Priority Debt means, as of any date, the sum (without duplication) of (i) Indebtedness of the Company and its Subsidiaries secured by Liens not otherwise permitted by Sections 10.4(a) through (h), and (ii) outstanding unsecured Indebtedness of Subsidiaries not otherwise permitted by Sections 10.3(a) through (d).
Priority Debt means (a) any Debt of the Company secured by a Lien created or incurred within the limitations of Section 10.4(h) or 10.4(n) and (b) any Debt of the Company’s Subsidiaries (other than Debt of a Wholly-owned Subsidiary owing to another Wholly‑owned Subsidiary).
Examples of Priority Debt in a sentence
ABL Agent is hereby authorized to make any such endorsements as agent for the Term Loan Claimholders and this authorization is coupled with an interest and is irrevocable until the Payment in Full of ABL Priority Debt.
Subject to the other terms of this Agreement, all payments received (not in violation of this Agreement) by (a) the ABL Claimholders may be applied, reversed, and reapplied, in whole or in part, to the ABL Priority Debt to the extent provided for in the ABL Documents, and (b) the Term Loan Claimholders may be applied, reversed, and reapplied, in whole or in part, to the Term Loan Priority Debt to the extent provided for in the Term Loan Documents.
More Definitions of Priority Debt
Priority Debt means, without duplication, the sum of (a) all Indebtedness of the Company or a Restricted Subsidiary secured by Liens other than Liens permitted by paragraphs (a) through (q) of the definition of Permitted Encumbrances, and (b) all Indebtedness of any Subsidiary of the Company, excluding Qualified Subsidiary Debt.”
Priority Debt means, without duplication, any Debt of the Company’s subsidiaries; provided that there shall be excluded from any calculation of Priority Debt, (i) the Debt of any subsidiary owing to the Company or a subsidiary of the Company, and (ii) the Debt of any entity which becomes a subsidiary after the issuance of the Notes and any extension, renewal or refunding thereof, provided that such Debt was not incurred in contemplation of such entity becoming a subsidiary.
Priority Debt means without duplication the sum of (a) all Debt of the Borrower and/or the Restricted Subsidiaries secured by Liens other than those permitted by paragraphs (a) through (m), both inclusive, of Section 7.02, and (b) all other Debt of Restricted Subsidiaries other than (i) Debt owed to the Borrower or other Restricted Subsidiaries and (ii) Debt outstanding at the time such Person became a Subsidiary.
Priority Debt means, with respect to the Borrowers, Holdings and their Subsidiaries, at any time of determination and without duplication, the sum of (a) Debt of the Loan Parties secured by a Lien, plus (b) Debt of Subsidiaries of Holdings (other than the Loan Parties), regardless of whether such Debt is secured or unsecured.
Priority Debt means (without duplication), as of the date of any determination thereof, the sum of (a) all unsecured Debt of the Company’s Subsidiaries (including all Guaranties of Debt of any Borrower but excluding (i) Debt owing to any Borrower or any other Subsidiary, (ii) Debt outstanding at the time such Person became a Subsidiary, provided that such Debt shall have not been incurred in contemplation of such person becoming a Subsidiary, (iii) all Guaranties of Debt of any Borrower by any Subsidiary which has also guaranteed the Obligations hereunder, (iv) Debt of FDI in which FDI is a co-obligor with the Company under the agreement or instrument pursuant to which such Debt is incurred (including, without limitation, the Senior Unsecured Notes), and (v) at any time following the date upon which (A) the Senior Unsecured Notes have been repaid, defeased or repurchased in full or (B) the provisions of the Senior Unsecured Notes are amended to exclude Capital Lease Obligations from the definition of “Priority Debt” contained therein, Capital Lease Obligations) and (b) all Debt or other obligations of the Borrowers and their Subsidiaries secured by Liens other than (i) Debt or obligations secured by Liens permitted by subparagraphs (a) through (i), inclusive, of Section 10.1 and (ii) at any time following the date upon which (A) the Senior Unsecured Notes have been repaid, defeased or repurchased in full or (B) the provisions of the Senior Unsecured Notes are amended to exclude Capital Lease Obligations from the definition of “Priority Debt” contained therein, Capital Lease Obligations.
Priority Debt means (a) Indebtedness of Foreign Subsidiaries and (b) secured Indebtedness of the Borrower or any Domestic Subsidiary, in each case, incurred or permitted to be outstanding pursuant to Section 8.03(h).
Priority Debt means (without duplication), as of the date of any determination thereof, the sum of (a) all unsecured Debt of Restricted Subsidiaries other than (i) Debt owed to the Company or any other Restricted Subsidiary, and (ii) Debt outstanding at the time any Person becomes a Restricted Subsidiary (other than an Unrestricted Subsidiary which is designated as a Restricted Subsidiary pursuant to Section 10.13 hereof); provided that such Debt shall not have been incurred in contemplation of such Person becoming a Restricted Subsidiary, and (b) Debt of the Company and its Restricted Subsidiaries secured by Liens other than Debt secured by Liens permitted by subparagraphs (a) (b), (c), (d), (e), (g), (h), (i), (j), (k) and (l), excluding for purposes of the foregoing subparagraph (k), however, any Debt secured by the extension, renewal or replacement of a Lien permitted under sub paragraph (f) of Section 10.8.