Restructuring of Indebtedness Sample Clauses

Restructuring of Indebtedness. Contemporaneous with the closing of the Holdings IPO and use of the proceeds therefrom in accordance with Section 3.4, the TCP Purchasers, the Mezzanine Purchasers, KSI and KGI will enter into the following agreements, pursuant to which KSI will assume certain indebtedness of Holdings in consideration for the receipt of certain common stock of Holdings, and Holdings will be released from any obligations in respect of such assumed indebtedness:
Sample 1
AutoNDA by SimpleDocs
Restructuring of Indebtedness. Rapid Link shall have obtained the reduction of the aggregate amounts outstanding under certain senior notes due to Laurus Master Fund, Ltd. and its affiliates including, without limitation, Valens U.S. SPV I, LLC, Valens Offshore SPV II Corp. and LV Administrative Services, Inc. (collectively, “Laurus”) to the amounts set forth in Section 5.8 within 45 days of the date of this Agreement on terms and conditions reasonable and customary in the industry.
Sample 1
Restructuring of Indebtedness. As consideration for the restructuring of the Indebtedness, PICK and PICKNET agree as follows:
Sample 1
Restructuring of Indebtedness. 2.1 Subject to and in accordance with the terms and conditions of this Agreement, MFC and Druxxxxx xxreby covenant and agree with each other to reduce the interest rate payable on the Indebtedness from 8.75% per annum to 5.00% per annum and MFC and Druxxxxx xxrther covenant and agree to secure the Indebtedness by way of a general security agreement and securities pledge agreement.
Sample 1
Restructuring of Indebtedness. The Indebtedness due and owing to the Seller pursuant to the Notes is hereby restructured and quantified as follows:
Sample 1
Restructuring of Indebtedness. 25 1.2 Assignment and Assumption; Third Closing Loans . . . . . . . . . . . . . . . . . . . . . . 26 1.3 Dating and Registration of Notes; Transfer of Third Closing Loans . . . . . . . . . . . . 27 1.4
Sample 1
Restructuring of Indebtedness. The Prior Credit Agreement is hereby amended and restated in its entirety as hereinafter set forth effective on the date hereof (the "Third Closing Date"). Without limiting the generality of the foregoing, the provisions of this Agreement shall supersede any and all covenants, conditions or other provisions of the Loan Documents or the Intercompany Loan Documents executed and delivered on or prior to the date hereof that conflict with or are inconsistent with the provisions of this Agreement. However, nothing in this Agreement is intended or shall be deemed to waive, limit or otherwise modify or affect any representation, warranty, covenant, condition or other provision of the Prior Credit Agreement or of any other Loan Document or Intercompany Loan Document executed and delivered prior to the Third Closing Date to the extent that such representation, warranty, covenant, condition or other provision relates to a fact, circumstance or event occurring prior to the Third Closing Date.
Sample 1
AutoNDA by SimpleDocs
Restructuring of Indebtedness. On or prior to the Closing Date, Rapid Link shall have obtained the reduction of the aggregate amount owing by Rapid Link under certain senior secured notes due to the Laurus Creditors to a maximum principal amount of $1,250,000 (the “Rapid Link Debt”). Following the Closing, such Rapid Link Debt shall be secured by a security interest in the assets of Rapid Link and Mr. Prepaid subordinate to the security interest related to the Hxxxxx Notes described in Section 4.16, above.
Sample 1
Restructuring of Indebtedness. MFC confirms to the Participating Directors that it intends to seek to try to effect a restructuring of Cybernet's indebtedness substantially upon the terms as set forth in its draft presentation to the Board dated December 2001, provided that nothing herein shall in any way constitute a representation, warranty or guarantee by MFC or any of its officers, directors, agents or representatives that any such proposed restructuring will be successfully effected.
Sample 1

Related to Restructuring of Indebtedness

  • 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.

  • Amendment, Etc. of Indebtedness Amend, modify or change in any manner any term or condition of any Indebtedness set forth in Schedule 7.02, except for any amendment, refinancing, refunding, renewal or extension thereof permitted by Section 7.02(e).

  • 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.

  • 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.

  • Incurrence of Indebtedness and Issuance of Disqualified Stock The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur” or an “incurrence”) any Indebtedness (including, without limitation, any Acquired Indebtedness) and that the Company will not issue any Disqualified Stock and will not permit any of its Restricted Subsidiaries to issue any shares of preferred stock or Disqualified Stock; provided, however, that the Company or any Guarantor may incur Indebtedness or issue Disqualified Stock, and any Restricted Subsidiary may incur Acquired Indebtedness, in each case if the Consolidated Interest Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock is issued would have been at least 3.00 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness or Disqualified Stock had been issued or incurred, as the case may be, at the beginning of such four-quarter period. The foregoing provisions shall not apply to the incurrence by the Company or any of its Restricted Subsidiaries of any of the following Indebtedness:

  • Incurrence of Indebtedness So long as this Note is outstanding, the Company shall not, and the Company shall not permit any of its Subsidiaries to, directly or indirectly, incur or guarantee, assume or suffer to exist any Indebtedness, other than Permitted Indebtedness.

  • Payment of Indebtedness Pledgor will pay the principal sum of the Note secured hereby, together with interest thereon, at the time and in the manner provided in the Note.

  • Evidence of Indebtedness (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such Lender, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.

  • Prepayments of Indebtedness Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner any Permitted Indebtedness (other than the Obligations or Indebtedness between Loan Parties), or make any payment in violation of any subordination terms of any Subordinated Indebtedness, except (a) as long as no Event of Default then exists or would arise therefrom, regularly scheduled or mandatory repayments, repurchases, redemptions, defeasances or other satisfaction of Permitted Indebtedness (other than Subordinated Indebtedness), (b) as long as no Event of Default has occurred and is continuing, voluntary prepayments, redemptions, repurchases, defeasances or other satisfaction of Permitted Indebtedness (but excluding any payment in violation of the subordination terms of any Subordinated Indebtedness) (i) in an amount less than $6,000,000 in the aggregate during the Availability Period as long as the Availability Condition is satisfied, or (ii) constituting intercompany Indebtedness owing by a Loan Party to any Subsidiary that is not a Loan Party so long as an amount equal to such amount prepaid, redeemed, purchased or otherwise satisfied is transferred to a Loan Party substantially concurrently with such prepayment, redemption, purchase or other satisfaction, (c) as long as no Event of Default then exists, repayments and prepayments of Subordinated Indebtedness in accordance with the subordination terms thereof, (d) voluntary prepayments, repurchases, redemptions, defeasances or other satisfaction of Permitted Indebtedness (but excluding on account of any Subordinated Indebtedness) as long as the Payment Conditions are satisfied, and (e) any Permitted Amendment/Refinancings of such Indebtedness.

  • Payments of Indebtedness Such Obligor will not, and will not permit any of its Subsidiaries to, make any payments in respect of any Indebtedness other than (i) payments of the Obligations, (ii) scheduled payments of other Indebtedness and (iii) repayment of intercompany Indebtedness permitted in reliance upon Section 9.01(f).

Time is Money Join Law Insider Premium to draft better contracts faster.