Senior Secured Debt. Permit the sum of (i) the aggregate outstanding amount of the Debt of Borrower and the Guarantors under this Agreement, the Notes, and/or the other Loan Documents, plus (ii) the aggregate outstanding amount of Debt of Borrower under the Insurance Company Loan Documents, to at any one time exceed One Hundred Ten Million ($110,000,000) Dollars.
Senior Secured Debt. Toronto Dominion (Texas), Inc. - Administrative Agent and Lender GE Capital Corp. - Lender Total Senior Secured Debt: $140,000,000 Senior Unsecured Notes: ---------------------- IPCS, Inc. will place Senior Unsecured Notes with Xxxxxxxxx, Lufkin & Xxxxxxxx Securities Corporation and TD Securities USA, Inc. on July 12, 2000, pursuant to Rule 144A, raising proceeds in the amount of $152,331,000. The proceeds will be immediately contributed or loaned to Manager.
Senior Secured Debt. The Obligations constitute “senior debt”, “senior indebtedness”, “guarantor senior debt”, “senior secured financing” and “designated senior indebtedness” (or any comparable term) under the documentation for all Indebtedness that is subordinated in right of payment to the Obligations or secured by a junior ranking Lien to the Lien securing the Obligations, as applicable.
Senior Secured Debt. Subject to (vi)(C), $350 million of the Existing Syndicate Debt will be restructured as senior secured debt (the "Senior Secured Debt"), in two tranches. One tranche will be $250 million of senior secured term debt (the "Senior Secured Term Debt") and the other tranche will be $100 million of secured convertible payment in kind debt ("Secured PIK Debt"). PSC shall have the right to prepay the Senior Secured Term Debt at any time provided that at the time of such prepayment PSC also pays all accrued and unpaid interest, fees and other amounts payable with respect to the amount prepaid, and any call premium payable under (iv) (C) below.
(i) BORROWERS: PSC as to the Secured PIK Debt and Philxx Services (Delaware) Inc. (the "US Borrower") as to the Senior Secured Term Debt.
Senior Secured Debt. The following definitions are hereby added to Section 1.1 of the Existing Credit Agreement in the appropriate alphabetical order and shall read as follows:
Senior Secured Debt. Borrower shall not enter into any debt facility that has a lien or security interest against any of the Collateral that is senior or pari pasu to the Lenders.
Senior Secured Debt. In relation to any Person at any time, the aggregate amount of Senior Debt that in each case is then secured, or intended to be secured, by Liens on property or assets of the Borrower or its Subsidiaries.” “Senior Secured Leverage Ratio. See § 8.3.”
Senior Secured Debt. Subject to (vi)(C), $350 million of the Existing Syndicate Debt will be restructured as senior secured debt (the "Senior Secured Debt"), in two tranches. One tranche will be $250 million of senior secured term debt (the "Senior Secured Term Debt") and the other tranche will be $100 million of secured convertible payment in kind debt ("Secured PIK Debt"). PSC shall have the right to prepay the Senior Secured Term Debt at any time provided that at the time of such prepayment PSC also pays all accrued and unpaid interest, fees and other amounts payable with respect to the amount prepaid, and any call premium payable under (iv) (C) below.
(i) BORROWERS: PSC as to the Secured PIK Debt and Philxx Services (Delaware) Inc. (the "US Borrower") as to the Senior Secured Term Debt.
(ii) SENIOR SECURED TERM DEBT: The terms of the Senior Secured Term Debt will be set forth in a restatement of the Existing Credit Agreement (the "Senior Term Credit Agreement") in form and substance satisfactory to the Lenders and PSC.
(A) AMOUNT: $250 million.
(B) INTEREST: 9% per annum. Interest on the Senior Secured Term Debt will be payable in cash, quarterly in arrears on the last business day of each calendar quarter; provided, however, that during the first 12 months subsequent to the effective date of the Plan (such effective date being "Plan Implementation"), the US Borrower shall pay interest on the Senior Secured Term Debt to the extent of the lesser of 9% per annum and $20,000,000, and accrue the balance thereof (subject to the mandatory prepayment obligations described below). Interest will also be payable at the time of repayment of any Senior Secured Term Debt and at maturity of such Senior Secured Term Debt. All interest calculations shall be based on a 360-day year and actual days elapsed. The Senior Term Credit Agreement shall include protective provisions for such matters as default interest, capital adequacy, increased costs, funding losses, illegality and withholding taxes.
(C) MATURITY: 5 years from Plan Implementation.
Senior Secured Debt. The Company is indebted to Xxxxxxx Business Credit Corporation ("Xxxxxxx Credit") in the amount of $819,203.83 (the "Senior Secured Debt") and upon the payment of such amount directly from the gross proceeds of the First Closing all of the outstanding obligations of the Company to Xxxxxxx Credit shall be paid in full.
Senior Secured Debt the total Indebtedness of the Borrower and the Subsidiaries that is secured by a Lien on that property or assets of the Borrower or the Subsidiaries: $[ ]
