Permitted Secured Indebtedness definition
Permitted Secured Indebtedness any Secured Indebtedness that:
Permitted Secured Indebtedness as defined in Section 6.2(e).
Permitted Secured Indebtedness has the meaning given to it in the Collateral Agency Agreement.
Examples of Permitted Secured Indebtedness in a sentence
None of the property of the Guarantor nor any of its Subsidiaries is subject to any Lien that secures Secured Indebtedness, other than a Lien that secures Permitted Secured Indebtedness or any other Secured Indebtedness permitted under Section 8.2(a)(iii) of this Guaranty.
More Definitions of Permitted Secured Indebtedness
Permitted Secured Indebtedness means secured Indebtedness of the Borrower issued or incurred on or after the Effective Date (including by depositing the proceeds thereof into an escrow account prior to their being applied for the purpose set forth below), provided that (i) the aggregate principal amount of all Permitted Secured Indebtedness issued or incurred at any date of determination shall not exceed an amount that, after giving effect (including on a Pro Forma Basis) to such issuance or incurrence, would be permitted to be incurred pursuant to the “Senior Leverage Ratio” set forth in Section 2.20(a) of the Existing Credit Agreement (as in effect on the Effective Date), (ii) except with respect to Permitted Secured Indebtedness in an aggregate principal amount not to exceed, together with the aggregate principal amount of Loans made on the Effective Date, $1,000,000,000 the Net Cash Proceeds of which are applied by the Borrower to finance a Convertible Notes Repurchase (such Permitted Secured Indebtedness, the “Initial Permitted Secured Indebtedness), any Permitted Secured Indebtedness (including any Permitted Secured Indebtedness that repays or refinances Initial Permitted Secured Indebtedness) does not mature and does not require any scheduled amortization or other scheduled payments of principal prior to the date that is 91 days after the 2023 Maturity Date (other than customary asset sale, event of loss, fundamental change or change of control mandatory offers to purchase and customary acceleration rights after an event of default), (iii) such Permitted Secured Indebtedness is not guaranteed by any Subsidiary of the Borrower other than the Subsidiary Guarantors, (iv) such Permitted Secured Indebtedness shall be secured only by the Collateral on a pari passu basis, and (v) the covenants applicable to such Permitted Secured Indebtedness are not more onerous or more restrictive in any material respects (taken as a whole) than the applicable covenants set forth in this Agreement (as determined by the Borrower in its reasonable judgement).
Permitted Secured Indebtedness means Indebtedness incurred by the Company and/or any of its Subsidiaries as borrower or guarantor under one or more asset-based credit facilities in an aggregate principal amount not to exceed US$50,000,000 outstanding at any time.
Permitted Secured Indebtedness means Indebtedness of the Borrower or any of its Restricted Subsidiaries secured by a Permitted Lien.
Permitted Secured Indebtedness means any Secured Indebtedness that:
Permitted Secured Indebtedness means Indebtedness incurred or issued by a Loan Party that (i) is not revolving in nature, (ii) is secured by the Collateral on a basis pari passu with, or junior to, the Loan Document Obligations, (iii) does not mature earlier than, and has a Weighted Average Life to Maturity no earlier than, 91 days after the Initial Term Maturity Date, (iv) does not provide for any amortization, mandatory prepayment, redemption or repurchase (other than upon a change of control or “asset sale”, casualty or condemnation or event of default) prior to the date that is 91 days after the Initial Term Maturity Date, other than amortization not in excess of 2.00% per annum of the initial principal amount thereof, (v) is not guaranteed by any Subsidiary that is not a Subsidiary Loan Party, (vi) is not secured by any collateral other than the Collateral and (vii) is subject to a Pari Passu Intercreditor Agreement or a Junior Lien Intercreditor Agreement, as applicable. The Loan Document Obligations are not included in “Permitted Secured Indebtedness”.
Permitted Secured Indebtedness means Indebtedness of the Borrower and its Subsidiaries secured by Liens described in clauses (j) and (k) of the definition of Permitted Liens.
Permitted Secured Indebtedness has the meaning set forth in Section 8.10(f)(i)(J).