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Subordinated Debt Issuance Sample Clauses

Subordinated Debt Issuance. Parent shall use its reasonable best efforts to enter into, prior to or as of the Closing, one or more definitive agreements, each of which will close contemporaneously with the Closing, whereby Parent will issue, at the Closing, an aggregate principal amount of at least $48,500,000 in subordinated debt that qualifies as Tier 2 capital.
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Subordinated Debt Issuance. The Company shall have delivered to each Noteholder a true and correct copy of an amendment to the Company's Securities Purchase Agreement, dated as of February 4, 1999 (as amended, the "SENIOR SUBORDINATED NOTE AGREEMENT"), pursuant to which it issued $35,000,000 in aggregate principal amount of its Senior Subordinated Notes Due February 4, 2004, which amendment shall be in form and substance satisfactory to each Noteholder, and pursuant to which the defined term "Consolidated EBITDA" therein contained shall have been amended substantially in conformity with the amendment to the term "Consolidated EBITDA" set forth in Section 4. No "Default" or "Event of Default" under, and as defined in, the Senior Subordinated Note Agreement shall exist on the Effective Date.
Sample 1
Subordinated Debt Issuance. If the Borrower or any Subsidiary (other than MK Gain) shall, at any time, issue any Indebtedness after the Closing Date which is subordinated in right of payment to the Obligations, is permitted under Section 7.05 and is otherwise on terms and conditions including, without limitation, subordination and standstill provisions acceptable to the Agent in its sole discretion, then the Borrower shall promptly notify the Agent of the estimated Net Issuance Proceeds of such issuance to be received by the Borrower in respect thereof. Promptly upon, and in no event later than 1 day after, receipt by the Borrower of Net Issuance Proceeds of such issuance, the Borrower shall prepay the Term Loan in an aggregate amount equal to the amount of such Net Issuance Proceeds, in the inverse order of maturity.
Sample 1
Subordinated Debt Issuance. 60 5.16 Syndication Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 Article 6
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Subordinated Debt Issuance. The Borrowers shall have received not less -------------------------- than $100,000,000 as proceeds of the issuance of the 1998 Subordinated Notes.
Sample 1
Subordinated Debt Issuance. 44 (c) Overadvances......................................44 (d) General...........................................44 (e) Reduction of Commitment...........................45 2.08 Repayment.....................................................45 --------- (a) The Term Credit...................................45 --------------- (b) The Revolving Credit..............................45 -------------------- 2.09 Interest......................................................46 2.10 Fees..........................................................46 (a) Arrangement, Agency Fees..............................46 (b)
Sample 1
Subordinated Debt Issuance. The Agents shall have received evidence satisfactory to each of them that (i) Mergerco shall have received not less than $140,000,000 from the Purchasers pursuant to the Holdco Equity Contribution, and not less than $95,000,000 in gross cash proceeds from the Discount Debentures Issuance, (ii) Thermadyne shall have made the Asset Contribution to the Company, (iii) the Closing Date Dividend and/or Intercompany Loan shall have been made and (iv) the Company shall have received not less than $207,000,000 in gross cash proceeds from the Subordinated Debt Issuance.
Sample 1
Subordinated Debt Issuance. Issue and sell, not later than August 15, 1998, for not less than $15,000,000 a debt security of Borrower that constitutes a Subordinated Obligation.
Sample 1

Related to Subordinated Debt Issuance

  • Debt Issuance Not later than one (1) Business Day following the receipt of any Net Cash Proceeds of any Debt Issuance by any Group Member (or concurrently with the receipt of Net Cash Proceeds of any Debt Issuance by any Group Member in connection with a refinancing facility under Section 2.22), the Borrower shall make prepayments in accordance with Section 2.10(i) and (j) in an aggregate principal amount equal to 100% of such Net Cash Proceeds.

  • Subordinated Debt (a) Make or permit any payment on any Subordinated Debt, except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof or adversely affect the subordination thereof to Obligations owed to Bank.

  • Debt Issuances Immediately upon receipt by any Loan Party or any Subsidiary of the Net Cash Proceeds of any Debt Issuance, the Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereafter provided in an aggregate amount equal to 100% of such Net Cash Proceeds.

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

  • Subordination of Junior Financing The Obligations are “Senior Debt,” “Senior Indebtedness,” “Guarantor Senior Debt” or “Senior Secured Financing” (or any comparable term) under, and as defined in, any Junior Financing Documentation.

  • 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.

  • Debt Due (a) If the LHIN requires the re-payment by the HSP of any Funding, the amount required will be deemed to be a debt owing to the Crown by the HSP. The LHIN may adjust future funding instalments to recover the amounts owed or may, at its discretion direct the HSP to pay the amount owing to the Crown and the HSP shall comply immediately with any such direction. (b) All amounts repayable to the Crown will be paid by cheque payable to the “Ontario Minister of Finance” and mailed or delivered to the LHIN at the address provided in section 13.1.

  • Equity Issuance Upon the sale or issuance by the Borrower or any of its Subsidiaries (other than a Financing Subsidiary) of any of its Equity Interests (other than any sales or issuances of Equity Interests to the Borrower or any Subsidiary Guarantor), the Borrower shall prepay an aggregate principal amount of Loans equal to 75% of all Net Cash Proceeds received therefrom no later than the fifth Business Day following the receipt of such Net Cash Proceeds (such prepayments to be applied as set forth in Section 2.09(b)).

  • Subordinated Notes The Subordinated Notes have been duly authorized by the Company and when executed by the Company and issued, delivered to and paid for by the Purchasers in accordance with the terms of the Agreement, will have been duly executed, authenticated, issued and delivered, and will constitute legal, valid and binding obligations of the Company and enforceable in accordance with their terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights generally or by general equitable principles.

  • Junior Financing Documentation (i) Any of the Obligations of the Loan Parties under the Loan Documents for any reason shall cease to be “Senior Indebtedness” (or any comparable term) or “Senior Secured Financing” (or any comparable term) under, and as defined in any Junior Financing Documentation or (ii) the subordination provisions set forth in any Junior Financing Documentation shall, in whole or in part, cease to be effective or cease to be legally valid, binding and enforceable against the holders of any Junior Financing, if applicable.

Most Referenced Clauses

Most Referenced Definitions