FINOVA Debt definition

FINOVA Debt. SERVICE: for any period, all payments of principal and interest with respect to the Principal Balance or an Allocated Loan Amount, as applicable, made or required to be made by Borrower during such period.
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FINOVA Debt means all present and future indebtedness and other obligations (direct or indirect) owing by Oakhurst to FINOVA. FINOVA Debt includes (without limitation) the Obligations, all present and future representations, warranties, covenants, agreements, indemnities, and other obligations which Oakhurst or its successors and assigns may incur to FINOVA, including (without limitation) those incurred after the filing of a bankruptcy petition by or against Oakhurst.
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FINOVA Debt means the $1,750,000 in principal amount owed by the Subsidiary to Finova pursuant to the Finova Loan Agreement dated March 17, 1995 made between the Subsidiary and Sirrom repayment of which is secured by the Finova Promissory Note, the Finova Security Agreement, the Finova Pledge and Security Agreement, and the Finova Life Insurance Assignment and in partial consideration for the making of which the Finova Warrant was issued;
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Examples of FINOVA Debt in a sentence

  • Notwithstanding anything to the contrary set forth in this Agreement, all amounts of the FINOVA Debt shall remain outstanding and in full force and effect in accordance with the terms and provisions of the Loan Agreement and Loan Instruments (as defined in the Loan Agreement) until the Closing has occurred, at which time the FINOVA Debt shall be restructured pursuant to the terms and provisions hereof.

  • Aquis Wireless Communications, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (the "Borrower"), currently has approximately $32.7 million (including without limitation principal, interest, default interest and fees) in indebtedness to FINOVA (the "FINOVA Debt"), pursuant to that certain Amended and Restated Loan Agreement, dated January 31, 2000, by and between the Borrower and FINOVA (as amended to date, the "Loan Agreement").

  • Nothing contained in this Agreement shall preclude FINOVA from discontinuing its extension of credit to Oakhurst (whether under the FINOVA Loan Agreement or otherwise) or from taking (without notice to KTI, Oakhurst, or any other individual or entity) any other action in respect of the FINOVA Debt or the FINOVA Collateral which FINOVA is otherwise entitled to take with respect to the FINOVA Debt or the FINOVA Collateral.

  • This Agreement shall continue in full force and effect until Oakhurst has satisfied in full the FINOVA Debt or the KTI Debt, whichever is earlier.

  • Among the actions which Lender may take in accordance with this Section 9 are: renewing, extending, and increasing the amount of the FINOVA Debt; otherwise changing the terms of the FINOVA Debt; settling, releasing, compromising, and collecting on the FINOVA Debt; making (and refraining from making) other secured and unsecured loans and advances to Oakhurst; amending any present or future agreement between FINOVA and Oakhurst; and all other actions which FINOVA deems advisable.

  • Notwithstanding the foregoing, unless authorized by the Board of Directors of the Target Stockholder, the Pre-Closing Board shall not authorize or permit the Target to (i) borrower from FINOVA any amount which, when added to the FINOVA Debt, exceeds the amounts available under the existing loan documents relating to the FINOVA Debt, or (ii) incur any indebtedness for borrowed money (other than for purchases of inventory in the ordinary course of business) to any lender other than FINOVA or the Buyer.

  • Borrower shall demonstrate to the satisfaction of FINOVA that the ratio of the Store Cash Flow of the Tranche D Stores for the twelve month period ending closest to the Tranche D Closing Date to the sum of Store Fixed Charges of such Stores for such twelve month period plus the projected FINOVA Debt Service on the Allocated Loan Amount for such Stores for the twelve month period following the Tranche D Closing Date is not less than 1.25:1.00.

  • Upon payment in full of the FINOVA Debt, the Subordinated Lender shall have all of its rights reinstated in respect of the Subordinated Debt, and, until such time, the Subordinatd Lender irrevocably waives any and all rights of subrogation.

  • The Subordianted Lender herby waives, and agrees not to assert any right, now or herafter existing, to require FINOVA to proceed against or exhaust any collateral at any time securing the FINOVA Debt, or to marshal any assets in favor of the Subordinated Lender or any other holder of Subordinated Debt.

  • Borrower shall demonstrate to the satisfaction of FINOVA that the ratio of the Store Cash Flow of the designated Stores for the twelve month period ending closest to the applicable Funding Date to the sum of Store Fixed Charges of such Stores for such twelve month period plus the projected FINOVA Debt Service on the Allocated Loan Amount for such Stores for the twelve month period following the Funding Date of such Advance is not less than 1.25:1.00.


More Definitions of FINOVA Debt

FINOVA Debt. The indebtedness incurred by ACC pursuant to a Dealer Loan and Security Agreement" dated on or about November 25, 1998 by and between FINOVA and ACC.
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FINOVA Debt means that certain Indebtedness of Borrower under the loan agreement among Borrower, Finova Capital Corporation ("Finova"), and certain Subsidiaries of Borrower dated as of September 6, 2000, as amended ("Finova Loan Agreement").
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FINOVA Debt and "Director Debt", as used herein, mean all debts, obligations and liabilities, now or hereafter existing, direct or indirect, absolute or contingent, joint or several, secured or unsecured, due or not due, contractual or tortious, liquidated or unliquidated, arising by operation of law or otherwise, irrespective of the person in whose favor such debt may have originally been created and regardless of the manner in which such debt has been or hereafter may be acquired by Lessor in respect of the FINOVA Debt or the Directors in respect of the Director Debt, as the case may be, and include all costs incurred to obtain, preserve, perfect or enforce any security interest, lien or other encumbrance securing such debt, or to collect any debt, or to maintain, preserve, collect and enforce any collateral, and interest on all such amounts.
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FINOVA Debt means the debt due from the Target to FINOVA, but only with respect to amounts borrowed by the Target in connection with the operations of the Target, the outstanding principal balance of which was $1,470,000 as of May 26, 2000.
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FINOVA Debt means the outstanding indebtedness of Borrower incurred pursuant to the terms of that certain loan agreement dated as of August 6, 1999 by and among Borrower, the other borrowers named therein and Finova Mezzanine Capital Inc.
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Related to FINOVA Debt

  • Acquisition Indebtedness means any Indebtedness of the Company or any Subsidiary that has been incurred for the purpose of financing, in whole or in part, an Acquisition and any related transactions (including for the purpose of refinancing or replacing all or a portion of any related bridge facilities or any pre-existing Indebtedness of the Persons or assets to be acquired); provided that either (a) the release of the proceeds thereof to the Company and the Subsidiaries is contingent upon the substantially simultaneous consummation of such Acquisition (and, if the definitive agreement for such Acquisition is terminated prior to the consummation of such Acquisition, or if such Acquisition is otherwise not consummated by the date specified in the definitive documentation evidencing, governing the rights of the holders of or otherwise relating to such Indebtedness, then, in each case, such proceeds are, and pursuant to the terms of such definitive documentation are required to be, promptly applied to satisfy and discharge all obligations of the Company and the Subsidiaries in respect of such Indebtedness) or (b) such Indebtedness contains a “special mandatory redemption” provision (or a similar provision) if such Acquisition is not consummated by the date specified in the definitive documentation evidencing, governing the rights of the holders of or otherwise relating to such Indebtedness (and, if the definitive agreement for such Acquisition is terminated prior to the consummation of such Acquisition or such Acquisition is otherwise not consummated by the date so specified, such Indebtedness is, and pursuant to such “special mandatory redemption” (or similar) provision is required to be, redeemed or otherwise satisfied and discharged within 90 days of such termination or such specified date, as the case may be).

  • Consolidated First Lien Secured Debt means Consolidated Total Debt as of such date that is not Subordinated Indebtedness and is secured by a Lien on all of the Collateral that ranks on an equal priority basis (but without regard to the control of remedies) with Liens on all of the Collateral securing the Obligations.

  • Consolidated First Lien Indebtedness means Consolidated Indebtedness that is secured by a first priority Lien (other than Permitted Liens) on assets of any Borrower or Restricted Subsidiary.

  • Capital Markets Indebtedness means any borrowing or other Indebtedness of any person (other than Project Finance Indebtedness) which is in the form of or represented by any bonds, notes, depositary receipts or other securities for the time being quoted or listed, with the agreement of the Company and/or the Guarantor, on any stock exchange.

  • Permitted Financial Indebtedness means Financial Indebtedness:

  • Permitted Acquisition Indebtedness means Indebtedness (including Disqualified Stock) of the Company or any of the Restricted Subsidiaries to the extent such Indebtedness was Indebtedness:

  • Long-Term Indebtedness means any Indebtedness that, in accordance with GAAP, constitutes (or, when incurred, constituted) a long-term liability.

  • Project Finance Indebtedness means any present or future indebtedness incurred to finance the ownership, acquisition, development and/or operation of an asset, whether or not an asset of a member of the Group:

  • 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.

  • Second Lien Indebtedness means the Indebtedness of the Loan Parties owing to the Second Lien Agent and the Second Lien Lenders under the Second Lien Credit Agreement, which Indebtedness is on terms and conditions reasonably acceptable to the Collateral Agent.

  • Acquisition Debt means any Indebtedness incurred by the Borrower or any of its Subsidiaries for the purpose of financing, in whole or in part, a Material Acquisition and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any pre-existing Indebtedness of the Borrower, any of its Subsidiaries or the person(s) or assets to be acquired); provided that (a) the release of the proceeds of such Indebtedness to the Borrower and/or its Subsidiaries is contingent upon the consummation of such Material Acquisition and, pending such release, such proceeds are held in escrow (and, if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such acquisition is terminated prior to the consummation of such Material Acquisition or if such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Borrower and/or its Subsidiaries in respect of such Indebtedness) or (b) such Indebtedness contains a “special mandatory redemption” provision (or other similar provision) or otherwise permits such Indebtedness to be redeemed or prepaid if such Material Acquisition is not consummated by the date specified in the definitive documentation relating to such Indebtedness (and if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated in accordance with its terms prior to the consummation of such Material Acquisition or such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such Indebtedness is so redeemed or prepaid within 90 days of such termination or such specified date, as the case may be).

  • Unsecured Longer-Term Indebtedness means any Indebtedness of the Borrower that (a) has no amortization or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date (it being understood that (i) the conversion features into Permitted Equity Interests under convertible notes (as well as the triggering of such conversion and/or settlement thereof solely with Permitted Equity Interests) shall not constitute “amortization” for the purposes of this definition and (ii) any mandatory redemption, repurchase or prepayment obligation or put right that is contingent upon the happening of an event that is not certain to occur (including, without limitation, a change of control or bankruptcy) shall not in and of itself be deemed to disqualify such Indebtedness under this clause (a) (notwithstanding the foregoing, in this clause (ii), the Borrower acknowledges that any payment prior to the Termination Date in respect of any such obligation or right shall only be made to the extent permitted by Section 6.12)), (b) is incurred pursuant to terms that are substantially comparable to market terms for substantially similar debt of other similarly situated borrowers as reasonably determined in good faith by Borrower (other than financial covenants and events of default, which shall be no more restrictive upon the Borrower and its Subsidiaries, prior to the Termination Date, than those set forth in this Agreement) (it being understood that put rights or repurchase or redemption obligations arising out of circumstances that would be Events of Default under this Agreement shall not be deemed to be more restrictive for purposes of this definition), and (c) is not secured by any assets of any Person. For the avoidance of doubt, Unsecured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Unsecured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition.

  • Consolidated First Lien Net Debt means Consolidated Total Net Debt minus the sum of (i) the portion of Indebtedness of the Borrower or any Restricted Subsidiary included in Consolidated Total Net Debt that is not secured by any Lien on the Collateral and (ii) the portion of Indebtedness of the Borrower or any Restricted Subsidiary included in Consolidated Total Net Debt that is secured by Liens on the Collateral, which Liens are expressly subordinated or junior to the Liens securing the Obligations.

  • Securitization Indebtedness means (1) Indebtedness of the Issuer or any of its Restricted Subsidiaries incurred pursuant to on-balance sheet Securitizations treated as financings and (2) any Indebtedness consisting of advances made to the Issuer or any of its Restricted Subsidiaries based upon securities issued by a Securitization Entity pursuant to a Securitization and acquired or retained by the Issuer or any of its Restricted Subsidiaries.

  • Intercompany Indebtedness means Indebtedness of Company or any of its Subsidiaries which is owing to Company or any of its Subsidiaries.

  • Company Indebtedness means all Indebtedness of the Acquired Company and the Acquired Subsidiaries, including (with respect to calculations at or as of the Closing Date) the amount of any prepayment penalty or premium for redemption or repayment thereof on the Closing Date, all calculated in accordance with the Accounting Principles.

  • Excluded Indebtedness means all Indebtedness not incurred in violation of Section 6.01.

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

  • Existing Indebtedness means Indebtedness of the Company and its Subsidiaries (other than Indebtedness under the Credit Agreement) in existence on the date of this Indenture, until such amounts are repaid.

  • Subordinate Indebtedness means all present and future indebtedness, obligations, and liabilities of Borrower to Subordinate Lender under or in connection with the Subordinate Loan or the Subordinate Loan Documents.

  • First Lien Indebtedness means the First Lien Loans, any First Lien Additional Indebtedness, and any First Lien Credit Agreement Refinancing Indebtedness.

  • Related Indebtedness means any and all indebtedness paid or payable by Borrower to Lender pursuant to the Loan Documents or any other communication or writing by or between Borrower and Lender related to the transaction or transactions that are the subject matter of the Loan Documents, except such indebtedness which has been paid or is payable by Borrower to Lender under this Note.

  • Secured Longer-Term Indebtedness means, as at any date, Indebtedness for borrowed money (other than Indebtedness hereunder) of the Borrower (which may be Guaranteed by Subsidiary Guarantors) that (a) has no amortization (other than for amortization in an amount not greater than 1% of the aggregate initial principal amount of such Indebtedness per annum (or an amount in excess of 1% of the aggregate initial principal amount of such Indebtedness per annum on terms mutually agreeable to the Borrower and the Required Lenders)) or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date; (b) is incurred pursuant to documentation containing (i) financial covenants, covenants governing the borrowing base, if any, covenants regarding portfolio valuations, and events of default that are no more restrictive in any respect than those set forth in this Agreement (other than, if such Indebtedness is governed by a customary indenture or similar instrument, events of default that are customary in indentures or similar instruments and that have no analogous provisions in this Agreement or credit agreements generally) (provided that, upon the Borrower’s request, this Agreement will be deemed to be automatically amended (and, upon the request of the Administrative Agent or the Required Lenders, the Borrower and the Lenders shall enter into a document evidencing such amendment), mutatis mutandis, to make such covenants more restrictive in this Agreement as may be necessary to meet the requirements of this clause (b)(i)) and (ii) other terms (other than interest and any commitment or related fees) that are no more restrictive in any material respect than those set forth in this Agreement; and (c) ranks pari passu with the obligations under this Agreement and is not secured by any assets of any Person other than any assets of any Obligor pursuant to the Security Documents and the holders of which, or the agent, trustee or representative of such holders on behalf of and for the benefit of such holders, have agreed to be bound by the provisions of the Security Documents in a manner reasonably satisfactory to the Administrative Agent and the Collateral Agent. For the avoidance of doubt, (a) Secured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Secured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Secured Longer-Term Indebtedness shall be subject to Section 6.12.

  • Assumed Indebtedness means Indebtedness of a Person which is (a) in existence at the time such Person becomes a Restricted Subsidiary of the Borrower or (b) is assumed in connection with an Investment in or acquisition of such Person, and has not been incurred or created by such Person in connection with, or in anticipation or contemplation of, such Person becoming a Restricted Subsidiary of the Borrower.

  • Capital Market Indebtedness means any obligation for the payment of borrowed money which is, in the form of, or represented or evidenced by bonds, or other instruments which are, or are capable of being, listed, quoted, dealt in or traded on any stock exchange or in any organised market and any guarantee or other indemnity in respect of such obligation; and

  • Assumed Debt has the meaning set forth in Section 2.2.