Guarantee Requirement Amount definition
Guarantee Requirement Amount means, in respect of the Senior Note Documents for any series of Senior Notes, the sum of (i) Permitted Bank Indebtedness (as defined under such Senior Note Documents) plus (ii) the amount of Aggregate Debt (as defined in such Senior Note Documents) permitted to be incurred under such Senior Note Documents prior to which any subsidiary of the Borrower would be required to satisfy the Senior Notes Guarantee Requirement. The amount of the Obligations Guaranteed hereunder (i) by STX and its Subsidiaries (other than subsidiaries of the Borrower) shall at all times, and (ii) by subsidiaries of the Borrower shall at all times other than during the Cap Period (subject to the limitation set forth in clause (a) as to fraudulent conveyance), equal (but shall not exceed) the amount of all Obligations from time to time owing.