Future Second Lien Indebtedness definition

Future Second Lien Indebtedness means Indebtedness or Obligations (other than Noteholder Claims) of the Company and its Subsidiaries that is to be equally and ratably secured with the Noteholder Claims and is so designated by the Company as Future Second Lien Indebtedness hereunder; provided, however, that such Future Second Lien Indebtedness is permitted to be so incurred in accordance with any Senior Lender Documents and any Second-Priority Documents, as applicable.

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Future Second Lien Indebtedness means means any Indebtedness that is issued or guaranteed by the Borrower, and/or any Guarantor (other than Indebtedness constituting Noteholder Claims) which Indebtedness and Guarantees are secured by the Second Priority Collateral (or a portion thereof) on a pari passu basis (but without regard to control of remedies) with the Noteholder Claims; provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each then extant Senior Lender Document and Second Priority Document and (ii) the Second Priority Agent for the holders of such Indebtedness shall have executed and delivered this Agreement as of the date hereof or become party to this Agreement pursuant to, and by satisfying the conditions set forth in, Section 9.20 hereof.

Future Second Lien Indebtedness means any Indebtedness of the Issuer, the Co-Issuer and/or the Guarantors that is secured by a lien on the Collateral ranking equally and ratably with the Notes as permitted by this Indenture; provided that (i) the trustee, agent or other authorized representative for the holders of such Indebtedness (other than in the case of Additional Notes) shall execute a joinder to the Collateral Documents and the First Priority/Second Priority Intercreditor Agreement and (ii) the Issuer shall designate such Indebtedness as Future Second Lien Indebtedness under the First Priority/Second Priority Intercreditor Agreement.

Examples of Future Second Lien Indebtedness in a sentence

If so permitted, as a condition precedent to the effectiveness of such designation, the applicable Other First Priority Lien Obligations Agent or the administrative agent or trustee and collateral agent for such Future Second Lien Indebtedness shall execute and deliver to each First Lien Agent and Second Priority Agent, a joinder agreement to this Agreement in form and substance reasonably satisfactory to the Credit Agreement Agent.
If so permitted, as a condition precedent to the effectiveness of such designation, the applicable Other First Priority Lien Obligations Agent or the Second Lien Agent for such Future Second Lien Indebtedness shall execute and deliver to each First Lien Agent and Second Priority Agent, a joinder agreement to this Agreement in form and substance reasonably satisfactory to the First Lien Designated Agent.
If so permitted, as a condition precedent to the effectiveness of such designation, the applicable Other First-Priority Lien Obligations Agent or the administrative agent or trustee and collateral agent for such Future Second Lien Indebtedness shall execute and deliver to each First Lien Agent and Second Priority Agent, a joinder agreement to this Agreement in form and substance reasonably satisfactory to the Credit Agreement Agent.
The Company may designate additional obligations as Other First Priority Lien Obligations or Future Second Lien Indebtedness only if the incurrence of such obligations is permitted under each of the Credit Agreement, the Second Priority Senior Secured Notes Indenture and this Agreement.
If so permitted, as a condition precedent to the effectiveness of such designation, the applicable administrative agent, trustee and/or collateral agent for such Future Second Lien Indebtedness shall execute and deliver to the Collateral Agent and Second Priority Agent, a joinder agreement to this Agreement in form and substance reasonably satisfactory to the Collateral Agent.

More Definitions of Future Second Lien Indebtedness

Future Second Lien Indebtedness means Indebtedness or Obligations (other than Noteholder Claims with respect to the Second Lien Notes) of the Borrower or any of the other Grantors, to the extent applicable, that are to be secured by the Second Priority Collateral on a junior basis to the Senior Lender Claims and are so designated as Future Second Lien Indebtedness in accordance with, and satisfying the conditions set forth in, Section 8.22 hereof; provided, however, that such Future Second Lien Indebtedness is permitted to be so incurred and secured in accordance with each Senior Lender Document and each Second Priority Document in effect at the time of such incurrence.

Future Second Lien Indebtedness means any Indebtedness of the Issuer, the Co-Issuer and/or the Guarantors that is secured by a lien on the Collateral ranking equally and ratably with the Notes as permitted by this Indenture; provided that (i) the trustee, agent or other authorized representative for the holders of such Indebtedness (other than in the case of any Additional Notes) shall execute a joinder to the Collateral Documents and/or the Bank Intercreditor Agreement, as applicable, and (ii) the Issuer shall designate such Indebtedness as Future Second Lien Indebtedness for purposes of this Indenture.

Future Second Lien Indebtedness means any secured Indebtedness or Obligations of the Company or any of its Guarantors that are to rank junior and be subordinated to the Senior Claims and are so designated as Future Second Lien Indebtedness in accordance with Section 8.21 hereof, provided that such Future Second Lien Indebtedness is permitted to be so incurred in accordance with the terms of the Senior Documents.

Future Second Lien Indebtedness means any Indebtedness of the Issuers and/or the Guarantors that is secured by a Lien on the Second Lien Collateral ranking equally and ratably with the Notes as permitted by the Indenture; provided that (i) the trustee, agent or other authorized representative for the holders of such Indebtedness (other than in the case of Additional Notes) shall execute (A) a joinder to the First Priority/Second Priority Intercreditor Agreement and (B) a joinder to the Second Priority Intercreditor Agreement and (ii) the Issuer shall designate such Indebtedness as “Second Lien Obligations” (or any similar term) under the First Priority/Second Priority Intercreditor Agreement and the Second Priority Intercreditor Agreement.

Future Second Lien Indebtedness. (each as defined in the Intercreditor Agreement), nothing in this Agreement permits the incurrence of any “Other First Priority Lien Obligations” or “Future Second Lien Indebtedness”.

Future Second Lien Indebtedness means any Indebtedness of the Issuers and/or the Guarantors that is secured by a Lien on the Second Lien Collateral ranking equally and ratably with the notes as permitted by the indenture; provided that (i) the trustee, agent or other authorized representative for the holders of such Indebtedness (other than in the case of Additional Notes) shall execute (A) a joinder to the First Priority/Second Priority Intercreditor Agreement and (B) a Second Priority Intercreditor Agreement (or a joinder thereto) and (ii) the Issuer shall designate such Indebtedness as “Second Lien Obligations” (or any similar term) under the First Priority/Second Priority Intercreditor Agreement and any Second Priority Intercreditor Agreement.

Future Second Lien Indebtedness and (iii) “Issuer” and “Guarantor” shall be references herein to “Grantor” as context dictates.