Additional Senior Debt Clause Samples
Additional Senior Debt. To the extent, but only to the extent permitted by the provisions of the then extant Secured Credit Documents, the Borrower may incur additional indebtedness after the date hereof that is secured on an equal and ratable basis by the Liens securing the First-Lien Obligations (such indebtedness referred to as “Additional Senior Class Debt”). Any such Additional Senior Class Debt may be secured by a Lien and may be Guaranteed by the Grantors on a senior basis, in each case under and pursuant to the Additional First-Lien Documents, if and subject to the condition that the Authorized Representative of any such Additional Senior Class Debt (each, an “Additional Senior Class Debt Representative”), acting on behalf of the holders of such Additional Senior Class Debt (such Authorized Representative and holders in respect of any Additional Senior Class Debt being referred to as the “Additional Senior Class Debt Parties”), becomes a party to this Agreement as an Authorized Representative by satisfying the conditions set forth in clauses (i) through (iv) of the immediately succeeding paragraph. In order for an Additional Senior Class Debt Representative to become a party to this Agreement as an Authorized Representative, (i) such Additional Senior Class Debt Representative, each Collateral Agent, each Authorized Representative and each Grantor shall have executed and delivered a Joinder Agreement (with such changes as may be reasonably approved by the Collateral Agents and Additional Senior Class Debt Representative) pursuant to which such Additional Senior Class Debt Representative becomes an Authorized Representative hereunder, and the Additional Senior Class Debt in respect of which such Additional Senior Class Debt Representative is the Authorized Representative constitutes Additional First-Lien Obligations and the related Additional Senior Class Debt Parties become subject hereto and bound hereby as Additional First-Lien Secured Parties;
Additional Senior Debt. To the extent, but only to the extent permitted by the provisions of the Credit Agreement and the Additional First Lien Documents, the Borrower and/or the Co-Issuer may incur Additional First Lien Obligations. Any such additional class or series of Additional First Lien Obligations (the “Senior Class Debt”) may be secured by a Lien and may be Guaranteed by the Grantors on a senior basis, in each case under and pursuant to the Additional First Lien Documents, if and subject to the condition that the Authorized Representative of any such Senior Class Debt (each, a “Senior Class Debt Representative”) acting on behalf of the holders of such Senior Class Debt and the Additional First Lien Collateral Agent of any such Senior Class Debt acting on behalf of the holders of such Senior Class Debt (such Additional First Lien Collateral Agent together with the Senior Class Debt Representative and the holders in respect of any such Senior Class Debt being referred to as the “Senior Class Debt Parties”), become parties to this Agreement by satisfying the conditions set forth in clauses (i) through (iv) of the immediately succeeding paragraph. In order for a Senior Class Debt Representative and Additional First Lien Collateral Agent to become a party to this Agreement,
Additional Senior Debt. To the extent, but only to the extent permitted by the provisions of the Credit Agreement and the Additional First Lien Documents, the Parent Borrower may incur Additional First Lien Obligations. Any such additional class or series of Additional First Lien Obligations (the “Senior Class Debt”) may be secured by a Lien and may be Guaranteed by the Grantors on a senior basis, in each case under and pursuant to the First Lien Documents, if and subject to the condition that the Authorized Representative of any such Senior Class Debt (each, a “Senior Class Debt Representative”), acting on behalf of the holders of such Senior Class Debt (such Authorized Representative and holders in respect of any Senior Class Debt being referred to as the “Senior Class Debt Parties”), becomes a party to this Agreement by satisfying the conditions set forth in clauses (i) through (v) of the immediately succeeding paragraph. In order for a Senior Class Debt Representative to become a party to this Agreement,
Additional Senior Debt. To the extent, but only to the extent permitted by the provisions of the Credit Agreement and the Additional Second Lien Documents, Holdings, the Borrower and the other Grantors may incur Additional Second Lien Obligations. Any such additional class or series of Additional Second Lien Obligations (the “Senior Class Debt”) may be secured by a Lien by the Grantors on the Collateral and may be Guaranteed by the Grantors on a senior basis, in each case under and pursuant to the Second Lien Documents, if and subject to the condition that the Authorized Representative of any such Senior Class Debt (each, a “Senior Class Debt Representative”), acting on behalf of the holders of such Senior Class Debt (such Authorized Representative and holders in respect of any Senior Class Debt being referred to as the “Senior Class Debt Parties”), becomes a party to this Agreement by satisfying the conditions set forth in clauses (i) through (iv) of the immediately succeeding paragraph. In order for a Senior Class Debt Representative to become a party to this Agreement,
Additional Senior Debt. (a) Amend Paragraph 13 of Schedule 6 (Additional Amendments, Waivers, Consents and Other Modifications) to include an additional requirement that Net Total Debt to Annualised EBITDA is equal to or less than 5.50:1.
(b) Amend the definition of “Senior Secured Notes” referred to in Paragraph 16 of Schedule 5 (Further Amendments, Waivers, Consents and Other Modifications) and Paragraph 13 of Schedule 6 (Additional Amendments, Waivers, Consents and Other Modifications) so that the incurrence of Senior Secured Notes is subject to an additional requirement that Net Total Debt to Annualised EBITDA is equal to or less than 5.50:1.
Additional Senior Debt. (a) At any time, and from time to time the Partnership, or the Borrower at the direction of the Partnership, may enter into agreements providing for commitments to lend, and may incur, in addition to the Initial Senior Debt, the Oil Payment Reimbursement Obligations and any Replacement Senior Debt, without the prior consent of Senior Lenders or Oil Payment Insurers, Indebtedness secured by the Collateral and entitled to the benefits of this Agreement and the Security Documents ("Additional Senior Debt"), provided that in each case such Additional Senior Debt shall be incurred subject to the following conditions:
(i) if the proceeds of such Additional Senior Debt incurred or committed will be used solely to finance or refinance Mandatory Capital Expenditures permitted to be made by the Partnership under the Financing Documents, a Responsible Officer certifies to the Collateral Trustee and the Independent Engineer confirms that (A) no Event of Default or Potential Default has occurred and is continuing, (B) the amount and scope of such Mandatory Capital Expenditures are (1) necessary to comply with a change in applicable environmental, health, safety or other laws or regulations binding on the Partnership or (2) otherwise necessary to operate the Heavy Oil Processing Facility in accordance with the Base Case Model and (C) after giving effect to the incurrence of all Additional Senior Debt, and based on reasonable assumptions verified by the Independent Engineer, (1) the minimum Debt Service Coverage Ratio for each remaining calendar year through final maturity of the Senior Debt (as such final maturity is set forth in the Base Case Model) shall be not less than 1.5:1.0 and (2) the average annual Debt Service Coverage Ratio from the date of incurrence of such Additional Senior Debt through final maturity of the Senior Debt (as such final maturity is set forth in the Base Case Model) shall be not less than 2.0:1.0;
(ii) at any time after Substantial Reliability, if the proceeds of such Additional Senior Debt incurred or committed will be used solely to finance or refinance Discretionary Capital Expenditures permitted to be made by the Partnership under the Financing Documents, a Responsible Officer certifies to the Collateral Trustee and the Independent Engineer confirms that (A) no Event of Default or Potential Default has occurred and is continuing, (B) Substantial Reliability has occurred, (C) after giving effect to the incurrence of all Additional Senior D...
Additional Senior Debt. The City shall not issue any obligations after the Closing Date which are secured by a lien on Net Revenues that is senior to that securing the Bonds, the Bank Bonds and the other Reimbursement Obligations.
Additional Senior Debt. Designate any Indebtedness (other than the Obligations and the Senior Bridge Loans) as "Designated Senior Debt" (or any other comparable terms) under any of the Senior Subordinated Notes Documents.
Additional Senior Debt. To the extent, but only to the extent permitted by the provisions of the Credit Agreement and the Additional First Lien Agreements, Holdings or any Borrower or other Subsidiary may incur Additional First Lien Obligations. Any such Additional First Lien Obligations (the “Senior Class Debt”) may be secured by a Lien on a senior basis pursuant to the First Lien Documents, if and subject to the condition that the Authorized Representative of any such Senior Class Debt (each, a “Senior Class Debt Representative”), acting on behalf of the holders of such Senior Class Debt (such Authorized Representative and holders in respect of any Senior
Additional Senior Debt. 26 Section 7.2 Restrictions on Equity Interests.......................................................... 26 Section 7.3