Permitted FF&E Financing means Indebtedness of the Company or any of its Restricted Subsidiaries that is Incurred to finance the acquisition or lease after the date of this Indenture of newly acquired or leased furniture, fixtures or equipment (“FF&E”) used directly in the operation of a Gaming Facility owned or leased by the Company or its Restricted Subsidiaries and secured by a Lien on such FF&E in an amount not to exceed 100% of the cost of the FF&E so purchased or leased.
Permitted FF&E Financing shall have the meaning set forth in Section 5.2.10 hereof.
Permitted FF&E Financing means Indebtedness secured by Liens on the Permitted Financed FFE, and which is otherwise on terms and conditions reasonably satisfactory to Administrative Agent.
More Definitions of Permitted FF&E Financing
Permitted FF&E Financing means Indebtedness which is Non-recourse Indebtedness to the Company or any of its Subsidiaries or any of their properties (other than as provided in this definition) that is incurred to finance the acquisition or lease after the Casino Completion Date of newly acquired or leased furniture, fixtures or equipment ("FF&E") and secured by a Lien on such FF&E (which Lien, subject to certain limitations, shall be the only Permitted Lien with respect to such FF&E and may be an exclusive Lien or senior, pari passu or junior to the rights of the Collateral Agent under the Collateral Documents).
Permitted FF&E Financing means, collectively any purchase agreement, equipment leases, financing leases and other agreements relating to the acquisition of FF&E related to the ownership and operation of the Property provided that (i) such financing and/or leasing is subject to commercially reasonable terms and conditions and at a market rate of interest and/or leasing rate, (ii) the aggregate annual amount of payments (including principal and interest) of such financing and/or leasing for FF&E will at all times be less than one percent of the then-Principal, (iii) the removal of any FF&E which is the subject of such financing and/or leasing will not materially damage or impair the value of the Property, (iv) the financing and/or leasing does not create a lien or security interest on any Property other than the FF&E being financed and/or leased, (v) such financing and/or leasing is not evidenced by a note, and (vi) upon request by Lender, Borrower will provide Lender with copies of the documentation for such financing and/or leasing.
Permitted FF&E Financing means Indebtedness of the Company or any of its Restricted Subsidiaries that is Incurred to finance the acquisition or lease after the date of this Indenture of newly acquired or leased furniture, fixtures or equipment ("FF&E") used directly in the operation of any of the Company's Casinos and secured by a Lien on such FF&E, which Indebtedness has a principal amount not to exceed 100% of the cost of the FF&E so purchased or leased.
Permitted FF&E Financing means Indebtedness which is Non-recourse Indebtedness to the Company or any of its Subsidiaries or any of their properties (other than as provided in this definition) that is incurred to finance the acquisition or lease after the Casino Completion Date of newly acquired or leased furniture, fixtures or equipment ("FF&E") used directly in the operation of the Casino or a Related Business and secured by a Lien on such FF&E (which Lien, subject to certain limitations, shall be the only Permitted Lien with respect to such FF&E and may be an exclusive Lien or senior, PARI PASSU or junior to the rights of the Trustee and the Collateral Agent under the Collateral Documents).
Permitted FF&E Financing means a Permitted FF&E Lease financed under the following terms and conditions: (i) the lease or other instrument evidencing the Permitted FF&E Financing shall allow for a collateral assignment to Lender which provides that, upon foreclosure by Lender, at Lender’s option, such lease or other instrument will remain in full force and effect so long as the Lender complies with the terms thereof, without payment of any assignment, transfer or similar fee; (ii) the Permitted FF&E Financing shall not be evidenced by a note and shall be secured by a lien on the financed FF&E only (and not a lien on any direct or indirect interest in Borrower, TRS Entity or the Property or any portion thereof); and (iii) unless otherwise agreed by Lender, at any given time the aggregate amount of Permitted FF&E Financing does not exceed 5% of the outstanding principal balance of the Loan, as reasonably determined by Lender; Borrower hereby agrees, upon request from Lender from time to time, to provide Lender with such information and documentation as Lender may reasonably require to make such determination.
Permitted FF&E Financing means (i) Non-recourse Indebtedness incurred to finance the acquisition or lease after the Issue Date of newly acquired or leased furniture, fixtures or equipment ("FF&E") which is used directly in the operation of Casinos and which is secured by a Lien on such FF&E, and (ii) any guarantee by the Company or any of its Subsidiaries of Indebtedness of any Native American Tribe for so long as a Native American Casino Management Contract with respect to such Native American Tribe shall be in effect; provided, that, in the case of clause (ii) of this definition, such Indebtedness is incurred to finance the acquisition or lease after the Issue Date of FF&E directly used or to be directly used, in a Native American Casino, which Indebtedness is secured by a Lien on such FF&E. The Lien described in this definition may be exclusive of any Lien on such FF&E purported to be created hereunder or under the Mortgage.
Permitted FF&E Financing means Indebtedness which is Non-Recourse Indebtedness to the Company or any of its Restricted Subsidiaries or any of their properties that is Incurred to finance the acquisition or lease after the date of the Indenture of newly acquired or leased furniture, fixtures or equipment ("FF&E") used directly in the operation of any casino hotel owned or leased by the Company or its Restricted Subsidiaries and secured by a Lien on such FF&E (which Lien, subject to certain limitations, shall be the only Permitted Lien with respect to such FF&E).