Take-Out Debt definition

Take-Out Debt unsecured notes or debentures of the Borrower, subordinated to the prior payment of the Bank Indebtedness that may be issued by the Borrower after the Closing Date to refinance the Loans or Exchange Notes.

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Take-Out Debt has the meaning specified in the Term Loan Agreement.

Take-Out Debt means any Indebtedness issued or incurred to refinance all or any portion of the Indebtedness outstanding under the Senior Subordinated Loans, the Rollover Loans or the Exchange Notes.

Examples of Take-Out Debt in a sentence

Use its commercially reasonable best efforts to cause to be declared effective a registration statement with respect to the Take-Out Debt or to effect a private placement thereof pursuant to Rule 144A or Regulation S of the Securities Act as soon as reasonably practicable after the Closing Date, provided, that if any Warrants have been released from escrow, the Borrower's obligations under this sentence may be satisfied only by causing to be declared effective a registration statement.
If requested in writing by the Company (i) to accommodate delays in the closing of the Permitted Acquisitions or (ii) to provide additional time for the preparation of pro forma financial statements and/or the preparation of financial information to be included in an offering memorandum for the issuance of the Take-Out Debt, the availability of the Initial Loans shall be extended to the Extended Expiration Date.
The Lenders shall be satisfied that there is no competing offering, placement or arrangement of any debt securities (other than the Take-Out Debt) or bank financing (other than the Senior Bank Agreement) by or on behalf of the Company, Multikabel or any of their respective Affiliates.
The Company will use the net proceeds received by it from the sale of the Take-Out Debt to repay the Loans and the Exchange Notes pursuant to Section 2.5(d).
Subject to the other provisions of this Agreement, the Investment Bank, in its reasonable discretion after consultation with the Company, shall determine whether, and in which amounts, the Take-Out Debt shall be issued by the Company and/or Holdings and the amount of each series of Take-Out Debt to be issued if the Take-Out Debt is to be issued in a series of offerings and/or placements and the types or combinations of Take-Out Debt to be issued.

More Definitions of Take-Out Debt

Take-Out Debt unsecured notes or debentures (including convertible debt securities) of the Company that may be issued by the Company after the Closing Date to refinance the Loans or Exchange Notes.

Take-Out Debt means (i) any debt securities or bonds (including, without limitation, capital securities, convertible, perpetual or subordinated bonds, and other hybrid securities) or (ii) any Debt for borrowed money (other than (A) in the case of (i), Permitted Refinancing Debt incurred by the Borrower to refinance the Borrower’s outstanding Notes described in clause (iv) and (v) of the definition of “Indentures” and (B) in the case of (ii), (I) Permitted Refinancing Debt of the type described in clause (c) and clause (g) of the definition of “Permitted Debt,” (II) Debt of the type described in paragraph (d) of “Permitted Debt” and any other intra-Group loans and (III) any extension of credit under the MICSA

Take-Out Debt any notes or debentures (which may include cash pay or non-cash pay securities, senior, subordinate or senior subordinated securities, discount issue securities or a combination of any of the foregoing) of the Company that may be issued by the Company after the Initial Closing Date to refinance the Loans or Exchange Notes.

Take-Out Debt means securities or any debt of the Financial Group that may be issued after the Closing Date to refinance the Facility.

Take-Out Debt cash pay or non-cash pay securities, senior or subordinated securities, discount issue securities or a combination of any of the foregoing issued by the Company and/or Holdings to refinance the Loans or Exchange Notes.

Take-Out Debt shall have the meaning set forth in Section 8.13 hereof.

Take-Out Debt means any underwritten offering or private placement of any debt securities in the debt capital markets or any bank loan or other debt financing, in each case issued or incurred in connection with the Acquisition or to refinance the facility provided for herein; provided that the Other Financing Sources shall not constitute Take-Out Debt.