Incremental Equivalent Term Debt definition

Incremental Equivalent Term Debt means secured or unsecured Indebtedness of the Borrower in the form of term loans or notes; provided that:

Incremental Equivalent Term Debt has the meaning assigned to such term in the Term Loan Credit Agreement.

Incremental Equivalent Term Debt means the “Incremental Equivalent Term Debt” as defined in the Term Loan Credit Agreement.

Examples of Incremental Equivalent Term Debt in a sentence

• If the Borrower incurs Indebtedness under an Incremental Facility (or Incremental Equivalent Term Debt) using the Incremental Fixed Amount on the same date that it incurs any such Indebtedness using the Incremental Ratio Amount, the Incremental Ratio Amount will be calculated without regard to any incurrence of indebtedness under the Incremental Fixed Amount.

• The aggregate principal amount of Incremental Facilities incurred pursuant to this Section 2.18 together with the aggregate principal amount of Incremental Equivalent Term Debt incurred pursuant to Section 6.01(1) will not exceed, in the aggregate, an amount equal to (a) the Incremental Fixed Amount plus (b) the Incremental Ratio Amount (the sum of the Incremental Fixed Amount and the Incremental Ratio Amount, the “Incremental Amount”).

• Unless the Borrower elects otherwise, each incurrence of Incremental Facility (or Incremental Equivalent Term Debt) will be deemed incurred first as Incremental Ratio Amount to the extent permitted, with any balance incurred under the Incremental Fixed Amount.

• The Borrower may classify, and may later reclassify, indebtedness incurred under an Incremental Facility (or any Incremental Equivalent Term Debt) as incurred as, and in reliance on, the Incremental Fixed Amount, Incremental Ratio Amount, or both, on the date of incurrence and thereafter, to the extent permitted on the date of classification (or the date of any such reclassification).

• Incremental Equivalent Term Debt will include any Registered Equivalent Notes issued in exchange therefor.

More Definitions of Incremental Equivalent Term Debt

Incremental Equivalent Term Debt means Indebtedness in an amount not to exceed the then Available Incremental Amount consisting of the issuance of senior secured or junior lien notes, subordinated notes or senior unsecured notes, in each case issued in a public offering, Rule 144A or other private placement or bridge facility in lieu of the foregoing, or secured or unsecured “mezzanine” debt, in each case on customary terms and conditions; provided that (a) such Incremental Equivalent Term Debt shall not be subject to the requirement set forth in clause (h) or the proviso of clause (k) of the second paragraph in this “Incremental Facilities” section, (b) the maturity date of such Incremental Equivalent Term Debt shall be no earlier than the maturity date of the Term Facilities and (c) the weighted average life to maturity of such Incremental Equivalent Term Debt shall be no shorter than the remaining average life to maturity of the Term Facilities.

Incremental Equivalent Term Debt means Indebtedness issued in accordance with Section 2.15 consisting of one or more series of junior lien term loans or notes, subordinated notes or senior unsecured notes, and, in the case of any issuance of notes, issued in a public offering, Rule 144A or other private placement transaction, a bridge facility in lieu of the foregoing, or junior lien or subordinated loans, secured or unsecured mezzanine Indebtedness or debt securities, in each case subject to the terms set forth in Section 2.15 and, if secured, shall be secured on a junior lien basis to the Revolving Facility and shall be subject to customary intercreditor arrangements reasonably satisfactory to the Administrative Agent.

Incremental Equivalent Term Debt means Indebtedness of the Borrower consisting of senior secured first lien loans or notes or junior lien loans or notes, subordinated loans or notes or senior unsecured term loans or notes, or any Customary Bridge Loans and Guarantees thereof by any Loan Party; provided that:

Incremental Equivalent Term Debt means Indebtedness consisting of senior secured first lien or junior lien notes, junior lien term loans, subordinated notes or senior unsecured notes, in each case, issued in a public offering, Rule 144A or other private placement, a bridge facility in lieu of the foregoing or secured or unsecured “mezzanine” or high yield debt, in each case, subject to the terms set forth in Section 2.19(f).

Incremental Equivalent Term Debt means secured or unsecured Indebtedness of the Borrower in the form of term loans or notes;

Incremental Equivalent Term Debt. (each as defined in the Term Loan Facility or any equivalent term under any Term Loan Facility) in an aggregate principal amount that does not exceed (x) $810,000,000 plus (y) the aggregate principal amount of such “Incremental Facility” and “Incremental Equivalent Term Debt” not in excess of the “Available Incremental Term Loan Facility Amount” (as defined in the Term Loan Facility as in effect on the Amendment No. 4 Effective Date) and (B) any Permitted Refinancing Indebtedness incurred to Refinance any Indebtedness originally incurred pursuant to this clause (b) (and any successive Permitted Refinancing Indebtedness in respect thereof);

Incremental Equivalent Term Debt not in excess of the “Available Incremental Term Loan Facility Amount” (as defined in the Term Loan Facility as in effect on the Amendment No. 4 Effective Date) and (B) any Permitted Refinancing Indebtedness incurred to Refinance any Indebtedness originally incurred pursuant to this clause (b) (and any successive Permitted Refinancing Indebtedness in respect thereof);