Replacement Debt definition

Replacement Debt means any Refinancing Indebtedness (whether borrowed in the form of secured or unsecured loans, issued in a public offering, Rule 144A under the Securities Act or other private placement or bridge financing in lieu of the foregoing or otherwise) incurred in respect of Indebtedness permitted under Section 6.01(a) (and any subsequent refinancing of such Replacement Debt).

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Replacement Debt means Permitted Refinancing Indebtedness where the net proceeds are applied substantially concurrently and in any event within one Business Day of the incurrence of the Permitted Refinancing Indebtedness (provided that the Company shall use its reasonable endeavours to procure that it is applied on the same day) in prepayment, purchase, defeasance or redemption of (a) the Senior Secured Notes or any Term Debt; or (b) any Permitted Refinancing Indebtedness.

Replacement Debt means, collectively, Secured Replacement Debt and Unsecured Replacement Debt incurred by the Borrower (including by way of Senior Bonds) pursuant to Section 2.6 (Replacement Debt) in order to partially or in whole (a) refinance by prepaying or redeeming then existing Senior Debt or (b) replace by cancelling then existing Senior Debt Commitments.

Examples of Replacement Debt in a sentence

• Performance Liquidated Damages) above and/or incurrence of Replacement Debt pursuant to Section 6.3 (Replacement Debt) below, which shall be applied pro rata against subsequent scheduled payments, all mandatory prepayments under this Section 3.4 (Mandatory Prepayments) shall be paid and applied in inverse order of maturity.

• Each of the Parties hereto agrees to deliver to the Intercreditor Agent executed counterparts of any Permitted Hedging Instrument or any Senior Debt Instrument relating to Replacement Debt, Project Phase 2 Development Debt, Working Capital Debt, Permitted Internal Expansion Debt, Permitted Relevering Debt, Permitted Completion Senior Debt, PDE Senior Debt, Restoration Debt and of any instrument amending or modifying any agreement previously delivered to the Intercreditor Agent.

• Replacement Debt) of the Common Terms Agreement in the event and to the extent the additional debt triggering such prepayment has been incurred to replace such Working Capital Loans and/or LC Loans.

• The Borrower shall use the proceeds of any Replacement Debt (and Indebtedness not permitted to be incurred under the Finance Documents), in each case, after accounting for any related Hedging Termination Amount and related fees and expenses, to prepay or repay Senior Debt and/or replace all or part of the Facility Debt Commitments in accordance with Section 6.3 (Replacement Debt).

More Definitions of Replacement Debt

Replacement Debt. The meaning specified in Section 9.1(c).

Replacement Debt shall have the meaning given to such term in the Residual Certificate.

Replacement Debt has the meaning assigned to such term in Section 2.4(a).

Replacement Debt means debt incurred to repay other existing debt provided that, except with respect to debt that refinances all existing debt scheduled to become due on or before 9 September 2014, the Replacement Debt shall only include debt (a) which does not provide for payment, on or before 9 September 2014, of current cash interest at a rate in excess of the existing debt refinanced or principal payments in excess of those required for existing debt refinanced and (b) which has no tighter covenant restrictions or events of default than the existing debt refinanced;”.

Replacement Debt means Senior Securities, the proceeds of which are used to refinance all or a portion of the outstanding Tax-Exempt Indenture Securities (whether by effecting a gross-up of, or by the issuance of Senior Securities to replace, affected Tax-Exempt Indenture Securities) upon the occurrence of a Determination of Taxability.

Replacement Debt means senior unsecured debt of the Parent that meets the following criteria: (i) such debt constitutes Refinancing Indebtedness, (ii) such debt does not require any payment or prepayment (including without limitation any sinking fund or similar payment) of principal prior to the Permitted Debt Maturity Date other than pursuant to mandatory prepayment requirements not materially more restrictive than those applicable to the Senior Notes, with such changes thereto as shall be reasonably acceptable to the Administrative Agent, and (iii) the affirmative covenants, negative covenants and events of default applicable thereto shall be substantially the same as those applicable to the New Notes, with such changes thereto as shall be reasonably acceptable to the Administrative Agent.

Replacement Debt has the meaning given in Section 6.3(a) (Replacement Debt) of the Common Terms Agreement.