Term Debt. (a) Borrowers have furnished Agent a true, correct and complete copy of each of the Term Debt Documents. The Liens securing the Term Debt and the guarantees of the Term Debt shall, in each case, be subject to the terms of the Intercreditor Agreement.
Term Debt. (f) Debt evidencing a refunding, renewal or extension of the Debt referred to in clauses (d) or (e) of this Section 9.11; provided, that (i) the principal amount thereof is not increased, (ii) the Liens, if any, securing such refunded, renewed or extended Debt do not attach to any assets in addition to those assets, if any, securing the Debt to be refunded, renewed or extended, (iii) no Person that is not an obligor or guarantor of such Debt as of the Closing Date shall become an obligor or guarantor thereof and (iv) the covenants, repayment provisions, events of default and subordination provisions, if any, of such refunding, renewal or extension are no less favorable to the applicable Loan Party, the Agent or the Lenders than the original Debt;
Term Debt except (i) mandatory prepayments based on Excess Cash Flow (as defined in the Term Loan Agreement) to the extent required to be paid pursuant to Section 5.2.2(a) of the Term Loan Agreement, but only to the extent the Payment Conditions have been satisfied (and a Senior Officer of Borrower shall certify to Lender, not less than five Business Days prior to the date of payment, that all Payment Conditions have been satisfied; provided that, failure to provide such notice shall not result in an Event of Default), (ii) regularly scheduled payments of principal and interest on the Term Debt, (iii) fees and expenses payable to Term Agent and Term Lenders, (iv) mandatory prepayments based on “Equity Cure Contributions” (as defined in the Term Loan Agreement) to the extent required to be paid pursuant to Section 5.2.2(f) of the Term Loan Agreement, but only to the extent such “Equity Cure Contributions” are not Equity Cure Contributions pursuant to Section 9.3.2 of this Agreement, the proceeds of which are required to be applied to prepay outstanding principal under the Revolving Loan pursuant to Section 9.3.2 of this Agreement; and (v) other payments to the extent expressly permitted in the Intercreditor Agreement (including payments made pursuant to Section 4 of the Intercreditor Agreement); (c) the earn out payments owing pursuant to the Acquisition Agreement if at the time of such payment, the Payment Conditions are satisfied (and a Senior Officer of Borrower shall certify to Lender, not less than five Business Days prior to the date of payment, that all Payment Conditions have been satisfied; provided that, failure to provide such notice shall not result in an Event of Default), or (d) subject to clauses (a) and (b) above, any Borrowed Money (other than the Obligations) prior to its due date under the agreements evidencing such Debt as in effect on the Closing Date (or as amended thereafter with the written consent of Lender).
Term Debt. (a) KKR Americas XII and WBA acknowledge that (i) pursuant to the senior credit facilities of PharMerica entered into at the Closing (together with any additional or replacement credit facilities entered into by PharMerica or its Subsidiaries after the Closing in accordance with the terms of this Agreement, the “Senior Credit Facility”), KKR Americas XII and WBA, collectively, are subject to a limit on purchases of the term loans thereunder (the “Term Debt”) of 30% of the total outstanding Term Debt (such limitation, together with any analogous limitation under any documentation governing any Senior Credit Facility entered into after the Closing, the “Term Debt Limit”), and that KKR Capital Markets LLC and other debt funds managed or advised by Kohlberg Kravis Xxxxxxx & Co. L.P. or any of its Affiliates (collectively, “KKR Debt Fund Affiliates”, which, for the avoidance of doubt, shall not be deemed to include any KKR Portfolio Company) are not subject to this limitation under the terms of the Senior Credit Facility, and (ii) pursuant to Kohlberg Kravis Xxxxxxx & Co. L.P.’s internal investment policy, KKR Debt Fund Affiliates, collectively, are subject to a limit on purchases of the Term Debt of 20% of the total outstanding Term Debt. KKR Americas XII and WBA are hereby agreeing to certain principles with respect to the acquisition of Term Debt by them and their Subsidiaries or certain of their Affiliates so that, to the extent any such parties purchase any Term Debt, KKR Americas XII (together with the KKR Debt Fund Affiliates), on the one hand, and the Walgreens Stockholder and its Subsidiaries, on the other hand, are able to acquire such Term Debt pro rata to their respective then Beneficial Ownership of Shares by the KKR Stockholders and the Walgreens Stockholders (the “Pro Rata Equity Holding”) while complying with the Term Debt Limit, as follows:
Term Debt. Unsecured Short-Term Debt, with the exception of lines of credit, may be incurred without prior written approval of HUD if the Borrower can demonstrate, and the chief financial officer or the chief executive officer of Borrower certifies to HUD in writing prior to incurring the additional indebtedness, that: Total Short-Term Debt for the current fiscal year will not exceed five percent (5%) of the average Adjusted Operating Revenue for the three (3) most recent fiscal years based on audited financial statements; The combined debt service payments for all Long-Term Debt and Short-Term Debt in the current fiscal year is not projected to exceed 10 percent (10%) of the average Adjusted Operating Revenue for the three (3) most recent fiscal years based on audited financial statements; MRF funding is current; and No condition of default exists under this Agreement or under any other agreement entered in connection with any Short-Term Debt or Long-Term Debt. Line of Credit Long-Term or Short-Term Debt in the form of a line of credit (“LOC”) is only permitted with prior written approval of HUD pursuant to the following: The LOC may not have a limit exceeding fifteen (15) days of Adjusted Operating Expenses, as reflected on the Most Recent Audited Financial Statements; The LOC may be secured by Patient Accounts Receivable, subject to consent by the Lender and HUD. The total amount of the Patient Accounts Receivable used to secure the - LOC cannot be greater than 150 percent (150%) of the LOC. Total Short-Term Debt for the current fiscal year will not exceed five percent (5%) of the average Adjusted Operating Revenue for the three (3) most recent fiscal years based on audited financial statements; The combined debt service payments for all Long-Term Debt and Short-Term Debt in the current fiscal year is not projected to exceed 10 percent (10%) of the average Adjusted Operating Revenue for the three (3) most recent fiscal years based on audited financial statements; MRF funding is current; No condition of default exists under this Agreement or under any other agreement entered in connection with any Short-Term Debt or Long-Term Debt. For all Debt that is secured by Xxxxxxxx’s Patient Accounts Receivable, Borrower must obtain an intercreditor agreement executed by Xxxxxxxx, Xxxxxx and the LOC lender, which shall be approved by HUD.
Term Debt. 49 THIS LOAN AND SECURITY AGREEMENT is made as of this 30th day of September, 1999, by and between NORTHWESTERN STEEL AND WIRE COMPANY, an Illinois corporation, with its chief executive office and principal place of business at 121 Xxxxxxx Xxxxxx, P.O. Box 618, Sterling, Illinois 61081; the lenders who are signatories hereto ("Lenders"); and FLEET CAPITAL CORPORATION ("FCC"), a Rhode Island corporation with an office at One Xxxxx Xxxxxx Xxxxx, Suite 1400, Chicago, Illinois 60606, as agent for Lenders hereunder ("FCC", in such capacity, being "Agent"). Capitalized terms used in this Agreement have the meanings assigned to them in Appendix A, General Definitions. Accounting terms not otherwise specifically defined herein shall be construed in accordance with GAAP consistently applied.
Term Debt. A term debt or term loan facility, allows the borrower to borrow up to a specified amount of money over an availability period. The loan may be repaid in instalments ("amortizing") or through one payment at the end of the facility ("bullet" repayment). The best example of a term debt is a mortgage. Once paid, the term debt cannot be re-borrowed. The borrower will have to pay certain fees for the money committed by the lender, but not borrowed.
Term Debt. Agent and Lenders acknowledge that Borrower contemplates raising additional funds by issuing certain first senior mortgage notes or other long term debt ("Term Debt"), during the Original Term, for the purpose to construct a new, more efficient, low cost mill (the "New Mill") to replace certain of Borrower's existing rolling mill capacity at its Sterling, Illinois facility, and to repay or restructure certain outstanding senior unsecured debt. If Agent and Required Lenders are satisfied, in the exercise of their reasonable discretion, with the terms and conditions of such Term Debt, including without limitation, interest rates and fees payable thereon, assets pledged to secure the repayment thereof, intercreditor agreements between Agent, Lenders and the holders of such Term Debt, amortization schedules, covenants and events of default, Agent and Lenders shall release such Liens on that portion of Borrower's plants, real Property and/or Equipment (the "Term Debt Property") as required by the holders of such Term Debt to secure the Term Debt, upon execution of documents and agreements (including, without limitation,
Term Debt. As of the date of this Agreement, the Borrowers have delivered to Agent a complete and correct copy of the Term Indebtedness Documents (including all schedules, exhibits, amendments, supplements, modifications, assignments and all other documents delivered pursuant thereto or in connection therewith).
Term Debt. Borrowers will repay in full a) to Bank that certain term loan having a maturity date of March 31, 1998 and a principal balance outstanding as of the date of this Agreement of Two Million Two Hundred Fifty Thousand Dollars ($2,250,000); b) to Seacoast the subordinated notes totaling Three Million Five Hundred Thousand Dollars ($3,500,000); maturing June 30, 1998; c) to various sellers the subordinated notes totaling Three Million One Hundred Fifty Six Thousand Five Hundred and Forty Eight Dollars ($3,156,548), maturing on June 30, 1998; and d) to Xxxxxxx Xxxxx all term notes outstanding.
