Affiliate Subordinated Indebtedness definition
Affiliate Subordinated Indebtedness means Indebtedness to an Affiliate (i) for which a Borrower is directly and primarily liable, (ii) in respect of which none of its Subsidiaries is contingently or otherwise obligated, (iii) that is subordinated to the obligations of the Borrowers to pay principal of and interest on the Loans, Reimbursement Obligations, fees and other amounts payable hereunder and under the other Loan Documents pursuant to an Affiliate Subordinated Indebtedness Subordination Agreement, (iv) that does not mature prior to January 31, 2016, and that is issued pursuant to documentation containing terms (including interest, covenants and events of default) in form and substance satisfactory to the Majority Lenders, (v) that states by its terms that principal and interest in respect thereof shall only be payable to the extent permitted under Section 8.09 hereof and (vi) that is pledged by the respective holder thereof to the Administrative Agent in a manner that creates a first priority perfected security interest in favor of the Administrative Agent, as collateral security for the obligations of the Borrowers hereunder, pursuant to (in the case of Mediacom Broadband) the Guarantee and Pledge Agreement and (in the case of any other holder) a security document in form and substance satisfactory to the Administrative Agent.
Affiliate Subordinated Indebtedness means any borrowings by the Borrower from The Southern Company or an Affiliate of The Southern Company; provided that such borrowings are subordinated on terms substantially similar to the terms of subordination set forth in Exhibit 1.1 hereto.
Affiliate Subordinated Indebtedness means Indebtedness incurred by the Borrower pursuant to any arrangement with an Affiliate of the Borrower; provided, that such Indebtedness (a) is contractually subordinated in right of payment and in all other respects to the Second Priority Term Loan Obligations and all other Secured Obligations on the terms described in Exhibit A, including an agreement by the holders of such Indebtedness not to exercise any remedies until the Secured Obligations Termination Date and is not secured other than by unperfected security interests, (b) does not provide for mandatory redemption or other redemption thereof until at least six months after final Stated Maturity of the Second Priority Term Loans, (c) provides for payment of interest thereon in the form of cash or additional Affiliate Subordinated Indebtedness having a principal amount equal to the amount of interest due (i.e., pay-in-kind), and (d) is otherwise in the form set forth in Exhibit A.
Examples of Affiliate Subordinated Indebtedness in a sentence
The Borrowers will not, nor will they permit any of their Subsidiaries to, purchase, redeem, retire or otherwise acquire for value, or set apart any money for a sinking, defeasance or other analogous fund for the purchase, redemption, retirement or other acquisition of, or make any voluntary payment or prepayment of the principal of or interest on, or any other amount owing in respect of, any Affiliate Subordinated Indebtedness, except to the extent permitted under Section 8.09.
The obligations of the Borrower under the Loan Documents constitute “Senior Indebtedness” under and as defined in the documents evidencing the Subordinated Indebtedness or Affiliate Subordinated Indebtedness.
The Borrowers will not, nor will they permit any of their Subsidiaries to, purchase, redeem, retire or otherwise acquire for value, or set apart any money for a sinking, defeasance or other analogous fund for the purchase, redemption, retirement or other acquisition of, or make any voluntary payment or prepayment of the principal of or interest on, or any other amount owing in respect of, any Affiliate Subordinated Indebtedness, except to the extent permitted under Section 8.09 hereof.
References in any Security Document, in the Management Fee Subordination Agreement and/or in the Affiliate Subordinated Indebtedness Subordination Agreement to sections in the Existing Credit Agreement shall be deemed amended to refer to the corresponding section of this Amended and Restated Credit Agreement.
The Borrowers may at any time after the date hereof incur Affiliate Subordinated Indebtedness to Mediacom Broadband or one or more other Affiliates, so long as the proceeds of any such Affiliate Subordinated Indebtedness constituting Cure Monies are immediately applied, first, ratably among the Term Loans of each Class and, second, after prepayment in full of all Term Loans, to prepayments of the Revolving Credit Loans and Incremental Facility Revolving Credit Loans of each Series hereunder.
More Definitions of Affiliate Subordinated Indebtedness
Affiliate Subordinated Indebtedness means Indebtedness to an Affiliate -----------------------------------
Affiliate Subordinated Indebtedness means Indebtedness to an Affiliate (i) for which a Borrower is directly and primarily liable, (ii) in respect of which none of its Subsidiaries is contingently or otherwise obligated, (iii) that is subordinated to the obligations of the Borrowers to pay principal of and interest on the Loans, Reimbursement Obligations, fees and other amounts payable hereunder and under the other Loan Documents pursuant to an Affiliate Subordinated Indebtedness Subordination Agreement, (iv) that does not mature prior to September 30, 2011, and that is issued pursuant to documentation containing terms (including interest, covenants and events of default) in form and substance satisfactory to the Majority Lenders, (v) that states by its terms that principal and interest in respect thereof shall only be payable to the extent permitted under Section 8.09 hereof and (vi) that is pledged by the respective holder thereof to the Administrative Agent in a manner that creates a first priority perfected security interest in favor of the Administrative Agent, as collateral security for the obligations of the Borrowers hereunder, pursuant to (in the case of Mediacom Broadband) the Guarantee and Pledge Agreement and (in the case of any other holder) a security document in form and substance satisfactory to the Administrative Agent.
Affiliate Subordinated Indebtedness means Indebtedness incurred by the Company pursuant to any arrangement with an Affiliate of the Company; provided, that such Indebtedness (1) is contractually subordinated in right of payment and in all other respects to the Notes and all other Secured Obligations in accordance with the Subordination Terms, including an agreement by the holders of such Indebtedness not to exercise any remedies until the Secured Obligations Termination Date, (2) does not provide for mandatory redemption or other redemption thereof until at least six months after final Stated Maturity of the Notes, (3) provides for payment of interest thereon in the form of cash or additional Affiliate Subordinated Indebtedness having a principal amount equal to the amount of interest due (i.e., "pay-in-kind"), and (4) is otherwise subordinated in accordance with the Subordination Terms.
Affiliate Subordinated Indebtedness means Indebtedness of any Subsidiary Guarantor to the Borrower or to any other Subsidiary Guarantor for borrowed money the obligations of such Subsidiary Guarantor in respect of which are subordinated to the obligations of such Subsidiary Guarantor hereunder pursuant to an Affiliate Subordination Agreement (or on other terms of subordination, and pursuant to documentation, reasonably satisfactory to the Majority Lenders).
Affiliate Subordinated Indebtedness means Indebtedness to an Affiliate (i) for which a Borrower is directly and primarily liable, (ii) in respect of which none of its Subsidiaries is contingently or otherwise obligated, (iii) that is subordinated to the obligations of the Borrowers to pay principal of and interest on the Loans, Reimbursement Obligations, fees and other amounts payable hereunder and under the other Loan Documents pursuant to an Affiliate Subordinated Indebtedness Subordination Agreement, (iv) that does not mature prior to the Latest Maturity Date, and that is issued pursuant to documentation containing terms (including interest, covenants and events of default) that are not less favorable to the Lenders than the Affiliate Subordinated Indebtedness outstanding on the First Restatement Effective Date or that are otherwise in form and substance satisfactory to the Majority Lenders, (v) that states by its terms that principal and interest in respect thereof shall only be payable to the extent permitted under Section 8.09 and (vi) that is pledged by the respective holder thereof to the Administrative Agent in a manner that creates a first priority perfected security interest in favor of the Administrative Agent, as collateral security for the obligations of the Borrowers hereunder, pursuant to (in the case of Mediacom Broadband) the Guarantee and Pledge Agreement and (in the case of any other holder) a security document in form and substance satisfactory to the Administrative Agent. The aggregate principal amount of Affiliate Subordinated Indebtedness outstanding on the First Restatement Effective Date was $650,000,000 (excluding regularly accrued interest from April 15, 2012 with respect to $500,000,000 aggregate principal amount thereof and June 30, 2012 with respect to $150,000,000 aggregate principal amount thereof, in each case, that may, in accordance with the terms of such Affiliate Subordinated Indebtedness, increase the principal amount thereof).
Affiliate Subordinated Indebtedness means Indebtedness of the Borrower, GTI and/or LLC to Affiliates of the Borrower which has been subordinated to the Obligations pursuant to terms and conditions satisfactory in all respects to the Majority Lenders and which contains terms and conditions which are satisfactory in all respects to the Majority Lenders.
Affiliate Subordinated Indebtedness means Indebtedness to an Affiliate (i) for which a Borrower is directly and primarily liable, (ii) in respect of which none of its Subsidiaries is contingently or otherwise obligated, (iii) that is subordinated to the obligations of the Borrowers to pay principal of and interest on the Loans, Reimbursement Obligations, fees and other amounts payable hereunder and under the other Loan Documents pursuant to an Affiliate Subordinated Indebtedness Subordination Agreement, (iv) that does not mature prior to the Latest Maturity Date, and that is issued pursuant to documentation containing terms (including interest, covenants and events of default) that are not less favorable to the Lenders than the Affiliate Subordinated Indebtedness outstanding on the Restatement Effective Date or that are otherwise in form and substance satisfactory to the Majority Lenders,