Takeout Debt definition

Takeout Debt has the meaning given to such term in the Fee Letter.
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Takeout Debt means debt incurred in the form of loans or securities, the proceeds of which are used to replace the funding provided by or to be provided by, to repay or issue in lieu of any portion of the principal, other amounts or commitments then outstanding under any Facility.
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Takeout Debt means, at any date of determination, the outstanding aggregate principal amount of all Debt issued by the Company after the date hereof, to the extent the same resulted in a dollar-for-dollar reduction in the commitments in respect of the 364-Day Credit Agreement.
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Examples of Takeout Debt in a sentence

  • Notwithstanding the foregoing, any proceeds from the sale or other placement of Takeout Debt or Takeout Equity funded or purchased by a Lender or one or more of its Affiliates will be applied first to the Loans of such Lender and second, any excess after the application of such proceeds in accordance with clause first of this sentence will be applied in accordance with the immediately preceding sentence.

  • Any proceeds from the sale of Secured Takeout Debt (as defined in the Fee Letters) funded or purchased by a Lender or one or more of its affiliates will be applied, first, to refinance the Secured Bridge Loans held at that time by such Lender, and second, in accordance with the pro rata provisions otherwise applicable to prepayments.

  • The aggregate principal amount of the Bridge Loans available to be borrowed on the Bridge Closing Date will be automatically reduced by the gross cash proceeds received by the Company from any sale or placement by the Company of Takeout Notes, other Takeout Debt or net cash proceeds of all Equity Offerings as set forth in Section 9 of the Commitment Letter consummated after the Original Commitment Letter Date and on or prior to the Bridge Closing Date.

  • Any proceeds from the sale or other placement of Takeout Notes or other Takeout Debt funded or purchased by a Lender or one or more of its affiliates will be applied, first, to refinance the Bridge Loans held at that time by such Lender, and second, in accordance with the pro rata provisions otherwise applicable to prepayments.

  • Within ninety (90) days after the Closing Date, Borrowers shall enter into and shall maintain in full force and effect arrangements which hedge interest rate exposure with respect to an amount equal to no less than $450,000,000 either through one or more Hedging Agreements or the issuance of the Takeout Debt.

  • Any proceeds from the sale of Unsecured Takeout Debt (as defined in the Fee Letters) funded or purchased by a Lender or one or more of its affiliates will be applied, first, to refinance the Unsecured Bridge Loans held at that time by such Lender, and second, in accordance with the pro rata provisions otherwise applicable to prepayments.


More Definitions of Takeout Debt

Takeout Debt means Indebtedness incurred or issued by the Borrower, the proceeds of which shall be used solely to refinance the Bridge Loans, Extended Term Loans (if any) and Exchange Notes (if any) and to pay accrued and unpaid interest and the aggregate amount of original issue discount, premiums (including tender premiums), and underwriting discounts, defeasance costs and fees and expenses in connection therewith, which Takeout Debt shall comply with the limitations set forth in clauses (a), (b), (c) (other than the proviso to clause (c)) and (d) of the definition of “Refinancing Notes”.
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Takeout Debt means the senior unsecured notes to be issued by Company to refinance or replace (whether before or after the Closing Date) the Bridge Loans Facility (and pay fees or expenses in connection therewith) and the Indebtedness represented thereby.
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Related to Takeout Debt

  • Relevant Debt means any present or future indebtedness in the form of, or represented by, bonds, notes, debentures, loan stock or other securities that are for the time being, or are capable of being, quoted, listed or ordinarily dealt in on any stock exchange, automated trading system, over-the-counter or other securities market.

  • Payoff Indebtedness means Indebtedness of the types set forth in subsections (a) and (b) of the definition of Indebtedness.

  • Purchased Asset Documents means, with respect to a Purchased Asset, the documents comprising the Purchased Asset File for such Purchased Asset.

  • Current Debt of any Person shall mean as of the date of any determination thereof (i) all indebtedness of such Person for borrowed money other than Funded Debt of such Person, including, without limitation, debt owed to banks, and (ii) Guaranties by such Person of Current Debt of others.

  • Replacement Debt means any Refinancing Indebtedness (whether borrowed in the form of secured or unsecured loans, issued in a public offering, Rule 144A under the Securities Act or other private placement or bridge financing in lieu of the foregoing or otherwise) incurred in respect of Indebtedness permitted under Section 6.01(a) (and any subsequent refinancing of such Replacement Debt).