Refinancing Incremental Equivalent Debt definition
Refinancing Incremental Equivalent Debt one or more series of senior unsecured notes or loans, or senior secured notes or loans (which Indebtedness, if secured, may either have the same Lien priority as the Obligations or may be secured by a Lien ranking junior to the Lien securing the Obligations), in each case issued or incurred in respect of a refinancing of outstanding Indebtedness of the Borrower under any one or more tranches of Term Loans or all or any portion of the Incremental Equivalent Debt with the consent of the Administrative Agent (which consent shall not be unreasonably withheld, delayed or conditioned); provided that:
Examples of Refinancing Incremental Equivalent Debt in a sentence
Subject to Sections 2.25(e)(iv), 2.29(b)(2) and 2.30(a) and other than with respect to the incurrence of any Refinancing Incremental Equivalent Debt, each payment (including prepayments) in respect of principal, interest or fees in respect of Term Loans shall be applied among tranches of Term Loans as directed by the Borrower.