Senior Secured Indebtedness Sample Clauses

Senior Secured Indebtedness. No fewer than five Business Days prior to the voluntary prepayment of, voluntary redemption of, voluntary repurchase of, or voluntary purchase of a participation in, any Senior Secured Indebtedness (other than the Securities), the Company shall provide the Trustee with a notice of prepayment of Securities in a principal amount equal to the product of (i) the Prior Prepayment Percentage multiplied by (ii) the principal amount of such prepayment, redemption, repurchase, or purchase of a participation.
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Senior Secured Indebtedness. The Obligations constitute Indebtedness that is permitted to be secured by a “Permitted Lien” under and as defined in, the KWI Note Indentures as in effect on the Closing Date.
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Senior Secured Indebtedness any Indebtedness outstanding on the Issue Date (including, without limitation, the Bridge Loan) and any Refinancing Indebtedness Incurred in respect of any Indebtedness described in this clause (a);
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Senior Secured Indebtedness. 15 (i)+(ii)+(iii)+(iv) $ (i) aggregate principal amount of Indebtedness of the Borrower and the Restricted Subsidiaries outstanding as of such date that is secured by any Lien on any asset of the Borrower or any Restricted Subsidiary,16 in the amount that would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP (but without giving effect to any other accounting principle that results in the amount of any such Indebtedness (other than zero coupon Indebtedness) as reflected on such balance sheet to be below the stated principal amount of such Indebtedness $ (ii) aggregate amount of Capitalized Lease Obligations and Synthetic Lease Obligations of the Borrower and the Restricted Subsidiaries outstanding as of such date,17 determined on a consolidated basis: $ 13 Item to be set forth without duplication and to the extent not deducted in determining such Consolidated Net Income. 14 Items to be set forth without duplication and to the extent included in determining Consolidated Net Income. Determined on a consolidated basis in accordance with GAAP. 15 Items to be set forth without duplication. Determined on a consolidated basis in accordance with GAAP. 16 Other than Indebtedness of any Foreign Subsidiary that is secured by a Lien only on assets of one or more Foreign Subsidiaries.
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Senior Secured Indebtedness amend the definition of Senior Secured Indebtedness in Annex I to delete and replace the reference to “First Priority Lien” with “First-Priority Lien”.
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Senior Secured Indebtedness. The Obligations constitute the direct and unconditional senior secured obligations of each Loan Party and rank pari passu in right of payment with all existing and future senior indebtedness of, and senior in right of payment to any existing and future Subordinated Indebtedness of, each Loan Party.
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Senior Secured Indebtedness. The excess of (A) (i.e. (i)+(ii)+(iii)) over (B) = $[ , , ]
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Senior Secured Indebtedness. Each of the Noteholders hereby agrees for itself and for its successors and assigns that the Note Party Obligations are, to the extent and in the manner set forth in this Article VII, expressly subordinated and junior in right of payment to the prior payment in full of any Senior Secured Indebtedness incurred by a Note Party, provided, the Note Party Obligations shall not be subordinated and junior in right of payment to (and Section 7.3 shall not apply to) any Senior Secured Indebtedness of the Company that is not secured by a Lien on all or substantially all of the assets of the Company.
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Senior Secured Indebtedness. As of February 28, 2017, ExWorks Capital Fund I, L.P. provided a $7,800,000 Senior Secured Debt facility to the Company and each of the members of the THC Group, as borrowers. Outstanding principal indebtedness under the ExWorks Loan Agreement will accrue interest at a rate of 15% per annum. Under the terms of the THC Purchase Agreement, the Company financed (i) a portion of the closing cash payment, (ii) retired $1,200,000 in principal indebtedness owed by THC and the Subsidiaries of THC to Patriot Bank and (iii) applied the balance for working capital of THC and the Subsidiaries of THC. The Senior Secured Debt is secured by a continuing security interest and lien in all presently existing or hereafter acquired collateral of THC and the Subsidiaries of THC to secure prompt repayment of all obligations under the Senior Secured Debt. The obligation to pay outstanding principal and interest to ExWorks under the ExWorks Loan Agreement is due and payable on February 28, 2018. On August 7, Exworks granted the Company an option, exercisable by it at any time on or before January 29, 2018, to extend the maturity date of the ExWorks loan to August 28, 2018. If the Company elects to exercise the option, it will be obligated to pay ExWorks an additional fee (excluding the $1.2 million fee provided for in the ExWorks loan agreement) of $600,000 and issue a second warrant to ExWorks to purchase shares of Class A Common Stock, in an amount representing 1.375% of Company fully-diluted Common Stock, and at an exercise price of $0.01 per share As of August 31, 2017, there was $7,800,000 outstanding in principal indebtedness under the Senior Secured Debt. On or before September 29, 2017, ExWorks and the Company agreed to enter into amendment 2 to the ExWorks Loan Agreement pursuant to which ExWorks agreed to loan up to an additional $3.700,000 to the Company, thereby increasing the outstanding principal amount of the Indebtedness owed to ExWorks to as much as $11,500,000. An initial advance of not less than 2,700,000 will be made on date of execution of the amendment and the balance is to be advanced at ExWork’s discretion. The parties agreed to restate the existing note by issuing to ExWorks a maximum $11,500,000 note that is due and payable on February 28, 2018, subject to extension as set forth above. The note is convertible at any time prior to the maturity date at the option of ExWorks into Class A Common Stock of the Company or upon consummation of the Merger (whethe...
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Related to Senior Secured Indebtedness

  • Secured Indebtedness The Borrower shall not permit the ratio of (i) Secured Indebtedness of the Borrower and its Subsidiaries to (ii) Total Asset Value to be greater than 0.40 to 1.00 at any time.

  • Subordinated Indebtedness The Obligations constitute senior indebtedness which is entitled to the benefits of the subordination provisions of all outstanding Subordinated Indebtedness.

  • Senior Secured Leverage Ratio The Borrower shall not permit the Senior Secured Leverage Ratio at the end of any Fiscal Quarter set forth below to be greater than the ratio set forth below opposite such Fiscal Quarter: Fiscal Quarter Ending Maximum Senior Secured Leverage Ratio September 30, 2017 4.75 to 1.00 December 31, 2017 4.25 to 1.00 March 31, 2018 3.75 to 1.00 June 30, 2018 3.25 to 1.00 September 30, 2018 and each Fiscal Quarter thereafter 3.00 to 1.00 (v) Section 8.01(e) of the Credit Agreement is hereby amended to read as follows:

  • Investments; Indebtedness PNU shall not, and shall not permit any of its Subsidiaries to, other than in connection with actions permitted by Section 4.1(e), (i) make any loans, advances or capital contributions to, or investments in, any other Person, other than (x) by PNU or a direct or indirect wholly owned Subsidiary of PNU to or in PNU or any direct or indirect wholly owned Subsidiary of PNU, (y) pursuant to any contract or other legal obligation of PNU or any of its Subsidiaries as in effect at the date of this Agreement or (z) in the ordinary course of business consistent with past practice in an aggregate amount not in excess of the aggregate amount specified in Section 4.1(g) of the PNU Disclosure Schedule or (ii) create, incur, assume or suffer to exist any indebtedness, issuances of debt securities, guarantees, loans or advances not in existence as of the date of this Agreement except pursuant to the credit facilities, indentures (but not in excess of amounts authorized for issuance thereunder as of the date of this Agreement) and other arrangements in existence on the date of this Agreement or trade debt and commercial finance in the ordinary course of business consistent with past practice, in each case as such credit facilities, indentures and other arrangements and other existing indebtedness may be amended, extended, modified, refunded, renewed or refinanced after the date of this Agreement which does not increase the aggregate principal amount or amount of the facility, as the case may be.

  • Additional Indebtedness This Indenture does not restrict the Corporation from incurring additional indebtedness for borrowed money or other obligations or liabilities (including Senior Indebtedness) or mortgaging, pledging or charging its properties to secure any indebtedness or obligations or liabilities.

  • Permitted Indebtedness Neither the Company nor any Subsidiary ---------------------- will create, incur or assume any Indebtedness other than: (a) Indebtedness represented by or incurred under the Notes and the Purchase Agreement and the Revolving Credit Facility; (b) Indebtedness incurred to prepay or repay in full the remaining outstanding principal amount of Notes and all other amounts due thereon or under the Purchase Agreement; (c) Indebtedness existing on the Closing Date and identified on the Disclosure Schedule; (d) Indebtedness incurred solely as an extension, renewal, refinancing or replacement of Indebtedness of the Company or of its Subsidiaries under clause (iii) above (but excluding any Indebtedness under clause (iii) above to the extent such Indebtedness is repaid with the proceeds from the sale of the Notes and Warrants), provided that any such extension, renewal or refinancing (A) shall be on terms which on balance are substantially as favorable to the Company (or the relevant Subsidiary) as the terms of such existing Indebtedness (other than changes in the amount of the interest rate and other than the imposition of additional Liens permitted by Section 9.10(f) hereof) and (B) shall not be in a greater principal amount or have a shorter average life or earlier maturity than such existing Indebtedness; (e) Indebtedness in an aggregate principal amount outstanding not exceeding $20,000,000 incurred solely to finance the purchase price of additional towers and related facilities and equipment; (f) Interest Rate Protection Agreements required by the Revolving Credit Facility or incurred for hedging purposes in the ordinary course of business; and (g) Additional Indebtedness in an amount which , together with sale and leaseback obligations permitted under Section 9.11, does not exceed $2,000,000.

  • Indebtedness Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness.

  • Consolidated Senior Secured Leverage Ratio As of any fiscal quarter end, permit the Consolidated Senior Secured Leverage Ratio to be greater than 1.25 to 1.00.

  • Guaranteed Indebtedness No Credit Party shall create, incur, assume or permit to exist any Guaranteed Indebtedness except (a) by endorsement of instruments or items of payment for deposit to the general account of any Credit Party, and (b) for Guaranteed Indebtedness incurred for the benefit of any other Credit Party if the primary obligation is expressly permitted by this Agreement.

  • Secured Debt Create or suffer to exist, or permit any of its Restricted Subsidiaries to create or suffer to exist, any Debt secured by a Lien on (i) any Principal Property, (ii) any shares of stock of a Restricted Subsidiary or (iii) any Debt of any Restricted Subsidiary unless the Company or such Restricted Subsidiary secures or causes such Restricted Subsidiary to secure the Advances and all other amounts payable under this Agreement and the Notes equally and ratably with such secured Debt, so long as such secured Debt shall be so secured, unless after giving effect thereto the aggregate amount of all such Debt so secured does not exceed 15% of Consolidated Net Tangible Assets at such time, provided that the foregoing restriction does not apply to Debt secured by: (i) Liens existing prior to the date hereof; (ii) Liens on property of, or on shares of stock of or Debt of, any corporation existing at the time such corporation becomes a Restricted Subsidiary; (iii) Liens in favor of the Company or any Restricted Subsidiary; (iv) Liens in favor of any governmental bodies to secure progress or advance payments; (v) Liens on property, shares of stock or Debt existing at the time of acquisition thereof (including acquisition through merger or consolidation) or to secure the payment of all or any part of the purchase price thereof or construction thereon or to secure any Debt incurred prior to, at the time of, or within 120 days after the later of the acquisition, the completion of construction, or the commencement of full operation of such property or within 120 days after the acquisition of such shares or Debt for the purpose of financing all or any part of the purchase price thereof or construction thereon; and (vi) any extension, renewal or refunding referred to in the foregoing clauses (i) to (v)

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