Significant Debt definition

Significant Debt is defined as a single occurrence of borrowing outside the normal course of the Company’s business that is in excess of $25,000.
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Significant Debt means any indebtedness - except for bank loans - in the form of or represented by bonds, debt certificates or other financial debt instruments, listed or subject to possible listing or traded or tradable on any securities exchange or in other securities market (including for example, any over-the- counter market).
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Significant Debt means all obligations (present and future) outstanding under the Credit Agreement and all other Debt in the original aggregate principal amount of $1 million or greater created, incurred, assumed or guaranteed by the Company (and all renewals, extensions or refundings thereof), unless the instrument under which such Debt is created, incurred, assumed or guaranteed expressly provides that such Debt is not "Significant Debt" for purposes of this definition. Notwithstanding anything to the contrary in the foregoing, Significant Debt shall not include (i) any Debt of the Company or any of its Subsidiaries to the Company or any of its Subsidiaries, (ii) may trade payable of the Company or any Subsidiary, even if overdue, or (iii) any Senior Subordinated Notes.
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Examples of Significant Debt in a sentence

  • It is not in default in any material respect under any Significant Debt Agreement.

  • It will promptly notify Lender of (a) any Material Adverse Effect, (b) any waiver, release or default under any Significant Debt Agreement, (c) any claim not covered by insurance against Borrower or any of Borrower's properties, and (d) the commencement of, and any material determination in, any litigation with any third party or any proceeding before any Governmental Authority affecting it, except litigation or proceedings which, if adversely determined, would not have a Material Adverse Effect.

  • It will comply in all material respects with (i) all Significant Debt Agreements, and (ii) all agreements and contracts to which it is a party, a breach of which could result in a Material Adverse Effect.

  • Borrower will comply in all material respects with all Significant Debt Agreements.

  • It will comply in all material respects with all Significant Debt Agreements.

  • Neither it nor any of its Subsidiaries is in default under any Significant Debt Agreement or any material license, lease or other contract to which it is a party or by which it is bound, nor does it know of any dispute regarding any material license, lease or other contract.

  • Neither the Borrower nor the General Partner is in default in any material respect under any Significant Debt Agreement.

  • It will comply, and will cause each Subsidiary to comply, in all material respects with (a) all Significant Debt Agreements, and (b) all licenses, leases and other contracts to which they are a party and a breach of which could result in a Material Adverse Effect.

  • Neither Borrower nor any Guarantor is in default in any material respect under any Significant Debt Agreement.

  • Borrower will, and will cause each of its Domestic Subsidiaries to, comply with (i) any and all covenants and provisions of this Credit Agreement, the Notes and all other Credit Documents to which it is respectively a party and (ii) all Significant Debt Agreements and other material agreements or instruments to which it is respectively a party.

Related to Significant Debt

  • Current Debt of any Person shall mean as of the date of any determination thereof (i) all indebtedness of such Person for borrowed money other than Funded Debt of such Person, including, without limitation, debt owed to banks, and (ii) Guaranties by such Person of Current Debt of others.

  • Relevant Debt means any present or future indebtedness in the form of, or represented by, bonds, notes, debentures, loan stock or other securities that are for the time being, or are capable of being, quoted, listed or ordinarily dealt in on any stock exchange, automated trading system, over-the-counter or other securities market.

  • Significant Assets means one or more assets or businesses which, when purchased, optioned or otherwise acquired by the CPC, together with any other concurrent transactions, would result in the CPC meeting the initial listing requirements of the Exchange.

  • Permitted Financial Indebtedness means Financial Indebtedness:

  • Project Debt means Indebtedness of one or more Project Subsidiaries incurred for the purpose of holding, constructing or acquiring power generation facilities or related or ancillary assets or properties; provided that the Company is not liable with respect to such Indebtedness except to the extent of a non-recourse pledge of equity interests in one or more Project Subsidiaries.