Permitted Refinancing Indebtedness provided that the restrictions contained in the agreements governing such Permitted Refinancing Indebtedness are not materially more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being refinanced;
Permitted Refinancing Indebtedness. (a) Notwithstanding anything in Clause 7.2 (Payment of Secured Permitted Refinancing Liabilities) of the Intercreditor Agreement, where any Obligor makes any voluntary payment, repayment or prepayment in the nature of principal on all or any part of any Permitted Refinancing Indebtedness (a “Permitted Refinancing Indebtedness Voluntary Prepayment”), the Borrower shall (and shall ensure that each other member of the Borrower Group will), on or about the same date, prepay the Facility A Loans in accordance with Clause 8.9 (Voluntary prepayment of Facility A Loans) by an amount representing a fraction of all Facility A Loans where:
(i) the numerator of such fraction is the amount the Permitted Refinancing Indebtedness Voluntary Prepayment; and
(ii) the denominator of such fraction is the aggregate principal amount of all Permitted Refinancing Indebtedness immediately prior to the Permitted Refinancing Indebtedness Voluntary Prepayment.
(b) Paragraph (a) above does not apply where:
(i) no Event of Default has occurred and is continuing; and
(ii) on the date of the Permitted Refinancing Indebtedness Voluntary Prepayment:
(A) the Debt (but without taking into account the effect that Permitted Refinancing Indebtedness Voluntary Prepayment) as of the last Relevant Date falling on or before the date of the Permitted Refinancing Indebtedness Voluntary Prepayment; to:
(B) the Consolidated Adjusted EBITDA for the Relevant Period ending on the Relevant Date described in paragraph (A) above, is less than or equal to 3.50 to 1, as evidenced by a Compliance Certificate delivered to the Agent on or before the date of such incurrence, setting out (in reasonable detail) computations as to compliance with the above ratio.
Permitted Refinancing Indebtedness. Any Indebtedness of the Loan Parties issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund, Permitted Existing Indebtedness, Indebtedness otherwise permitted by this Agreement or other Permitted Refinancing Indebtedness of such Person, provided, that:
Permitted Refinancing Indebtedness. 14 Person ..................................................... 15
Permitted Refinancing Indebtedness the following definition had been inserted in the relevant place, alphabetically, in clause 1.1 of the Original Loan Agreement:
Permitted Refinancing Indebtedness. In the event the Borrower intends to refinance any Indebtedness with the proceeds of Permitted Refinancing Indebtedness as contemplated by Section 9.02(b), prior written notice of such intended offering therefor, the amount thereof and the anticipated date of closing, and a copy of the preliminary offering memorandum (if any) and the final offering memorandum (if any).
Permitted Refinancing Indebtedness. Any Indebtedness (“Refinancing Indebtedness”) that extends, replaces, amends, amends and restates, modifies, supplements, renews, restructures or refinances the OpCo Obligations as in effect on the date hereof (the “Original Obligations”); so long as the aggregate principal amount of term loans and revolving commitments under all such Refinancing Indebtedness does not exceed the sum of (i) the principal amount of the term loans and revolving commitments outstanding under the OpCo Credit Agreement as of the date hereof by more than $25,000,000, plus any accrued and unpaid interest to the date such Permitted Refinancing Indebtedness is incurred and (ii) the costs and expenses incurred in connection with such Refinancing Indebtedness.
Permitted Refinancing Indebtedness. As defined in the Specified Senior Secured Credit Agreement. Person. Any individual, corporation, limited liability company, partnership, trust, unincorporated association, or other legal entity, and any government or any governmental agency or political subdivision thereof.
Permitted Refinancing Indebtedness provided, however, that the encumbrances and restrictions contained in the agreements governing such Permitted Refinancing Indebtedness are not materially more restrictive, taken as a whole, than those contained in the more restrictive of (x) the agreements governing the Indebtedness being refinanced and (y) this Indenture, as determined in good faith by the Board of Directors of the Company; (9) Liens permitted to be incurred under the provisions of Section 4.12 hereof that limit the right of the debtor to dispose of the assets subject to such Liens; (10) provisions limiting the disposition or distribution of assets or property in joint venture agreements, asset sale agreements, sale-leaseback agreements, stock sale agreements and other similar agreements entered into with the approval of the Company’s or a Guarantor’s Board of Directors, which limitation is applicable only to the assets that are the subject of such agreements; (11) restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business; (12) provisions limiting the disposition or distribution of assets in joint venture agreements entered into (i) in the ordinary course of business or (ii) with the approval of the Company’s or a Guarantor’s Board of Directors or chief financial officer, which limitation or prohibition is applicable only to the assets that are the subject of such agreements; (13) net worth provisions in leases and other agreements entered into by the Company or any Guarantor in the ordinary course of business; or (14) agreements governing Indebtedness permitted to be incurred pursuant to Section 4.09 hereof; provided, however, that the Board of Directors of the Company determines in good faith (such determination to be evidenced by a resolution of the Board of Directors) that such encumbrances and restrictions are not materially more restrictive, taken as a whole, than those in the more restrictive of (x) the Xxxxxxx Credit Agreement (as in effect on the date of this Indenture) and (y) this Indenture, and would not reasonably be expected to impair the ability of the Company to make payments of interest and scheduled payments of principal on the Notes, in each case as and when due, or to impair any Guarantor’s ability to honor its Note Guarantee.
Permitted Refinancing Indebtedness. The Term Loans constitute Permitted Refinancing Indebtedness (as defined in the Existing Senior Secured Credit Agreement). The repurchase of the Subordinated Notes pursuant to the transactions contemplated hereby with the proceeds of the Term Loans is permitted under the Existing Senior Secured Credit Agreement.
