Senior Permitted Indebtedness definition

Senior Permitted Indebtedness means Indebtedness under one or more Credit Facilities to which the Company and/or any Subsidiary of the Company is a party or obligated with respect thereto whether as borrower, issuer, guarantor or otherwise, provided that the outstanding principal amount thereof at any time shall not exceed $350,000,000 at any one time outstanding.
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Senior Permitted Indebtedness means Indebtedness under one or more Credit Facilities to which the Company and/or any Subsidiary is a party or obligated with respect thereto whether as borrower, issuer, guarantor or otherwise, provided that (x) the outstanding principal amount thereof shall not exceed (A) $400,000,000 during the period from the Issue Date through and including March 31, 2009 or (B) $350,000,000 thereafter, in each case less the principal amount of permanent reductions made under the agreements relating to the Senior Permitted Indebtedness after the Issue Date (other than any such permanent reductions made in connection with a refinancing thereof), (y) the margin in excess of LIBOR applicable to such Senior Permitted Indebtedness shall not be increased on a weighted average basis by more than 3.00% over the weighted average margin applicable to the Existing Senior Permitted Indebtedness on the Issue Date (after giving effect to any flex provisions relating thereto in the agreements governing the Existing Senior Permitted Indebtedness as of the Issue Date) and (z) the scheduled principal amortization under the agreements relating to such Senior Permitted Indebtedness shall not, on a weighted average basis, be accelerated by more than 50% from the weighted average amortization schedule in effect on the Issue Date under the agreements governing the Existing Senior Permitted Indebtedness on the Issue Date.
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Senior Permitted Indebtedness means, collectively (i) any Unsecured Senior Working Capital Indebtedness and (ii) Indebtedness of the Borrower which, at the time incurred, was permitted to be incurred by the Borrower in compliance with each of Section 6.17(e) of the Lender Credit Agreement and Section 8.05(e) of the Eximbank Credit Agreement.
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Examples of Senior Permitted Indebtedness in a sentence

  • No right of any agent for the holders of the Senior Permitted Indebtedness to enforce the subordination provisions herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or the Holder or by any noncompliance by the Company or the Holder with the terms herein.

  • The holders of the Senior Permitted Indebtedness and their respective agents shall be a third party beneficiaries of the subordination provisions set forth in this Section 11.

  • With respect to any registrations so filed, the Company shall also concurrently make such filings as are required such that the Purchasers have a first priority security interest in such copyrights (subject to Permitted Liens created to secure Senior Permitted Indebtedness).

  • Schedule 4(d) Use of Proceeds Senior Permitted Indebtedness, including the Company’s Note obligations to Xxx Xxxxxx.

  • Notwithstanding the generality of the foregoing sentence, Debtor may grant a security interest in its accounts receivable in order to incur Senior Permitted Indebtedness (as defined in said Credit Agreement) and the Secured Party agrees to do such acts, and to execute such documents, as to permit Debtor to grant such security interest, all at no charge to the Debtor, but at Debtor's sole expense.

  • Schedule 4(d) Use of Proceeds Senior Permitted Indebtedness, including the Company’s Note obligations to Sxx Xxxxxx.

  • Notwithstanding the generality of the foregoing sentence, Debtor may grant a security interest in its accounts receivable in order to incur Senior Permitted Indebtedness (as defined in said Credit Agreement) and the Secured Party agrees to do such acts, and to execute such documents, as to permit Debtor to grant such security interest, all at no charge to the Debtor, but at Debtor’s sole expense.


More Definitions of Senior Permitted Indebtedness

Senior Permitted Indebtedness in this Schedule X.
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Related to Senior Permitted Indebtedness

  • Other Permitted Indebtedness means (a) accrued expenses and current trade accounts payable incurred in the ordinary course of any Obligor’s business which are not overdue for a period of more than 90 days or which are being contested in good faith by appropriate proceedings, (b) Indebtedness (other than Indebtedness for borrowed money) arising in connection with transactions in the ordinary course of any Obligor’s business in connection with its purchasing of securities, derivatives transactions, reverse repurchase agreements or dollar rolls to the extent such transactions are permitted under the Investment Company Act and the Investment Policies, provided that such Indebtedness does not arise in connection with the purchase of Portfolio Investments other than Cash Equivalents and U.S. Government Securities and (c) Indebtedness in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal so long as such judgments or awards do not constitute an Event of Default under clause (l) of Article VII.

  • Permitted Indebtedness means, without duplication, each of the following:

  • Permitted Subsidiary Indebtedness means any of the following:

  • Permitted Financial Indebtedness means Financial Indebtedness:

  • Restricted Indebtedness means Indebtedness of Holdings, the Borrower or any Subsidiary, the payment, prepayment, repurchase or defeasance of which is restricted under Section 6.09(b).

  • Permitted Existing Indebtedness means the Indebtedness of the Borrower and its Subsidiaries identified as such on Schedule 1.1.1 to this Agreement.

  • Acquisition Indebtedness means any Indebtedness of the Company or any Subsidiary that has been incurred for the purpose of financing, in whole or in part, an Acquisition and any related transactions (including for the purpose of refinancing or replacing all or a portion of any related bridge facilities or any pre-existing Indebtedness of the Persons or assets to be acquired); provided that either (a) the release of the proceeds thereof to the Company and the Subsidiaries is contingent upon the substantially simultaneous consummation of such Acquisition (and, if the definitive agreement for such Acquisition is terminated prior to the consummation of such Acquisition, or if such Acquisition is otherwise not consummated by the date specified in the definitive documentation evidencing, governing the rights of the holders of or otherwise relating to such Indebtedness, then, in each case, such proceeds are, and pursuant to the terms of such definitive documentation are required to be, promptly applied to satisfy and discharge all obligations of the Company and the Subsidiaries in respect of such Indebtedness) or (b) such Indebtedness contains a “special mandatory redemption” provision (or a similar provision) if such Acquisition is not consummated by the date specified in the definitive documentation evidencing, governing the rights of the holders of or otherwise relating to such Indebtedness (and, if the definitive agreement for such Acquisition is terminated prior to the consummation of such Acquisition or such Acquisition is otherwise not consummated by the date so specified, such Indebtedness is, and pursuant to such “special mandatory redemption” (or similar) provision is required to be, redeemed or otherwise satisfied and discharged within 90 days of such termination or such specified date, as the case may be).

  • Excluded Indebtedness means all Indebtedness not incurred in violation of Section 6.01.

  • Permitted Acquisition Indebtedness means Indebtedness (including Disqualified Stock) of the Company or any of the Restricted Subsidiaries to the extent such Indebtedness was Indebtedness:

  • Unrestricted Subsidiary Indebtedness of any Unrestricted Subsidiary means Indebtedness of such Unrestricted Subsidiary

  • Permitted Subordinated Indebtedness means Indebtedness incurred after the Closing Date by the Borrower or the Subsidiaries that is (i) subordinated to the Obligations and all other Indebtedness owing from the Borrower or the Subsidiaries to the Lender pursuant to a written subordination agreement satisfactory to the Lender in its sole discretion and (ii) in an amount and on terms approved by the Lender in its sole discretion.

  • Permitted Debt means any Financial Indebtedness:

  • Permitted Convertible Indebtedness means senior, unsecured Indebtedness of the Borrower or any Restricted Subsidiary that is convertible into shares of common stock of the Borrower (or other securities or property following a merger event, reclassification or other change of the common stock of the Borrower), cash or a combination thereof (such amount of cash determined by reference to the price of the Borrower’s common stock or such other securities or property), and cash in lieu of fractional shares of common stock of the Borrower.

  • Related Indebtedness means any and all indebtedness paid or payable by Borrower to Lender pursuant to the Loan Documents or any other communication or writing by or between Borrower and Lender related to the transaction or transactions that are the subject matter of the Loan Documents, except such indebtedness which has been paid or is payable by Borrower to Lender under this Note.

  • Consolidated Senior Secured Indebtedness means, as of any date of determination, Consolidated Total Indebtedness as of such date that is not subordinated in right of payment to the Secured Obligations and is secured by a Lien on the Collateral securing the Loan Document Obligations.

  • Refinance Indebtedness has the meaning assigned to such term in Section 6.01(f).

  • Permitted Secured Indebtedness any Secured Indebtedness that:

  • Balloon Indebtedness means Long-Term Indebtedness, 25% or more of the original principal amount of which becomes due (either by maturity or mandatory redemption) during any consecutive twelve-month period, if such principal amount becoming due is not required to be amortized below such percentage by mandatory redemption or prepayment prior to such twelve-month period.

  • Refinanced Indebtedness shall have the meaning provided in the definition of the term “Permitted Refinancing Indebtedness”.

  • Permitted Refinancing Indebtedness means any Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to renew, refund, refinance, replace, defease or discharge other Indebtedness of the Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness); provided that:

  • Permitted Unsecured Indebtedness means Indebtedness of the Borrower or any Restricted Subsidiary (a) that is not (and any Guarantees thereof by the Borrower or Restricted Subsidiaries are not) secured by any collateral (including the Collateral), (b) that does not mature earlier than the date that is 91 days after the latest maturity date under this Agreement then in effect, and has a weighted average life to maturity no shorter than the Class of Term Loans with the latest maturity date in effect at the time of incurrence of such Indebtedness, (c) that, in the case of such Indebtedness in the form of bonds, debentures, notes or similar instrument, does not provide for any amortization, mandatory prepayment, redemption or repurchase (other than upon a change of control, fundamental change, customary asset sale or event of loss mandatory offers to purchase and customary acceleration rights after an event of default and, for the avoidance of doubt, rights to convert or exchange in the case of convertible or exchangeable Indebtedness) prior to the date that is the latest maturity date in effect at the time of incurrence of such Indebtedness, (d) that contains covenants, events of default, guarantees and other terms that are customary for similar Indebtedness in light of then-prevailing market conditions and, when taken as a whole (other than interest rates, rate floors, fees and optional prepayment or optional redemption terms), are not more favorable to the lenders or investors providing such Permitted Unsecured Indebtedness, as the case may be, than those set forth in the Loan Documents are with respect to the Lenders (other than covenants or other provisions applicable only to periods after the latest maturity date under this Agreement then in effect); provided that a certificate of a Financial Officer of the Borrower delivered to the Administrative Agent at least five Business Days prior to the incurrence of such Indebtedness or the modification, refinancing, refunding, renewal or extension thereof (or such shorter period of time as may reasonably be agreed by the Administrative Agent), together with a reasonably detailed description of the material terms and conditions of such resulting Indebtedness or drafts of the material definitive documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the foregoing requirements shall be conclusive, and (e) that is not guaranteed by any Person other than on an unsecured basis by Loan Parties.

  • Consolidated First Lien Indebtedness means Consolidated Indebtedness that is secured by a first priority Lien (other than Permitted Liens) on assets of any Borrower or Restricted Subsidiary.

  • Project Finance Indebtedness means any present or future indebtedness incurred to finance the ownership, acquisition, development and/or operation of an asset, whether or not an asset of a member of the Group:

  • Second Lien Indebtedness means the Indebtedness of the Loan Parties owing to the Second Lien Agent and the Second Lien Lenders under the Second Lien Credit Agreement, which Indebtedness is on terms and conditions reasonably acceptable to the Collateral Agent.

  • Securitization Indebtedness means (1) Indebtedness of the Issuer or any of its Restricted Subsidiaries incurred pursuant to on-balance sheet Securitizations treated as financings and (2) any Indebtedness consisting of advances made to the Issuer or any of its Restricted Subsidiaries based upon securities issued by a Securitization Entity pursuant to a Securitization and acquired or retained by the Issuer or any of its Restricted Subsidiaries.

  • Senior Secured Indebtedness means, with respect to any Person as of any date of determination, any Specified Indebtedness; provided that such Indebtedness is in each case secured by a Lien on the assets of the Issuer or its Restricted Subsidiaries on a basis pari passu with or senior to the security in favor of the Notes.