Contract Debt Sample Clauses

Contract Debt. As of the end of any Business Day, the principal amount you have outstanding on any loan under this Contract, plus any accrued and unpaid interest.
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Contract Debt. As of the end of any Business Day, the principal amount you have outstanding on any loan under this Contract, plus any accrued and unpaid interest. Contract Value — As of the end of any Business Day, the Contract Value is equal to the sum of the Variable Account Value plus any Loan Account Value.
Contract Debt. Contract debt at any time means the loan on the contract, plus the interest we have charges that is not yet due and that we have not yet added to the loan.
Contract Debt. Contract debt at any time means the loan on the contract, plus the interest we have charges that is not yet due and that we have not yet added to the loan. Loan Value.--You may borrow any amount up to the difference between the loan value and any existing contract debt. At any time the loan value is 90% of the net cash value. There is one exception. If the contract is I default, the loan value during the days of grace is what it was on the date of default.
Contract Debt. As of the end of any Business Day, the principal amount you have outstanding on any loan under this Contract, plus any accrued and unpaid interest. Contract Value - As of the end of any Business Day, the Contract Value is equal to the sum of the Variable Account Value plus any Loan Account Value. The Contract Value includes the value of any Credit Enhancements applied to the Contract. Credit Enhancement - An amount added to the Contract Value at the time a Purchase Payment is applied and on the first Contract Anniversary, if applicable. All Credit Enhancements will be considered earnings under the Contract. General Account - The General Account consists of our assets, other than those assets allocated to Separate Account A or to any of our other separate accounts. Investment Option - A Variable Account offered under the Contract. Loan Account - The account in which the amount equal to the principal amount of a loan and any interest accrued is held to secure any Contract Debt. Loan Account Value - The amount, including any interest accrued, held in the Loan Account to secure any Contract Debt. Net Contract Value - The Contract Value less any Contract Debt. Non-Natural Owner - A corporation or other entity that is not a (natural) person. Non-Qualified Contract - A Contract other than a Qualified Contract.
Contract Debt. As of the end of any Business Day, the principal amount you have outstanding on any loan under this Contract, plus any accrued and unpaid interest. Contract Value - As of the end of any Business Day, the Contract Value is equal to the sum of the Variable Account Value, plus the Fixed Option Value, plus any Loan Account Value. Fixed Option - An Investment Option to which Purchase Payments and transfers may be allocated. Amounts allocated to the Fixed Option are held in our General Account and receive interest at rates declared periodically (the "Guaranteed Interest Rate"), but not less than an annual rate of 3%. Fixed Option Value - The aggregate amount of the Contract Value allocated to the Fixed Option. General Account - The General Account consists of our assets, other than those assets allocated to Separate Account A or to any of our other separate accounts. Guaranteed Interest Rate - The interest rate guaranteed at the time of allocation (or rollover) for the Guarantee Term on amounts allocated to the Fixed Option. The Guaranteed Interest Rate is expressed as an annual rate, and interest is accrued daily. This rate will not be less than an annual rate of 3%. Guarantee Term - The period during which amounts allocated to the Fixed Option earn a specified Guaranteed Interest Rate. Investment Option - A Variable Account or the Fixed Option offered under the Contract.
Contract Debt. As of the end of any Business Day, the principal amount you have outstanding on any loan under this Contract, plus any accrued and unpaid interest. Contract Value — As of the end of any Business Day, the Contract Value is equal to the sum of the Variable Account Value plus any Loan Account Value. The Contract Value includes the value of any Credit Enhancements applied to the Contract. Credit Enhancement — An amount added to the Contract Value at the time a Purchase Payment is applied. All Credit Enhancements will be considered earnings under the Contract. General AccountThe General Account consists of our assets, other than those assets allocated to Separate Account A or to any of our other separate accounts. Investment Option — A Variable Account offered under the Contract. Loan Account — The account in which the amount equal to the principal amount of a loan and any interest accrued is held to secure any Contract Debt. Loan Account Value — The amount, including any interest accrued, held in the Loan Account to secure any Contract Debt. Net Contract Value — The Contract Value less any Contract Debt. Non-Natural Owner — A corporation or other entity that is not a (natural) person. Non-Qualified ContractA Contract other than a Qualified Contract. Notice DateThe day on which we receive, in a form satisfactory to us, proof of death and instructions satisfactory to us regarding payment of death benefit proceeds.
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Contract Debt. As of the end of any Business Day, the principal amount you have outstanding on any loan under this Contract, plus any accrued and unpaid interest. Contract Value - As of the end of any Business Day, the Contract Value is equal to the sum of the Variable Account Value, plus any Loan Account Value. General Account - The General Account consists of our assets, other than those assets allocated to Separate Account A or to any of our other separate accounts. Investment Option - A Variable Account offered under the Contract. Loan Account - The account in which the amount equal to the principal amount of a loan and any interest accrued is held to secure any Contract Debt. Loan Account Value - The amount, including any interest accrued, held in the Loan Account to secure any Contract Debt. Net Contract Value - The Contract Value less any Contract Debt. Non-Natural Owner - A corporation or other entity that is not a (natural) person. Non-Qualified Contract - A Contract other than a Qualified Contract.
Contract Debt. As of the end of any Business Day, the principal amount you have outstanding on any loan under this Contract, plus any accrued and unpaid interest. Contract Value - As of the end of any Business Day, the Contract Value is equal to the sum of the Variable Account Value, plus the GIO Value, plus any Loan Account Value. General Account - The General Account consists of our assets, other than those assets allocated to Separate Account A or to any of our other separate accounts. Guaranteed Interest Option ("GIO") - An Investment Option to which Purchase Payments and transfers may be allocated. The GIOs available under the Contract are shown in the Contract Specifications. Amounts allocated to a GIO are held in our General Account and receive interest at rates declared periodically (the "Guaranteed Interest Rate") for the Guarantee Term selected, but not less than an annual rate of 3%. Amounts held in a GIO are subject to a Market Value Adjustment, if such amounts are withdrawn, transferred or converted to an annuity before the end of its Guarantee Term.

Related to Contract Debt

  • Prepayment of Other Indebtedness, Etc The Credit Parties will not permit any Consolidated Party to (a) if any Default or Event of Default has occurred and is continuing or would be directly or indirectly caused as a result thereof, (i) amend or modify any of the terms of any Indebtedness of such Consolidated Party if such amendment or modification would add or change any terms in a manner adverse to such Consolidated Party, or shorten the final maturity or average life to maturity or require any payment to be made sooner than originally scheduled or increase the interest rate applicable thereto, or (ii) except for the exchange of the Subordinated Notes for (A) the Subordinated Remarketed Notes or (B) notes with identical terms as the Subordinated Remarketed Notes registered pursuant to the registration rights agreement attached as an exhibit to the Subordinated Note Purchase Agreement, make (or give any notice with respect thereto) any voluntary or optional payment or prepayment or redemption or acquisition for value of (including without limitation, by way of depositing money or securities with the trustee with respect thereto before due for the purpose of paying when due), refund, refinance or exchange of any other Indebtedness of such Consolidated Party, (b) amend or modify any of the terms of any Subordinated Indebtedness if such amendment or modification would add or change any terms in a manner adverse to the Consolidated Parties, or shorten the final maturity or average life to maturity thereof or require any payment to be made sooner than originally scheduled or increase the interest rate applicable thereto or change any subordination provision thereof, (c) make interest payments (including payment of accrued interest and premium, if any, payable in connection with a redemption of any Subordinated Indebtedness permitted under this Section 8.8) or any other payments in respect of any Subordinated Indebtedness in violation of the subordination provisions of the documents evidencing or governing such Subordinated Indebtedness or (d) except for the exchange of the Subordinated Notes for (A) the Subordinated Remarketed Notes or (B) notes with identical terms as the Subordinated Remarketed Notes registered pursuant to the registration rights agreement attached as an exhibit to the Subordinated Note Purchase Agreement, make (or give any notice with respect thereto) any voluntary or optional payment or prepayment, redemption, acquisition for value or defeasance of (including without limitation, by way of depositing money or securities with the trustee with respect thereto before due for the purpose of paying when due), refund, refinance or exchange of any Subordinated Indebtedness.

  • Securing Repayment In order to secure repayment of the Fund’s obligations to the Custodian, the Fund hereby agrees that the Custodian shall have, to the maximum extent permitted by law, a continuing lien and security interest in, and right of setoff against: (a) all of the Fund’s right, title and interest in and to all Accounts in the Fund’s name and the Securities, money and other property now or hereafter held in such Accounts (including proceeds thereof) and (b) any other property at any time held by the Custodian for the Fund. In the event the Custodian has such a legally permissible continuing lien and security interest, the Custodian shall be entitled to collect from the Accounts sufficient cash for reimbursement, and if such cash is insufficient, to sell the Securities in the Accounts to the extent necessary to obtain reimbursement (but only to the extent permitted by the 1940 Act). In this regard, the Custodian shall be entitled to all the rights and remedies of a pledgee and secured creditor of a registered investment company under applicable laws, rules or regulations as then in effect.

  • Prepayments of Other Indebtedness Modifications of Certificate of Incorporation, Other Constitutive Documents or By-Laws and Certain Other Agreements, etc. 86 SECTION 6.09. Limitation on Certain Restrictions on Subsidiaries 87 SECTION 6.10. Limitation on Issuance of Capital Stock 87 SECTION 6.11. Limitation on Creation of Subsidiaries 88 SECTION 6.12. Business 88 SECTION 6.13. Limitation on Accounting Changes 88 SECTION 6.14. Fiscal Year 88 SECTION 6.15. Sale and Leaseback Transactions 89 SECTION 6.16. Anti-Terrorism Law; Anti-Money Laundering 89 SECTION 7.01. The Guarantee 89 SECTION 7.02. Obligations Unconditional 89 SECTION 7.03. Reinstatement 91 SECTION 7.04. Subrogation; Subordination 91 SECTION 7.05. Remedies 91 SECTION 7.06. Instrument for the Payment of Money 91 SECTION 7.07. General Limitation on Guarantee Obligations 92 SECTION 8.01. Events of Default 92 SECTION 9.01. Collateral Account 94 SECTION 9.02. Proceeds of Casualty Events 95 SECTION 9.03. Application of Proceeds 96 SECTION 10.01. Appointment 96 SECTION 10.02. Agent in Its Individual Capacity 97 SECTION 10.03. Exculpatory Provisions 97 SECTION 10.04. Reliance by Agent 97 SECTION 10.05. Delegation of Duties 97 SECTION 10.06. Successor Agent 98 SECTION 10.07. Non-Reliance on Agent and Other Lenders 98 SECTION 10.08. No Other Administrative Agent 98 SECTION 10.09. Indemnification 99 SECTION 11.01. Notices 99 SECTION 11.02. Waivers; Amendment 100 SECTION 11.03. Expenses; Indemnity 102 SECTION 11.04. Successors and Assigns 103 SECTION 11.05. Survival of Agreement 106 SECTION 11.06. Counterparts; Integration; Effectiveness 106 SECTION 11.07. Severability 107 SECTION 11.08. Right of Setoff 107 SECTION 11.09. Governing Law; Jurisdiction; Consent to Service of Process 107 SECTION 11.10. WAIVER OF JURY TRIAL 108 SECTION 11.11. Headings 108 SECTION 11.12. Confidentiality 108 SECTION 11.13. Interest Rate Limitation 109 Schedule 1.01(a) Mortgaged Properties Schedule 1.01(c) Subsidiary Guarantors Schedule 3.03 Governmental Approvals; No Conflicts Schedule 3.05(c) Intellectual Property Schedule 3.06(a) Subsidiaries Schedule 3.08 Material Agreements Schedule 3.18 Insurance Schedule 4.02(l)(vi) Landlord Access Agreements Schedule 5.10 Post-Closing Obligations Schedule 6.01 Existing Indebtedness Schedule 6.02 Existing Liens Schedule 6.04 Specified Acquisitions Exhibit A Form of Landlord Access Agreement Exhibit B Form of Administrative Questionnaire Exhibit C Form of Assignment and Assumption Exhibit D Form of Borrowing Request Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Confidential Lender Authorization Exhibit H Form of Mortgage Exhibit I-1 Form of Term Note Exhibit I-2 Form of Revolving Note Exhibit I-3 Form of Swingline Note Exhibit J-1 Form of Perfection Certificate Exhibit J-2 Form of Perfection Certificate Supplement Exhibit K Form of Security Agreement Exhibit L Form of Exemption Certificate Exhibit M Form of Solvency Certificate Exhibit N Form of Intercompany Note Exhibit O Form of Mortgage Amendment AMENDED AND RESTATED CREDIT AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”) dated as of August 1, 2007, among COMMUNICATIONS & POWER INDUSTRIES, INC., a Delaware corporation (“Borrower”), CPI INTERNATIONAL, INC. (formerly known as CPI Holdco, Inc.), a Delaware corporation (“Parent”), the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given it in Article I), the Lenders, UBS SECURITIES LLC and BEAR, XXXXXXX & CO. INC., as joint lead arrangers and bookrunners (in such capacity, “Joint Lead Arrangers”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD BRANCH, as administrative agent (in such capacity, “Administrative Agent”) for the Lenders, and collateral agent (in such capacity, “Collateral Agent”) for the Secured Parties and as issuing bank (in such capacity, “Issuing Bank”), BEAR XXXXXXX CORPORATE LENDING INC., as Syndication Agent (in such capacity, “Syndication Agent”), THE ROYAL BANK OF SCOTLAND PLC, as Documentation Agent (in such capacity, “Documentation Agent”) and RBS SECURITIES CORP., as co-arranger and bookrunner (in such capacity, “Co-Arranger”).

  • Indebtedness Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness.

  • Guaranteed Indebtedness No Credit Party shall create, incur, assume or permit to exist any Guaranteed Indebtedness except (a) by endorsement of instruments or items of payment for deposit to the general account of any Credit Party, and (b) for Guaranteed Indebtedness incurred for the benefit of any other Credit Party if the primary obligation is expressly permitted by this Agreement.

  • Indebtedness of Subsidiaries The Company will not at any time permit any Subsidiary, directly or indirectly, to create, incur, assume, guarantee, have outstanding, or otherwise become or remain directly or indirectly liable for, any Indebtedness other than: (a) Indebtedness of a Subsidiary outstanding on the Closing Date and listed on Schedule 5.15 and any extension, renewal or refunding thereof, provided that the principal amount outstanding at the time of such extension, renewal or refunding is not increased; (b) Indebtedness of (a) any Subsidiary to any Wholly-Owned Subsidiary, (b) the Company or any Co-Obligor to any Wholly-Owned Subsidiary, (c) Lxxxxxx Finance Company B.V. to any Subsidiary (other than any Subsidiary Guarantor) in an aggregate outstanding principal amount not to exceed $50,000,000 at any time and (d) any one or more Co-Obligors to Hxxxxx CBI, Limited in the aggregate outstanding principal amount not to exceed $100,000,000; provided, that if either the Company or any Co-Obligor is the obligor on such Indebtedness, such Indebtedness may only be due either the Company or a Co-Obligor and shall be expressly subordinate to the payment in full in cash of the Credit Obligations on terms reasonably satisfactory to the Administrative Agent; (c) guaranties by a Subsidiary Guarantor of Indebtedness of the Company; (d) Indebtedness under the Credit Agreement outstanding from time to time; (e) Indebtedness under the Existing Note Purchase Agreement outstanding from time to time; (f) Indebtedness with respect to the Hedging Arrangements pursuant to which the Company or any Subsidiary has hedged its reasonably estimated interest rate, foreign currency or commodity exposure, and which are non-speculative in nature; (g) Indebtedness under the LOC Agreements and guaranties thereof by the Subsidiary Guarantors; (i) recourse obligations resulting from endorsement of negotiable instruments for collection in the ordinary course of business; (ii) Contingent Obligations of the Company and its Subsidiaries identified as such on Schedule 7.11(h) to this Agreement; (iii) Contingent Obligations (x) incurred by any Subsidiary of the Company to support the performance of bids, tenders, sales, contracts (other than for the repayment of borrowed money) of any other Subsidiary of the Company in the ordinary course of business, (y) incurred by any Subsidiary of the Company under the Credit Agreement, or (z) with respect to surety, appeal and performance bonds and Performance Letters of Credit obtained by the Company or any Subsidiary in the ordinary course of business; and (iv) Contingent Obligations of the Subsidiary Guarantors under the Subsidiary Guaranty; and (i) Indebtedness of a Subsidiary not otherwise permitted by the preceding clauses (a) through (g), provided that immediately before and after giving effect to the incurrence thereof and to the application of the proceeds thereof, (i) no Default or Event of Default exists, and (ii) the aggregate amount of all Indebtedness incurred pursuant to this Section 7.11(h) does not exceed 20% of Consolidated Net Worth.

  • Warranty Obligations ‌ (a) Project Co represents, warrants and covenants that: (i) the Works shall conform to the requirements of this Project Agreement, Good Industry Practice, Applicable Law and all professional engineering principles generally accepted as standards of the industry in the Province of Ontario; (ii) the Works shall be free of defects, including design defects, errors and omissions; and (iii) materials and equipment shall be of good quality and in compliance with this Project Agreement. (b) During the Warranty Period and subject to Section 11.15(c), Project Co shall promptly, at its sole cost and expense, correct and Make Good all Construction Defects arising in respect of the Works. For greater certainty, Project Co is required to correct and Make Good Construction Defects related to any Product during the applicable Warranty Period despite Project Co having obtained on Contracting Authority’s behalf industry- standard or other equipment warranties in accordance with Section 11.15(f). For all work to correct Construction Defects, the applicable Warranty Period shall be extended for a further two years from the date of the last work completed in respect of such corrective Works. For clarity, any extension of a Warranty Period for the purposes of a correction shall only apply to the relevant Construction Defect and not the Works as a whole.‌ (c) In addition to the obligation to correct and Make Good Construction Defects during the Warranty Period, Project Co shall at its expense correct and Make Good any Construction Defects that could not reasonably have been ascertained by a competent person in accordance with Good Industry Practice during a visual inspection of the‌ Works (“Construction Latent Defect”), provided Contracting Authority gives Project Co written Notice of the Construction Latent Defect within the time frame applicable to such Construction Latent Defect pursuant to the Limitations Act, 2002 (Ontario). (d) The warranties described in this Section 11.15 shall cover labour and material, including, the costs of removal and replacement of covering materials. The warranties shall not limit extended warranties on any Product or item of equipment called for elsewhere in the Output Specifications or otherwise provided by any manufacturer of such Product or equipment. (e) If Project Co fails to correct and Make Good any Construction Defects or Construction Latent Defects in accordance with Sections 11.15(b) and 11.15(c) and in the time period specified in Section 11.16(a) or Section 11.16(b), as applicable, without prejudice to any other right or remedy Contracting Authority may have, Contracting Authority may correct such Construction Defects or Construction Latent Defects at Project Co’s sole cost and expense. (f) Project Co shall obtain warranties from the manufacturers of each of the Products for the duration(s) and in accordance with the applicable requirements specified in the Output Specifications in the name of and to the benefit of both Project Co and Contracting Authority. Where, in respect of a Product warranty, the Output Specifications do not specify a specific duration and/or other requirements, Project Co shall obtain industry-standard warranties from the applicable manufacturers in the name of and to the benefit of Project Co and Contracting Authority which shall extend no less than two years from the Substantial Completion Date. Each Product warranty shall be issued by the applicable manufacturer and delivered to Project Co no later than 30 days prior to the Substantial Completion Date. Project Co shall ensure that each Product warranty, including any Product warranty extended under this Section 11.15(f), is fully assigned to Contracting Authority, at no cost or expense to Contracting Authority, at the end of the Warranty Period, as such Warranty Period may be extended in accordance with Section 11.15(b).‌

  • Guaranty Obligations Unless otherwise specified, the amount of any Guaranty Obligation shall be the lesser of the principal amount of the obligations guaranteed and still outstanding and the maximum amount for which the guaranteeing Person may be liable pursuant to the terms of the instrument embodying such Guaranty Obligation.

  • Prepayments of Indebtedness, etc The Borrower will not, nor will it permit any of its Subsidiaries to, (i) after the issuance thereof, amend or modify (or permit the amendment or modification of) any of the terms of any Indebtedness (including without limitation the Indebtedness evidenced by the TI Deferred Financing Note) if such amendment or modification would add or change any terms in a manner adverse to either the issuer of such Indebtedness or any of the Lenders, or shorten the final maturity or average life to maturity or require any payment to be made sooner than originally scheduled or increase the interest rate applicable thereto or change any subordination provision thereof, (ii) (A) if any Default or Event of Default has occurred and is continuing or would be directly or indirectly caused as a result thereof, make (or give any notice with respect thereto) any voluntary or optional payment or prepayment or redemption or acquisition for value of (including without limitation, by way of depositing money or securities with the trustee with respect thereto before due for the purpose of paying when due), refund, refinance or exchange of, any other Indebtedness (other than Intercompany Indebtedness), (B) except as otherwise permitted by Section 8.6(iv), make any payment or prepayment of any Intercompany Indebtedness or (C) make any voluntary

  • Intercompany Indebtedness The Company shall not create, incur, assume or otherwise become or remain directly or indirectly liable with respect to any Indebtedness arising from loans from any Subsidiary to the Company unless (a) such Indebtedness is unsecured and (b) such Indebtedness shall be expressly subordinate to the payment in full in cash of the Obligations on terms satisfactory to the Administrative Agent.

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