Examples of Permitted Secured Indebtedness in a sentence
Permitted Security means: (a) Existing Security on After-Acquired Subsidiaries; or (b) any Permitted Secured Indebtedness.
Substantially simultaneously with the Second Amendment Effective Date, the Administrative Agent shall be reasonably satisfied that the Borrower shall have incurred, issued or received commitments with respect to the Initial Permitted Secured Indebtedness.
The Company shall cause the Obligations to constitute direct senior secured obligations of the Company and to be senior in right of payment and to rank senior in right of security (other than Permitted Liens) with respect to Collateral granted in the Security Documents to all other Indebtedness of the Company (other than Permitted Secured Indebtedness, with which it shall be pari passu in accordance with the terms of the Collateral Agency Agreement).
The Company further agrees to take all other actions necessary to create in favor of the Trustee named therein for the benefit of the Collateral Agent and the other Secured Parties a valid and enforceable first priority Lien (subject to Permitted Liens) on the Company’s interests in such Real Property Collateral, free and clear of all Liens except for Permitted Liens and rights of holders of Permitted Secured Indebtedness in compliance with the Collateral Agency Agreement.
In the event that the Permitted Secured Indebtedness is structured through credits, mutual, or money loans of any kind, syndicated or not, the Permitted Creditors may be represented by an Administrative Agent or Collateral Agent, which must be any of the subjects indicated in Letters a) through e).