Synthetic Lease Lenders definition

Synthetic Lease Lenders means those lending institutions that provide financing under the Permitted Synthetic Lease.
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Synthetic Lease Lenders means the various lenders who are parties to the Credit Agreement, dated as of September 30, 1994, which is one of the documents comprising the Synthetic Lease.
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Synthetic Lease Lenders means Wachovia Bank, National Association, for itself and as successor to First Union National Bank, in each instance as a lender and a certificate holder with respect to the Synthetic Leases.
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Examples of Synthetic Lease Lenders in a sentence

  • If the Synthetic Lease were characterized as a true lease, to retain this essential equipment, Fruit of the Loom would be required to make cash payments to the Synthetic Lease Lenders of in excess of $87 million on the Effective Date.

  • Fruit of the Loom has reviewed the Synthetic Lease and its constituent documents and believes that the proper characterization as either a true lease or a financing is not free from doubt, although it is more likely than not that the Synthetic Leases would be characterized as a financing; however, the Synthetic Lease Lenders would, of course, take the opposite view.

  • The representatives of the Synthetic Lease Lenders have agreed that the Synthetic Lease can be treated as a secured claim under the Plan, and to waive their right to be paid in full in Cash on the Effective Date, all as a part of, and contingent upon, the integrated settlements provided for in the Plan.

  • Pursuant to the settlement reached with the Synthetic Lease Lenders which is embodied in the Plan, for purposes of the Plan and the Scheme of Arrangement, the Synthetic Lease is being treated as a financing transaction, not a true lease.

  • In addition to the costs of litigation, if the Effective Date of the Plan were to occur while the litigation were pending, Fruit of the Loom would likely be required to pay the full cash amount payable to the Synthetic Lease Lenders, greatly increasing its immediate cash needs and straining Reorganized Fruit of the Loom's working capital availability.

  • The Synthetic Lease Lenders retained Winston & Strawn as their counsel and Morris, Nichols, Arsht & Tunnell as their Delaware counsel.

  • Each of the foregoing agreements granted the respective liens to the Prepetition Collateral Agent for the ratable benefit of the prepetition Secured Creditors other than the Synthetic Lease Lenders, who became the beneficiaries of those liens, mortgages, and pledges in July 1999.

  • The disclosure regarding the Cayman transaction, the Farley Guarantee and the granting of collateral to the holders of the Prepetition Secured Creditor Claims (now including the claims of the Synthetic Lease Lenders) was repeated in the prospectus issued in July 1999 which specifically noted that all of the liens had become effective and secured all of the Prepetition Secured Creditor Claims, before the 8-7/8% Notes were exchanged.

  • The 8-7/8% Notes were originally issued pursuant to a prospectus dated March 18, 1999, which disclosed the proposed Caymanization, the Farley Guaranty, and the granting of collateral to the Prepetition Secured Creditors (other than the Synthetic Lease Lenders).

  • Pursuant to the Synthetic Lease Credit Agreement, the Trustee transferred, conveyed, and assigned to CSFB, for the benefit of the Synthetic Lease Lenders, all of its right, title, and interest in the Synthetic Lease.

Related to Synthetic Lease Lenders

  • Synthetic Lease means, at any time, any lease (including leases that may be terminated by the lessee at any time) of any property (a) that is accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or obtains ownership of the property so leased for U.S. federal income tax purposes, other than any such lease under which such Person is the lessor.

  • Synthetic Leases means, in respect of any Person, all leases which shall have been, or should have been, in accordance with GAAP, treated as operating leases on the financial statements of the Person liable (whether contingently or otherwise) for the payment of rent thereunder and which were properly treated as indebtedness for borrowed money for purposes of U.S. federal income taxes, if the lessee in respect thereof is obligated to either purchase for an amount in excess of, or pay upon early termination an amount in excess of, 80% of the residual value of the Property subject to such operating lease upon expiration or early termination of such lease.

  • Synthetic Lease Obligations means, as to any person, an amount equal to the capitalized amount of the remaining lease payments under any Synthetic Lease that would appear on a balance sheet of such person in accordance with GAAP if such obligations were accounted for as Capital Lease Obligations.

  • Synthetic Lease Obligation means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).

  • Existing Lenders has the meaning specified in the recitals hereto.

  • Operating Lease Obligations means all obligations for the payment of rent for any real or personal property under leases or agreements to lease, other than Capitalized Lease Obligations.

  • Minority Lenders has the meaning provided in SECTION 9.02(c).

  • Capitalized Lease Obligations of a Person means the amount of the obligations of such Person under Capitalized Leases which would be shown as a liability on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles.

  • Lenders means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

  • New Lenders has the meaning set forth in Section 2.16(c).

  • Financing Lease Obligation means, as applied to any Person, an obligation that is required to be accounted for as a financing or capital lease (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP. At the time any determination thereof is to be made, the amount of the liability in respect of a financing or capital lease would be the amount required to be reflected as a liability on such balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Capitalized Lease Liabilities means all monetary obligations of the Borrower or any of its Subsidiaries under any leasing or similar arrangement which, in accordance with GAAP, would be classified as capitalized leases, and, for purposes of this Agreement and each other Loan Document, the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP, and the stated maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty.

  • Capital Lease Obligations of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

  • Revolving Facility Exposure means, for any Lender at any time, the sum of (i) the principal amount of Revolving Loans made by such Lender and outstanding at such time, and (ii) such Lender’s share of the LC Outstandings at such time.

  • Subordinated Lenders means each and every Person to whom any of the Subordinated Indebtedness are owed.

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.

  • Finance Lease Obligations means, at the time any determination thereof is to be made, the amount of the liability in respect of a Finance Lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP; provided that Finance Lease Obligations shall, for the avoidance of doubt, exclude all Non-Finance Lease Obligations.

  • Capitalized Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Refinancing Lenders has the meaning specified in Section 2.15(c).

  • Affiliated Lender Cap has the meaning assigned to such term in Section 9.05(g)(iv).

  • Non-Financing Lease Obligation means a lease obligation that is not required to be accounted for as a financing or capital lease on both the balance sheet and the income statement for financial reporting purposes in accordance with GAAP. For the avoidance of doubt, a straight-line or operating lease shall be considered a Non-Financing Lease Obligation.

  • Revolving Lenders means, as of any date of determination, Lenders having a Revolving Loan Commitment.

  • Capital Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Revolving Credit Lenders means the financial institutions from time to time parties hereto as lenders of the Revolving Credit.

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.