Indefeasible definition

Indefeasible means not subject to any prior interest or estate;
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Indefeasible means, with respect to a payment that the Obligations are satisfied only when the Lender is no longer subject to any right on the part of any Person, including (a) the Borrower, (b) the Borrower as a debtor in possession, or (c) any bankruptcy or other trustee of the Borrower's assets, to invalidate or set aside such payments or to seek to recoup the amount of such payments or any portion thereof, or to declare same to be fraudulent or preferential.
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Indefeasible means, with respect to the repayment of Borrower’s monetary Obligations, receipt by Administrative Agent of immediately available funds equal to the total monetary Obligations then outstanding, without prejudice to any right that Administrative Agent or any Lender may at any time have to seek to reassert or reinstate any Lien following the defeasance, disgorgement or forfeiture of any amount received by Administrative Agent or any Lender in respect of the Obligations.
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Examples of Indefeasible in a sentence

  • Deployed Dark Fiber facilities shall not be limited to facilities owned by CenturyLink, but will include in place and easily called into service facilities to which CenturyLink has otherwise obtained a right of access, including but not limited to capitalized Indefeasible Right to Use (IRUs) or capitalized leases.

  • To the extent PSINet orders Bandwidth on Excess Miles, the parties will in good faith attempt to negotiate and effect adjustments in PSINet's rights in the PSINet Fiber IRU and in the security interest in the Long-Term Indefeasible IRU, with such rights to be expanded to cover such Bandwidth in the Excess Miles and to be reduced so as not to cover PSINet's usage of Bandwidth to the extent less than an OC-48 on any portion of the original 10,000 Route Miles of the Available System.

  • The security interest in the Short-Term Indefeasible IRU shall terminate upon the first to occur of the following: (i) IXC's making Available and PSINet's Acceptance of all of the IRU Capacity, and granting an IRU therein, to PSINet on the terms and subject to the conditions of this Agreement, and (ii) the written consent of the parties.

  • Deployed Dark Fiber facilities shall not be limited to facilities owned by Qwest, but will include in place and easily called into service facilities to which Qwest has otherwise obtained a right of access, including but not limited to capitalized Indefeasible Right to Use (IRUs) or capitalized leases.

  • With respect to the Restricted Fibers and appurtenant Associated Property, IRU Grantee shall be deemed to have an Indefeasible Right of Use for the Term pursuant to the terms of the Agreement.

  • The Company may sell a portion of its facility or grant an "Indefeasible Right of Use" (IRU) to another company for the purpose of installing its own facility.

  • Deployed Dark Fiber facilities shall include Dark Fiber Qwest has obtained with capitalized Indefeasible Right to Use (IRUs) or capitalized leases that do not prohibit Qwest’s ability to provided access to another person or entity.

  • This Guaranty is a continuing and irrevocable guaranty of all Obligations now or hereafter existing and shall remain in full force and effect until Indefeasible Payment and Performance of All Obligations has occurred.

  • The Indefeasible Rights of Use shall be perpetual and shall survive any termination of the franchise agreement.

  • Guarantor hereby agrees that any indebtedness of Borrower to Guarantor, whether now existing or hereafter created, shall be and is hereby subordinated to the indebtedness of Borrower to Lender under the Loan Documents until such time as the Indefeasible Payment in Full of all obligations of Borrower and all of the Obligations under this Guaranty.


More Definitions of Indefeasible

Indefeasible means, with respect to any real property owned or any ------------ other real property interest owned, that such real property or interest in real property cannot be revoked, defeated or voided with the exception of minor imperfections such as shortages in areas or gaps in parcels which, individually or in the aggregate, do not materially impair the use of such real property or real property interest.
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Indefeasible in this context does not refer to the potential defeasance in the future of the storm recovery bonds, but rather that the payment and satisfaction of the bonds and costs are permanent and cannot be revoked or made void. Except in connection with a refinancing or refunding9 or to implement the true-up mechanism adopted by the Council, the Council may not amend, modify, or terminate this Financing Order by any subsequent action or reduce, impair, postpone, terminate, or otherwise adjust storm recovery charges approved in this Financing Order. Nothing in the State and Council agreements described above precludes a limitation or alteration in this Financing Order and the storm recovery property if and when full compensation is made for the full protection of the storm recovery charges collected pursuant to this Financing Order and the full protection of the bondholders and any assignee or financing party. Storm recovery property constitutes an existing, present contract right susceptible of ownership, sale, assignment, transfer, and security interest, and the property will continue to exist until the storm recovery bonds issued pursuant to this Financing Order are paid in full and all financing costs of the storm recovery bonds have been recovered in full. In addition, the interests of an assignee or secured party in storm recovery property (as well as the revenues and collections arising from the property) are not subject to setoff, counterclaim, surcharge, or defense by ENO or any other person or in connection with the bankruptcy of ENO or any other entity. Except to the extent provided in Act 64, the creation, attachment, granting, perfection, and priority of security interests in storm recovery property to secure storm recovery bonds is governed solely by Act 64 and not by the Louisiana Uniform Commercial Code.
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Related to Indefeasible

  • Payment in Full means, with respect to any Obligations (a) the payment in full in cash of all such Obligations (other than contingent indemnification and expense reimbursement obligations to the extent no claim giving rise thereto has been asserted) and (b) the termination or expiration of all of the Commitments.

  • Discharge of Senior Obligations means the date on which the Discharge of Credit Agreement Obligations and the Discharge of each Additional Senior Debt Facility has occurred.

  • Unliquidated Obligations means, at any time, any Secured Obligations (or portion thereof) that are contingent in nature or unliquidated at such time, including any Secured Obligation that is: (i) an obligation to reimburse a bank for drawings not yet made under a letter of credit issued by it; (ii) any other obligation (including any guarantee) that is contingent in nature at such time; or (iii) an obligation to provide collateral to secure any of the foregoing types of obligations.

  • Discharge of Obligations subject to Section 10.8, the satisfaction of the Obligations (including all such Obligations relating to Cash Management Services) by the payment in full, in cash (or, as applicable, Cash Collateralization in accordance with the terms hereof) of the principal of and interest on or other liabilities relating to each Loan and any previously provided Cash Management Services, all fees and all other expenses or amounts payable under any Loan Document (other than inchoate indemnification obligations and any other obligations which pursuant to the terms of any Loan Document specifically survive repayment of the Loans for which no claim has been made), and other Obligations under or in respect of Specified Swap Agreements and Cash Management Services, to the extent (a) no default or termination event shall have occurred and be continuing thereunder, (b) any such Obligations in respect of Specified Swap Agreements have, if required by any applicable Qualified Counterparties, been Cash Collateralized, (c) no Letter of Credit shall be outstanding (or, as applicable, each outstanding and undrawn Letter of Credit has been Cash Collateralized in accordance with the terms hereof), (d) no Obligations in respect of any Cash Management Services are outstanding (or, as applicable, all such outstanding Obligations in respect of Cash Management Services have been Cash Collateralized in accordance with the terms hereof), and (e) the aggregate Commitments of the Lenders are terminated.

  • Discharge of Senior Lender Claims means, except to the extent otherwise provided in the Intercreditor Agreement, payment in full in cash (except for contingent indemnities and cost and reimbursement obligations to the extent no claim has been made) of (a) all Obligations in respect of all outstanding First Priority Lien Obligations and, with respect to letters of credit or letter of credit guaranties outstanding thereunder, delivery of cash collateral or backstop letters of credit in respect thereof in compliance with the Revolving Credit Agreement, in each case after or concurrently with the termination of all commitments to extend credit thereunder and (b) any other First Priority Lien Obligations that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid; provided that the Discharge of Senior Lender Claims shall not be deemed to have occurred if such payments are made with the proceeds of other First Priority Lien Obligations that constitute an exchange or replacement for or a refinancing of such Obligations or First Priority Lien Obligations. In the event the First Priority Lien Obligations are modified and the Obligations are paid over time or otherwise modified pursuant to Section 1129 of the Bankruptcy Code, the First Priority Lien Obligations shall be deemed to be discharged when the final payment is made, in cash, in respect of such indebtedness and any obligations pursuant to such new indebtedness shall have been satisfied.