Permitted Senior Debt. The Borrower will not permit the outstanding amount of the Permitted Senior Debt to exceed the Borrowing Base.
Permitted Senior Debt. Notwithstanding anything herein to the contrary, unless otherwise agreed in writing by all of the FILO Lenders, if any of the Borrowers at any time after the First Amendment Effective Date incurs any Permitted Senior Debt, the proceeds of such Permitted Senior Debt shall be applied to prepay FILO Loans in an aggregate amount equal to the lesser of (i) the Net Proceeds of such Permitted Senior Debt and (ii) the Total Outstandings under the FILO Facility at such time. Prepayments of the FILO Facility made pursuant to this Section 2.05(g), first, shall be applied ratably to the outstanding FILO Loans that are Base Rate Loans, second, shall be applied ratably to the outstanding FILO Loans that are LIBO Rate Loans, and third, the amount remaining, if any, may be retained by the Borrowers for use in the ordinary course of their business.
Permitted Senior Debt. (a) The Borrower may from time to time enter into agreements to incur, and may incur, Senior Debt Obligations in addition to the Upsized Senior Debt Obligations that, for so long as the Common Terms Agreement remains in effect in accordance with its terms, consist only of Working Capital Debt and/or Replacement Debt (and shall satisfy the requirements of this Article 6 (Incurrence of Additional Senior Debt) applicable to such category of Senior Debt).
(b) Each Senior Creditor Group Representative (on behalf of the Senior Creditors providing Additional Senior Debt) must accede to the Common Security and Account Agreement pursuant to, and in accordance with, the conditions set forth in Section 2.7 (Accession of Senior Creditor Group Representatives) of the Common Security and Account Agreement.
(c) Incurrence of Additional Senior Debt under one Section of this Article 6 (Incurrence of Additional Senior Debt) shall not preclude the incurrence of Additional Senior Debt under any other Section of this Article 6 (Incurrence of Additional Senior Debt), and the failure of the proposed Additional Senior Debt to meet the requirements of one Section of this Article 6 (Incurrence of Additional Senior Debt) shall not preclude the incurrence of such Additional Senior Debt if permitted under other Sections of this Article 6 (Incurrence of Additional Senior Debt).
(d) Additional Senior Debt under this Article 6 (Incurrence of Additional Senior Debt) may be incurred under this Agreement and/or any other Senior Debt Instrument.
Permitted Senior Debt. There occurs an “Event of Default” (or any comparable term) under, and as defined in, any Permitted Senior Debt Document, or a default or breach occurs under any intercreditor agreement entered into by the Collateral Agent with respect thereto;
Permitted Senior Debt. 62 Section 7.04.
Permitted Senior Debt. On and after the Investment Grade Rating Date, the Borrower will not (i) create, incur, assume or suffer to exist any Indebtedness (other than Loans hereunder) unless at the time of the incurrence thereof and after giving effect thereto (x) the Borrower shall be in compliance with Section 5.01 and (y) no Default or Event of Default shall have occurred and be continuing or (ii) permit its Subsidiaries to, create, incur, assume or suffer any Indebtedness (other than guarantees of the Extensions of Credit hereunder), except (x) Indebtedness in an aggregate amount not to exceed, at any one time outstanding as of the date such Indebtedness is incurred, not to exceed the lesser of (A) 20% of Consolidated Net Tangible Assets less, if the Loans, LC Exposure and other obligations under this Agreement have not been secured as contemplated under Section 6.02(n), the amount of Indebtedness secured under Section 6.02(n) and (B) 15% of Consolidated Net Tangible Assets and (y)
Permitted Senior Debt. The Agent and Lenders acknowledge and agree that Borrower entered into the Loan and Security Agreement dated as of March 8, 2013, as amended by that certain First Amendment to Loan and Security Agreement dated as of October 18, 2013, that certain Consent and Second Amendment to Loan and Security Agreement dated as of February 20, 2014, and that certain Third Amendment to Loan and Security Agreement dated as of December 16, 2014 (as may be further amended or otherwise modified), between Lead Borrower and City National Bank (as such Person may be replaced, the “Senior Lender”), pursuant to which Borrower incurred a secured senior revolving facility, ACH line facility and term loan (as such revolving facility, ACH line facility and term loan may be extended, modified, refinanced or renewed, the “Senior Debt”) in an amount not to exceed Twenty-Seven Million Two Hundred Thousand Dollars $27,200,000 ($20,000,000 of which is the revolving facility), which Senior Debt is subject to a certain Subordination Agreement dated February 20, 2014, by and between the Senior Lender and Agent, as amended by that certain First Amendment to Subordination Agreement dated December 16, 2014 (as further amended from time to time, the “Intercreditor Agreement”). Such Senior Debt shall be secured only by the “Collateral” as such term is defined and used in the Intercreditor Agreement.” 2.
Permitted Senior Debt. (i) As soon as practicable after the finalization thereof (and execution, if applicable), copies of the offering memorandum, indenture and any other material documents reasonably requested by Administrative Agent with respect to the Permitted Senior Debt issued by the Loan Parties.
(ii) Copies of all reports, notices and other information furnished to the “Agent” (as defined in the Existing Note Purchase Agreement) or any Holder (as defined in the Existing Note Purchase Agreement) under the Existing Note Purchase Agreement in connection with or required by the Existing Note Purchase Agreement or any other documents executed in connection with the Existing Note Purchase Agreement, as and when such reports, notices and other information are so furnished (without duplicating any such reports, notices or information that are otherwise required to be provided pursuant to this Agreement); and
(iii) Copies of all reports, notices and other information furnished to the agent or any other holder under any Permitted Senior Debt in connection with or required by any Permitted Senior Debt or any other documents executed in connection with any Permitted Senior Debt, as and when such reports, notices and other information are so furnished (without duplicating any such reports, notices or information that are otherwise required to be provided pursuant to this Agreement).
Permitted Senior Debt. If the consummation of the transactions contemplated hereunder and by the other Transaction Documents trigger an event of default under the Term Note or the Revolving Note, the Company shall have sixty (60) days from the date of such default to refinance such Debt with a debt facility which will be sufficient to replace and satisfy such Debt in its entirety, including but not limited to outstanding principal, accrued interest, default penalties and any other payments thereunder.
Permitted Senior Debt. On and after the Investment Grade Rating Date, the Borrower will not (i) create, incur, assume or suffer to exist any Indebtedness (other than Loans hereunder) unless at the time of the incurrence
