Definition of PPLB Indebtedness

  1. PPLB Indebtedness means (i) the Existing PPLB Debt, and (ii) any indebtedness of the LLC or any of its controlled Affiliates incurred or issued in exchange for, or the net proceeds of which are used to renew, refund, refinance, replace or discharge, the Existing PPLB Debt.

Examples of PPLB Indebtedness in a sentence

  1. In connection with a Sale Transaction described in clause (iii) of the definition thereof, the "Aggregate Sales Proceeds" shall be an amount equal to the sum of (A) the total amount of cash and other property actually received by holders of equity interests of the LLC in consideration for their equity interests in the LLC and (B) the amount of PPLB Indebtedness that remains outstanding and payable by the LLC or is otherwise assumed by the buyer in such transaction.

Definition of PPLB Indebtedness in Limited Liability Company Operating Agreement

PPLB Indebtedness means (i) the Existing PPLB Debt, and (ii) any indebtedness of the LLC or any of its controlled Affiliates incurred or issued in exchange for, or the net proceeds of which are used to renew, refund, refinance, replace or discharge, the Existing PPLB Debt.