Approved Subordinated Debt means Indebtedness subordinated to the Obligations of the Borrowers under this Agreement and the other Loan Documents on terms approved in writing by the Administrative Agent and the Required Lenders.
Approved Subordinated Debt means all Debt which is unsecured and which is structurally or contractually subordinated, as to payment, to the payment of the Loans and other Obligations on terms, and pursuant to agreements in form and substance, satisfactory to, and approved in writing by, the Administrative Agent and the Required Lenders.
Approved Subordinated Debt means debt provided to any Loan Party by Series C, LLC (or any successor thereto), an Affiliate of such Loan Party or American Realty Capital Properties, Inc. (or any successor thereto or Affiliate thereof), which is (i) subject to approval by Administrative Agent in its sole, but reasonable, discretion, (ii) unsecured, (iii) subordinate to the Obligations pursuant to an Approved Subordination Agreement, (iv) has been documented in a manner reasonably satisfactory to Administrative Agent, and (v) not in excess of the aggregate principal amount of $10,000,000.00.
Examples of Approved Subordinated Debt in a sentence
Liquid Capital means the sum of: (a) Core Capital; (b) cumulative Preference Shares; (c) Approved Subordinated Debt; and (d) revaluation reserves other than Financial Asset Revaluation Reserves, less the sum of: (a) Excluded Assets; and (b) Excluded Liabilities.
It is important that Participants understand the distinction between subordinated debt under a Subordinated Loan Deed/Subordination Deed and Approved Subordinated Debt for the purposes of the ASX Clear and/or ASX Clear (Futures) capital requirements.
Liabilities may, if ASIC so approves, having regard to all the circumstances, exclude Approved Subordinated Debt.
Approved Subordinated Debt; Note 7 (NTA-ASD) ASX Clear (Futures) Participants with a subordinated debt facility approved by ASX Clear (Futures) should report the approved subordinated debt facility in this section for returns being submitted under the ASX Clear (Futures) Operating Rules.The ‘Maturity’ field should be left blank if the facility has no maturity date.
Subordinated loans approved by ASX Clear can only be treated as Approved Subordinated Debt in returns being submitted for the purposes of the ASX Clear Operating Rules (ie, where Participant Type is ‘ASX Clear Participant’).
More Definitions of Approved Subordinated Debt
Approved Subordinated Debt means an amount owing by a Market Participant under a subordination arrangement which is approved by ASIC under Rule S1A.2.4.
Approved Subordinated Debt means an amount owing by a Participant under a subordination arrangement which is approved by ASX Clear under Rule S1.2.4.
Approved Subordinated Debt means Debt issued by Borrower which is unsecured and subordinated to payment of the Credit Facilities and the terms of which (including, without limitation, the subordination provisions thereof) have been approved in writing by the Required Lenders, and shall include, without limitation, (a) the Debt evidenced by notes made pursuant to the terms of that certain Indenture (the "March Indenture") dated March 1, 1997, executed by and between Borrower and Bank One, Columbus, N.A., as Trustee, and (b) any other promissory notes evidencing subordinated debt issued on terms consistent with those of the March Indenture, provided that (i) Administrative Agent has received projections from Borrower showing financial covenant compliance following issuance of such notes; (ii) no Default or Event of Default has occurred and has not been cured; and (iii) Administrative Agent has approved the terms for the issuance of such promissory notes, including, without limitation, the terms regarding subordination of such promissory notes to the Credit Facilities.
Approved Subordinated Debt means an amount owing by an *APX broker which is payable at a time or by instalments approved by *APX and is to the satisfaction of*APX effectively subordinated so that any right of the creditor in question to receive payment in the case of bankruptcy of or any composition or compromise with creditors by or appointment of a trustee in bankruptcy or in the case of liquidation, liquidator in respect of the *APX broker is extinguished to such extent as will ensure payment or provision for payment in full of all claims of all other present and future creditors of the *APX broker in priority to the claim of the subordinated creditors and in respect of which a approved subordinated loan deed has been executed under seal by the *APX broker, the lender and *APX (or on behalf of *APX by its delegate or sub-delegate as *APX may determine from time to time) and which contains provisions which may be imposed by *APX having regard to the nature of the business conducted or to be conducted by the *APX broker, which has a capital structure which complies with Rule 3.2.1 and any subordinated debt agreement which has been made, complies with the provisions of Rule 3.1.1(d).
Approved Subordinated Debt means Subordinated Debt that satisfies the requirements of clause (v) of Section 8.07(c) hereof.
Approved Subordinated Debt means debt subordinated and junior in right of payment to prior payment in full of all Credit Obligations pursuant to a subordination agreement, the terms of which shall be satisfactory to the Agent.
Approved Subordinated Debt means any unsecured Funded Debt (a) of the type described in clause (x) of the definition of "Total Debt" in this Section 1.1, or (b)(i) having a final maturity not earlier than July 16, 2002 and a weighted average life to maturity (determined in accordance with generally accepted financial practice) of at least six and one half years from the date of issuance thereof, (ii) subject to terms (including covenants and events of default) no more restrictive with respect to the issuer thereof (as determined by the Agent in its sole discretion) than the terms of this Agreement, and (iii) which is made subordinate and junior to the Obligations by the express terms of the instruments evidencing the same, or pursuant to which the same is issued, on the terms set forth in Schedule V or on terms substantially similar, in the view of the Agent, to such terms.