Permitted Junior Capital definition

Permitted Junior Capital means and include (i) any Additional Permitted Subordinated Debt, (ii) any Permitted Senior Subordinated Notes, (iii) any Qualified Preferred Stock and (iv) any Disqualified Preferred Stock.

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Permitted Junior Capital means and includes (i) any Permitted Unsecured Debt and (ii) any Preferred Stock of the Issuer.

Permitted Junior Capital means any unsecured Debt (including, but not limited to, Convertible Notes) incurred by the Parent. Permitted Capital Hedging Arrangement means (a) any agreement or arrangement pursuant to which the Parent acquires a bond hedge, call option, capped call option, forward or any similar derivative arrangement requiring the counterparty thereto to deliver to the Parent common stock of the Parent, the cash value of such common stock or cash representing the termination value of such option or a combination thereof from time to time upon settlement, exercise or early termination of such option, (b) an agreement or arrangement pursuant to which, among other things, the Parent issues to the counterparty thereto warrants to acquire common stock of the Parent, cash in lieu of delivering such common stock or cash representing the termination value of such option, or a combination thereof upon settlement, exercise or early termination thereof or (c) any share lending agreement, in each case, under clauses (a), (b) and (c), entered into by the Parent in connection with any issuance or refinancing of Permitted Junior Capital or issuance of any equity by the Parent or any Subsidiary (including in each case, without limitation, in connection with the exercise of any over-allotment or initial purchaser’s (or initial purchasers’) or underwriter’s (or underwriters’) option).

Examples of Permitted Junior Capital in a sentence

Section 6.11 of the Credit Agreement is hereby amended by (a) deleting the words ", Convertible Subordinated Notes" from clause (ii) thereof, (b) deleting the words "the Convertible Subordinated Notes" from clause (ii)(x) thereof and substituting therefor the words "any Permitted Junior Capital" and (c) deleting the words ", Convertible Subordinated Note Document" from clause (iii) thereof.
The Required Lenders hereby consent to the foregoing prepayment requirement and waive compliance by the Company and ChipPAC with Subsections 2.4B(iii)(b) and (c) to the extent such subsections would require the application of a greater percentage of the Net Proceeds of Permitted Junior Capital issued on or prior to the Prepayment Transactions Date, to be applied to the prepayment of the Term Loans.
If such Permitted Junior Capital is issued by the Company or ChipPAC prior to the Prepayment Transactions Date, then on or prior to the first Business Day following the receipt of such Net Proceeds, the Company will prepay the outstanding Term Loans in an aggregate principal amount equal to the greater of (i) $20,000,000 and (ii) 50% of the amount of such Net Proceeds, such prepayment to be applied as specified for mandatory prepayments in Subsection 2.4(c) of the Credit Agreement.
No sale shall be made to a Loan Party or an Affiliate of a Loan Party, and the Administrative Agent’s refusal to accept a Sale to a Loan Party, an Affiliate of a Loan Party, a holder of the Subordinated Note or any Permitted Junior Capital or any Affiliate of such a holder, or to any Person that would be a Non-Funding Lender or an Impacted Lender, or the imposition of conditions or limitations (including limitations on voting) upon Sales to such Persons, shall not be deemed to be unreasonable.

More Definitions of Permitted Junior Capital

Permitted Junior Capital means Equity Interests of Holdings and/or Other Subordinated Debt of Holdings or the Borrower, in either case, that is issued in connection with the Acquisition, substantially all the net cash proceeds of which are used to finance the Acquisition Consideration, the Restructuring Costs and related fees and expenses. Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows:

Permitted Junior Capital means (a) Qualified Capital Stock of Holdings or (b)

Permitted Junior Capital means up to $17,500,000 in unsecured subordinated Indebtedness issued by Borrower to replace or refinance the Subordinated Note and which shall be subject to the following terms and conditions: (i) subordination terms applicable thereto are no less favorable to the Lenders than those set forth in the Subordinated Note and otherwise reasonably acceptable to the Supermajority Lenders, (ii) Borrower is not required to repay such unsecured subordinated Indebtedness (either through amortization, maturity or redemption (other than customary (x) change of control provisions and (y) asset sale redemption provisions from proceeds net of (among other things) any mandatory prepayments required under this Agreement in respect of such asset sales, none of which may be paid while any Loans or L/C Obligations are outstanding or any Facility remains committed) at any time prior to at least six months after the later of the Scheduled Revolving Credit Termination Date and the Term Loan Maturity Date, except upon acceleration of such Indebtedness permitted by the applicable subordination provisions to the extent the proceeds thereof are required to be turned over to pay the Obligations, (iii) total yield on such subordinated Indebtedness or preferred Stock does not exceed 12.5% (or 13.5% including penalty interest) per annum, of which cash yield shall not exceed 10% per annum, assuming for purposes of this clause (iii), the Subordinated Note was issued at par, (iv) any financial covenants mirror those set forth in Article 5 and are at least 15% less restrictive than the financial covenants set forth in Article 5, except that the Permitted Junior Capital may require a Consolidated Total Leverage Ratio with respect to Holdings of not greater than 2.00:1.00, (v) all other covenants and other terms applicable thereto are not more restrictive than those contained in the Loan Documents or that certain Indenture, dated as of December 22, 2004, among Spheris, the Bank of New York, as Trustee and the other parties thereto and (vi) such unsecured subordinated Indebtedness or preferred Stock shall not have a cross-default to a Default or Event of Default having occurred under any Loan Document unless as a result of such Default or Event of Default under any Loan Document, the applicable Lenders have accelerated the Obligations to be immediately due and payable.

Permitted Junior Capital means (a) Capital Stock of ChipPAC or (b) subordinated, unsecured Indebtedness of ChipPAC or the Company; provided that (i) such Permitted Junior Capital does not require any scheduled payment of principal or return of capital prior to the maturity date of the Convertible Subordinated Notes issued prior to the Amendment Effective Date (as defined below) and (ii) the subordination provisions (in the case of Indebtedness) and other non-pricing terms and conditions thereof are no less favorable to ChipPAC and its Subsidiaries and the Lenders than the analogous provisions of the Subordinated Debt Documents issued prior to the Amendment Effective Date.

Permitted Junior Capital means any unsecured Debt (including, but not limited to, Convertible Notes) incurred by the Parent.