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, (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 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.
Examples of Springing Maturity Condition in a sentence
Such Springing Maturity Date shall be conditioned on the Springing Maturity Condition.
The notice shall state: (1) the anticipated Springing Maturity Date; (2) the aggregate amount payable in respect of the Notes on the Springing Maturity Date; (3) the name and address of the Paying Agent; (4) that Notes must be surrendered to the Paying Agent to collect payment; (5) that interest shall continue to accrue to but excluding the Springing Maturity Date; and (6) that the Springing Maturity Date is conditioned on the Springing Maturity Condition.
The Notes will mature (x) if the Springing Maturity Condition does not apply, on June 15, 2028, or (y) if the applicable Springing Maturity Condition does apply, the applicable Springing Maturity Date; provided that, if such day is not a Business Day, the Springing Maturity Date shall be the Business Day immediately succeeding such day.
The Notes will mature (x) if the Springing Maturity Condition does not apply, on April 15, 2025, or (y) if the Springing Maturity Condition does apply, the Springing Maturity Date.
Vector Group Ltd., a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Note at 5.75% per annum from ________________, 20__ until maturity on (x) if the Springing Maturity Condition does not apply, February 1, 2029, or (y) if the Springing Maturity Condition does apply, the Springing Maturity Date.
More Definitions of Springing Maturity Condition
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, 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.
Springing Maturity Condition means 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.” ARTICLE II Section 2.1. The New Revolving Loan Commitments: (a) Subject to the terms and conditions set forth herein, on the Amendment No. 11 Effective Date, each Person party hereto that executes a signature page hereto as a “New Revolving Credit Lender” and has a New Revolving Loan Commitment set forth opposite its name on Annex A hereto agrees, severally and not jointly, (i) that it shall have a New Revolving Loan Commitment in the amount set forth opposite its name on Annex A hereto and (ii) to make Revolving Credit Loans to the Borrower as described in Section 2.01(b)
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- xxxxx 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-
Springing Maturity Condition means, with respect to the Term Loan Facility or Revolving Credit Facility, as applicable, (x) the 2022 Convertible Senior Notes and the Other Convertible Notes (if any) have not been repurchased (and cancelled), redeemed, defeased, repaid, satisfied and discharged or refinanced before the Springing Maturity Date with permitted Indebtedness maturing at least 91 days after the Initial Term Loan Maturity Date or Revolving Credit Maturity Date, as applicable, (y) the maturity date applicable to the 2022 Convertible Senior Notes and the Other Convertible Notes (if any), has not been extended beyond the date that is 91 days after the Initial Term Loan Maturity Date or Revolving Credit Maturity Date, as applicable, and (z) Liquidity as of the Springing Maturity Date does not equal or exceed the sum of (A) the aggregate amount required to be paid to redeem the 2022 Convertible Senior Notes and the Other Convertible Notes (if any) at such time plus (B) $20,000,000.
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 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 (i) an issuance of Qualified Equity Interests of Holdings to a Person other than a Subsidiary of Holdings or (ii) Disposition of assets of Holdings or a Subsidiary thereof and/or (c) a capital contribution to Holdings from a Person other than a Subsidiary of Holdings.
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.