Affiliate Subordinated Debt definition

Affiliate Subordinated Debt means any unsecured, subordinated loan or loans to the Company from any of its Affiliates pursuant to a Subordinated Loan Agreement, fully subordinated as to payment and exercise of remedies and payable only from monies otherwise distributable by the Company from the Distribution Account in accordance with the Intercreditor Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Affiliate Subordinated Debt means unsecured Indebtedness of the Borrower held by any Affiliate of the Borrower, any Partner or an Affiliate of any Partner and subordinated to the Senior Debt on the basis set forth in Schedule 3 hereto.

Affiliate Subordinated Debt means, for purposes of these Terms of Subordination (this "Agreement"), [describe the specific Affiliate Subordinated Debt that is being subordinated hereby--to include all amounts payable in connection therewith], which constitutes Debt of the Borrower originally issued to a Person that is an Affiliate of the Borrower, other than a Subsidiary of the Borrower, and which is subordinated on the terms set forth below. Debt of the Borrower payable to any entity that is formed by the Borrower or an Affiliate of the Borrower for the purpose of issuing securities in the public or capital markets, or in a private placement, shall not constitute "Affiliate Subordinated Debt" for all purposes hereof.

Examples of Affiliate Subordinated Debt in a sentence

The Borrower and the Subordinated Creditor shall not subordinate the Affiliate Subordinated Debt for the benefit of any one or more other creditors of the Borrower, now or hereafter existing, upon any terms other than those set forth in this Agreement.
The Borrower and the Subordinated Creditor shall have the right to subordinate the Affiliate Subordinated Debt for the benefit of any one or more other creditors of the Borrower, now or hereafter existing, upon the same terms as are set forth in this Agreement.
The Borrower and the Subordinated Creditor shall endorse on any instrument evidencing Affiliate Subordinated Debt a statement to the effect that it is subject to these terms of subordination.
The Subordinated Creditor will not sell, assign, pledge, encumber or otherwise dispose of any of the Affiliate Subordinated Debt unless such sale, assignment, pledge, encumbrance or disposition (i) is to a person or entity other than the Borrower and (ii) is made expressly subject to this Agreement.
From and after the payment in full of the Obligations, the Subordinated Creditor shall be subrogated to all rights of the Agent, the Lenders, the Senior Creditors and the Representatives to receive any further payments or distributions applicable to the Obligations until the Affiliate Subordinated Debt shall have been paid in full, in addition to all other rights of subrogation that the Subordinated Creditor may have.

More Definitions of Affiliate Subordinated Debt

Affiliate Subordinated Debt. Defined. "Affiliate Subordinated Debt" means, for purposes of these Terms of Subordination (this "Agreement"), [describe the specific Affiliate Subordinated Debt that is being subordinated hereby--to include all amounts payable in connection therewith], which constitutes Debt of the Borrower originally issued to a Person that is an Affiliate of the Borrower and which is subordinated on the terms set forth below. Debt of the Borrower payable to any entity that is formed by the Borrower or an Affiliate of the Borrower for the purpose of issuing securities in the public or capital markets, or in a private placement, shall not constitute "Affiliate Subordinated Debt" for all purposes hereof.

Affiliate Subordinated Debt. Defined. "Affiliate Subordinated Debt" means, for purposes of these Terms of Subordination (this "Agreement"), [describe the specific Affiliate Subordinated Debt that is being subordinated hereby--to include all amounts payable in connection therewith], which constitutes Debt of the Borrower originally issued to a Person that is an Affiliate of the Borrower, other than a Subsidiary of the Borrower, and which is subordinated on the terms set forth below. Debt of the Borrower payable to any entity that is formed by the Borrower or an Affiliate of the Borrower for the purpose of issuing securities in the public or capital markets, or in a private placement, shall not constitute "Affiliate Subordinated Debt" for all purposes hereof.

Affiliate Subordinated Debt means Debt of New Mirant which is subordinated to the obligations of New Mirant under the Series A Put Agreement and the Series B Put Agreement and which is owed to or held by an affiliate of New Mirant other than a subsidiary of New Mirant.

Affiliate Subordinated Debt has the meaning specified in Schedule II hereto.

Affiliate Subordinated Debt means any Debt of the Borrower (a) that is issued to an Affiliate of the Borrower, (b) that is not assigned to any Person who is not an Affiliate of the Borrower, (c) that is subordinated in right and time of payment to the Obligations and containing such other terms and conditions, and subject to such documentation (including, without limitation, a subordination agreement which shall provide, among other things, that no cash payments may be made with respect to such Debt before the Obligations have been paid in full and all Commitments have terminated pursuant to the terms of the Credit Agreement) as requested by the Administrative Agent, in each case satisfactory to the Administrative Agent, (d) that is unsecured, (e) that has a maturity date on or after December 31, 2014, (f) that does not issue with an original issue discount, and (g) for which, at least 5 days prior to the issuance of such Debt (or such later date as acceptable to the Administrative Agent), the Borrower has provided written notice to the Administrative Agent setting forth the terms and conditions of such Debt, appending the applicable documents evidencing and relating to such debt (including a subordination agreement) and certifying as to the permissibility of such Debt under the terms of this Agreement, each in form and substance satisfactory to the Administrative Agent.

Affiliate Subordinated Debt means (i) unsecured Financial Indebtedness of an Obligor, a Project Company or Project Holding Company owing to BAM or Affiliates of BAM that is expressly subordinated to the payment of the Loans on the terms set forth in Exhibit F or (ii) unsecured Financial Indebtedness of any Subsidiary of the Borrower, Project Company or Project Holding Company owing to the Borrower or any Guarantor.

Affiliate Subordinated Debt means an unsecured, subordinated loan or loans from any Affiliate of the Company pursuant to an Affiliate Subordinated Loan Agreement.