Acquired Subsidiary Debt definition
Acquired Subsidiary Debt means, with respect to any specified Person, (i) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Restricted Subsidiary of such specified Person, except to the extent such Indebtedness was incurred in connection with, or in contemplation of, such other Person merging with or into or becoming a Restricted Subsidiary of such specified Person, and (ii) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person, except to the extent such Lien was created or incurred in connection with, or in contemplation of, such acquisition.
Acquired Subsidiary Debt means all Indebtedness of any Person which becomes a Subsidiary after the date of Closing or is consolidated with or merged into a Subsidiary after the date of Closing and which (i) is outstanding on the date such Person becomes a Subsidiary or is consolidated with or merged into a Subsidiary and (ii) has not been (or is not being) incurred, extended or renewed in contemplation of such Person becoming a Subsidiary.
Acquired Subsidiary Debt means all Secured Debt of any Person which becomes a Subsidiary or is merged into the Company or a Subsidiary after the date of the Closing and which (a) is outstanding on the date such Person becomes a Subsidiary or is so merged (or such corporation is at such time contractually bound, in writing, to incur such Debt), (b) has not been (or is not being) incurred, extended or renewed in contemplation of or as a result of such Person becoming a Subsidiary or so being merged and (c) such Lien shall attach solely to the property of such Person which was owned by such Person prior to the date on which it became a Subsidiary.
More Definitions of Acquired Subsidiary Debt
Acquired Subsidiary Debt means Indebtedness of Company or any Subsidiary of Company incurred or assumed in connection with a Permitted Acquisition existing at the time of acquisition by Company or a Subsidiary of a Subsidiary or assets pursuant to a Permitted Acquisition, provided -------- that (i) such Indebtedness was not incurred in connection with or in anticipation of such Permitted Acquisition, (ii) such Indebtedness does not constitute debt for borrowed money (other than debt for borrowed money incurred in connection with industrial revenue or industrial development bond financings), it being understood and agreed that Capital Lease Obligations and purchase money Indebtedness shall not constitute debt for borrowed money for purposes of this definition, and (iii) at the time of such Permitted Acquisition such Indebtedness does not exceed 10% of the total value of the assets of the Subsidiary so acquired, or of the assets so acquired, as the case may be.
Acquired Subsidiary Debt means Debt of a Subsidiary outstanding at the time such Subsidiary becomes a Subsidiary, provided that such Debt shall not have been incurred in contemplation of such Subsidiary becoming a Subsidiary.