Qualified Debt definition

Qualified Debt means, on any date, the sum of (i) Indebtedness (including all Loans) then outstanding and permitted pursuant to Section 7.03 and (ii) Indebtedness that the Borrower would be permitted to borrow hereunder on such date pursuant to Section 7.03 and, in the case of Loans, Section 4.02(a) and (b), and which the Borrower intends to borrow within twelve months of such date. For purposes of this Agreement, the outstanding principal balance of any Loan described in clause (ii) of the preceding sentence on any date will be the amount thereof set forth in the then most recent Qualified Debt Notice received by the Administrative Agent.

Qualified Debt means Indebtedness permitted to be incurred pursuant to Sections 10.04(g) (but, in the case of such clause (g), only to the extent such Indebtedness is in excess of $25,000,000 in the aggregate), (o), (q) and (r).

Qualified Debt means a commercial loan that:

Examples of Qualified Debt in a sentence

• May consist of a combination of two or more loans, provided that each of the loans satisfies the Qualified Debt requirements.

• For projects when the amount of Qualified Debt being refinanced is more than 90 percent of the value of the Eligible Fixed Asset(s) securing the Qualified Debt, the Borrower must provide additional cash or other fixed asset collateral acceptable to SBA so as not to exceed a 90% loan to value of the Refinancing Project.

• For projects that refinance only Qualified Debt, the maximum loan to value of the Refinancing Project allowed is 90%.

• For any projects that include the financing of Eligible Business Expenses, a maximum 85% loan to value of the Refinancing Project will apply and the Eligible Business Expenses portion of the Project may not exceed 20% of the value of the Eligible Fixed Asset(s) securing the Qualified Debt.

• The CDC must obtain a copy of the transcript of account, or equivalent, for the Qualified Debt being refinanced and submit and/or retain it as required by SBA Form 1244.

More Definitions of Qualified Debt

Qualified Debt means any debt of the Partnership secured by a Facility and held by a party that is not an Affiliate of the Partnership that constitutes a nonrecourse liability of the Partnership under Code Section 752 and the regulations thereunder.

Qualified Debt means, as to the Company, as of any date of determination, without duplication, all outstanding indebtedness of the Company for borrowed money, including Indebtedness represented by the Notes, the 1994 Notes, the 1996 Notes, and this Agreement (including L/C Borrowings and Loans used to repay L/C Borrowings, but excluding L/C Obligations with respect to undrawn Letters of Credit).

Qualified Debt means the amount of cash proceeds received by Issuer or any of its Affiliates in connection with the incurrence of any indebtedness except for indebtedness under a bank line of credit (provided that with respect to indebtedness under a line of credit to finance the acquisition of a business whatever the structure, this exception shall be limited to an outstanding balance of $10,000,000 in the aggregate at any time) or indebtedness incurred to finance operating expenses, equipment and capital expenditures (but specifically excluding any capital expenditures associated with the acquisition of a business whatever the structure) incurred by Issuer or any of its Affiliates in the ordinary course of business.

Qualified Debt means the term loans advanced pursuant to, or outstanding under, the Amended Credit Agreement.

Qualified Debt means Non-Recourse Indebtedness which also constitutes “qualified nonrecourse financing” within the meaning of Section 465(b)(6) of the Code.

Qualified Debt means unsubordinated Debt of the Company or a Restricted Subsidiary other than

Qualified Debt is defined in Section 10.5.