SAFE Debt definition

SAFE Debt the Indebtedness for Borrowed Money owed by Borrower to SAFE pursuant to the SAFE Note.
View Source
SAFE Debt means any and all amounts, whether accrued or not accrued, due or owed by SAFE Group Company to their Related Parties, LR and/or any LR Group Company, and/or any of the LR’s and/or any LR Group Company’s Affiliates (including, without limitation, interest, whether payable, accrued or not accrued, and principal amounts) listed in, and in the amounts, as of the date hereof, specified under Schedule 0.6.
View Source

Examples of SAFE Debt in a sentence

  • Amend, modify or waive any term or provision of the (i) the articles of incorporation, by-laws or other constitutive documents of Borrower or any of its Subsidiaries, (ii) the SAFE Debt Instruments, (iii) the SAFE Attrition Guaranty or (iv) the SAFE Asset Purchase Agreement.

  • Create, incur, assume or suffer to exist any liability for Indebtedness for Borrowed Money except (i) Borrower's Obligations, (ii) Guarantors' Obligations, (iii) Permitted Senior Indebtedness, (iv) the SAFE Debt, (v) amounts payable under the SAFE Attrition Guaranty and (vi) the dealer holdback debt described on EXHIBIT 7.1.

  • With respect to a SAFE Debt Portion Advance, Agent shall have received (i) a pay-off letter from SAFE in form and substance satisfactory to Agent setting forth a pay-off amount of the SAFE Debt as of the proposed Funding Date with respect to such Additional Portion Advance, (ii) such UCC-3 termination statements and other Lien releases as Agent may require, and (iii) evidence that the SAFE Debt shall be paid in full concurrently with the disbursement of the SAFE Debt Portion.

  • Borrower hereby notifies Agent that on the date hereof, Borrower desires to borrow [$_________ of the Acquisition Portion] [$____________ of the Capital Expenditure Portion] [$_________________ of the SAFE Attrition Guaranty Portion] [$____________ of the SAFE Debt Portion] and Borrower hereby directs Agent to disburse such principal amount in accordance with the payment instructions attached hereto as EXHIBIT A.

  • Make any (i) voluntary or optional prepayment of any Indebtedness for Borrowed Money other than Borrower's Obligations, or (ii) any payments with respect to the SAFE Debt, except as permitted pursuant to the SAFE Subordination Agreement.

  • As of the date of the Fourth Amendment, (i) $300,000 of the Capital Expenditure Portion, (ii) $1,800,000 of the SAFE Attrition Guaranty Portion and (iii) $2,000,000 of the SAFE Debt Portion remain available to be disbursed on or before December 31, 2000 pursuant to the terms hereof.

  • The proceeds of the SAFE Debt Portion shall be used to repay the SAFE Debt or, in the event that Borrower is not obligated to repay the SAFE Debt pursuant to the terms of the SAFE Debt Instruments, for Capital Expenditures permitted hereunder.

  • Dissolve and wind-up the affairs of, or cause to be merged with and into Borrower, Guardian, ACM, TSC and ERC on or before the earlier to occur of (i) September 30, 2000 or (ii) 60 days after the SAFE Debt is paid in full.

  • Upon the Closing, neither Borrower nor any of its Subsidiaries will have any Indebtedness for Borrowed Money, except (i) Borrower's Obligations, (ii) Guarantors' Obligations, (iii) Permitted Senior Indebtedness permitted to exist as of the Closing Date pursuant to this Loan Agreement, (iv) the SAFE Debt and (v) the dealer holdback debt described on EXHIBIT 7.1.

  • Any requested SAFE Debt Portion Advance shall be in a single disbursement in an amount not to exceed the amount of the SAFE Debt outstanding as of the Funding Date of the SAFE Debt Portion Advance.