Total First Lien Debt definition
Total First Lien Debt means Total Debt as of such date secured by a Lien on the assets of the Borrower and its Restricted Subsidiaries on a pari passu basis with the Liens securing the Credit Facilities.
Total First Lien Debt means Indebtedness of the Group on a consolidated basis of the type referred to in the definition of “Total Debt” that (a) is secured by a first-priority Lien on the Collateral and not contractually subordinated to obligations under the Notes or the Subsidiary Guarantees as of such date, (b) is or has been incurred pursuant to clauses (a), (b) or (o) of the second paragraph of Section 4.09 hereof, or (c) is or has been incurred by a Restricted Subsidiary that is not the Company or a Guarantor; provided that any Indebtedness for or in respect of any Permitted Guarantee shall not be included in the calculation of “Total First Lien Debt” hereunder to the extent such indebtedness is not due and payable.
Total First Lien Debt means, as of any date of determination, the aggregate principal amount of First Lien Indebtedness of the Issuer and the Guarantors (other than Hedging Obligations and cash management obligations to the extent permitted by this Indenture) outstanding on such date, determined on a consolidated basis.
Examples of Total First Lien Debt in a sentence
For purposes of any determination of Total Debt, Total Secured Debt or Total First Lien Debt, amounts in currencies other than Dollars shall be translated into Dollars at the currency exchange rates used in preparing the most recently delivered Section 9.1 Financials.
As of the Issue Date, the Senior Secured Net Leverage Ratio and the First Lien Net Leverage Ratio will be calculated using a Canadian Dollar equivalent for Consolidated Total Secured Debt and Consolidated Total First Lien Debt.
If the Issuer changes its functional currency to U.S. dollars, the Senior Secured Net Leverage Ratio will be calculated using a U.S. dollar equivalent for Consolidated Total Secured Debt and Consolidated Total First Lien Debt.
More Definitions of Total First Lien Debt
Total First Lien Debt means, at any time, (a) the total consolidated Indebtedness (excluding (i) Deeply Subordinated Indebtedness in an aggregate amount not to exceed $50,000,000, (ii) Indebtedness of the type described in clause (d), clause (f), clause (h), clause (i), clause (j), clause (k) and clause (l) of the definition of Indebtedness, except, (x) in the case of clause (k) and clause (l), to the extent of any unreimbursed drawings thereunder and (y) in the case of clause (f), to the extent constituting a Guarantee of Indebtedness of the type that would otherwise be included in “Total First Lien Debt” and (iii) any Indebtedness that is (A) unsecured, (B) secured solely by a lien on cash or Permitted Investments, in an amount not to exceed the principal amount of such Indebtedness plus anticipated interest and fees thereon, and any deposit accounts or securities accounts containing solely such cash or Permitted Investments or (C) secured by all or less than all of the Collateral on a basis junior to the Liens securing the Obligations (provided that, for purposes of any calculation of the Total First Lien Leverage Ratio in connection with the incurrence of Incremental Equivalent Debt pursuant to clause (ix) of the definition thereof, Total First Lien Debt shall be deemed to include any Incremental Equivalent Debt incurred pursuant to such clause (ix) of the definition of Incremental Equivalent Debt (and any Permitted Refinancing in respect of such Incremental Equivalent Debt)) of the Administrative Borrower and the Restricted Subsidiaries; and minus (b) Unrestricted Cash.
Total First Lien Debt means, as of any date of determination, Total Debt as of such date that is secured by a first-priority lien on Collateral, including, without limitation, all Obligations and the Senior Secured Notes.
Total First Lien Debt means, as of any date of determination, the aggregate principal amount of (i) First Lien Indebtedness of the Issuer and the Restricted Subsidiaries, (ii) secured Purchase Money Obligations of the Issuer and the Restricted Subsidiaries and (iii) Indebtedness for borrowed money (which, for the avoidance of doubt, does not include Purchase Money Indebtedness, and any related Liens thereto) or Indebtedness evidenced by bank notes, debentures or similar instruments or drawn letters of credit secured by assets of the Issuer or the Restricted Subsidiaries that are either (x) not Collateral or (y) secured by Collateral on a pari passu basis with the Note Obligations, in each case, outstanding on such date of determination, determined on a consolidated basis.
Total First Lien Debt means Financial Indebtedness of the Group on a consolidated basis of the type referred to in the definition of Total Debt that (a) is secured by a first-priority Lien on the Collateral and not contractually subordinated to obligations under the Notes or the Note Guarantees as of such date or (b) is or has been incurred by a Restricted Subsidiary that is not the Company or a Guarantor; provided that any indebtedness for or in respect of any Permitted Guarantee shall not be included in the calculation of “Total First Lien Debt” hereunder to the extent such indebtedness is not due and payable.
Total First Lien Debt means, at any time, the aggregate amount of Indebtedness of the Borrower and the Restricted Subsidiaries outstanding at such time that is subject to a first priority Lien (subject to Permitted Liens), in the amount that would be reflected on a balance sheet prepared at such time on a consolidated basis in accordance with GAAP; provided, however, that (a) Total First Lien Debt will exclude all Indebtedness of Excluded Subsidiaries (but, for the avoidance of doubt, not Guarantees of such Indebtedness by the Loan Parties), (b) with respect to Hedging Obligations of the Borrower or any Restricted Subsidiary, Total First Lien Debt will include only the amount of payments that any such Person is required to make, on the date Total First Lien Debt is being determined, as a result of an early termination or similar event in respect of outstanding Hedging Obligations of such Person, (c) for the avoidance of doubt, the undrawn amount of all outstanding letters of credit (including Letters of Credit) shall not be included in Total First Lien Debt and (d) Total First Lien Debt shall not include the amount of funds on deposit in the Funded L/C Collateral Accounts at such time.
Total First Lien Debt means, as of any date of determination, the sum of (i) the excess of Total Secured Debt outstanding on such date minus, to the extent included therein, the principal amount of Notes and Pari Passu Lien Obligations outstanding on such date and (ii) without duplication, the principal amount of Indebtedness secured by Liens pursuant to clause (b)(y) of the definition of “Permitted Liens” (or clause (bb) of the definition of “Permitted Liens” to the extent incurred in respect of Liens originally incurred pursuant to such clause (b)(y)) outstanding on such date.
Total First Lien Debt means, as of any date of determination, the aggregate principal amount of (i) First Lien Indebtedness of the Issuer and the Restricted Subsidiaries, (ii) secured Purchase Money Obligations of the Issuer and the Restricted Subsidiaries and (iii) Indebtedness for borrowed money or Indebtedness evidenced by bank notes, debentures or similar instruments or drawn letters of credit secured by assets of the Issuer or the Restricted Subsidiaries that are either (x) not Collateral or (y) secured by Collateral on a pari passu basis with the Note Obligations, in each case, outstanding on such date of determination, determined on a consolidated basis.