Incremental Debt definition
Incremental Debt has the meaning specified in Section 1.03(d).
Incremental Debt means, at any time, all Incremental Notes, Incremental Facilities and Incremental Commitments outstanding.
Incremental Debt at any time, all Incremental Notes and Incremental Term Loans.
Examples of Incremental Debt in a sentence
The Principal Borrower will ensure that the Lender Secured Obligations rank at least pari passu in right of payment with all of their other senior secured Funded Debt of the Obligors, including all Permitted Refinancing Debt and Permitted Incremental Debt.
For the avoidance of doubt, any Refinancing Facility incurred pursuant to this Section 2.16 shall not count against the Incremental Debt Cap.
For the avoidance of doubt, see also above “Incremental Facility” including in respect of securing Free and Clear Incremental Debt.
The Lender Secured Obligations rank at least pari passu in right of payment with all of their other senior secured Funded Debt of the Obligors, including all Permitted Refinancing Debt and Permitted Incremental Debt.
The Collateral (as defined below) will be created under, and governed by, the same collateral documents as the Last Out Term Loan, the Last Out Notes, and (if any) the Last Out Incremental Debt, subject to any local law requirements.
More Definitions of Incremental Debt
Incremental Debt means any Additional Term Loans or Incremental Equivalent Debt.
Incremental Debt means, at any time, all Incremental Notes and Incremental Term Loans.
Incremental Debt means any Financial Indebtedness incurred in respect of which all or any part of the proceeds of such Financial Indebtedness is not applied to refinance or repay existing Financial Indebtedness of the Group (or, if part of such proceeds is so applied, the portion of such Financial Indebtedness which is A42912533/2.28/22 Nov 2020 not so applied), and shall not include any drawing of amounts which are committed, but currently undrawn, under the Group’s liquidity facility and working capital facility or any future replacement or extension of all or part of those facilities. TopCo shall supply to the Trustee at reasonable intervals and following a request from the Trustee confirmation that the terms of this paragraph H have been complied with.
Incremental Debt has the meaning set forth in Section 6.1(b). “Indemnified Party” has the meaning set forth in Section 10.2(a). “Indemnifying Party” has the meaning set forth in Section 10.2(a).
Incremental Debt at any time, all Incremental Notes and Incremental Term Loans. “Incremental Debt Cap”: as determined with respect to any Incremental Debt to be incurred, an amount equal to the sum of (a) $100,000,000 and (b) (i) if such Incremental Debt is (or is intended to be) secured, an additional amount if, after giving effect to the incurrence of such Incremental Debt, any acquisition consummated in connection therewith and Consolidated Secured Debt and Consolidated Total Debt, as applicable, on the date of determination, the Secured Leverage Ratio is equal to or less than 3.75 to 1.00 on a pro forma basis and (ii) if such Incremental Debt consists of Incremental Notes and is unsecured, an additional amount if, after giving effect to the incurrence of such Incremental Debt and any acquisition consummated in connection therewith, the Total Leverage Ratio is equal to or less than 4.00 to 1.00 on a pro forma basis. “Incremental Notes”: as defined in Section 10.2.1(n). “Incremental Term Loan”: as defined in Section 2.4. “Incremental Term Loan Commitments”: as defined in Section 2.4.
Incremental Debt means Indebtedness of the Issuer and the Note Guarantors incurred in connection with the contribution by the Company or any of its Subsidiaries of up to an additional 26,495,472 shares of common stock of Bausch + Lomb (after giving effect to any Dilution Adjustments) to the Issuer after the Issue Date; provided that (i) the proceeds of such Indebtedness are loaned to the Company pursuant an unsecured, subordinated intercompany loan (the “Incremental Debt Intercompany Loan”) under the Intercompany Loan Agreement in an aggregate principal amount equal to the initial principal amount of such Indebtedness and otherwise on substantially the same terms as the Issue Date Intercompany Loan and used to redeem, repay or otherwise retire any Existing Secured Notes and pay transaction expenses (including, but not limited to, accrued interest and any premiums associated therewith) in connection with such incurrence and redemption, repayment or retirement, (ii) such shares are pledged as Bausch + Lomb Share Collateral no later than the Incremental Debt Incurrence Date, (iii) such contribution occurs no later than December 31, 2025 and (iv) such Indebtedness is not secured by any assets that do not constitute Collateral. The Issuer will provide the Trustee, the Notes Collateral Agents and holders of the Notes with prompt written notice of the completion of such contribution.
Incremental Debt shall have the meaning ascribed thereto in the T4 Financing Documents as in effect on the Closing Date.