Subordinated Funding definition
Examples of Subordinated Funding in a sentence
The Company shall procure that any monies which are at any time contributed by any member of the Group to any member of the Bank Group shall be contributed by way of Subordinated Funding, by way of an investment through capital contribution or a subscription or issuance of securities or convertible unsecured loan stock in the relevant member of the Bank Group.
The Parent shall in turn ensure that any such Subordinated Funding received by it is contributed to the other members of the UK Group by way of Parent Funding.
If the Company’s monthly management-prepared projections indicate a negative cash position (a “Liquidity Shortfall”) in any month ending on or prior to December 31, 2018 (a “Shortfall Month”), then the Company shall issue, prior to the commencement of such Shortfall Month, Equity Interests not constituting Disqualified Equity Interests and/or incur Subordinated Funding resulting in Equity Proceeds in an amount at least equal to the Liquidity Shortfall.
Telewest UK shall procure that any monies which are at any time contributed by any member of the Group to any member of the TCN Group shall be contributed by way of Subordinated Funding, by way of an investment through capital contribution or a subscription of securities or convertible unsecured loan stock in the relevant member of the TCN Group.
Create, incur, assume or suffer to exist any Indebtedness, other than (a) Indebtedness under the Loan Documents, the Commitment Letter and the Interim Facility Fee Letter, (b) any Indebtedness arising from obligations under or in connection with the Acquisition or contemplated by the Structure Memorandum, (c) Subordinated Funding, and (d) Indebtedness approved by the Required Lenders.
No later than 45 days following the incurrence by any member of the Bank Group of any Indebtedness which constitutes Subordinated Funding (or such longer period as the Administrative Agent may agree in its discretion), the Company or such member of the Bank Group will cause each creditor in respect of any such Indebtedness to enter into a Pledge Agreement in substantially the form attached as Exhibit F-3, with respect to such Indebtedness.
Any Subordinated Funding shall, within 10 Business Days following the date it is made available, be subject to security in a form acceptable to the Agent (acting reasonably).
As of each Advance Date, no Forecast Funding Shortfall (determined in the case of the Initial Advance under the Term Loan Facilities without taking account of any amount of Net Operating Cashflow in excess of the Base Net Operating Cashflow Amount, any amount of Contingent Equity, any amount of Contingent Subordinated Funding or any amount of the Contingent Debt Facilities) has occurred and is continuing or could reasonably be expected to result from any Advance proposed to be made thereon.
The Chargor shall not incur any Permitted Secured Public Indebtedness unless and until the Chargor complies with Clause 2.3(b) hereof and, if applicable, enters into a Permitted Subordinated Funding Loan Assignment Agreement and in any event a Sharing Agreement, in each case, in relation to the relevant Funding Loan.
For the avoidance of doubt, nothing in this Deed shall operate to assign pursuant to clause 2.1 above or charge pursuant to clause 2.2 above any of the Chargor's rights under any Permitted Subordinated Funding Loan or Permitted Subordinated Funding Loan Agreement where any consent to such assignment or charge is required under the Existing Intercreditor Deed, until such time as that consent has been obtained in accordance with the terms thereof.