Parent Subordinated Debt definition

Parent Subordinated Debt is defined in Section 6.31.

Parent Subordinated Debt means the unsecured Indebtedness of the Borrower to the Parent in the aggregate principal amount of U.S.$15,000,000 as such amount may be increased or decreased from time to time, as evidenced by the Parent Credit Agreement.

Parent Subordinated Debt means that certain Indebtedness for Borrowed Money of the Parent in favor of the Parent Subordinated Note Purchasers in an aggregate face principal amount of Three Million Five Hundred Thousand Dollars ($3,500,000).

Examples of Parent Subordinated Debt in a sentence

• The Borrower shall maintain the Parent Subordinated Debt with a commitment level of no less than U.S.$15,000,000.

• I understand that the additional premium will conclude at the same time as the original premium.

• In addition, there does not exist any default or any event that upon notice or lapse of time or both would constitute a default under the terms of any of the Parent Subordinated Debt Documents.

• Other than the Parent Subordinated Debt, the Borrower shall have repaid all amounts outstanding under its existing credit lines or will irrevocably direct the Lenders to do so from the first advance hereunder, and all such existing credit lines shall have been or will, concurrent with such advance, be cancelled permanently.

• None of the Parent Subordinated Debt Documents has been amended, supplemented, restated or otherwise modified except as otherwise disclosed to the Agent and the Lenders in writing on or before the effective date of any such amendment, supplement, restatement or other modification.

More Definitions of Parent Subordinated Debt

Parent Subordinated Debt means unsecured, subordinated indebtedness of Parent consented to in writing from time to time by Administrative Agent and Lenders in an original principal amount not to exceed in the aggregate $11,000,000, inclusive of the Parent $5,000,000 Debt and the Parent Second $5,000,000 Debt, pursuant to and evidenced by Investor Notes.

Parent Subordinated Debt the Indebtedness of the Borrower to Holdings permitted by Section 7.2(j) and subject to a Parent Subordination Agreement.

Parent Subordinated Debt means (a) upon the issuance thereof in accordance with Section 9.18, the Exchange Debentures and (b) other Indebtedness of Holdings (1) incurred in connection with the repurchase by Holdings of its capital stock from any member of the Management Group and (2) which by its terms is subject to, and subordinate in right of payment to, the right of Lender to receive the prior indefeasible payment and satisfaction in full of all of the Obligations on terms and conditions reasonably acceptable to Lender.

Parent Subordinated Debt means unsecured Indebtedness of the Borrower, up to an aggregate amount of U.S.$15,000,000, owing to the Parent from time to time, which shall at all times be subordinated to the Loans.

Parent Subordinated Debt means any loans made by an Investor (or any entity through which that Investor holds its interest in the Parent) to the Parent:

Parent Subordinated Debt means the Indebtedness of Borrower to Parent existing as of the Closing Date and evidenced by the Promissory Note dated as of August 31, 2005 in the original principal amount of $9,589,247, in form and substance satisfactory to Lender, payment of which has been subordinated to payment of the Obligations pursuant to the Parent Subordination Agreement.

Parent Subordinated Debt means any Indebtedness of the Parent, whether outstanding on the Issue Date or thereafter incurred, that specifically provides that such Indebtedness is to rank junior in right of payment to the Obligations of the Parent under its Note Guarantee.