NMTC Indebtedness definition

NMTC Indebtedness means any Debt incurred by a NMTC Subsidiary, including in the form of an intercompany loan from the Borrower or another Restricted Subsidiary in connection with an NMTC financing, the proceeds of which such NMTC Subsidiary will substantially concurrently use to acquire Real Property, renovate Real Property or construct improvements on Real Property, in each case after the Closing Date (any such acquisition, renovation or construction, an “NMTC Investment”).
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NMTC Indebtedness means unsecured Indebtedness incurred by Parent or any of its Restricted Subsidiaries in connection with obtaining a New Markets Tax Credit allocation under § 45D of the Internal Revenue Code and the resulting tax credit equity from a third party; provided that (i) such Indebtedness is subordinated to the Loans on terms reasonably acceptable to Administrative Agent, (ii) the aggregate outstanding principal amount of such Indebtedness shall not exceed $80,000,000 (other than interest paid in kind) at any one time, and (iii) the aggregate outstanding principal amount of such Indebtedness (other than (1) interest paid in kind and (2) obligations attributable to NMTC Investments permitted under Section 6.3(u)) shall not exceed $20,000,000 at any one time.
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NMTC Indebtedness means any Debt incurred by a NMTC Subsidiary, including in the form of an intercompany loan from the Borrower or another Subsidiary in connection with an NMTC financing, the proceeds of which such NMTC Subsidiary will substantially concurrently use to acquire real property, renovate real property or construct improvements on real property, in each case after the Closing Date (any such acquisition, renovation or construction, an “NMTC Investment”).
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Examples of NMTC Indebtedness in a sentence

  • Liens on NMTC Property securing the NMTC Indebtedness the proceeds of which are (or will be) used to acquire, renovate or improve such NMTC Property; provided that if such Liens are on property that is (or is required to be) Collateral then such Liens are subordinated to the Liens securing the Obligations pursuant to an intercreditor agreement in form and substance reasonably satisfactory to the Administrative Agent.


More Definitions of NMTC Indebtedness

NMTC Indebtedness means unsecured Indebtedness incurred by Parent or any of its Restricted Subsidiaries in connection with obtaining a New Markets Tax Credit allocation under § 45D of the Internal Revenue Code and the resulting tax credit equity from a third party; provided that (i) such Indebtedness is subordinated to the Loans on terms reasonably acceptable to Administrative Agent, (ii) the aggregate outstanding principal amount of such Indebtedness shall not exceed $80,000,000 (other than interest paid in kind) at any one time, and (iii) the aggregate outstanding principal amount of such Indebtedness (other than
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Related to NMTC Indebtedness

  • Indebtedness means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

  • Permitted Indebtedness means any of the following:

  • Refinanced Indebtedness shall have the meaning provided in the definition of the term “Permitted Refinancing Indebtedness”.

  • Subordinated Indebtedness means any Indebtedness of the Borrower or any Subsidiary the payment of which is subordinated to payment of the obligations under the Loan Documents.