Tier 4 Debt definition
Tier 4 Debt means (a) all principal amounts owed under the Existing Term Loans (including, for the advance of doubt, any Principal Increases), (b) an amount not to exceed $7,500,000 due under the Amended Series A Benchmark Notes, and (c) an amount not to exceed $7,500,000 due under the Amended Series B Benchmark Notes.
Examples of Tier 4 Debt in a sentence
In the event the Administrative Agent delivers to the Borrower a notice stating an Event of Default exists, then for so long as such Event of Default is continuing and existing (i) no payments under this Section 1.8(d) shall be made to the holders of Tier 1 Debt, Tier 2 Debt, Tier 3 Debt, Tier 4 Debt, Tier 5 Debt, and Tier 6 Debt and (ii) any payments that would otherwise be made pursuant to this Section 1.8(d) shall be paid to the Administrative Agent to be distributed in accordance with Section 1.8(c).