Additional Permitted Debt means Indebtedness of EnergySolutions and, after an IPO Reorganization, Duratek, that (i) is unsecured, (ii) is not guaranteed by Holdco, Parent, EnergySolutions or any of their Subsidiaries, (iii) matures no earlier than 180 days after the Maturity Date, (iv) requires no payment of principal (whether by way of scheduled amortization, mandatory redemption, mandatory prepayment, sinking fund or otherwise) to be made and (v) does not require Parent, EnergySolutions, Duratek or any of the Subsidiaries to maintain any specified financial condition.
Additional Permitted Debt has the meaning set forth in clause (n) of the definition of “Permitted Indebtedness.”
Additional Permitted Debt means the following Debt: (a) a Permitted Credit Facility and (b) Debt provided in connection with the Coronavirus Aid, Relief, and Economic Security Act and all regulations and guidance issued by any Governmental Authority with respect thereto (and any successor thereto), any similar program established under the Small Business Act (Public Law 85-536, as amended), or any similar program established prior to or after the Closing Date, which Debt is reasonably likely to be forgiven in accordance with its terms.
Examples of Additional Permitted Debt in a sentence
After the occurrence and during the continuance of a Trigger Event (Cash Dominion), use the funds on deposit in the Designated Account for any purposes other than (a) the payment of operating expenses incurred by the Loan Parties in the ordinary course of business (including payments of interest when due on account of any Additional Permitted Debt), and (b) for such other ordinary course purposes as the Loan Parties deem appropriate.
So long as no Event of Default or a Trigger Event has occurred and is continuing, the Grantor may exercise all of the Grantor's rights, powers, privileges, elections, options and remedies under the Assigned Agreements (including, without limitation, lending the proceeds of any Additional Permitted Debt to the Partnership) and any other contract or agreement included in the Collateral, subject to the terms of the Indenture and the other Project Documents.
If, after giving effect to the immediately preceding sentence, there shall be insufficient moneys to pay in full the whole amount that is required to be transferred to the Property Tax Fund on such Funding Date, the aggregate amount withdrawn from the Project Revenue Fund, the Distribution Sub- Fund, the Suspension Sub-Fund, the Overhaul Fund, the Pollution Control Finance Fund and the Additional Permitted Debt Fund shall be applied to the ratable payment of such amount.
Except as otherwise provided in this Depositary Agreement, amounts held in the Additional Permitted Debt Fund shall be applied solely for the payment of the costs of enhancements and modifications to the Project as set forth below.
To the extent that any of the Credit Banks or the holders of Additional Permitted Debt are not represented by any agent or trustee, such Credit Bank or holder of Additional Permitted Debt shall be permitted to execute this Agreement and the Designation Letter on its own behalf in lieu of any agent or trustee on its behalf.
More Definitions of Additional Permitted Debt
Additional Permitted Debt means unsecured senior and unsecured subordinated Debt of Parent and/or any other Credit Party issued or incurred after the Tenth Amendment Effective Date so long as, in each case, (a) such Debt bears no greater than a market interest rate as of the time of its issuance or incurrence, (b) such Debt does not mature or require any scheduled principal payments of the principal amount thereof prior to the date that is no less than 5 years from the date such Debt is issued or incurred, (c) no indenture or other agreement governing such Debt contains (i) maintenance financial covenants or (ii) covenants or events of default that are more restrictive on Parent or any of its Restricted Subsidiaries than those contained in this Agreement are on Parent and its Restricted Subsidiaries, and (d) after giving effect to the issuance or incurrence of such Debt on a pro forma basis, Borrower shall be in compliance with all covenants set forth in Section 9.01 as of the last day of the applicable period covered by the certificate most recently delivered pursuant to Section 8.01(c) (for purposes of Section 9.01, as if such Debt, and all other Additional Permitted Debt issued or incurred since the first day of such applicable period, had been issued or incurred on the first day of such applicable period).
Additional Permitted Debt means Indebtedness of EnergySolutions or Duratek that (i) is unsecured, (ii) other than in the case of Indebtedness incurred pursuant to Section 7.1(w) or, to the extent replacing, renewing, extending, refinancing or refunding Indebtedness originally incurred pursuant to Section 7.1(w), Section 7.1(n), is not guaranteed by EnergySolutions, Parent or any of their Subsidiaries, (iii) matures no earlier than 180 days after the Term Loan Maturity Date (as such term is defined in the EnergySolutions Credit Agreement), (iv) requires no payment of principal (whether by way of scheduled amortization, mandatory redemption, mandatory prepayment, sinking fund or otherwise) to be made prior to its maturity date (except with respect to an acceleration after an event of default); provided that in the case of Indebtedness incurred pursuant to Section 7.1(w) or, to the extent replacing, renewing, extending, refinancing or refunding Indebtedness originally incurred pursuant to Section 7.1(w), Section 7.1(n), the terms of such Indebtedness may require redemptions or offers to purchase upon asset sales and change of control events on customary terms, and (v) does not require Parent, EnergySolutions or any of their respective Subsidiaries to maintain any specified financial condition.
Additional Permitted Debt means Indebtedness of EnergySolutions that (a) is unsecured, (b) other than in the case of Indebtedness incurred pursuant to Section 7.1(u), is not guaranteed by Parent or any of its Subsidiaries, (c) matures no earlier than 180 days after the Term Maturity Date, (d) requires no payment of principal (whether by way of scheduled amortization, mandatory redemption, mandatory prepayment, sinking fund or otherwise) to be made prior to its maturity date (except after such Indebtedness has been accelerated as a result of the occurrence of an event of default thereunder), provided that in the case of Indebtedness incurred pursuant to Section 7.1(u), the terms of such Indebtedness may require redemptions or offers to purchase upon asset sales and change of control events on customary terms, and (e) does not require Parent, EnergySolutions or any of their respective Subsidiaries to maintain any specified financial condition.
Additional Permitted Debt means any Additional Pari Passu Permitted Debt and any Other Permitted Debt. “Additional Refinancing Lender” has the meaning set forth in Section 2.14(a). “Adjusted Base Case Model” means the then current Adjusted Base Case Model as updated by the Borrower with any changes needed to take into account the Debt Resizing Triggers, in each case showing that (after giving pro forma effect, as applicable, to such sale and the application of the Net Proceeds therefrom and any other Prepayment Amount in accordance with Section 4.04(c), (b)(v) (solely with respect to Dispositions) or (b)(vii)(B) or such incurrence of Incremental Term Loans in accordance with Section 2.13) the Outstanding Amount of Term Loans or such Incremental Term Loans, as applicable, would not exceed as of any date of determination pursuant to Section 5.07(d), (b)(v) (solely with respect to Dispositions) or (b)(vii)(B) or Section 2.13, as applicable, the maximum amount of Term Loans or Incremental Term Loans, as applicable, that would be permitted by such Base Case Model, utilizing the same set of assumptions that resulted in the determination of $160,000,000 as the aggregate Commitments in respect of Initial Term Loans and Term Conversion Date Term Loans as of the Closing Date, and giving effect to the incurrence of any Incremental Term Loans, any Material Disposition, any Equity Sale, any prepayments of the Facilities related thereto, and any Commitment reductions, or any other events agreed by the Borrower and the Administrative Agent. For clarity, but without prejudice to the foregoing, such amount is intended to reflect the maximum amount of Term Loans or Incremental Term Loans, as applicable, that can be supported based on the Applicable Debt Sizing Criteria. “Administrative Agent” means MUFG Bank, Ltd., in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent. “Administrative Agent’s Office” means the Administrative Agent’s address and account as set forth on Schedule 10.02(a), or such other address or account as the Administrative Agent may from time to time notify the Borrower and the Lenders. “Administrative Questionnaire” means an Administrative Questionnaire in such form as may be supplied from time to time by the Administrative Agent. 143 KE 73718588.20 US-DOCS\142539518.2141222994.8
Additional Permitted Debt has the meaning specified in Section 7.03(r).
Additional Permitted Debt. “Aggregate Maximum Credit Amount”, “Applicable Margin”, “Loan Documents”, “Maturity Date”, “Permitted Bond Debt”, and “Permitted Bond Documents” contained in Section 1.02 of the Credit Agreement shall be amended to read in full as follows:
Additional Permitted Debt means Indebtedness of the Issuer in an amount equal to the lesser of (a) $50,000,000 minus the principal amount of Notes issued at Closing and (b) the maximum amount of Indebtedness that, if incurred by the Issuer, (i) would result in a minimum trailing twelve month consolidated Debt Service Coverage Ratio equaling or exceeding 1.50:1.00 from the Closing Date through 2023, and (ii) would result in a trailing twelve month consolidated Debt Service Coverage Ratio equaling or exceeding 1.55:1.00 beginning 2024 through 2036 in an update of the Base Case Projections calculated using the same assumptions used in preparing the Base Case Projections but taking into account only contracted revenues and assuming an interest rate that is 1% higher than the weighted average interest rate of the Notes after taking into account the contemplated Additional Permitted Debt; provided that the maturity date of Additional Permitted Debt is the Maturity Date and Additional Permitted Debt is secured by the Collateral and otherwise ranks pari passu with the Notes.