Permitted Additional Indebtedness means Permitted Additional Unsecured Indebtedness and Permitted Additional Secured Indebtedness.
Permitted Additional Indebtedness means notes (which notes may (x) have the same lien priority as the Obligations or (y) be secured by a Lien ranking junior to the Lien securing the Obligations), in each case issued or incurred by the Borrower, (a) which notes do not mature or have scheduled amortization or payments of principal (including prepayments, redemptions or sinking fund or like payments) prior to the 91st day after the stated maturity date of any Loans hereunder at the time such notes are incurred (other than prepayment or redemption requirements as a result of asset sales or change of control provisions (provided that any such prepayment or redemption (or offer to prepay or redeem) may be made only to the extent permitted under Section 7.12)), (b) the terms and conditions of such notes (other than interest rate and redemption premium) shall not be more restrictive on the Borrower and its Subsidiaries than those herein, (c) which notes are not guaranteed by any Person other than the Guarantors and (d) that (i) are not secured by any property of the Borrower, the Holding Company or any of their respective Subsidiaries or any other Person other than the Collateral and (ii) is subject to customary intercreditor agreements entered into with the agent, trustee or other representative of any such Permitted Additional Indebtedness, the material terms of which shall be reasonably acceptable to the Administrative Agent and the Borrower.
Permitted Additional Indebtedness means Indebtedness of the Parent or the Borrower (which may be guaranteed by the Subsidiaries, the Borrower and the Parent, as the case may be,) incurred after the date hereof, provided that (a) such Indebtedness (and any guarantees thereof) shall be senior subordinated notes and shall on the date of issuance provide a cash yield not to exceed a market rate of interest per annum, (b) such Indebtedness shall be unsecured (other than by the proceeds thereof held in escrow pending a Permitted Acquisition), (c) no scheduled payments of principal, prepayments, redemptions or sinking fund or like payments on the principal of such Indebtedness shall be required prior to the 180th day following the Term Maturity Date (other than any repayment of proceeds thereof held in escrow pending a Permitted Acquisition), (d) the terms and conditions of such Indebtedness shall not be more restrictive on the Parent, the Borrower and the Subsidiaries than the terms and conditions customarily found in senior or senior subordinated notes of similar issuers issued under Rule 144A of the Securities Act of 1933 or in a public offering, in each case as reasonably determined by the Administrative Agent, and any terms of subordination thereof shall also extend to cover obligations of the Parent, the Borrower and the Subsidiaries in respect of any Hedging Agreements to which the Borrower and any of the Lenders and their respective Affiliates are parties, (e) no Dividend Suspension Period or Default shall have occurred and be continuing at the time of incurrence of such Indebtedness or would result therefrom and (f) the proceeds of such Indebtedness are applied, within 60 days of the incurrence thereof, (i) to finance one or more Permitted Acquisitions (including amounts to be held in escrow pending a Permitted Acquisition or to repay such Permitted Additional Indebtedness if the proceeds thereof were held in escrow pending a Permitted Acquisition that was not consummated), (ii) to effect mandatory prepayments pursuant to Section 2.11(b), (iii) to refinance, repurchase, defease, acquire or replace the Senior Unsecured Notes, or (iv) in respect of Restricted Payments and Capital Expenditures; provided that, in the case of clause (iv) only, after giving pro forma effect to the incurrence of such Indebtedness and any Indebtedness repaid in connection therewith, the Total Leverage Ratio for the most recently completed fiscal quarter for which financial statements have been delivered pursuant...
Examples of Permitted Additional Indebtedness in a sentence
Each such Additional Provision shall be deemed automatically incorporated by reference into this Agreement, mutatis mutandis, as if set forth fully herein, without any further action required on the part of any Person, effective as of the date when such Additional Provision is effective under such Permitted Additional Indebtedness.
More Definitions of Permitted Additional Indebtedness
Permitted Additional Indebtedness means, collectively, (i) Incremental Equivalent Indebtedness; (ii) Indebtedness of the Subsidiary Guarantors under any Guaranty Obligations in respect of any Incremental Equivalent Indebtedness; and (iii) any Permitted Refinancing Indebtedness in respect of any Incremental Equivalent Indebtedness (provided, that such Permitted Refinancing Indebtedness otherwise qualifies as Incremental Equivalent Indebtedness); provided that the same shall (to the extent secured) be subject to the terms and conditions of an Intercreditor Agreement.
Permitted Additional Indebtedness means Indebtedness of the Company; provided that (a) the covenants, defaults and similar provisions applicable to such Indebtedness, taken as a whole, are no more restrictive in any material respect than the provisions contained in this Agreement and do not conflict in any material respect with this Agreement and are, taken as a whole, otherwise on market terms and conditions; and (b) after giving effect to the incurrence of such Indebtedness on a pro forma basis for the period of four (4) Fiscal Quarters ending with the Fiscal Quarter for which financial statements have most recently been delivered (or were required to be delivered) pursuant to Section 6.01, no Default or Event of Default would exist hereunder and any refinancings of such Indebtedness that satisfies the foregoing.
Permitted Additional Indebtedness means Indebtedness of the Borrower or any Restricted Subsidiary in the form of term loans or notes; provided that:
Permitted Additional Indebtedness means Permitted Additional Unsecured Acquisition Indebtedness, Permitted Additional Unsecured Indebtedness, Permitted Additional Secured Acquisition Indebtedness and Permitted Additional Secured Indebtedness.
Permitted Additional Indebtedness means senior unsecured or subordinated Indebtedness, (a) the terms of which do not provide for any scheduled repayment, mandatory redemption, mandatory prepayment or sinking fund obligation prior to the Maturity Date in effect as at the time such Indebtedness is incurred (other than as a result of a change of control and acceleration rights after an event of default), (b) of which no Domestic Subsidiary of the Parent Borrower is a guarantor that is not a Guarantor and (c) if on the date of the incurrence of such Indebtedness, (i) no Event of Default shall have occurred and be continuing or would result from the incurrence of such Indebtedness and (ii) the Consolidated Entities are in compliance, on a pro forma basis after giving effect to the incurrence of such Indebtedness with the covenants contained in Sections 6.10 and 6.11 recomputed as at the last day of the most recently ended fiscal quarter of the Consolidated Entities as if the incurrence of such Indebtedness and the application of the proceeds thereof had occurred on the first day of the period for testing such compliance; provided that a certificate of the Financial Officer delivered to the Administrative Agent at least ten Business Days (or such shorter period as the Administrative Agent may reasonably agree) prior to the incurrence of such Indebtedness, together with the basis of determination of pro forma covenant compliance referred to above, stating that the Parent Borrower has determined in good faith that such terms and conditions satisfy the foregoing requirements shall be conclusive evidence that such terms and conditions satisfy the foregoing requirement unless the Administrative Agent notifies the Parent Borrower within such period that it disagrees with such determination (including a reasonable description of the basis upon which it disagrees).
Permitted Additional Indebtedness means unsecured notes and/guarantees thereon contemplated to be and/or actually issued by the Borrower and its Affiliates (i) the covenants, events of default, subsidiary guarantees and other material terms of which, taken as a whole, are on customary market terms or terms more favorable to the Borrower at the time of incurrence thereof as reasonably determined in good faith by a responsible officer of the Borrower, (ii) the obligors with respect to which are either (A) the Borrower and/or one or more Subsidiaries of the Borrower that are Loan Parties or (B) the Borrower and/or one or more Foreign Subsidiaries, and (iii) so long as both before and after giving effect to the incurrence of which, and the application of the proceeds therefrom, no Potential Default or Event of Default has occurred and is continuing.
Permitted Additional Indebtedness. Additional Indebtedness that is permitted to be incurred pursuant to subsection 7.1.