Synthetic Lease Obligation. the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
Appears in 12 contracts
Samples: Loan, Guaranty and Security Agreement (Turtle Beach Corp), Loan and Security Agreement (Innerworkings Inc), Loan and Security Agreement (Innerworkings Inc)
Synthetic Lease Obligation. the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax Tax retention lease, or (b) an agreement for the use or possession of property (including sale and leaseback transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy application of the any debtor relief laws to such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
Appears in 4 contracts
Samples: Guaranty and Security Agreement (Guess Inc), Loan, Guaranty and Security Agreement (Guess Inc), Guaranty and Security Agreement (Guess Inc)
Synthetic Lease Obligation. the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property Property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
Appears in 3 contracts
Samples: Credit Agreement (Calumet Specialty Products Partners, L.P.), Credit Agreement (Calumet Specialty Products Partners, L.P.), Credit Agreement (Calumet Specialty Products Partners, L.P.)
Synthetic Lease Obligation. the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, lease or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
Appears in 1 contract
Samples: Credit Agreement (Enfusion, Inc.)
Synthetic Lease Obligation. the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property Property (including sale and leaseback transactions), in each case creating obligations that do not appear on the balance sheet of such Person prepared as of such date in accordance with GAAP but which, upon the insolvency application of any Insolvency Proceeding to such Person or bankruptcy of such Personits Property, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
Appears in 1 contract
Samples: Loan and Security Agreement (Imperial Sugar Co /New/)
Synthetic Lease Obligation. the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property (including sale and leaseback transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of in any Insolvency Proceeding related to such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).
Appears in 1 contract
Samples: Guaranty and Security Agreement (BIG 5 SPORTING GOODS Corp)
