be solely responsible for any fees associated with the maintenance of the Escrow Account or the transmission of funds – no maintenance or transmission fees due post the Effective Date will be paid out of the Escrow Account or reduce the Escrow Debt Amount.
Restricted Cash and Investments The restricted bond fund cash and investments are the result of financial requirements of bond issues and consist of funds held at the Bank of Oklahoma Trust in Escrow, Debt Service, Reserve and Construction Accounts.
More Definitions of Escrow Debt
Escrow Debt means Indebtedness (i) incurred in connection with any Investment permitted hereunder or Permitted Acquisition (in each case, other than in connection with a Limited Condition Acquisition) for so long as the proceeds thereof have been irrevocably deposited or are otherwise held in trust or under an escrow or other funding arrangement with a trustee or other agent under or with respect to such Indebtedness to secure such Indebtedness pending the application of such proceeds to finance such Investment or refinancing of other Indebtedness permitted hereunder or (ii) to the extent funds or securities have been irrevocably deposited or are otherwise held in trust or under an escrow or other funding arrangement with a trustee or other agent under or with respect to such Indebtedness for the sole purpose of repurchasing, redeeming, defeasing, repaying, satisfying and discharging or otherwise acquiring or retiring such Indebtedness in full; provided, however that in each case (x) for so long as such Indebtedness constitutes Escrow Debt, Consolidated Total Assets, Consolidated Net Income and EBITDA shall be calculated without giving pro forma effect to such Investment, Permitted Acquisition or other applicable transaction and (y) upon the release of the proceeds of such Escrow Debt from such escrow or other obligations or arrangements in full, to the extent such Indebtedness remains outstanding after such release, such Indebtedness shall constitute Indebtedness that is incurred on such date and any Liens in respect thereof shall constitute Liens incurred on such date. Any such cash so deposited, held in trust, in an escrow or other arrangement shall be deemed to be restricted cash for all purposes of this Agreement.
Escrow Debt. Indebtedness permitted to be incurred hereunder that is incurred in connection with any transaction permitted hereunder for so long as proceeds thereof have been deposited into an escrow account or maintained under a similar contingent release arrangement, in each case, on customary terms to secure such Indebtedness pending the application of such proceeds to finance such transaction.
Escrow Debt means any Debt (including any Guaranteed Debt in respect thereof) of Holdings, any Loan Party and/or one or more Subsidiaries issued for purposes of financing the Acquisition, refinancing Debt of Holdings, Target or their subsidiaries in connection with the Acquisition, and paying related premiums,
Escrow Debt means any Indebtedness of an Escrow Subsidiary (which may not be guaranteed or receive credit support from any Person other than an Escrow Subsidiary); provided that the net proceeds of such Indebtedness are deposited into an Escrow Account upon the issuance thereof. “Escrow Funds” means the sum of (a) the net proceeds of any Escrow Debt, plus (b) the related Additional Escrow Amount, plus (c) so long as they are retained in an Escrow Account, any income, proceeds or products of the foregoing. - 19-
Escrow Debt means Indebtedness incurred in connection with any transaction permitted hereunder for so long as proceeds thereof have been deposited into an escrow account on customary terms to secure such Indebtedness pending the application of such proceeds to finance such transaction. “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. “Euro” means the single currency of the Participating Member States introduced in accordance with the EMU Legislation. “Event of Default” has the meaning set forth in Section 8.01. “Excess Cash Flow” means, for any period, the sum (without duplication) of: (a) Consolidated Net Income of PubCo, Holdings, the Parent Borrower and the Restricted Subsidiaries; minus (b) the sum of the following:
Escrow Debt means any Indebtedness (including any Guarantees in respect thereof) or designated cash that is on deposit under arrangements reasonably satisfactory to the Administrative Agent as of the date hereof of Holdco and/or one or more Restricted Subsidiaries issued for purposes of financing the Safeway Acquisition, refinancing Indebtedness of the Lead Borrower, Safeway or their subsidiaries in connection with the Safeway Acquisition or otherwise funding the other transactions related to the consummation of the Safeway Acquisition, and paying related premiums, fees and expenses; provided, that (I) such Indebtedness will only be “Escrow Debt” to the extent that (a) the cash proceeds thereof (together with (i) an additional amount sufficient to fund any special mandatory redemption or repayment premium required to be paid if such Indebtedness is redeemed or repaid because (x) Holdco or one of its Subsidiaries advises the applicable escrow agent that the conditions to release cannot be satisfied, (y) the Safeway Acquisition does not close (or any other release condition is not satisfied) by March 5, 2015 (or June 5, 2015, if the “Initial End Date” (as defined in the Safeway Merger Agreement) has been extended to June 5, 2015 pursuant to Section 7.1(b)(i) thereof as in effect on the date hereof) or (z) because less than all of the Existing Safeway Notes were repurchased or redeemed within the required time period and (ii) an additional amount equal to any accrued but unpaid interest and/or ticking or similar fees on such Indebtedness as of any applicable date of determination) are on deposit with a third-party escrow agent that is a bank or trust company (the “escrow agent”) under arrangements pursuant to which such proceeds will only be released (i) upon the satisfaction of specified conditions in connection with the closing of the Safeway Acquisition, (ii) in connection with the repurchase or redemption of any Existing Safeway Notes or (iii) to fund the payment of interest and/or ticking or other similar fees on or the redemption or repayment of such Indebtedness pursuant to the terms thereof and (b) no principal payments are required in respect of such Indebtedness prior to the closing of the Safeway Acquisition except to the extent funded from amounts on deposit with the escrow agent and (II) such Indebtedness shall cease to be Escrow Debt after June 5, 2015, provided, further, that from and after the release of the cash proceeds of such Indebtedness by the escro...
Escrow Debt means debt securities of an Escrow Subsidiary issued after the Effective Date (which may not be Guaranteed or receive credit support from any Person other than an Escrow Subsidiary); provided that the net proceeds of such debt securities are deposited into an Escrow Account upon the issuance thereof.