Additional Subordinated Indebtedness. There shall occur an "Event of Default" (or any comparable term) under, and as defined in, the documentation governing any Additional Subordinated Indebtedness, (ii) any of the Obligations for any reason shall cease to be "Designated Senior Indebtedness" (or any comparable term) under, and as defined in, the documentation governing any Additional Subordinated Indebtedness, (iii) any Indebtedness other than the Obligations shall constitute "Designated Senior Indebtedness" (or any comparable term) under, and as defined in, the documentation governing any Additional Subordinated Indebtedness or (iv) the subordination provisions of the documentation governing the Additional Subordinated Indebtedness shall, in whole or in part, terminate, cease to be effective or cease to be legally valid, binding and enforceable against any holder of any Additional Subordinated Indebtedness during such time as any Additional Subordinated Indebtedness is outstanding.
Additional Subordinated Indebtedness. There shall occur an “Event of Default” (or any comparable term, which, for the avoidance of doubt, will allow for the passage of any applicable grace or cure period) under, and as defined in, the documentation evidencing the Additional Subordinated Indebtedness.
Additional Subordinated Indebtedness. Agent and Lenders acknowledge that, prior to the Closing Date, Borrower has informed Agent and Lenders that after the Closing Date, Borrower intends to request that Agent and Lenders consent to the issuance by Borrower of additional Subordinated Indebtedness in the aggregate principal amount of $10,000,000. Each Loan Party agrees that the acknowledgment of the receipt of such notice from Borrower by Agent and Lenders does not constitute the consent of or the granting of permission by Agent or any Lender to such additional Subordinated Indebtedness nor does it obligate Agent or any Lender to consent to or permit such additional Subordinated Indebtedness. (THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK) Witness the due execution hereof by the respective duly authorized officers of the undersigned as of the date first written above. CENTRAL PRODUCTS ACQUISITION CORP. By: /s/ Xxx X. Xxxxxxx, III ----------------------------------------- Xxx X. Xxxxxxx, III, President SPINNAKER INDUSTRIES, INC. By: /s/ Xxx X. Xxxxxxx, III ----------------------------------------- Xxx X. Xxxxxxx, III, President Term Loan A Commitment: XXXXXX FINANCIAL, INC., $20,000,000 as Agent and as a Lender
Additional Subordinated Indebtedness. Unsecured Subordinated Indebtedness (in addition to the Indebtedness under the Current Indentures) on terms and conditions not materially more restrictive than under the Current Indentures or otherwise acceptable to the Administrative Agent and provided Borrower delivers to the Administrative Agent a certificate signed by a Financial Officer that (i) in the indenture or other document pursuant to which the additional Subordinated Indebtedness is issued, all Indebtedness under and in compliance with the terms of this Agreement is denominated and defined as “Senior Debt” and “Designated Senior Debt” as in the Current Indentures (or terms similar thereto and approved by the Administrative Agent), (ii) the stated maturity date of such Subordinated Indebtedness does not occur prior to the Revolving Credit Maturity Date, (iii) no Default or Event of Default is then in existence or would be caused by the issuance of such additional Subordinated Indebtedness and (iv) the Borrower and any Subsidiary are and shall be in compliance with the financial covenant set forth in Section 6.2 both immediately before and after giving pro forma effect to the incurrence of such Subordinated Indebtedness.
Additional Subordinated Indebtedness. There shall occur a "Default or "Event of Default" (or any comparable term) under, and as defined in, the documentation evidencing the Additional Subordinated Indebtedness; or
Additional Subordinated Indebtedness. No later than May 15, 2017, Enservco shall receive at least $1,000,000 of additional unsecured Indebtedness that is subordinated to the Obligations in a manner satisfactory to Agent in its Permitted Discretion. Enservco shall use all of the proceeds of such Indebtedness to pay down the principal balance of the Revolving Advances. Upon such pay down, Agent shall impose a permanent block against availability under the Revolving Advances facility in an amount equal to the amount of such pay down.
Additional Subordinated Indebtedness. After the Closing Date and prior to March 30, 2007, the Borrower shall not receive at least $12,500,000 in Equity Proceeds or the proceeds of Subordinated Indebtedness (including under the Subordinate Facility);
Additional Subordinated Indebtedness. 122 Exhibits Exhibit A Term Note A Exhibit B Term Note B Exhibit C Revolving Note Exhibit D Borrowing Base Certificate Exhibit E Notice of Borrowing Exhibit F Notice of Conversion/Continuation Exhibit G Compliance Certificate Exhibit H Borrower Security Agreement Exhibit I Holdings Pledge Agreement Exhibit J Seller Subordination Agreement Exhibit K Financial Condition Certificate Exhibit L Borrower Pledge Agreement Exhibit M Subsidiary Guaranty Exhibit N Subsidiary Security Agreement
Additional Subordinated Indebtedness. Agent and Lenders acknowledge that, prior to the Closing Date, Borrower has informed Agent and Lenders that after the Closing Date, Borrower intends to request that Agent and Lenders consent to the issuance by Borrower of additional Subordinated Indebtedness in the aggregate principal amount of $10,000,000. Each Loan Party agrees that the acknowledgment of the receipt of such notice from Borrower by Agent and Lenders does not constitute the consent of or the granting of permission by Agent or any Lender to such additional Subordinated Indebtedness nor does it obligate Agent or any Lender to consent to or permit such additional Subordinated Indebtedness.
Additional Subordinated Indebtedness. Unsecured Subordinated Indebtedness (in addition to the Indebtedness under the Subordinated Indenture and the Second Subordinated Indenture (collectively, the “Current Indentures”)) on terms and conditions not materially more restrictive than under the Current Indentures or otherwise acceptable to the Administrative Agent and provided that (i) no Default or Event of Default is then in existence or would be caused by the issuance of such additional Subordinated Indebtedness, (ii) no principal payments under such additional Subordinated Indebtedness shall be due prior to six months after the scheduled maturity date of the Notes and (iii) in the indenture or other document pursuant to which the additional Subordinated Indebtedness is issued, all Indebtedness under and in compliance with the terms of this Agreement is denominated and defined as “Senior Debt” and “Designated Senior Debt” as in the Current Indentures (or terms similar thereto and approved by the Administrative Agent).”
(j) In Section 7.3 entitled “Investments and Guaranty Obligations”, a new clause (iv) is added to subsection (c) as follows: “or (iv) of a Foreign Subsidiary (which is not a Guarantor) or a Non-Material Subsidiary (which is not a Guarantor) in any other Foreign Subsidiary or Non-Material Subsidiary, made in the ordinary course of business”
(k) In Section 7.3 entitled “Investments and Guaranty Obligations”, the following provision is added at the end of subsection (e) thereof, “provided, however, Investments made by the Borrower or any Subsidiary in a Subsidiary for the sole purpose of funding the consideration for a Permitted Acquisition, whether in one or more series of related transactions, shall not be considered Investments for the purposes of calculating such amount, but rather shall be included in the calculation of the amount of total consideration for such Permitted Acquisition under Section 7.8(c) (iv) hereof.”
(l) In Section 7.4 entitled “Restricted Payments”, the following clause (iii) is added to subsection (b) as follows: “or (iii) any Non-Material Subsidiary may declare and pay or make Restricted Payments to any other Non-Material Subsidiary.”
(m) In Section 7.4 entitled “Restricted Payments”, the existing subsection (d)(ii) is deleted and replaced with the following:
