Term Debt Reserve definition

Term Debt Reserve means the aggregate amount of reserves established by the Administrative Agent with respect to (a) any Indebtedness of the Borrower or any Restricted Subsidiary that matures before the Maturity Date (other than purchase money obligations permitted by Section 7.03(e) or Indebtedness permitted by Section 7.03(l) or 7. 03(m)), such reserves to be in an amount not less than the outstanding principal amount of such Indebtedness plus accrued interest thereon; provided that any Term Debt Reserve taken with respect to any such Indebtedness shall not go into effect until ninety (90) days prior to the maturity date of such Indebtedness, and (b) the Convertible Senior Notes (or other debt securities convertible into equity) at any time prior to the date that is ninety (90) days prior to the maturity date thereof if the holders thereof may then exercise their right to convert, if the Administrative Agent receives notice from the Borrower that holder(s) of Convertible Senior Notes (or another issue of debt securities convertible into equity) in an aggregate principal amount of $25,000,000 or more have elected to convert such holders’ Convertible Senior Notes (or other debt securities) prior to the maturity date thereof, such reserves to be in an amount not less than the outstanding principal amount of the Convertible Senior Notes (or such other debt securities).
Term Debt Reserve means the aggregate amount of reserves established by the Administrative Agent with respect to (a) any Indebtedness of the Borrower or any Restricted Subsidiary that matures before the Extended Tranche Maturity Date (other than purchase money obligations permitted by Section ‎7.03(f) or Indebtedness permitted by Section ‎7.03(m) or ‎7.03(n)), such reserves to be in an amount not less than the outstanding principal amount of such Indebtedness plus accrued interest thereon; provided that any Term Debt Reserve taken with respect to any such Indebtedness shall not go into effect until ninety (90) days prior to the maturity date of such Indebtedness, and (b) the Convertible Senior Notes (or other debt securities convertible into equity) at any time prior to the date that is ninety (90) days prior to the maturity date thereof if the holders thereof may then exercise their right to convert, if the Administrative Agent receives notice from the Borrower that holder(s) of Convertible Senior Notes (or another issue of debt securities convertible into equity) in an aggregate principal amount of $25,000,000 or more have elected to convert such holders’ Convertible Senior Notes (or other debt securities) prior to the maturity date thereof, such reserves to be in an amount not less than the outstanding principal amount of the Convertible Senior Notes (or such other debt securities).
Term Debt Reserve means the aggregate amount of reserves established by the Administrative Agent with respect to any Indebtedness of the Borrower or any Restricted Subsidiary that matures before the Maturity Date (other than purchase money obligations permitted by Section 7.03(e) and Indebtedness permitted by Section 7.03(l) or 7.03(m)), such reserves to be in an amount not less than the outstanding principal amount of such Indebtedness plus accrued interest thereon; provided that any Term Debt Reserve taken with respect to any such Indebtedness shall not go into effect until ninety (90) days prior to the maturity date of such Indebtedness.

Examples of Term Debt Reserve in a sentence

  • If the result of the foregoing is a negative number, then the Term Debt Reserve shall be zero (-0-).


More Definitions of Term Debt Reserve

Term Debt Reserve. (i) with respect to any of the Term Debt, a reserve established by the Agent at any time on or after the date that is ninety (90) days prior to the maturity date of such Term Debt, which reserve does not exceed the outstanding principal amount of such Term Debt, plus any other amounts owing with respect to, or to be paid in respect of, such Term Debt on or prior to the maturity date thereof; less (ii) the amount of the Term Debt Cash Collateral. If the result of the foregoing is a negative number, then the Term Debt Reserve shall be zero (-0-).”

Related to Term Debt Reserve

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • First Lien Term Loans means the “Term Loans” as defined in the First Lien Credit Agreement.

  • Class A Cash Collateral Account means, in respect of the Class A Liquidity Facility, an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it so qualifies, into which amounts shall be deposited as referred to in Section 3.05(f).

  • Required Cash Collateral Amount shall have the meaning provided in Section 3.7(c).

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • Initial Collateral Amount means $1,000,000,000, which equals the sum of (i) the Class A Note Initial Principal Balance, (ii) the Class B Note Initial Principal Balance, (iii) the Class C Note Initial Principal Balance and (iv) the Initial Excess Collateral Amount.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • First Lien Debt means the Initial First Lien Debt and any Additional First Lien Debt.

  • L/C Cash Collateral Account means an interest bearing cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • Priority Amount As to any Distribution Date, the amount equal to the sum of (i) the product of (A) the Scheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage and (ii) the product of (A) the Unscheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage.

  • First Lien Last Out Loan means a loan that, prior to an event of default under the applicable Related Contract, is entitled to receive payments pari passu with other senior secured loans of the same Obligor, but following an event of default under the applicable Related Contract, such Collateral Loan becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.

  • Collateral Available Funds means with respect to any Distribution Date, the Collateral Floating Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period.

  • Priority Debt means, as of any date, the sum (without duplication) of (i) Indebtedness of the Company and its Subsidiaries secured by Liens not otherwise permitted by Sections 10.4(a) through (h), and (ii) outstanding unsecured Indebtedness of Subsidiaries not otherwise permitted by Sections 10.3(a) through (d).

  • Second Priority Collateral Documents means the Noteholder Collateral Documents and any other agreement, document or instrument pursuant to which a Lien is now or hereafter granted securing any Second Priority Claims or under which rights or remedies with respect to such Liens are at any time governed.

  • Consolidated First Lien Debt means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a first priority Lien on any asset or property of such Person or its Restricted Subsidiaries that constitutes Collateral.

  • Excess Collateral Amount means, at any time, the excess of (a) the sum of (i) the Collateral Amount, and (ii) the Principal Accumulation Account Balance, over (b) the Note Principal Balance.

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.