Definition of PPLB Indebtedness


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.
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Examples of PPLB Indebtedness in a sentence

For clarity, and without limiting the foregoing, it is the intent of the parties that the amount of the Liquidating Payment in a Sale Transaction described in clause (i) of the definition thereof be made to the Class B Members shall be determined as if the PPLB Indebtedness does not exist at the time of such sale to reduce the Aggregate Sales Proceeds thereof.
It is understood and agreed that for purposes of calculating Aggregate Sales Proceeds hereunder, in the event of a Sale Transaction described in clause (i) of the definition thereof, no PPLB Indebtedness shall be considered in such calculation.
In connection with a Sale Transaction described in clause (ii) 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 the LLC in consideration of the assets sold in such Sale Transaction and (B) the amount of PPLB Indebtedness assumed by the buyer in such transaction.
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.