Additional Subordinated Debt definition

Additional Subordinated Debt means unsecured Indebtedness of the Borrower that (a) does not require any scheduled payment of principal (including pursuant to a sinking fund obligation) or mandatory redemption or redemption at the option of the holders thereof (except for redemptions in respect of (i) in the case of convertible Indebtedness, changes in control on terms that are determined in good faith by senior management of the Borrower to be market terms on the date of issuance or (ii) in the case of other Indebtedness, asset sales and changes in control on terms that are determined in good faith by senior management of the Borrower to be market terms on the date of issuance) prior to the date that is 180 days after the Tranche B Maturity Date or, if such Indebtedness is incurred after the Borrower has obtained any Incremental Term Loans or while any Commitments from Additional Lenders to make Incremental Term Loans remain in effect, 180 days after the maturity date for such Incremental Term Loans, unless all such Incremental Term Loans have been repaid in full and all Commitments in respect thereof have been terminated, (b) contains subordination provisions and, if Guaranteed, Guarantee release provisions, in each case that are determined in good faith by senior management of the Borrower to be market terms on the date of issuance, (c) contains covenants and events of default that (i) in the case of convertible Indebtedness, are not less favorable to the Lenders than the comparable terms of the Convertible Notes as determined in good faith by senior management of the Borrower or (ii) in the case of other Indebtedness, are determined in good faith by senior management of the Borrower to be market terms on the date of issuance, provided that such covenants and events of default are not materially more restrictive than the covenants and events of default contained in this Agreement (as determined in good faith by senior management of the Borrower) and do not require the maintenance or achievement of any financial performance standards other than as a condition to the taking of specified actions, (d) bears interest at a fixed rate that is a market rate of interest on the date of issuance of such Indebtedness as determined by the Borrower’s board of directors in good faith and (e) at the option of the Borrower, may contain market optional redemption provisions.

Additional Subordinated Debt means any term (and not “revolving”) indebtedness of the Borrower for borrowed money, including any such Debt evidenced by bonds, debentures, notes or other similar instruments, or any redeemable preferred equity of the Borrower (but excluding the Second Lien Debt), in any event, issued after the Effective Date and only to the extent such Debt complies with all of the following requirements:

Additional Subordinated Debt means unsecured Indebtedness of the Borrower (that may be guaranteed by Holdings and those Subsidiaries that are Loan Parties) that (a) does not have a stated maturity date prior to the date that is 90 days after the Tranche B Maturity Date, (b) does not require any scheduled payment of principal (including pursuant to a sinking fund obligation) or amortization prior to the date that is 90 days after the Tranche B Maturity Date, (c) is (and all guarantees with respect thereto are) subordinated to the Obligations on terms no less favorable to the Lenders than the terms of the Senior Subordinated Notes, (d) contains non-pricing terms (including covenants, events of default, remedies, redemption provisions and sinking fund provisions) no less favorable to the Lenders than the terms of the Senior Subordinated Notes and (e) bears a market rate of interest as determined by the Borrower’s Board of Directors.

Examples of Additional Subordinated Debt in a sentence

• Any such Additional Subordinated Debt Securities, together with the Subordinated Debt Securities of the applicable series, will constitute a single series of Subordinated Debt Securities under this Subordinated Debt Securities Indenture and shall be included in the definition of “Subordinated Debt Securities” in this Subordinated Debt Securities Indenture where the context requires.

• Borrower acknowledges that Agent and each Lender are entering into this Agreement and are extending the Commitments in reliance upon this Section 3.26 and the subordination provisions of the Initial IDS Subordinated Notes Documents and, on and after the execution, delivery and/or Incurrence thereof, of any Subsequent IDS Subordinated Notes Documents and any Additional Subordinated Debt Documents.

• The Company may, from time to time, without the consent of the Holders of the Notes, issue Additional Subordinated Debt Securities having the same ranking and same interest rate, Maturity, redemption terms and other terms as the Notes of this series, except for the price to the public and issue date and first Interest Payment Date, of the Notes of this series.

• The subordination provisions contained in the Initial IDS Subordinated Notes Documents and, on and after the execution, delivery and/or Incurrence thereof, any Subsequent IDS Subordinated Notes Documents and any Additional Subordinated Debt Documents, are enforceable against Borrower, the Guarantors party thereto and the holders of such Indebtedness by Agent and Lenders.

• Each Loan Party shall deliver to the Agents complete and correct copies of any amendment, restatement, supplement or other modification to or waiver of the Revolving Loan Documents, the Management Agreement, the Quebec Subordinated Debt Documents, the Montrovest Debt Documents, the Xxxxxxx Debt Documents, any Additional Subordinated Debt Documents or Organizational Documents.

More Definitions of Additional Subordinated Debt

Additional Subordinated Debt means the Additional Senior Subordinated Notes, any Guarantees thereof and the Indebtedness represented thereby.

Additional Subordinated Debt means indebtedness of the Borrower which (i) Required Lenders have determined to be sufficiently subordinate to the payment of the Obligations, (ii) Required Lenders have consented to in writing, and (iii) Required Lenders have agreed to deduct from the calculation of Total Adjusted Debt (as defined herein).

Additional Subordinated Debt as defined in Section7.2(k).

Additional Subordinated Debt means any unsecured Indebtedness for borrowed money of the Borrower or any of its Subsidiaries incurred after the Closing Date which (a) to the extent such Indebtedness refinances any Existing Subordinated Debt, requires no cash payments of principal prior to the Maturity Date, (b) does not contain limitations on the ability of Borrower or any of its Subsidiaries to incur Indebtedness which are more restrictive than those found in Section 4.09 (Incurrence of Indebtedness and Issuance of Preferred Stock) of the 2005 Indenture, and (c) is subordinated to the Obligations on terms no less favorable to the Lenders than those governing the 2005 Senior Subordinated Notes.

Additional Subordinated Debt means Debt represented by senior subordinated notes issued by the Borrower, and the Guarantees issued in connection therewith, after the Effective Date; provided that any Additional Subordinated Debt shall (i) be issued under the same indenture as the Subordinated Debt and with a Yield to Worst no greater than 14.5%, (ii) otherwise have terms, including the terms of subordination for both the issuer and the guarantor thereof, substantially identical to, and in any event no less favorable to the Lenders than those contained in the Subordinated Debt Documents governing the Subordinated Debt and (iii) have no required amortization, redemption, defeasance, repayment or acquisition prior to the first anniversary of the Revolving Maturity Date.

Additional Subordinated Debt means unsecured Indebtedness of the Borrower (that may be guaranteed by those Subsidiaries that are Loan Parties) that (a) does not have a stated maturity date prior to the date that is 180 days after the Tranche B Term Loan Maturity Date, (b) does not require any scheduled payment of principal (including pursuant to a sinking fund obligation) or amortization prior to the date that is 180 days after the Tranche B Term Loan Maturity Date, (c) is (and all guarantees with respect thereto are) subordinated to the Obligations on terms (i) no less favorable to the Lenders than the terms of the Senior Subordinated Notes or (ii) in the case of high yield debt securities, customary for senior subordinated high yield debt securities or as are reasonably satisfactory to the Administrative Agent, (d) contains non-pricing terms (including covenants, events of default, remedies, redemption provisions and sinking fund provisions) (i) no less favorable to the Lenders than the terms of the Senior Subordinated Notes taken as a whole or (ii) customary for senior subordinated high yield debt securities and (e) bears a market rate of interest as determined by the Borrower’s Board of Directors.

Additional Subordinated Debt shall have the meaning provided in Section 9.04(xv).