Master Debt definition

Master Debt means the debt owed by the Debtor to the Creditor under the Master Contract.
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Master Debt means as of any date, the principal amount of ----------- indebtedness under the Master Debt Agreements, whether outstanding or available pursuant to the terms of such Master Debt Agreement (whether or not conditions precedent thereto are then not met or about to be met), all accrued but unpaid interest thereon, all premium, if any, due in connection therewith, all fees due in connection therewith, all reimbursement obligations thereunder, all cash collateralization obligations thereunder, all hedging obligations thereunder, and all other unpaid obligations and liabilities thereunder, excluding, however, any amounts owing under any Master Debt Agreement to which any restriction contained in this Agreement on the increase of such indebtedness would apply. Amounts available under any Master Debt Agreement includes amounts available to be drawn on Letters of Credit permitted to be issued under the terms of the relevant Master Debt Agreement if the conditions precedent thereof specified in such agreement are met (even if they are not then met or about to be met).
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Master Debt means, collectively, the Revolver Debt and the Term Debt.
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Examples of Master Debt in a sentence

  • Each Grantor agrees that it shall not sell, assign, or otherwise dispose of any Collateral, except as otherwise permitted under the Master Debt Agreements.

  • The Collateral Trustee shall promptly, at the Grantors’ expense, execute and deliver all further instruments and documents, and take all further action that a Grantor may reasonably request in order to release its security interest in any Collateral which is disposed of in accordance with the terms of the Master Debt Agreements.

  • The representations, warranties, and covenants made in this Agreement shall remain operative and in full force and effect regardless of (a) any investigation made by or on behalf of any Person, or (b) the issuance and acceptance of any Master Debt and payment therefor.

  • Pursuant to Section 6.15 of each Master Debt Agreement, certain Subsidiaries of the Borrower that were not in existence on the date of the such Master Debt Agreements are required to enter into this Pledge Agreement as Pledgors.

  • No amendment or waiver of any provision of this Pledge Agreement nor consent to any departure by any Pledgor herefrom shall be effective unless made in writing and executed by the affected Pledgor and the Collateral Trustee (acting upon the written direction of the Required Percentage of each Class of Master Debt and given in accordance with the Collateral Trust Agreement), and such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

  • Pursuant to Section 6.15 of each Master Debt Agreement, each Subsidiary of the Borrower that was not in existence on the date of such Master Debt Agreement is required to enter into this Security Agreement as a Grantor upon becoming a Subsidiary of the Borrower.

  • Other than as permitted by Section 6.11 of the respective Master Debt Agreements, no Pledgor shall amend, supplement, modify or restate its articles or certificate of incorporation, bylaws, limited liability company agreements, or other equivalent organizational documents, nor amend its name or change its jurisdiction of incorporation, organization or formation.

  • Each Pledgor agrees that it will not (a) except as otherwise permitted by the Master Debt Agreements, sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Collateral or (b) create or permit to exist any Lien upon or with respect to any of the Pledged Collateral, except for Permitted Liens.

  • The proceeds of any sale, or other realization (other than that received from a sale or other realization permitted by the Master Debt Agreements) upon all or any part of the Pledged Collateral pledged by the Pledgors shall be applied by the Collateral Trustee as set forth in Section 4.4 of the Collateral Trust Agreement.

  • Without limiting the generality of the foregoing clause, when any Senior Lender or Subordinated Lender assigns or otherwise transfers any interest held by it under the Master Debt Agreements or other Master Debt Documents to any other Person pursuant to the terms of the Master Debt Agreements or such other Master Debt Documents, that other Person shall thereupon become vested with all the benefits held by such Senior Lender or such Subordinated Lender under this Security Agreement.


More Definitions of Master Debt

Master Debt means the outstanding principal amount of indebtedness, reimbursement obligations for draws on letters of credit, and cash collateralization obligations for letters of credit under the Master Debt Agreements, all accrued but unpaid interest thereon under the Master Debt Agreements, all premium, if any, in connection therewith under the Master Debt Agreements, all fees in connection therewith under the Master Debt Agreements, and all other reimbursement, indemnification, and other payment obligations in connection therewith under the Master Debt Agreements; provided, that Master Debt shall exclude any type or amount of Master Debt (a) under any Master Debt Agreement that is expressly limited or excluded from being Master Debt in the description of such Master Debt Agreement on Schedule 1, (and without limiting the foregoing, the description of a Master Debt Agreement in Schedule 1 may limit the maximum amount of Master Debt thereunder or exclude any subfacilities thereunder as Master Debt) or (b) under any Master Debt Agreement following certain modifications to the extent set forth in Section 3.1.
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Related to Master Debt

  • Mortgage Debt means (i) debt secured only by real property at the time of the MSPLF Loan’s origination;2 and (ii) limited recourse equipment financings (including equipment capital or finance leasing and purchase money equipment loans) secured only by the acquired equipment.

  • Credit Agreement Refinancing Indebtedness means (a) Permitted Pari Passu Refinancing Debt, (b) Permitted Junior Refinancing Debt, or (c) Permitted Unsecured Refinancing Debt obtained pursuant to a Refinancing Amendment, in each case, issued, incurred or otherwise obtained (including by means of the extension or renewal of existing Indebtedness) in exchange for, or to extend, renew, replace or refinance, in whole or part, existing Term Loans, Incremental Term Loans, Refinancing Term Loans, Prepetition Subsidiary Debt, Revolving Credit Loans, Incremental Revolving Credit Commitments or Refinancing Revolving Credit Loans hereunder (including any successive Credit Agreement Refinancing Indebtedness) (“Credit Agreement Refinanced Debt”); provided that (i) such extending, renewing or refinancing Indebtedness is in an original aggregate principal amount not greater than (A) the aggregate principal amount of the Credit Agreement Refinanced Debt, plus (B) accrued, capitalized and unpaid interest thereon, any fees, premiums (including any makewhole), accrued interest associated therewith, or other reasonable amount paid, and fees, costs and expenses, commissions or underwriting discounts incurred in connection therewith, (ii) the terms applicable to such Credit Agreement Refinancing Indebtedness comply with the Required Debt Terms, (iii) such Credit Agreement Refinanced Debt (other than unasserted contingent indemnification or reimbursement obligations and letters of credit that have been cash collateralized, rolled into another credit facility or backstopped in accordance with the terms thereof) shall be repaid, defeased or satisfied and discharged, and (unless otherwise agreed by all Lenders holding such Credit Agreement Refinanced Debt) all accrued interest, fees and premiums (if any) in connection therewith shall be paid on the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained and (iv) in the case such Credit Agreement Refinanced Debt is Prepetition Subsidiary Debt and the Credit Agreement Refinancing Indebtedness in respect thereof is in the form of MFN Qualifying Term Loans, then the MFN Adjustment shall be made to the Initial Term Loans to the extent otherwise required under Section 2.14(b) as if such Credit Agreement Refinancing Indebtedness were incurred thereunder (other than to the extent such Indebtedness constitutes a customary bridge facility, so long as the long-term Indebtedness into which such customary bridge facility is to be converted or exchanged would not otherwise be subject to the MFN Adjustments).

  • Non-Financing Lease Obligation means a lease obligation that is not required to be accounted for as a financing or capital lease on both the balance sheet and the income statement for financial reporting purposes in accordance with GAAP. For the avoidance of doubt, a straight-line or operating lease shall be considered a Non-Financing Lease Obligation.

  • Subsidiary Loan Agreements means the agreements to be entered into pursuant to Section 3.01 (b) of this Agreement, as the same may be amended from time to time, and such term includes all schedules to the Subsidiary Loan Agreements;

  • Existing Indebtedness means all Indebtedness of the Company and its Subsidiaries (other than Indebtedness under the Credit Agreement) in existence on the date of this Indenture, until such amounts are repaid.