Permitted Long-Term Indebtedness definition
Permitted Long-Term Indebtedness means unsecured Indebtedness for borrowed money of Holdings or the Parent Borrower; provided that such Indebtedness shall mature later than, and shall not be subject to any scheduled payment of principal, mandatory sinking fund requirement or similar repayment obligation prior to, the Maturity Date (or, if there is more than one Maturity Date, the latest Maturity Date in effect at the time of the incurrence of such Permitted Long-Term Indebtedness).
Permitted Long-Term Indebtedness means Indebtedness of the Company or a Guarantor which (a) requires no payments of principal until the date which is 91 days after the scheduled Maturity Date or (b) is incurred to finance an Acquisition and is intended to be replaced, and is in fact replaced, by Indebtedness described in the preceding clause (a) within six months after the incurrence thereof.
Permitted Long-Term Indebtedness means unsecured Indebtedness for borrowed money of Holdings or the Parent Borrower (and the Guarantees thereof by Holdings or Parent Borrower); provided that (a) such Indebtedness shall mature later than, and shall not be subject to any scheduled payment of principal, mandatory sinking fund requirement or similar unconditional repayment obligation prior to, the Specified Date (as in effect on the date of the incurrence of such Indebtedness) and (b) such Indebtedness shall not be subject to any terms requiring any obligor of such Indebtedness to Pay (or offer to Pay) such Indebtedness other than (i) pursuant to scheduled payments of principal that comply with clause (a) above and (ii) pursuant to Customary Mandatory Prepayment Terms.
Examples of Permitted Long-Term Indebtedness in a sentence
The Parent Borrower agrees that, promptly following the receipt thereof by JCP Realty, Inc., all proceeds of such redemption shall be transferred to the Parent Borrower as an intercompany loan that will qualify as Permitted Long-Term Indebtedness.
More Definitions of Permitted Long-Term Indebtedness
Permitted Long-Term Indebtedness means Indebtedness of the Company or a Guarantor which (a) requires no payments of principal until the date which is
Permitted Long-Term Indebtedness means unsecured Indebtedness for borrowed money of Holdings or the Parent Borrower; provided that (a) such Indebtedness shall mature later than, and shall not be subject to any scheduled payment of principal, mandatory sinking fund requirement or similar repayment obligation prior to, the Specified Date and (b) such Indebtedness shall not be subject to any terms requiring any obligor of such Indebtedness to Pay (or offer to Pay) such Indebtedness other than (i) pursuant to scheduled payments of principal that comply with clause (a) above and (ii) pursuant to Customary Mandatory Prepayment Terms.