Permitted Additional Debt. The term “Permitted Additional Debt” shall mean:
Permitted Additional Debt. The term “Permitted Additional Debt” shall mean: (a) Indebtedness, whether secured or unsecured, for which the Lender's prior written consent has been obtained, which consent may be withheld, granted or granted conditionally subject to such protective and other conditions as the Lender may require in its sole and absolute discretion; (b) Indebtedness (excluding borrowed funds) incurred in the ordinary course of business of operating the Property which are payable without interest if paid by the applicable due date; (c) any tax, assessment, charge, levy or claim described in Section 10.1.1 provided that Borrower is in compliance with the terms of Section 10.1.1 and (d) the factoring agreement with Crown Financial, LLC dated of even date herewith (the “Factoring Agreement”).
Permitted Additional Debt. Notwithstanding anything to the contrary contained in Section 4.13, Borrower shall be permitted to obtain a loan ("Third Party Loan") from GATX and AON (collectively, "Third Party Lender"), subject to the satisfaction of each and all of the following conditions, any or all of which may be waived, in whole or in part by Agent, in its sole opinion and judgment, and all of which conditions must be satisfied (or waived by Agent) by no later than June 30, 2000:
(a) The Third Party Loan shall be in such amount and on such terms and conditions as are approved in writing by Agent, which approval may be given or withheld in Agent's sole opinion and judgment;
(b) Borrower, at its sole expense, delivers, deposits or causes to be delivered or deposited with Agent, true and complete copies of all loan documents and other documents to be executed or given by or on behalf of Borrower in connection with the Third Party Loan ("Third Party Loan Documents");
(c) The Third Party Loan Documents shall have been reviewed and approved in writing by Agent, which approval may be given or withheld in Agent's sole opinion and judgment, and the Third Party Loan Documents shall contain such revisions and modifications as Agent shall require, in its sole opinion and judgment;
(d) If requested by Agent, an intercreditor agreement in form and content satisfactory to Agent, in its sole opinion and judgment, shall be entered into by and among Third Party Lender, Lenders, Agent,
Permitted Additional Debt senior unsecured or subordinated Indebtedness issued by a Borrower or a Guarantor and, to the extent permitted by Section 10.2.1(b)(x), any Indebtedness incurred by any other Restricted Subsidiary of MRC, (a) the terms of which (i) do not provide for any scheduled repayment, mandatory redemption or sinking fund obligation prior to the date that is 180 days following the U.S. Revolver Commitment Termination Date (other than customary offers to purchase upon a change of control, asset sale or event of loss and customary acceleration rights after an event of default) and (ii) to the extent subordinated provide for customary subordination to the Obligations under the Loan Documents, (b) the covenants, events of default, guarantees and other terms of which (other than interest rate and redemption premiums), taken as a whole, are not more restrictive to such Borrower and the Subsidiaries than those in this Agreement or the Senior Secured Notes Indenture; provided that a certificate of a Senior Officer of such Borrower is delivered to the Agent at least five Business Days (or such shorter period as the Agent may reasonably agree) prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that such Borrower has determined in good faith that such terms and conditions satisfy the foregoing requirement shall be conclusive evidence that such terms and conditions satisfy the foregoing requirement unless the Agent notifies such Borrower within such period that it disagrees with such determination (including a reasonable description of the basis upon which it disagrees), and (c) of which, except to the extent permitted by Section 10.2.1(b)(x), no Subsidiary of MRC (other than a Loan Party) is an obligor. Permitted Discretion: a determination made by Agent, in the exercise of its reasonable credit judgment (from the perspective of a secured asset-based lender), exercised in good faith and subject to Section 7.5.
Permitted Additional Debt. Right To Accelerate Loan - 20 - 9.6.6 Lender's Options - 20 - 9.7 Limits on Guaranties and Distributions - 20 - 9.8 Indemnification Against Payment of Brokers' Fees - 20 - 9.9 No Merger or Acquisition - 20 - 9.10 Construction and Completion of Improvements - 20 - 9.11 Delivery of Certified As-Built Plans - 21 - 9.12 Estoppel Certificate - 21 - 9.13 Costs and Expenses - 21 - 9.14 Compliance with Legal Requirements - 21 - 9.15 Indemnification - 21 - 9.16 Updated Appraisals - 22 - 9.16.1
Permitted Additional Debt. The Facility Agreement will permit senior secured debt by way of increasing the amount of and/or adding one or more revolving and/or term loan facilities and/or borrowing new credit facilities and/or issuing debt securities (whether by way of notes or bonds or other debt instruments) in lieu, ranking pari passu with the Facility (each a Permitted Additional Debt Facility) subject to the following conditions (unless otherwise agreed by the Majority Lenders under the Facility): (a) the purposes of such Permitted Additional Debt shall be limited to Permitted Acquisitions, capital expenditure, working capital and/or general corporate purposes; (b) if the repayment profile of such financial indebtedness (other than any such Financial Indebtedness the purpose of which is to fund working capital) is a bullet repayment profile, the final maturity date of a Permitted Additional Debt Facility shall be no earlier than the Maturity Date of the Facility; (c) if a term facility with amortising repayment, (x) the final maturity date of a Permitted Additional Debt Facility shall be no earlier than the Maturity Date of the Facility and (y) the weighted average life of such Permitted Additional Debt Facility shall not be shorter than the remaining weighted average life of the Facility, or (z) the Lenders of the Facility are offered the same amortisation percentage per annum as the proposed amortising Permitted Additional Debt Facility (if shorter than the amortisation percentage per annum of the Facility); (d) a Permitted Additional Debt Facility shall rank pari passu with the Facility and shall be guaranteed and secured by the same security and guarantees as secure and guarantee the Facility; (e) a Permitted Additional Debt shall be on terms no more onerous for the Group than the Facility or otherwise on terms satisfactory to the Agent (acting on the instructions of the Majority Lenders (acting reasonably)); and (f) the Net Leverage Ratio of the Group would be complied with if recalculated on a pro forma basis, giving effect to the incurrence and full utilisation of and application of proceeds of such Permitted Additional Debt for the most recent Test Date as at the date on which such Permitted Additional Debt is incurred, provided that if such Financial Indebtedness is incurred prior to the First Test Date, the maximum Net Leverage Ratio for that most recent Relevant Period shall be deemed to be the maximum Net Leverage Ratio permitted under the section entitled “Financia...
Permitted Additional Debt. The Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower certifying that the 2026 Senior Notes and 2026 Senior Notes Guaranty comply with the requirements of Section 9.02(g) of the Credit Agreement, as amended hereby.
Permitted Additional Debt. Sections 9.6.4 of the Senior Loan Agreement and the Bridge Loan Agreement are hereby modified by adding an additional subsection “v” at the end thereof as follows: “the Mezzanine Loan.”
Permitted Additional Debt. Sections 9.6.4 (v) of the Senior Loan Agreement and the Bridge Loan Agreement are hereby deleted and replaced as follows: “the Mezzanine Loan and the Second Mezzanine Loan.”
Permitted Additional Debt. The term “Permitted Additional Debt” shall mean: (i) transactions, whether secured or unsecured, for which Lxxxxx’s prior written consent has been obtained, which consent may be withheld, granted or granted conditionally subject to such protective and other conditions as Lender may require in its sole and absolute discretion; and (ii) indebtedness incurred in the ordinary course of business for the purchase of goods or services which are unsecured and payable, without interest, within thirty (30) days of billing and not evidenced by a promissory note or similar instrument.
