Second Lien Interest Payment Conditions definition

Second Lien Interest Payment Conditions means (i) no First Lien Event of Default has occurred and is continuing or would be caused as a result of making any such Second Lien Interest Payment, (ii) calculated on a pro forma basis after giving effect to any such payment as a Debt Payment (as defined in the First Lien Loan Agreement), the Grantors shall have a Fixed Charge Coverage Ratio (as defined in the First Lien Loan Agreement) of at least 1.10 to 1.00 for the twelve (12) month period most recently ended, and (iii) after giving effect to any such payment, Grantors shall have (x) Liquidity (as defined in the First Lien Loan Agreement) of not less than $20,000,000 as of the date of such payment and (y) average Liquidity of not less than $20,000,000 for the 10 consecutive calendar day period prior to delivery of the compliance certificate in accordance with clause (1) of this definition, and the 10 consecutive calendar day period prior to making such payment; in each case with respect to clauses (i)-(iii) above, (1) as evidenced by a compliance certificate (in substantially the form attached as Exhibit A hereto), delivered to both the First Lien Agent and the Second Lien Agent three Business Days prior to the making of any such payment, and including detailed calculations with respect to the conditions set forth in clauses (ii) and (iii) above, and (2) as further evidenced by a compliance certificate (in substantially the form attached as Exhibit A hereto), delivered to First Lien Agent on the date such payment is made, and including detailed calculations with respect to the conditions set forth in clauses (ii) and (iii) above.
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Related to Second Lien Interest Payment Conditions

  • Extended Interest Payment Period shall have the meaning set forth in Section 4.1.

  • Scheduled Interest Payment means the scheduled payment of interest due on the Mortgage Loan on a Monthly Payment Date.

  • Scheduled Interest Payment Date means (a) as to any Eurodollar Loan or Eurodollar Holder Advance, the last day of the Interest Period applicable to such Eurodollar Loan or Eurodollar Holder Advance (or respecting any Eurodollar Loan or Eurodollar Holder Advance having an Interest Period of six (6) months, the three (3) month anniversary of such Interest Period), (b) as to any ABR Loan or any ABR Holder Advance, the fifteenth day of each month, unless such day is not a Business Day and in such case on the next occurring Business Day and (c) as to all Loans and Holder Advances, the date of any voluntary or involuntary payment, prepayment, return or redemption, and the Maturity Date or the Expiration Date, as the case may be.

  • Fixed Interest Payment Date means such Business Day, on which the fixed interest is in fact due and payable. This may fall on a Fixed Coupon Date or may shift to the appropriated Business Day – if the Fixed Coupon Date falls on a day which is not a Business Day – based on the application of the adjustment provision as set out in § 5[(4)][(5)][(6)] (Business Day Convention).

  • Interest Payment Amount With respect to each outstanding Class of Notes and any Payment Date, the Interest Accrual Amount for such Class of Notes, less any Modification Loss Amount for such Payment Date allocated to reduce the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(f) hereof, or plus any Modification Gain Amount for such Payment Date allocated to increase the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(g) hereof.

  • Interest Payment Period means the period from and including an Interest Payment Date, or in the case of the first Interest Payment Period, the original date of issuance of the Debt Securities, to, but excluding, the next succeeding Interest Payment Date or, in the case of the last Interest Payment Period, the Redemption Date, Special Redemption Date or Maturity Date, as the case may be.

  • Interest Payment Dates July 1, October 1, January 1 and April 1. Record Dates: June 15, September 15, December 15 and March 15. Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

  • First Interest Payment Date means the date specified in the relevant Final Terms; "Fixed Coupon Amount" has the meaning given in the relevant Final Terms;

  • LIBOR Interest Payment Date means, with respect to a LIBOR Rate Loan, the Termination Date and the last day of each Interest Period applicable to such Loan or, with respect to each Interest Period of greater than three months in duration, the last day of the third month of such Interest Period and the last day of such Interest Period.

  • Fixed Rate Interest Payment Date has the meaning set forth in clause (d) of Section 2.01 of this Supplemental Indenture.

  • Interest Payment means, in respect of an interest payment on an Interest Payment Date, the amount of interest payable on the presentation and surrender of the relevant Coupon for the relevant Interest Period in accordance with Condition 4 (Interest Payments);

  • Additional Interest Payment Date With respect to the Initial Securities, each Interest Payment Date.

  • Interest Payments With respect to any Purchased Asset, all payments of interest, income, receipts, dividends, and any other collections and distributions received from time to time in connection with any such Purchased Asset.

  • Special Interest Payment Date has the meaning ascribed to it in Section 2.11 hereof.

  • Optional Interest Payment Date means any Interest Payment Date other than a Compulsory Interest Payment Date.

  • Floating Rate Interest Payment Date has the meaning provided in Section 2.7(b).

  • Interest Payment Date when used with respect to any Security, means the Stated Maturity of an installment of interest on such Security.

  • Interest Payment Determination Date means the date two U.S. Government Securities Business Days before each Floating Rate Interest Payment Date.

  • Compensating Interest Payment As defined in Section 6.06.

  • Compensating Interest Payments Any payment required to be made by the Master Servicer pursuant to Section 3.13 of this Agreement to cover Prepayment Interest Shortfalls.

  • REMIC Certificate Maturity Date The "latest possible maturity date" of the Regular Certificates as that term is defined in Section 2.07.

  • Lender-Provided Interest Rate Hedge means an Interest Rate Hedge which is provided by PNC or any Affiliate of PNC that: (a) is documented in a standard International Swap Dealers Association, Inc. Master Agreement or another reasonable and customary manner; (b) provides for the method of calculating the reimbursable amount of the provider’s credit exposure in a reasonable and customary manner; and (c) is entered into for hedging (rather than speculative) purposes. The liabilities owing to the provider of any Lender-Provided Interest Rate Hedge (the “Interest Rate Hedge Liabilities”) by any Borrower, Guarantor, or any of their respective Subsidiaries that is party to such Lender-Provided Interest Rate Hedge shall, for purposes of this Agreement and all Other Documents be “Obligations” of such Person and of each other Borrower and Guarantor, be guaranteed obligations under any Guaranty and secured obligations under any Guarantor Security Agreement, as applicable, and otherwise treated as Obligations for purposes of the Other Documents, except to the extent constituting Excluded Hedge Liabilities of such Person. The Liens securing the Hedge Liabilities shall be pari passu with the Liens securing all other Obligations under this Agreement and the Other Documents, subject to the express provisions of Section 11.5 hereof.

  • Senior Secured Notes Documents means the Senior Secured Notes Indenture and the other transaction documents referred to therein (including the related guarantee, the notes and the notes purchase agreement).

  • Existing Senior Secured Notes means the Borrower’s $800,000,000 8.500% Senior Secured Notes due 2019, issued pursuant to the Existing Senior Secured Notes Indenture.

  • Senior Secured Notes means the $1,875 million aggregate principal amount of 7.375% Senior Secured Notes due 2023 of the Borrower including, as the same may be amended, supplemented, waived or otherwise modified from time to time, including any senior secured exchange notes issued in lieu thereof.

  • Additional Senior Debt Documents means, with respect to any series, issue or class of Additional Senior Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Senior Collateral Documents.