Subordinated Intercompany Debt definition

Subordinated Intercompany Debt shall have the meaning assigned to such term in Section 6.01(e).

Subordinated Intercompany Debt means unsecured Indebtedness (a) subordinated to the Obligations by provisions substantially in the form set forth in Schedule II hereto and (b) the terms of which (including interest rate) are not more burdensome to the obligor or obligors thereunder than those terms generally available from independent third parties to obligors similarly situated as such obligor or obligors.

Subordinated Intercompany Debt means Debt of the Borrower or the Guarantor owing to Andersons or any of its Subsidiaries that has been subordinated to the Obligations in right of payment in a manner satisfactory to the Agent.

Examples of Subordinated Intercompany Debt in a sentence

• Without limiting the last sentence of Section 4.03(c), each Grantor will cause any Subordinated Intercompany Debt that constitutes Indebtedness for borrowed money owed to it by any Subsidiary of the Borrower that is not an Obligor to be evidenced by the Intercompany Note, duly executed by it and delivered to the Collateral Agent for the ratable benefit of the Secured Parties.

• The Obligations constitute “Senior Debt” (or the equivalent thereof) under the Subordinated Intercompany Debt and any Permitted Refinancing Indebtedness in respect thereof.

• Until the Subordination Termination Date, no Subordinated Creditor shall, without the prior written consent of the Micron Parties, take any Enforcement Action with respect to the Subordinated Intercompany Debt.

• No Guarantor shall commence any action or proceeding against Borrower to recover all or any part of the Subordinated Intercompany Debt or join with any other creditor, unless Banks and LC Issuer shall also join, in bringing any proceedings against Borrower under any bankruptcy, reorganization, readjustment of debt, arrangement of debt, receivership, liquidation or insolvency law or statute of the Federal or any state government unless and until all Senior Debts shall have been paid in full.

• Any indebtedness of any Borrower subordinated to Bank on terms satisfactory to Bank in its sole discretion, including the Subordinated Intercompany Debt in accordance with the terms of the Intercompany Debt Subordination Agreement.

More Definitions of Subordinated Intercompany Debt

Subordinated Intercompany Debt has the meaning stated therefor in Section 9.24.

Subordinated Intercompany Debt means unsecured loans made by Debtor to Guarantor, provided that such Indebtedness shall be subordinated pursuant to a subordination agreement in favour of (among others) the Sprott Entities pursuant to which, among other things, Dxxxxx agrees (a) to subordinate and postpone the Indebtedness to the PF Obligations, (b) that no Liens have been or will be taken, (c) that no remedies will be exercised while any PF Obligations remain outstanding, and (d) that in connection with any Insolvency Event, Debtor will not vote its claim in respect thereof in any manner that would prejudice the Sprott Entities’ rights and remedies under this Debenture or any of the Security.”.

Subordinated Intercompany Debt means Debt of any Credit Party owing to any other Credit Party that is subordinated in right of payment and otherwise to the Revolving Loan and the other Credit Obligations in a manner satisfactory to the Administrative Agent.

Subordinated Intercompany Debt means unsecured loans made solely among one or more Seller PSA Entities, provided that such Financial Indebtedness shall be subordinated pursuant to a Subordination Deed.

Subordinated Intercompany Debt any Indebtedness of the Borrower or any other Loan Party owed to Holdings, the terms of which are expressly subordinated in right of payment in full to the Obligations by the execution and delivery of the Intercompany Subordination Agreement.

Subordinated Intercompany Debt means all obligations, liabilities and indebtedness of every nature of (i) Newco from time to time owed to Acquisition Sub, Tower or any of their respective subsidiaries, successors or assigns under the Subordinated Debt Documents and (ii) Acquisition Sub owed to Newco, Tower or any of their respective subsidiaries, successors or assigns under the Subordinated Debt Documents, in each case including the principal amount of all debts, claims and indebtedness, accrued and unpaid interest and all fees, costs and expenses, whether primary, secondary, direct, contingent, fixed or otherwise, heretofore, now and from time to time hereafter owing, due or payable, whether before or after a Bankruptcy Event together with (a) any amendments, refinancings, modifications, renewals, increases or extensions thereof and (b) any interest, fees, expenses, premiums or other amounts accruing thereon after the commencement of a Bankruptcy Event, without regard to whether or not such interest, fees, expenses, premiums or other amounts are allowed or allowable in whole or in part in any such Bankruptcy Event.

Subordinated Intercompany Debt means, on any date, any Intercompany Debt