High Yield Indebtedness Clause Samples

High Yield Indebtedness. TGI shall have issued high yield bonds in an aggregate principal amount of at least $300,000,000.00, the Net Proceeds of which shall be applied to prepay the Loans and/or permanently reduce the Commitments in accordance with Section 5.6.2 of the Credit Agreement;
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High Yield Indebtedness. Make any interest or principal payment on any of the New Subordinated High Yield Indebtedness or other subordinated Indebtedness during the existence of a payment Default or Event of Default. Upon the occurrence of an Event of Default, the Borrower and the Parent shall immediately, upon the written request of the Administrative Agent, notify the trustee under any New Subordinated High Yield Indebtedness. Upon the occurrence of any breach, default or event of default under any of the documentation relating to any New Subordinated High Yield Indebtedness, the Parent and the Borrower shall promptly notify the Administrative Agent. The Parent and the Borrower shall take all actions necessary under any documentation relating to any New Subordinated High Yield Indebtedness to cause the Obligations to be Designated Senior Indebtedness (or any comparable term in the documentation for any New Subordinated High Yield Indebtedness) at all times and for all purposes of the any New Subordinated High Yield Indebtedness and all documentation related to any New Subordinated High Yield Indebtedness.
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Related to High Yield Indebtedness

  • Investments; Indebtedness PNU shall not, and shall not permit any of its Subsidiaries to, other than in connection with actions permitted by Section 4.1(e), (i) make any loans, advances or capital contributions to, or investments in, any other Person, other than (x) by PNU or a direct or indirect wholly owned Subsidiary of PNU to or in PNU or any direct or indirect wholly owned Subsidiary of PNU, (y) pursuant to any contract or other legal obligation of PNU or any of its Subsidiaries as in effect at the date of this Agreement or (z) in the ordinary course of business consistent with past practice in an aggregate amount not in excess of the aggregate amount specified in Section 4.1(g) of the PNU Disclosure Schedule or (ii) create, incur, assume or suffer to exist any indebtedness, issuances of debt securities, guarantees, loans or advances not in existence as of the date of this Agreement except pursuant to the credit facilities, indentures (but not in excess of amounts authorized for issuance thereunder as of the date of this Agreement) and other arrangements in existence on the date of this Agreement or trade debt and commercial finance in the ordinary course of business consistent with past practice, in each case as such credit facilities, indentures and other arrangements and other existing indebtedness may be amended, extended, modified, refunded, renewed or refinanced after the date of this Agreement which does not increase the aggregate principal amount or amount of the facility, as the case may be.

  • Outstanding Indebtedness For the avoidance of doubt, to the extent that any Indebtedness is repaid, redeemed, repurchased, defeased or otherwise acquired, retired or discharged, in each case, in accordance with the terms of the documentation governing such Indebtedness, such Indebtedness shall be deemed to be paid off and not to be outstanding for any purpose hereunder to the extent of the amount of such repayment, redemption, repurchase, defeasance, retirement or discharge.

  • Secured Indebtedness The Borrower shall not permit the ratio of (i) Secured Indebtedness of the Borrower and its Subsidiaries to (ii) Total Asset Value to be greater than 0.40 to 1.00 at any time.

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

  • Subordinated Indebtedness The Obligations constitute senior indebtedness which is entitled to the benefits of the subordination provisions of all outstanding Subordinated Indebtedness.