Intercompany Subordinated Debt definition

Intercompany Subordinated Debt is defined in the second recital.

Intercompany Subordinated Debt means unsecured Debt of the Borrower to Parent in respect of the loan made by Parent to the Borrower pursuant to the Intercompany Subordinated Loan Agreement.

Intercompany Subordinated Debt means, with respect to each Company, all indebtedness, liabilities, and other obligations of each Obligor owing to such Company, whether now existing or hereafter arising, and whether due or to become due, absolute or contingent, liquidated or unliquidated, determined or undetermined, including all fees and all other amounts payable by any Obligor to such Company under or in connection with any documents or instruments related thereto.

Examples of Intercompany Subordinated Debt in a sentence

• Each Borrower, each other Loan Party Obligor, and Parent acknowledges that Agent is entering into this Agreement and extending credit and making the Loans in reliance upon the Intercompany Subordinated Debt Subordination Agreement, the Alimco Subordinated Debt Subordination Agreement and this Section 7.23.

• No portion of the Intercompany Subordinated Debt is, or at any time shall be, (i) secured by any assets of any of the Loan Parties, Parent, or any other Person or any equity issued by any of the Loan Parties, Parent, or any other Person or (ii) Guaranteed by any Person.

• All Obligations constitute senior Indebtedness entitled to the benefits of the subordination provisions contained in the Intercompany Subordinated Debt Documents and the Alimco Subordinated Debt Documents.

• The provisions of the Intercompany Subordinated Debt Subordination Agreement are enforceable against each holder of the Intercompany Subordinated Debt.

• Borrower Representative has furnished Agent a true, correct and complete copy of each of the Intercompany Subordinated Debt Documents and the Alimco Subordinated Debt Documents.

More Definitions of Intercompany Subordinated Debt

Intercompany Subordinated Debt means that certain Indebtedness evidenced by the Intercompany Subordinated Note and the other Intercompany Subordinated Debt Documents, which Indebtedness has an outstanding principal balance of $10,356,140.65 as of the Amendment No. 1 Effective Date, after giving effect to the transactions to occur on or about the Amendment No. 1 Effective Date.

Intercompany Subordinated Debt as defined in Section 8.1(vi).

Intercompany Subordinated Debt as defined in the second recital hereof.

Intercompany Subordinated Debt means all Indebtedness which, in accordance with GAAP, on a consolidated basis, would be recorded in the Borrower’s consolidated financial statements (including the notes thereto) and which is owing to a Related Party, which Indebtedness has all of the following characteristics:

Intercompany Subordinated Debt means any Debt between Obligors.

Intercompany Subordinated Debt shall have the meaning set forth in Section 8.18.

Intercompany Subordinated Debt is defined in the recitals hereof.