Springing Maturity Condition definition
Springing Maturity Condition means a condition that is satisfied if, on any Springing Maturity Test Date, the aggregate principal amount of Earlier Maturity Debt outstanding that has a final stated maturity date that is on or prior to ninety-one (91) days after such Springing Maturity Test Date, together with the aggregate principal amount of all Earlier Maturity Debt for which the final stated maturity date has occurred prior to such Springing Maturity Test Date, exceeds $1,000,000,000.
Springing Maturity Condition means that, on any Springing Maturity Test Date, the aggregate principal amount of Term Loans outstanding that have a final stated Maturity Date that is on or prior to ninety-one (91) days after such Springing Maturity Test Date, together with the aggregate principal amount of all Term Loans for which the final stated Maturity Date has occurred prior to such Springing Maturity Test Date, exceeds $1,100,000,000.”
Springing Maturity Condition means that, on the Springing Maturity Date, at least $702,362,506.82 of Initial Term Loans (such amount to be increased dollar for dollar by the amount of First Lien Obligations and any other Indebtedness that is secured by the Collateral on an equal priority basis (but without regard to the control of remedies) with liens on the Collateral securing the Obligations, in each case incurred by the Borrower that would not be considered Permitted Initial Term Loan Refinancing Indebtedness) have not been repurchased (and terminated), repaid or refinanced with (w) Permitted Initial Term Loan Refinancing Indebtedness, (x) net cash proceeds of an issuance of Qualified Stock of the Borrower that is issued to a Person other than a Subsidiary of the Borrower, (y) internally generated cash and/or (z) a capital contribution to the Borrower from a Person other than a Subsidiary of the Borrower.
Examples of Springing Maturity Condition in a sentence
Such Springing Maturity Date shall be conditioned on the Springing Maturity Condition.
The Trustee shall have no duty to monitor the conditions giving rise to, or independently determine or verify whether the Springing Maturity Condition has occurred.
The Issuer shall cause notice of the occurrence of the Springing Maturity Condition to be delivered to the Trustee and the Holders of the Notes upon the occurrence of the Springing Maturity Condition, and in advance of making the payment on the Notes on the new maturity date.
The Notes will mature on (x) if the Springing Maturity Condition does not apply, on the Maturity Date, or (y) if the Springing Maturity Condition does apply, either the Springing Maturity Date for the 2020 Notes or the Springing Maturity Date for the 2023 Notes, as applicable; provided that, if such day is not a Business Day, the maturity date shall be the Business Day immediately succeeding such day (any such date, a “Springing Maturity Date”).
The Notes will mature on (x) if the Springing Maturity Condition does not apply, on the Maturity Date, or (y) if the Springing Maturity Condition does apply, the Springing Maturity Date; provided that, if such day is not a Business Day, the maturity date shall be the Business Day immediately succeeding such day (any such date, a “Springing Maturity Date”).
More Definitions of Springing Maturity Condition
Springing Maturity Condition means that, (A) on the Springing Maturity Date for 2020 Notes, an aggregate principal amount of Unsecured Notes Due 2020 in excess of $275,000,000 are either outstanding or have not been repurchased (and cancelled), redeemed, defeased, repaid, refinanced or satisfied and discharged with (a) Permitted Notes Refinancing Debt, (b) net cash proceeds of an issuance of Qualified Equity Interests of Holdings to a Person other than a Subsidiary of Holdings and/or (c) a capital contribution to Holdings from a Person other than a Subsidiary of Holdings or (B) to the extent the Maturity Date has not occurred prior to such time, on the Springing Maturity Date for 2023 Notes, an aggregate principal amount of Unsecured Notes Due 2023 in excess of $125,000,000 are either outstanding or have not been repurchased (and cancelled), redeemed, defeased, repaid, refinanced or satisfied and discharged with (a) Permitted Notes Refinancing Debt, (b) net cash proceeds of an issuance of Qualified Equity Interests of Holdings to a Person other than a Subsidiary of Holdings and/or (c) a capital contribution to Holdings from a Person other than a Subsidiary of Holdings.
Springing Maturity Condition means that, on the Springing Maturity Date, Initial Term Loans having an aggregate principal amount in excess of $200,000,000 have not been repurchased (and terminated), repaid or refinanced with (w) Permitted Initial Term Loan Refinancing Debt, (x) net cash proceeds of an issuance of Qualified Equity Interests of the Borrower that is issued to a Person other than a Subsidiary of the Borrower, (y) internally generated cash and/or (z) a capital contribution to the Borrower from a Person other than a Subsidiary of the Borrower.
Springing Maturity Condition means that, to the extent the Maturity Date has not occurred prior to such time, on the Springing Maturity Date, an aggregate principal amount of the 2023 Notes in excess of $125,000,000 are either outstanding or have not been repurchased (and cancelled), redeemed, defeased, repaid, refinanced or satisfied and discharged with (a) Refinancing Indebtedness, (b) net cash proceeds of an issuance of Qualified Equity Interests of Holdings to a Person other than a Subsidiary of Holdings, (c) a capital contribution to Holdings from a Person other than a Subsidiary of Holdings and/or (d) cash on balance sheet or proceeds from Asset Sales.
Springing Maturity Condition set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: ““Springing Maturity Condition” shall mean that, on the Springing Maturity Date with respect to any applicable Class of Term Loans or the Senior Secured Notes, as applicable, Term Loans of such Class or Senior Secured Notes, as applicable, having an aggregate principal amount in excess of $400,000,000 have not been repurchased (and terminated), repaid or refinanced with (v) Permitted Specified Refinancing Debt, (w) net cash proceeds of an issuance of Qualified Equity Interests of the Borrower that is issued to a Person other than a Subsidiary of the Borrower, (x) internally generated cash, (y) a capital contribution to the Borrower from a Person other than a Subsidiary of the Borrower and/or (z) the proceeds of any Borrowing under the Revolving Credit Facility.” (e) The Credit Agreement is hereby amended by replacing the definition “Springing Maturity Date” in Section 1.01 of the Credit Agreement in its entirety with the following: ““Springing Maturity Date” means (i) with respect to the Incremental B-5 Dollar Term Loans, the date that is 91 days before the seventh anniversary of the Incremental B-4 Dollar Term Loan Amendment Effective Date, (ii) with respect to the Incremental B-4 Euro Term Loans, the date that is 91 days before the seventh anniversary of the Amendment No. 6 Effective Date, (iii) with respect to the Incremental B-5 Euro Term Loans, the date that is 91 days before the fifth anniversary of the Amendment No. 6 Effective Date and (iv) with respect to the Senior Secured Notes, the date that is 91 days prior to November 1, 2025.”
Springing Maturity Condition means that, to the extent the Maturity Date has not occurred prior to such time, (i) on the 2022 Springing Maturity Date, an aggregate principal amount of Secured 7.875% Notes Due 2022 in excess of $350,000,000 are either outstanding or have not been subject to a Springing Maturity Condition Refinancing, (ii) on the 2023 Springing Maturity Date, an aggregate principal amount of Unsecured High Yield Notes in excess of $125,000,000 are either outstanding or have not been subject to a Springing Maturity Condition Refinancing and (iii) on the 2024 Springing Maturity Date, an aggregate principal amount of Secured 8.500% Notes Due 2024 in excess of $125,000,000 are either outstanding or have not been subject to a Springing Maturity Condition Refinancing.
Springing Maturity Condition means the condition whereby the entire aggregate principal amount of the Existing Unsecured Notes (including, for avoidance of doubt, any amendment, modification, supplement, renewal, restatement, refinancing, replacement or restructuring (whether upon or after termination or otherwise) thereof)) has not been repurchased (and cancelled), redeemed, defeased, repaid or satisfied and discharged or refinanced with Indebtedness with a maturity date that is at least 91 days after the maturity date of the Notes in full prior to the Springing Maturity Date. “Springing Maturity Date” means the date that is 91 days before the final stated maturity date of the Existing Unsecured Notes. “Stated Maturity” means, with respect to any installment of interest or principal on any series of Indebtedness, the date on which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of the date of this Indenture, and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. “Subsidiary” means, with respect to any specified Person: (1) any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and (2) any partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb). “Treasury Rate” means, as of any redemption date, the yield to maturity as of such redemption date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to the redemption date (or, if such Statist...
Springing Maturity Condition means the condition whereby the entire aggregate principal amount of the 2024 Unsecured Notes or any Refinancing Indebtedness in respect thereof has not been repurchased (and can- celled), redeemed, defeased, repaid or satisfied and discharged or refinanced with Indebtedness with a maturity date that is at least 91 days after the maturity date of the Notes in full prior to the Springing Maturity Date. “Springing Maturity Date ” means the date that is 91 days before the maturity date with respect to the 2024 Unsecured Notes. “Standard Receivables Undertakings ” means representations, warranties, covenants, indemnities and guar- antees of obligations thereunder entered into by Parent or any of its Subsidiaries which the Company has determined in good faith to be customary in a Receivables Facility including, without limitation, those relating to the servicing of the assets of a seller of Receivables Assets, it being understood that any Receivables Repurchase Obligation and a non-credit related recourse accounts receivable factoring arrangement shall each be deemed to be a Standard Receiv- ▇▇▇▇▇ Undertaking; it being understood, for the avoidance of doubt, that such obligations pursuant to the Existing Receivables Facility shall be deemed to be Standard Receivables Undertakings with respect to the Existing Receiva- bles Facility. “Standard Securitization Undertakings ” means representations, warranties, covenants, indemnities and guarantees of obligations thereunder entered into by Parent or any of its Subsidiaries which the Company has deter- mined in good faith to be customary in a Securitization Transaction including, without limitation, those relating to -37-