Permitted Term Debt means (a) the Term Loan Facilities and (b) any Term Loan Incremental Equivalent Debt, in each case, permitted to be incurred pursuant to the terms of the Term Credit Agreement as in effect on the Closing Date and any Permitted Refinancing thereof. For the avoidance of doubt, the aggregate principal amount of Term Loan Facilities on the Closing Date shall not exceed $600,000,000.
Permitted Term Debt shall have the meaning assigned to such term in Section 6.01(x).
Permitted Term Debt. For greater certainty, the Borrowers may elect from time to time to consider Indebtedness as falling within one or more of the categories above and may divide Indebtedness among two or more categories. The restrictions set forth in any subpart of this Section 6.01 by way of description of Indebtedness shall not be deemed to require that Indebtedness meeting such description be placed in such subpart for purposes of determining compliance with this Section. The accrual of interest, the accretion of accreted value, the accretion of original issue discount, the accretion of liquidation preference and increases in the amount of Indebtedness or other obligations solely as a result of fluctuations in the exchange rate of currencies shall not be deemed to be an incurrence of Indebtedness or other obligations for purposes of this Section 6.01.
Examples of Permitted Term Debt in a sentence
Notwithstanding anything to the contrary contained herein, each Lender acknowledges that from and after the date of incurrence of any Permitted Term Debt, the Liens and security interest granted to the Administrative Agent pursuant to the Collateral Documents and the exercise of any right or remedy by such Administrative Agent thereunder are subject to the provisions of the applicable Permitted Term Debt Intercreditor Agreement.
In the event of any conflict between the terms of the applicable Permitted Term Debt Intercreditor Agreement and the Collateral Documents, the terms of such Permitted Term Debt Intercreditor Agreement shall govern and control.
More Definitions of Permitted Term Debt
Permitted Term Debt as defined in Section 10.2.1(m).
Permitted Term Debt means term, and not revolving, Indebtedness that is owing by the Borrower and (i) has a final maturity date that occurs no earlier than the Term B Loan Maturity Date and (ii) the representations, warranties, covenants and events of default set forth in the agreements, documents and instruments evidencing such Indebtedness are not more onerous or restrictive in any material respect than those set forth in the Loan Documents (with the understanding that any financial covenant, negative covenant or event of default that is more onerous or restrictive (or, with respect to events of default, is triggered more quickly or is tied to a standard that is more easily violated than one set forth in the Loan Documents) shall be automatically deemed to be material for purposes hereof); provided, that the aggregate outstanding principal balance of all such Indebtedness shall not at any time exceed an amount equal to U.S. $300,000,000 minus the aggregate amount of all increases of the Revolving Commitments and Incremental Term Loans made pursuant to Section 2.20.
Permitted Term Debt means (a) the Term Loan Facility Indebtedness issued on the Agreement Date, (b) any term loan incremental facilities permitted to be incurred in accordance with the Term Loan Facility Documentation as in effect as of the Agreement Date, (c) any “Credit Agreement Refinancing Indebtedness” (as defined in the Term Loan Facility Credit Agreement as in effect as of the Agreement Date) permitted to be incurred in accordance with the Term Loan Facility Documentation, and (d) any “Incremental Equivalent Debt” (as defined in the Term Loan Facility Credit Agreement as in effect as of the Agreement Date) permitted to be incurred in accordance with the Term Loan Facility Documentation.
Permitted Term Debt means term loan Debt, secured notes or other secured Debt incurred after the Closing Date, including any Permitted Refinancing thereof; provided that (a) at the time such Debt is incurred and after giving effect thereto, no Event of Default shall have occurred and be continuing, (b) the stated maturity date of such Indebtedness is not earlier than the Maturity Date (as such Maturity Date is in effect at the time of issuance of such Debt), (c) no Subsidiary that is not a Credit Party shall guarantee, or otherwise be an obligor in respect of, such Debt (unless such Subsidiary becomes a Credit Party under this Agreement), and (d) any Liens securing such Debt (x) if on ABL Priority Collateral, are junior in priority to the Liens on the ABL Priority Collateral securing the Obligations and (y) Collateral not constituting ABL Priority Collateral, may be pari passu, senior or junior in priority to the Liens on such non-ABL Priority Collateral securing the Obligations, in each case in clause (x) or (y), pursuant and subject to a Permitted Term Debt Intercreditor Agreement.
Permitted Term Debt means (a) the Term Loan Facility Indebtedness issued on the Amendment No. 2 Effective Date, (b) any term loan incremental facilities permitted to be incurred in accordance with the Term Loan Facility Documentation as in effect as of the Amendment No. 2 Effective Date, (c) any “Credit Agreement Refinancing Indebtedness” (as defined in the Term Loan Facility Credit Agreement as in effect as of the Amendment No. 2 Effective Date) permitted to be incurred in accordance with the Term Loan Facility Documentation as in effect on the Amendment No. 2 Effective Date, and (d) any “Incremental Equivalent Debt” (as defined in the Term Loan Facility Credit Agreement as in effect as of the Amendment No. 2 Effective Date) permitted to be incurred in accordance with the Term Loan Facility Documentation as in effect on the Amendment No. 2 Effective Date.
Permitted Term Debt means term, and not revolving, Indebtedness that is owing by the Borrower (which Indebtedness may take the form of senior secured or junior secured notes, in each case whether issued in a public offering, Rule 144A or other private placement, or senior secured or junior secured term loans, in each case, with any such Indebtedness being secured on terms contemplated by Section 6.02(m)) and (i) has a final maturity date that occurs no earlier than 91 days after the last of the Revolving Loan Maturity Dates and Term A Loan Maturity Dates is scheduled to occur, (ii) the representations, warranties, covenants and events of default set forth in the agreements, documents and instruments evidencing such Indebtedness are not more onerous or restrictive in any material respect than those set forth in the Loan Documents (with the understanding that any financial covenant, negative covenant or event of default that is more onerous or restrictive (or, with respect to events of default, is triggered more quickly or is tied to a standard that is more easily violated than one set forth in the Loan Documents) shall be automatically deemed to be material for purposes hereof) and (iii) such Indebtedness shall not receive the benefit of Guarantees or other credit support unless the Holders of Secured Obligations also receive the benefit thereof on an equal and ratable basis, or on a senior basis (and the documentation in respect of such ratable or junior sharing being in form and substance acceptable to the Administrative Agent); provided, that the aggregate outstanding principal balance of all such Indebtedness shall not at any time exceed an amount equal to U.S. $500,000,000 minus the aggregate amount of all increases of the Revolving Commitments and Incremental Term Loans made pursuant to Section 2.20.
Permitted Term Debt means Debt incurred pursuant to the Permitted Term Debt Documents, as in effect on the Closing Date (and as the same may be amended or refinanced from time to time in accordance with the terms of the Intercreditor Agreement).