Common use of Payment In Full and Paid Clause in Contracts

Payment In Full and Paid. In Full shall mean the indefeasible payment in full in cash of the Loans and other Obligations hereunder, termination of the Commitments and expiration or termination of all Letters of Credit. PBGC shall mean the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA or any successor. Pennsylvania Financing Agreement shall mean Financing Agreement, dated April 18, 2008, by and among Triumph Controls, LLC, Xxxxxxxxxx County Industrial Development Authority and Xxxxx Brothers Xxxxxxxx & Co., as amended from time to time. Permitted Acquisition shall have the meaning assigned to such term in Section 8.2.6. Permitted Filing Period shall mean the period commencing on the Eighth Amendment Effective Date and ending on the date that is 90 days after the Eighth Amendment Effective Date. Permitted Indebtedness shall mean any Indebtedness, other than, during the Aerostructures Bankruptcy Period, Indebtedness of the Aerostructures Filing Entities, so long as (i) such Indebtedness is unsecured, (ii) the Obligations under this Agreement, the Notes and each of the other Loan Documents rank at least pari passu in priority of payment with such Indebtedness, (iii) the Net Proceeds of such Indebtedness are applied to prepay the Loans and/or permanently reduce the Commitments as set forth in Section 5.6 hereof, (iv) such Indebtedness (A) is scheduled to mature at least 91 days after the Expiration Date and (B) has a weighted average life to maturity equal to or greater than the weighted average life to maturity of the Loans, and (v) the documents governing such Indebtedness are on market terms (as determined in the reasonable good faith judgment of the Administrative Agent) and contain covenants that are no more restrictive, when taken as a whole, in any material respect (as determined in the reasonable good faith judgment of the Administrative Agent), than the covenants set forth herein and in the other Loan Documents. Permitted Indebtedness Prepayment shall have the meaning assigned to that term in Section 5.6.3. Permitted Investments shall mean:

Payment In Full and Paid. In Full shall mean the indefeasible payment in full in cash of the Loans and other Obligations hereunder, termination of the Commitments and expiration or termination of all Letters of Credit. PBGC shall mean the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA or any successor. Pennsylvania Financing Agreement shall mean Financing Agreement, dated April 18, 2008, by and among Triumph Controls, LLC, Xxxxxxxxxx County Industrial Development Authority and Xxxxx Brothers Xxxxxxxx & Co., as amended from time to time. Permitted Acquisition shall have the meaning assigned to such term in Section 8.2.6. Permitted Filing Period shall mean the period commencing on the Eighth Amendment Effective Date and ending on the date that is 90 days after the Eighth Amendment Effective Date. Permitted Indebtedness shall mean any Indebtedness, other than, during the Aerostructures Bankruptcy Period, Indebtedness of the Aerostructures Filing Entities, so long as (i) such Indebtedness is unsecured, (ii) the Obligations under this Agreement, the Notes and each of the other Loan Documents rank at least pari passu in priority of payment with such Indebtedness, (iii) the Net Proceeds of such Indebtedness are applied to prepay the Loans and/or permanently reduce the Commitments as set forth in Section 5.6 5.6.2 hereof, (iv) such Indebtedness (A) is scheduled to mature at least 91 days after the Expiration Date and (B) has a weighted average life to maturity equal to or greater than the weighted average life to maturity of the Loans, and (v) the documents governing such Indebtedness are on market terms (as determined in the reasonable good faith judgment of the Administrative Agent) and contain covenants that are no more restrictive, when taken as a whole, in any material respect (as determined in the reasonable good faith judgment of the Administrative Agent), than the covenants set forth herein and in the other Loan Documents. Permitted Documents and (vi) the Total Leverage Ratio, on a pro forma basis after giving effect to such Indebtedness, is less than 4.50 to 1.00; provided that this clause (vi) shall not apply to the issuance by TGI of high yield bonds in an aggregate principal amount not to exceed $500,000,000.00 (the “High Yield Indebtedness”) so long as such High Yield Indebtedness Prepayment shall have is incurred within twelve (12) months following the meaning assigned Ninth Amendment Effective Date and the Net Proceeds thereof are applied to that term prepay the Loans and/or permanently reduce the Commitments as set forth in Section 5.6.35.6.2 hereof. Permitted Investments shall mean:

Payment In Full and Paid. In Full shall mean the indefeasible payment in full in cash of the Loans and other Obligations hereunder, termination of the Commitments and expiration or termination of all Letters of Credit. PBGC shall mean the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA or any successor. Pennsylvania Financing Agreement shall mean Financing Agreement, dated April 18, 2008, by and among Triumph Controls, LLC, Xxxxxxxxxx County Industrial Development Authority and Xxxxx Brothers Xxxxxxxx & Co., as amended from time to time. Permitted Acquisition shall have the meaning assigned to such term in Section 8.2.6. Permitted Filing Period shall mean the period commencing on the Eighth Amendment Effective Date and ending on the date that is 90 days after the Eighth Amendment Effective Date. Permitted Indebtedness shall mean any Indebtedness, other than, during the Aerostructures Bankruptcy Period, Indebtedness of the Aerostructures Filing Entities, so long as (i) such Indebtedness is unsecured, (ii) the Obligations under this Agreement, the Notes and each of the other Loan Documents rank at least pari passu in priority of payment with such Indebtedness, (iii) the Net Proceeds of such Indebtedness are applied to prepay the Loans and/or permanently reduce the Commitments as set forth in Section 5.6 5.6.3 hereof, (iv) such Indebtedness (A) is scheduled to mature at least 91 days after the Expiration Date and (B) has a weighted average life to maturity equal to or greater than the weighted average life to maturity of the Loans, and (v) the documents governing such Indebtedness are on market terms (as determined in the reasonable good faith judgment of the Administrative Agent) and contain covenants that are no more restrictive, when taken as a whole, in any material respect (as determined in the reasonable good faith judgment of the Administrative Agent), than the covenants set forth herein and in the other Loan DocumentsDocuments and (vi) the Total Leverage Ratio, on a pro forma basis after giving effect to such Indebtedness, is less than 4.50 to 1.00. Permitted Indebtedness Prepayment shall have the meaning assigned to that term in Section 5.6.3. Permitted Investments shall mean: