Borrower Secured Debt definition

Borrower Secured Debt has the meaning specified in the definition of “Reference Ratings”.
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Borrower Secured Debt means any financial accommodation pursuant to an Authorised Credit Facility that is, for the purposes of the Borrower STID, treated as Borrower Secured Debt and includes the Borrower Security Group’s liabilities under:
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Examples of Borrower Secured Debt in a sentence

  • An Obligor draws down under a Borrower Liquidity Facility (excluding any drawing or repayment of any Standby Drawing) or withdraws sums credited to a Debt Service Reserve Account, respectively, or a Borrower Liquidity Standby Account, if the withdrawal of such amount is for the purposes of making scheduled debt service payments on the Borrower Secured Debt.

  • If any Borrower Secured Debt is outstanding, then, immediately upon notification to the Borrower Security Trustee of an Event of Default occurring (other than an Event of Default as defined in any Borrower Hedging Agreement with respect to a Borrower Hedge Counterparty) in accordance with Clause 18 (Notification of Default), a Standstill Period will commence (unless one is already in existence) and the provisions of this Clause 19 shall apply.

  • In determining what Security will be provided in support of the Borrower Secured Debt, the following matters will be taken into account.

Related to Borrower Secured Debt

  • Secured Debt means Debt of the Company or its Subsidiaries secured by an Encumbrance on the property of the Company or its Subsidiaries.

  • Secured Indebtedness means any Indebtedness secured by a Lien.

  • Consolidated Senior Secured Debt Ratio as of the last day of any period of four consecutive Fiscal Quarters, the ratio of (a) Consolidated Senior Secured Debt on such day to (b) Consolidated EBITDA for such period.

  • Consolidated Secured Debt Ratio means, as of any date of determination, the ratio of (x) Consolidated Secured Indebtedness computed as of the end of the most recent fiscal quarter for which internal financial statements are available immediately preceding the date on which such event for which such calculation is being made shall occur to (y) the aggregate amount of EBITDA of EFIH for the period of the most recently ended four full consecutive fiscal quarters for which internal financial statements are available immediately preceding the date on which such event for which such calculation is being made shall occur, in each case with such pro forma adjustments to Consolidated Secured Indebtedness and EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Fixed Charge Coverage Ratio.”