Specified Additional Debt means any unsecured senior, senior subordinated or subordinated Debt of the Borrower incurred after the Effective Date under Section 9.02(g) and any refinancing of such Debt, including without limitation, the 2024 Senior Notes; provided that any such Debt may be refinanced only to the extent that the aggregate principal amount of such refinancing Debt does not result in an increase in the principal amount thereof plus amounts to fund any original issue discount or upfront fees relating thereto plus amounts to fund accrued interest, fees, expenses and premiums.
Specified Additional Debt means any unsecured Debt incurred after the Closing Date and any refinancing of such Debt; provided that any such Debt may be refinanced only to the extent that the aggregate principal amount of such refinancing Debt does not result in an increase in the principal amount thereof plus amounts to fund any original issue discount or upfront fees relating thereto plus amounts to fund accrued interest, fees, expenses and premiums; provided further that such Debt does not: (i) prohibit the repayment or prepayment of any Obligations, (ii) have a maturity date that is on or earlier than the date six months after the Maturity Date, (iii) have any sinking fund payments, scheduled principal payments, or mandatory redemption obligations (other than customary redemption provisions in connection with changes in control that also constitute an Event of Default hereunder or certain asset dispositions) that are due on or prior to the date six months after the Maturity Date, or (iv) impose representations, warranties, covenants, conditions, mandatory prepayments, events of default, remedies or other provisions similar to the foregoing that, taken as a whole, are materially more restrictive or burdensome than the comparable terms and provisions of this Agreement.
Specified Additional Debt means the Exchange Notes, the 2025 Second Lien Notes and any secured or unsecured senior, senior subordinated, subordinated loans or notes or other funded debt issued or incurred by the Borrower or a Restricted Subsidiary pursuant to Section 9.02(h) (or any Permitted Refinancing Debt in respect thereof to the extent constituting Specified Additional Debt); provided that (i) such new Debt has a stated maturity no earlier than the date that is 91 days after December 20, 2024 (other than (A) Exchange Notes which may not have a stated maturity earlier than the 2023 Senior Notes and (B) any springing maturity contained in the terms of the 2025 Second Lien Notes as in effect on the Third Amendment Effective Date), (ii) such new Debt (other than the 2025 Second Lien Notes) has an average weighted life to maturity at the time such new Debt is incurred that is no shorter than the period beginning on the date of incurrence of such new Debt and ending on the date that is 91 days after the Revolving Credit Maturity Date (as in effect on the date of incurrence of such new Debt), (iii) such new Debt is not incurred or guaranteed by a non-Guarantor Restricted Subsidiary if the Borrower or a Guarantor is the issuer or is otherwise an obligor on the Specified Additional Debt, and (iv) if secured, secured by Junior Liens subject to the representative of such Debt becoming party to a Customary Intercreditor Agreement.
Examples of Specified Additional Debt in a sentence
In addition to the other redeterminations of and adjustments to the Borrowing Base provided for herein, and notwithstanding anything to the contrary set forth herein, upon the issuance or incurrence of any Specified Additional Debt, the Borrowing Base shall be automatically reduced by an amount equal to 25% of the aggregate stated principal amount of such Specified Additional Debt (without regard to any original issue discount issued at such time).
No Credit Party will amend, supplement or otherwise modify any instruments evidencing, or agreements relating to or executed in connection with, any Specified Additional Debt, in any manner which would (a) violate the requirements set forth in the definition of “Specified Additional Debt”, (b) result in a Material Adverse Change, or (c) be materially adverse to the Lenders.
Such decrease in the Borrowing Base shall occur automatically upon the incurrence of such Specified Additional Debt on the date of incurrence, without any vote of the Lenders or action by the Administrative Agent.
In the event that any Credit Party intends to incur Specified Additional Debt, the Borrower shall provide to the Administrative Agent at least five (5) Business Days’ (or such later date as the Administrative Agent may agree in its sole discretion) prior written notice of such intended incurrence, the intended principal amount thereof and the anticipated date of closing.
The Department of Education shall notify all school districts and schools not meeting the standards for accreditation of deficiencies by June 15 of each year.
More Definitions of Specified Additional Debt
Specified Additional Debt means any unsecured senior, senior subordinated or subordinated Debt of the Borrower incurred after the Effective Date under Section 9.02(g) and any refinancing of such Debt; provided that any such Debt may be refinanced only to the extent that the aggregate principal amount of such refinancing Debt does not result in an increase in the principal amount thereof plus amounts to fund any original issue discount or upfront fees relating thereto plus amounts to fund accrued interest, fees, expenses and premiums.
Specified Additional Debt means any unsecured Debt incurred or issued by a Credit Party after the Closing Date pursuant to Section 6.1(g) and any refinancing of such Debt; provided that, any such Debt may be refinanced only to the extent that the aggregate principal amount of such refinancing Debt does not result in an increase in the principal amount thereof plus amounts to fund any original issue discount or upfront fees relating thereto plus amounts to fund accrued interest, fees, expenses and premiums (including make whole and prepayment premiums); provided further that, such Debt and any refinancing of such Debt does not: (a) prohibit the repayment or prepayment of any Obligations, (b) have a maturity date that is on or earlier than the date six months after the Maturity Date, (c) have any sinking fund payments, scheduled principal payments, or mandatory redemption obligations (other than customary redemption provisions in connection with changes in control that also constitute an Event of Default hereunder, or that arise from asset dispositions customarily regarded in the applicable capital markets as triggering such redemption obligations) that are due on or prior to the date six months after the Maturity Date, or (d) impose representations, warranties, covenants, conditions, mandatory prepayments, events of default, remedies or other provisions similar to the foregoing that, taken as a whole, are materially more restrictive or burdensome than the comparable terms and provisions of this Agreement.
Specified Additional Debt means any unsecured senior or unsecured senior subordinated Debt of the Borrower and any refinancing of such Debt; provided that to continue to constitute “Specified Additional Debt” following a refinancing thereof, any such Debt may be refinanced only to the extent that the aggregate principal amount of such refinancing Debt does not result in an increase in the principal amount thereof plus amounts to fund any original issue discount or upfront fees relating thereto plus amounts to fund accrued interest, fees, expenses and premiums (including make whole and prepayment premiums).
Specified Additional Debt is defined in Section 7.1(h).
Specified Additional Debt means the Exchange Notes and any unsecured senior, senior subordinated, subordinated loans or notes or unsecured funded debt issued or incurred by the Borrower or a Restricted Subsidiary pursuant to Section 9.02(h) (or any Permitted Refinancing Debt in respect thereof to the extent constituting Specified Additional Debt); provided that (i) such new Debt has a stated maturity no earlier than the date that is 91 days after the Revolving Credit Maturity Date (as in effect on the date of incurrence of such new Debt) (other than the Exchange Notes); (ii) such new Debt has an average weighted life to maturity at the time such new Debt is incurred that is no shorter than the period beginning on the date of incurrence of such new Debt and ending on the date that is 91 days after the Revolving Credit Maturity Date (as in effect on the date of incurrence of such new Debt), (iii) such new Debt is not incurred or guaranteed by a non-Guarantor Restricted Subsidiary if the Borrower or a Guarantor is the issuer or is otherwise an obligor on the Specified Additional Debt, and (iv) if secured, secured by Junior Liens subject to the representative of such Debt becoming party to a Customary Intercreditor Agreement.
Specified Additional Debt means any unsecured Debt incurred after the Closing Date and any refinancing of such Debt; provided that any such Debt may be refinanced only to the extent that the aggregate principal amount of such refinancing Debt does not result in an increase in the principal amount thereof plus amounts to fund any original issue discount or upfront fees relating thereto plus amounts to fund accrued interest, fees, expenses and premiums; provided further that such Debt does not: (i) prohibit the repayment or prepayment of any Obligations, (ii) have a maturity date that is on or earlier than the date six months after the Maturity Date, (iii) have any sinking fund payments, scheduled principal payments, or mandatory redemption obligations (other than customary redemption provisions in connection with changes in control that also constitute an Event of Default hereunder or certain asset dispositions) that are due on or
Specified Additional Debt means any secured or unsecured senior, senior subordinated, subordinated loans or notes or other funded debt issued or incurred by the Borrower or a Restricted Subsidiary pursuant to Section 9.02(h) (or any Permitted Refinancing Debt in respect thereof to the extent constituting Specified Additional Debt); provided that (i) such new Debt has a stated maturity no earlier than the date that is 91 days after the Revolving Credit Maturity Date, (ii) such new Debt has an average weighted life to maturity at the time such new Debt is incurred that is no shorter than the period beginning on the date of incurrence of such new Debt and ending on the date that is 91 days after the Revolving Credit Maturity Date (as in effect on the date of incurrence of such new Debt), (iii) such new Debt is not incurred or guaranteed by a non-Guarantor Restricted Subsidiary if the Borrower or a Guarantor is the issuer or is otherwise an obligor on the Specified Additional Debt, and (iv) if secured, secured by Juxxxx Xxxxx xubject to the representative of such Debt becoming party to a Customary Intercreditor Agreement.