Unrestricted Subsidiary Indebtedness definition
Unrestricted Subsidiary Indebtedness of any Unrestricted Subsidiary means Indebtedness of such Unrestricted Subsidiary
Unrestricted Subsidiary Indebtedness of any Unrestricted Subsidiary means Indebtedness of such Unrestricted Subsidiary (i) as to which neither the Company nor any Restricted Subsidiary is directly or indirectly liable (by virtue of the Company or any such Restricted Subsidiary being the primary obligor on, guarantor of, or otherwise liable in any respect to, such Indebtedness), except Guaranteed Debt of the Company or any Restricted Subsidiary to any Affiliate, in which case (unless the incurrence of such Guaranteed Debt resulted in a Restricted Payment at the time of incurrence) the Company shall be deemed to have made a Restricted Payment equal to the principal amount of any such Indebtedness to the extent guaranteed at the time such Affiliate is designated an Unrestricted Subsidiary and (ii) which, upon the occurrence of a default with respect thereto, does not result in, or permit any holder of any Indebtedness of the Company or any Restricted Subsidiary to declare, a default on such Indebtedness of the Company or any Restricted Subsidiary or cause the payment thereof to be accelerated or payable prior to its Stated Maturity.
Unrestricted Subsidiary Indebtedness of any Unrestricted Subsidiary means Indebtedness of such Unrestricted Subsidiary (a) as to which neither the Company nor any Subsidiary is directly or indirectly liable (by virtue of the Company or any such Subsidiary being the primary obligor on, guarantor of, or otherwise liable in any respect to, such Indebtedness), and (b) which, upon the occurrence of a default with respect thereto, does not result in, or permit any holder of any Indebtedness of the Company or any Subsidiary to declare, a default on such Indebtedness of the Company or any Subsidiary or cause the payment thereof to be accelerated or payable prior to its Stated Maturity.
Examples of Unrestricted Subsidiary Indebtedness in a sentence
Anything contained in this SECTION 7.1 to the contrary notwithstanding, in no event shall Borrower or any of the Restricted Subsidiaries co-make, endorse, guaranty, or otherwise become liable or have any recourse with respect to any Indebtedness or other liabilities (including Permitted Unrestricted Subsidiary Indebtedness) of any of the Unrestricted Subsidiaries.
The Borrower will not permit the Unrestricted Subsidiary Indebtedness Interest Coverage Ratio as of the last day of any fiscal quarter to be less than 1.50 to 1.00.
The Borrower will not permit the Unrestricted Subsidiary Indebtedness Coverage Ratio as of the last day of any Fiscal Quarter to be less than 1.50 to 1.00.
Any Unrestricted Subsidiary Indebtedness of an Unrestricted Subsidiary designated as such pursuant to this Section 7A.2 shall be excluded from the calculation of the aggregate Unrestricted Subsidiary Indebtedness permitted pursuant to Section 7A.1.
Anything contained in this Section 7.1 to the contrary notwithstanding, in no event shall Mountasia or any of the Restricted Subsidiaries co-make, endorse, guaranty, or otherwise become liable or have any recourse with respect to any Indebtedness or other liabilities (including Permitted Unrestricted Subsidiary Indebtedness) of any of the Unrestricted Subsidiaries.
More Definitions of Unrestricted Subsidiary Indebtedness
Unrestricted Subsidiary Indebtedness of any Person means Indebtedness of such Person (a) as to which neither the Company nor any Restricted Subsidiary is directly or indirectly liable (by virtue of the Company's or such Restricted Subsidiary's being the primary obligor, or guarantor of, or otherwise liable in any respect on, such Indebtedness), (b) which, with respect to Indebtedness incurred after the Issue Date by the Company or any Restricted Subsidiary, upon the occurrence of a default with respect thereto, does not result in, or permit any holder of any Indebtedness of the Company or any Restricted Subsidiary to declare a default on such Indebtedness of the Company or any Restricted Subsidiary and (c) which is not secured by any assets of the Company or of any Restricted Subsidiary.
Unrestricted Subsidiary Indebtedness means Indebtedness of any Unrestricted Subsidiary (i) as to which neither the Company nor any Restricted Subsidiary is directly or indirectly liable (by virtue of the Company or any such Restricted Subsidiary being the primary obligor on, guarantor of, or otherwise liable in any respect to, such Indebtedness) and (ii) which, upon the occurrence of a default with respect thereto, does not result in, or permit any holder of any Indebtedness of the Company or any Restricted Subsidiary to declare, a default on such Indebtedness of the Company or any Restricted Subsidiary or cause the payment thereof to be accelerated or payable prior to its Stated Maturity.
Unrestricted Subsidiary Indebtedness of any Person means Debt of such Person (a) as to which neither the Parent nor any Restricted Subsidiary is directly or indirectly liable (by virtue of the Parent's or such Restricted Subsidiary's being the primary obligor, or guarantor of, or otherwise contractually liable in any respect on, such Debt), (b) which, upon the occurrence of a default with respect thereto, does not result in, or permit any holder of any Debt of the Parent or any Restricted Subsidiary to declare, a default on such Debt of the Parent or any Restricted Subsidiary and (c) which is not secured by any assets of the Parent or of any Restricted Subsidiary.
Unrestricted Subsidiary Indebtedness of any Person means Indebtedness of such Person (a) as to which neither the Company nor any Restricted Subsidiary is directly or indirectly liable (by virtue of the Company’s or such Restricted Subsidiary’s being the primary obligor, or guarantor of, or otherwise liable in any respect on, such Indebtedness and (b) which is not secured by any assets of the Company or of any Restricted Subsidiary.
Unrestricted Subsidiary Indebtedness means, as to any Unrestricted Subsidiary of any Person, Indebtedness of such Unrestricted Subsidiary (i) as to which neither such Person nor any Subsidiary of such Person (a) is directly or indirectly liable (by virtue of such Person or any such Subsidiary being the primary obligor on, guarantor of, general partner of, or otherwise liable in any respect to, such Indebtedness), or (b) constitutes a lender, (ii) no default with respect to which would permit any holder of any Indebtedness of such Person or any Subsidiary of such Person to declare a default on such Indebtedness of such Person or any Subsidiary of such Person or cause the payment thereof to be accelerated or payable prior to its stated maturity, and (iii) as to which the lenders have been notified in writing that they will not have any recourse to the stock or assets of such Person or any of its Subsidiaries.
Unrestricted Subsidiary Indebtedness of any Person means Debt of such Person (a) as to which neither a Borrower nor any Restricted Subsidiary is directly or indirectly liable (by virtue of such Borrower’s or such Restricted Subsidiary’s being the primary obligor, or guarantor of, or otherwise contractually liable in any respect on, such Debt), (b) which, upon the occurrence of a default with respect thereto, does not result in, or permit any holder of any Debt of any Borrower or any Restricted Subsidiary to declare, a default on such Debt of the Borrower or any Restricted Subsidiary and (c) which is not secured by any assets of any Borrower or any Restricted Subsidiary.
Unrestricted Subsidiary Indebtedness of any Unrestricted Subsidiary means Indebtedness of such Unrestricted Subsidiary (a) as to which neither the Company nor any Subsidiary is directly or indirectly liable (by virtue of the Company or any such Subsidiary being the primary obligor on, guarantor of, or otherwise liable in any respect to, such Indebtedness), except to the extent the Company or any Subsidiary is permitted to incur, create or assume any guarantee of Indebtedness of any Affiliate pursuant to the provisions under Section 4.07 of this Indenture, in which case the Company shall be deemed to have made a Restricted Payment equal to the principal amount of any such Indebtedness to the extent guaranteed and (b) which, upon the occurrence of a default with respect thereto, does not result in, or permit any holder of any Indebtedness of the Company or any Subsidiary to declare, a default on such Indebtedness of the Company or any Subsidiary or cause the payment thereof to be accelerated or payable prior to its Stated Maturity.