Unsecured Liabilities definition
Unsecured Liabilities means, as to any Person as of a given date, the following (without duplication): (a) all liabilities which would, in conformity with GAAP, be properly classified as a liability on the balance sheet of such Person as of such date, plus (b) all Indebtedness of such Person (to the extent not included in the preceding clause (a)), minus (c) all liabilities included in the preceding clauses (a) and (b) that are secured by a Lien.
Unsecured Liabilities means the Unsecured Notes Liabilities and the Unsecured Loan Liabilities.
Unsecured Liabilities means, as to any Person as of a given date, the sum of the following (without duplication): (a) all liabilities which would, in conformity with GAAP, be properly classified as a liability on a balance sheet of such Person as at such date; plus (b) all Indebtedness of such Person; minus (c) all Secured Indebtedness of such Person.
Examples of Unsecured Liabilities in a sentence
Subject to Clause 10.3 (Restriction on Payment and dealings during Unsecured Standstill Period: Unsecured Liabilities) below, the Debtors may make Payments to the Unsecured Creditors in respect of the Unsecured Liabilities in accordance with the Unsecured Finance Documents.
Borrower shall not permit the ratio of (i) the Unencumbered Pool Value to (ii) the Unsecured Liabilities of Borrower and its Consolidated Subsidiaries, to be less than 2.00 to 1.00 at any time.
The Security Agent may refrain from enforcing the Senior Unsecured Only Security or taking any other Enforcement Action in respect of the Senior Unsecured Liabilities unless instructed otherwise by the Majority Senior Unsecured Creditors.
Borrower shall not permit the ratio of (i) the Unencumbered Pool Value to (ii) the Unsecured Liabilities of Borrower and its Subsidiaries determined on a consolidated basis, to be less than 1.75 to 1.00 at any time.
Unsecured Payment Stop Notice), the Debtors may, at any time prior to the Final Discharge Date, make Payments to the Unsecured Creditors in respect of the Unsecured Liabilities in accordance with the Unsecured Creditor Documents (as amended in accordance with the terms of this Agreement and the relevant Unsecured Creditor Documents) provided the Payment is not otherwise prohibited by the Primary Creditor Documents.
More Definitions of Unsecured Liabilities
Unsecured Liabilities means those Total Liabilities which are not secured by a Lien.
Unsecured Liabilities means, as to any Person as of a given date, (a) all liabilities which would, in conformity with GAAP (except for intangible liabilities as listed on such Person’s consolidated balance sheet in accordance with Statements of Financial Accounting Standards No. 141), be properly classified as a liability on the consolidated balance sheet of such Person as at such date plus (b) all Indebtedness of such Person (to the extent not included in the preceding clause (a)) minus (c) all Secured Indebtedness of such Person. When determining the Unsecured Liabilities of the Parent and its Subsidiaries: (i) the following (to the extent not in excess of $10,000,000 in the aggregate) shall be excluded: (A) any amounts related to contributions by the Borrower paid in the Borrower’s capital stock to the 401(k) plan maintained by the Borrower and (B) contributions paid by the Borrower to the Borrower’s Long-term Omnibus Plan; (ii) accounts payable and accrued dividends payable shall be included only to the extent the aggregate amount thereof exceeds the aggregate amount of unrestricted cash then reportable on a consolidated balance sheet of the Borrower; and (iii) accrued property taxes in respect of real property shall be included only to the extent the aggregate amount thereof exceeds the aggregate amount of cash held by the Borrower and its Subsidiaries in escrow for the payment of such taxes at such time.
Unsecured Liabilities means the Liabilities owed by any Unsecured Guarantor to the Unsecured Creditors or any Unsecured Notes Trustee under or in connection with the Unsecured Finance Documents, including, for the avoidance of doubt, any such Liabilities incurred under a Permitted Unsecured Finance Document and any Agent Liabilities.
Unsecured Liabilities means, as to any Person as of a given date, (a) all liabilities which would, in conformity with GAAP, be properly classified as a liability on the consolidated balance sheet of such Person as at such date plus (b) all Indebtedness of such Person (to the extent not included in the preceding clause (a)) minus (c) all Secured Indebtedness of such Person. When determining the Unsecured Liabilities of the Parent and its Subsidiaries: (i) the following shall be excluded: (A) any amounts related to contributions by the Borrower paid in the Borrower's capital stock to the 401(k) plan maintained by the Borrower and (B) contributions paid by the Borrower to the Borrower's Long-term Omnibus Plan; (ii) accounts payable and accrued dividends payable shall be included only to the extent the aggregate amount thereof exceeds the aggregate amount of unrestricted cash then reportable on a consolidated balance sheet of the Borrower and (iii) accrued property taxes in respect of real property shall be included only to the extent the aggregate amount thereof exceeds the aggregate amount of cash held by the Borrower and its Subsidiaries in escrow for the payment of such taxes at such time.
Unsecured Liabilities means, as to any Person as of a given date, all liabilities which would, in conformity with generally accepted accounting principles, be properly classified as a liability on the consolidated balance sheet of such Person that are not secured in any manner by a Lien in any property, and shall in any event include (without duplication) the following: (a) all unsecured Indebtedness of such Person; (b) all purchase obligations, repurchase obligations, forward commitments and unfunded obligations; (c) all accounts payable of such Person; (d) all Guarantees by such Person of Unsecured Liabilities of other Persons and (e) unsecured subordinated debt.
Unsecured Liabilities means, at any time, (i) Total Liabilities of Borrower and its Subsidiaries, less (ii) Secured Borrower Debt.
Unsecured Liabilities means, as to the Borrower as of a given date, all liabilities of the Borrower and its Consolidated Subsidiaries which would, in conformity with GAAP, be properly classified as a liability on the Consolidated balance sheet of the Borrower that are not secured in any manner by a Lien on any property of the Borrower or its Consolidated Subsidiaries, and shall in any event include (without duplication) the following as each relates to the Borrower and its Consolidated Subsidiaries: