Back Leverage means the (1) incurrence of indebtedness by the Purchaser (or an Affiliate thereof) to (A) finance a portion of its purchase of the Shares, (B) finance a return of capital with respect to its investment in the Shares, or (C) refinance or replace indebtedness described in this clause (1), and (2) granting of Liens by the Purchaser to secure payment of such indebtedness, including on Shares held by the Purchaser (or each Affiliate of the Purchaser to which Shares are transferred pursuant to Section 5.3(b)(1)).
Back Leverage means: (i) incurrence of indebtedness by the Lead Investor (or an Affiliate thereof) to (A) finance its subscription of its Applicable Subscribed Shares, (B) finance a return of capital with respect to its investment in its Applicable Subscribed Shares or the Conversion Securities converted therefrom, or (C) refinance or replace indebtedness described in this clause (i), and (ii) granting of Liens by the Lead Investor to secure payment of such indebtedness, including on any of its Applicable Subscribed Shares or any Conversion Securities held by the Lead Investor Parties.
Back Leverage means the (i) direct or indirect incurrence of Indebtedness by Apax (or an Affiliate thereof, including any entity directly or indirectly holding such Registrable Securities) or the Restricted Holders or the Significant Co-Investor, in each case, with respect to the Registrable Securities (and including to refinance or replace Indebtedness described in this clause (i), and (ii) granting of Liens by Apax, the Significant Co-Investor or the applicable Restricted Holder to secure payment of such Indebtedness described in clause (i), including on the Registrable Securities held by Apax or its Permitted Transferees, the Significant Co-Investor or the applicable Restricted Holder but which granting of Liens will not be, solely during the Apax Lock-Up Period, (x) on more than 20% of the Registrable Securities Beneficially Owned by Apax (and its Permitted Transferees) as a percentage of the Registrable Securities Beneficially Owned by Apax on the Closing Date, or (y) on more than 20% of the Registrable Securities Beneficially Owned by the Significant Co-Investor (and its Permitted Transferees) as a percentage of the Registrable Securities Beneficially Owned by the Significant Co-Investor on the Closing Date, as applicable.
Examples of Back Leverage in a sentence
For systems containing exempt, or confidential and exempt data, each agency shall ensure written agreements and procedures are in place to ensure proper security for sharing, handling or storing confidential data with entities outside the agency.
Schematic of the Partnership Flip Structure (with Back Leverage) 17Figure 5.
Subject to the additional terms and conditions set forth on Schedule 3.5, to the extent reasonably requested by the Purchaser, the Company will provide customary and reasonable cooperation in good faith as may be reasonably required in connection with the Purchaser obtaining any Back Leverage, including entering into a waiver of transfer restrictions in customary form to allow for Liens to be placed on the Shares.
Due largely to the Tax Investor concerns described above, levered structures (i.e., those with debt at the project level) have been in the minority for financing wind projects in the U.S. Although term debt has been used in the market, the all-equity structures (including Back Leverage) described previously are more common.7 Short-term turbine supply loans and construction loans have been used more frequently than term debt, but these are replaced by equity upon the project commencing operations.
The Purchaser acknowledges and agrees that, notwithstanding the Company’s obligations under this Section 3.5, neither the obtaining of the Back Leverage, nor the completion of any issuance of debt contemplated by the Back Leverage, is a condition to the Closing.
More Definitions of Back Leverage
Back Leverage means, with respect to any Investor, the: (a) incurrence of indebtedness by such Investor (or an Affiliate thereof) to (i) finance a portion of its purchase of the Convertible Securities, (ii) finance a return of capital with respect to its investment in the Convertible Securities (or Conversion Securities), or (iii) refinance or replace indebtedness described in this clause (a), and (b) granting of Liens by such Investor to secure payment of such indebtedness, including on the Convertible Securities and any Conversion Securities held by the Investor Parties.
Back Leverage means the (i) incurrence of indebtedness by a Purchaser to (a) finance a portion of its purchase of the Notes (b) finance a return of capital with respect to its investment in the Notes or (c) refinance or replace indebtedness described in this clause (i), and (ii) granting of liens by a Purchaser to secure payment of such indebtedness, including on the Notes and Common Stock of the Company held by such Purchaser.
Back Leverage means the (a) incurrence of indebtedness by the Investor (or an Affiliate thereof) to (i) finance a portion of its purchase of the Preferred Stock, (ii) finance a return of capital with respect to its investment in the Preferred Stock, or (iii) refinance or replace indebtedness described in this clause (a), and (b) granting of Liens by the Investor to secure payment of such indebtedness, including on the Preferred Stock and any shares of Common Stock held by the Investor Parties.
Back Leverage means, with respect to any Investor, the: (a) incurrence of indebtedness by such Investor (or an Affiliate thereof) to
Back Leverage means any (i) bona fide loan or lending transaction entered into by the Investor (or, after the Restricted Period, a Permitted Transferee thereof) to (a) finance a portion of its purchase of the Series B Preferred Stock, (b) finance a return of capital with respect to its investment in the Series B Preferred Stock or the Company Common Stock issued upon conversion thereof, or (c) refinance or replace any indebtedness described in this clause (i), and (ii) granting of Liens by the Investor to secure payment of such indebtedness and related obligations, including on the Series B Preferred Stock and any shares of Company Common Stock held by the Investor Parties.
Back Leverage means, with respect to any Investor, the: (a) incurrence of indebtedness by such Investor (or an Affiliate thereof) to (i) finance a portion of its subscription of the Preferred Shares, (ii) finance a return of capital with respect to its investment in the Preferred Shares (or Conversion Securities), or (iii) refinance or replace indebtedness described in this clause (a), and (b) granting of Liens by such Investor to secure payment of such indebtedness, including on the Preferred Shares and any Conversion Securities held by the Investor Parties.
Back Leverage means the (a) incurrence of indebtedness by the Investor (or an Affiliate thereof) to (i) finance a portion of its purchase of the Preferred Stock, (ii) finance a return of capital with respect to its investment in the Preferred Stock, or (iii) refinance or replace indebtedness described in this clause (a), and (b) granting of Liens by the Investor to secure payment of such indebtedness, including on the Preferred Stock and any shares of Common Stock held by the Investor Parties. "beneficially own", "beneficial ownership of", or "beneficially owning" any securities shall have the meaning set forth in Rule 13d-3 of the rules and regulations under the Exchange Act.