PREPAYMENT OF SECOND LIEN DEBT Sample Clauses

PREPAYMENT OF SECOND LIEN DEBT. Notwithstanding the terms of any Second Lien Loan Document, the Borrower will not, and will not permit any of its Subsidiaries to make any redemption, repurchase or optional prepayment of Second Lien Debt (or any p...
Sample 1
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PREPAYMENT OF SECOND LIEN DEBT. No Borrower Party shall (a) voluntarily prepay, in whole or in part, the Second Lien Facility or the Permitted Second Lien Refinancing Facility or (b) make any mandatory prepayment of the Second Lien Facility or the Permitted Second Lien Refinancing Facility except and to the extent required by the Second Lien Credit Agreement or the Permitted Second Lien Refinancing Credit Agreement, in each case, until the Discharge of First Lien Secured Obligations; provided however, that (i) in the case of clause (a), the Borrower Parties may make such prepayments with the proceeds of a Permitted Second Lien Refinancing Facility and (ii) in the case of each of clauses (a) and (b), the Borrower Parties may make such prepayments (x) in lieu of a Restricted Payment if the Restricted Payment Conditions have been met with respect to such amounts or (y) in an amount not to exceed the aggregate amount permitted to be paid or distributed pursuant to Section 6.6.2. For the sake of clarity, the Co-Borrowers may pay, as and when due and payable, non-accelerated payments of interest and principal on account of the Second Lien Facility or the Permitted Second Lien Refinancing Facility pursuant to and in accordance with the Second Lien Credit Agreement, as in effect on the Closing Date or as amended in a manner permitted by the Intercreditor Agreement or the Permitted Second Lien Refinancing Credit Agreement, as in effect on the date entered into or as amended in a manner permitted by the Intercreditor Agreement and subject in all cases to the provisions of Section 3.2(b) of the Depositary Agreement.
Sample 1

Related to PREPAYMENT OF SECOND LIEN DEBT

  • Prepayment of Debt Make any prepayment (whether optional or mandatory), repurchase, redemption, defeasance or any other payment in respect of any Subordinated Debt.

  • Prepayment of Indebtedness At any time, directly or indirectly, prepay any Indebtedness (other than to Lenders), or repurchase, redeem, retire or otherwise acquire any Indebtedness of any Borrower.

  • Prepayment of Other Indebtedness, Etc (a) Amend or modify any of the terms of any Indebtedness of any Loan Party or any Subsidiary (other than Indebtedness arising under the Loan Documents) if such amendment or modification would add or change any terms in a manner adverse to any Loan Party or any Subsidiary, or shorten the final maturity or average life to maturity or require any payment to be made sooner than originally scheduled or increase the interest rate applicable thereto.

  • Prepayment of Notes No prepayment of the Notes may be made except to the extent and in the manner expressly provided in this Agreement.

  • Prepayments, Etc. of Indebtedness (a) None of the Covenant Parties shall, nor shall they permit any of their Restricted Subsidiaries to, directly or indirectly, prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner (it being understood that payments of regularly scheduled interest shall be permitted) the Senior Subordinated Debt, any subordinated Indebtedness incurred under Section 7.03(g) or any other Indebtedness that is required to be subordinated to the Obligations pursuant to the terms of the Loan Documents, but excluding any Existing Indebtedness or Outstanding Indebtedness (collectively, “Junior Financing”) or make any payment in violation of any subordination terms of any Junior Financing Documentation, except (i) the refinancing thereof with the Net Proceeds of any Indebtedness (to the extent such Indebtedness constitutes a Permitted Refinancing and, if such Indebtedness was originally incurred under Section 7.03(g), is permitted pursuant to Section 7.03(g)), to the extent not required to prepay any Loans pursuant to Section 2.05(b), (ii) the conversion of any Junior Financing to Equity Interests (other than Disqualified Equity Interests) of the Company or any of its direct or indirect parents, (iii) the prepayment of Indebtedness of any Covenant Party or any Restricted Subsidiary of a Covenant Party to the extent permitted by the Collateral Documents, (iv) any payments in respect of Senior Subordinated Debt constituting bridge loans with the proceeds of any other Junior Financing and (v) prepayments, redemptions, purchases, defeasances and other payments in respect of Junior Financings prior to their scheduled maturity in an aggregate amount not to exceed $250,000,000 plus, if the Total Leverage Ratio calculated on a Pro Forma Basis is less than or equal to 7.00 to 1.00, the portion, if any, of the Cumulative Credit on such date that Xxxxxxx elects to apply to this paragraph, such election to be specified in a written notice of a Responsible Officer of Xxxxxxx calculating in reasonable detail the amount of Cumulative Credit immediately prior to such election and the amount thereof elected to be so applied.

  • Repayment of Debt Upon the terms and subject to the conditions set forth herein, substantially concurrent with the execution and delivery of this Agreement by the parties hereto, the Company agrees to sell, and the Creditors, severally and not jointly, agree to cancel the Debt, up to an aggregate of $124,184.26 as the payment for the Shares at a price of $0.460829 per share. Each Creditor’s Debt Cancellation Amount as set forth on the signature page hereto executed by such Creditor shall be settled for “Delivery Versus Payment” with the Company. The Company shall deliver the Shares to the Creditors as the repayment of Debt within 30 days of this Agreement.

  • Repayment of Notes Each of the parties hereto agrees that all repayments of the Notes (including any accrued interest thereon) by the Company (other than by conversion of the Notes) will be paid pro rata to the holders thereof based upon the principal amount then outstanding to each of such holders.

  • Repayment of Indebtedness Except as disclosed in the Registration Statement and the Prospectus, the Company does not intend to use any of the proceeds from the sale of the Shares to repay any debt owed to the Sales Agent or the Forward Seller or any affiliate thereof.

  • Repayment of Loans; Evidence of Indebtedness (a) The Borrower hereby unconditionally promises to pay (i) to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date and (ii) to the Administrative Agent for the account of each Lender that shall have made any Competitive Loan the then unpaid principal amount of each Competitive Loan of such Lender on the last day of the Interest Period applicable to such Loan.

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