Parent Indebtedness means Indebtedness incurred by Borrower from Guarantor, provided, that, such Indebtedness shall be (i) up to $2,000,000 outstanding in the aggregate at any time, (ii) on an unsecured basis, (iii) subordinated in remedies to all of the Obligations and to all of Lender’s rights in form and substance satisfactory to Lender and (iv) be subordinate in right of payment to the Obligations and shall only be repaid pursuant to a Permitted Distribution until the Obligations are Paid in Full; provided, that, at the request of Lender, the terms of the provisions of (iii) and (iv) shall be contained in a written subordination agreement between Lender and Parent acknowledged and agreed by Borrower, in form and substance satisfactory to Lender.
Parent Indebtedness means (a) indebtedness for borrowed money of Parent and its Subsidiaries, (b) obligations of Parent and its Subsidiaries evidenced by notes, bonds, debentures or other similar instruments or by letters of credit agreements, including purchase money obligations or other obligations relating to the deferred purchase price of property and (c) direct or indirect guarantees by Parent or any of its Subsidiaries of indebtedness for borrowed money of any Person.
Parent Indebtedness means (i) all indebtedness of Parent and its Subsidiaries for borrowed money, (ii) all obligations of Parent and its Subsidiaries for the deferred purchase price of property or assets, (iii) all obligations of Parent and its Subsidiaries evidenced by notes (including promissory notes issued in consideration for the purchase of stock or assets of any business), bonds, debentures, guarantees or other similar instruments and (iv) all capital leases, which, in the case of clauses (i) through (iv) above, shall include all accrued interest thereon and applicable prepayment premiums and any other fees, costs or expenses payable in connection therewith.
Examples of Parent Indebtedness in a sentence
There are no material defaults, breaches or violations existing in respect of any Permitted Indebtedness or Permitted Parent Indebtedness by any party thereto and no event has occurred that, with the passage of time or the giving of notice, or both, would constitute a material default, breach or violation by any party thereunder, except to the extent that any of the foregoing have been waived in writing by the applicable holder of such Permitted Indebtedness or Permitted Parent Indebtedness.
No borrower, guarantor or other party obligated in respect of the Permitted Indebtedness or Permitted Parent Indebtedness has given or received any notice of default under any of the Permitted Indebtedness or Permitted Parent Indebtedness that remains uncured or in dispute.
For purposes of this Section 4.09, any Qualified Parent Indebtedness incurred in reliance upon the Company’s ability to incur Permitted Debt will be deemed to be incurred by the Company for purposes of determining whether additional Permitted Debt can be incurred for so long as such Qualified Parent Indebtedness remains outstanding.
No Parent has any Indebtedness other than Permitted Parent Indebtedness.
The Loan Parties have delivered to Lender true, correct and complete copies of all material documents and instruments evidencing or securing (i) any Existing Parent Indebtedness (other than with respect to the KingSett Loan) and the Success Fee Agreement.
More Definitions of Parent Indebtedness
Parent Indebtedness. The definition of "Parent Indebtedness" in Article I of the Restated Agreement is hereby deleted and the following is hereby inserted in lieu thereof:
Parent Indebtedness means, as of the time of determination, the then outstanding aggregate Indebtedness of the Parent Group but excluding (a) any guarantee obligations of Parent Group in respect of primary obligations of the Company or any of its Subsidiaries or Investment Affiliates and (b) Indebtedness allocated to the members of the Consolidated Group and/or the Investment Affiliates pursuant to (i) any of the sharing agreements referred to on Schedule 3.aa to the Purchase Agreement and/or (ii) the letter agreement dated the date hereof, between the Company and the Operating Partnership, relating to the Term Loan Agreement."
Parent Indebtedness means, as of the time of determination, the then outstanding aggregate Indebtedness of the Parent Group but excluding Indebtedness allocated to the members of the Consolidated Group and/or the Investment Affiliates pursuant to (a) any of the sharing agreements referred to on Schedule 3.aa to the Purchase Agreement and/or (b) the letter agreement dated the date hereof, between the Company and the Operating Partnership, relating to the Term Loan Agreement.
Parent Indebtedness means (i) the senior secured revolving credit facility among Parent, the lenders party thereto from time to time and JPMorgan Chase Bank, N.A., as administrative agent, as amended to date; (ii) the $314.0 million principal amount of asset-backed notes issued through Parent’s wholly owned subsidiary, ARCC CLO 2006 LLC, (iii) the revolving facility among, inter alia, Ares Capital CP Funding, LLC, as the borrower, Parent, as the originator and the servicer, and Wachovia Capital Markets, LLC, as the administrative agent, as amended to date; and (iv) the revolving facility among, inter alia, Ares Capital CP Funding II, LLC, as the borrower, Parent, as the servicer and the transferor, and Wachovia Bank, National Association, as the Note Purchaser.
Parent Indebtedness means all obligations of Par Petroleum and those certain subsidiaries of Par Petroleum party thereto arising under that certain Delayed Draw Term Loan and Bridge Loan Credit Agreement dated as of July 11, 2014, by and among Par Petroleum, the Subsidiaries of Par Petroleum party thereto, Jefferies Finance LLC, as administrative agent for the lenders, and the lenders named therein and from time to time party thereto, as amended by the First Amendment to Delayed Draw Term Loan and Bridge Loan Credit Agreement dated as of July 28, 2014, the Second Amendment to Delayed Draw Term Loan and Bridge Loan Credit Agreement dated as of September 10, 2014, the Third Amendment to Delayed Draw Term Loan and Bridge Loan Credit Agreement dated as of March 11, 2015, and as may be further amended, amended and restated, modified, supplemented, extended, increased, renewed, restated or replaced from time to time.
Parent Indebtedness means (a) any liabilities for borrowed money or amounts owed in excess of $100,000 (other than trade accounts payable incurred in the ordinary course of business), (b) all guaranties, endorsements and other contingent obligations in respect of Parent Indebtedness of others, whether or not the same are or should be reflected in Parent’s balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and (c) the present value of any lease payments in excess of $25,000 due under leases required to be capitalized in accordance with GAAP. Except as set forth on Schedule 3.11, neither Parent nor Merger Sub is in default with respect to any Parent Indebtedness.