Qualifying Indebtedness means Indebtedness of the Company under the Senior Note Indenture, the New Senior Note Indenture, and any other Secured Indebtedness of the Company or any of its Subsidiaries (other than Indebtedness under the Loan Documents).
Qualifying Indebtedness means any Indebtedness of any Loan Party (i) which is either unsecured or secured by a Lien pursuant to clause (x) of the definition of Permitted Encumbrances which is subject to the terms of a Qualifying Pari Passu Intercreditor Agreement and, with respect to the ABL Priority Collateral, is junior and subordinate to the Lien of the Collateral Agent and (ii) no part of the principal of which is required to be paid (whether by way of mandatory sinking fund, mandatory redemption, mandatory prepayment or otherwise) prior to the date that is six months after the Maturity Date set forth in clause (a) of the definition thereof.
Qualifying Indebtedness means, as of any determination date, Indebtedness of the U.S. Borrower under the Senior Note Indenture and any other Secured Indebtedness of the U.S. Borrower or any of its Subsidiaries (other than Indebtedness under the Credit Documents).”
Examples of Qualifying Indebtedness in a sentence
The Borrower shall make such mandatory prepayment within five (5) Business Days after the date of the incurrence of such Qualifying Indebtedness unless the Lender has previously notified the Borrower of its decision to waive such prepayment.
Subject to the terms and conditions of the Subordination Agreement, within three (3) Business Days after the incurrence by the MLP, the Borrower or any Subsidiary of the Borrower of Qualifying Indebtedness, the Borrower shall notify the Lender of its intent to make a mandatory prepayment of the principal amount of the Subordinated Loans (together with interest on the amount prepaid) in an amount equal to the Net Cash Proceeds from any such incurrence.
What will be the amount of includable gain in Renee’s income in the year of the sale?Must figure out Gross Profit Ratio:Gross Profit Ratio = Gross Profit(Selling Price - Basis- includes selling expenses) Total Contract Price (Selling Price - Qualifying Indebtedness) $3 mill - $1 mill = $2 million = 2/3$3 millionTwo-thirds of the $1 million down payment, $666,666, is includable gain.
More Definitions of Qualifying Indebtedness
Qualifying Indebtedness means Indebtedness of the MLP, the Borrower or any Subsidiary of the Borrower that is incurred after the date hereof and that does not have any amortization payment due or maturity date occurring sooner than six months after the last day of the Term Out Period (as defined in the Senior Credit Agreement), determined on the assumption that the Term Out Period will become effective under the Senior Credit Agreement on June 29, 2012. As used above the Term Out Period shall be determined on the basis of the Senior Credit Agreement as in effect on the date hereof without giving effect to any amendment, supplement or other modification thereto not consented to by the Lender. EXHIBIT 10.1 ---------
Qualifying Indebtedness means Indebtedness of the MLP, the Borrower or any Subsidiary of the Borrower that is incurred after the date hereof (other than amounts under the Senior Credit Agreement) and that does not have any amortization payment due or maturity date occurring sooner than October 27, 2017.
Qualifying Indebtedness means any (i) Indebtedness under any Credit Facilities (other than Permitted Indebtedness) incurred pursuant to Section 407, (ii) Indebtedness under any Credit Facilities incurred pursuant to clause (2), (13) or (18) of the definition of “Permitted Indebtedness”, (iii) Indebtedness under syndicated credit facilities and (iv) Capital Markets Indebtedness.
Qualifying Indebtedness. ’ means a mortgage or other indebtedness encum- bering the property and indebtedness, not secured by the property but in- curred or assumed by the purchaser in- cident to the purchaser’s acquisition, holding, or operation in the ordinary course of business or investment, of the property. The term ‘‘qualifying indebt- edness’’ does not include an obligation of the taxpayer incurred incident to the disposition of the property (e.g., legal fees relating to the taxpayer’s sale of the property) or an obligation functionally unrelated to the acquisi- tion, holding, or operating of the prop- erty (e.g., the taxpayer’s medical bill). Any obligation created subsequent to the taxpayer’s acquisition of the prop- erty and incurred or assumed by the taxpayer or placed as an encumbrance on the property in contemplation of disposition of the property is not quali- fying indebtedness if the arrangement results in accelerating recovery of the taxpayer’s basis in the installment sale.
Qualifying Indebtedness means any Indebtedness hereafter issued by Borrower and its Restricted Subsidiaries, other than (a) any Subordinated Obligations the proceeds of which refinance existing Subordinated Obligations of a like amount, and (b) Indebtedness of the types described in Sections 6.9(c), (d), (f), (g) and (h).
Qualifying Indebtedness means any Indebtedness of the Company and its subsidiaries, if the Annual Interest Coverage Ratio for such Indebtedness, together with all other Indebtedness of the Company and its subsidiaries, is not less than two to one.
Qualifying Indebtedness means Indebtedness of the MLP, the Borrower or any Subsidiary of the Borrower that is incurred after the date hereof and that does not have any amortization payment due or maturity date occurring sooner than December 29, 2013.”