Capital Debt definition

Capital Debt means, as of any date of determination, any and all Indebtedness of Borrower due more than one year from the date of determination which is (i) owed to any Affiliate of Borrower, and (ii) by its terms expressly subordinated to all Senior Debt and to any Subordinated Debt of Borrower on terms no less favorable to the holders of such Senior Debt and Subordinated Debt than those set forth in the Investment Agreement.

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Capital Debt when used with respect to the Company means all unsecured Indebtedness of the Company which (i) has been issued and sold to, and is owned and held by, Financial Federal Corporation, a Nevada corporation, (ii) bears interest at a rate which is no less favorable to the Company than would be obtainable in an arm's length transaction with a Person other than an Affiliate, and (iii) contains or has applicable thereto subordination provisions substantially in the form set forth in Exhibit A attached hereto or such other provisions as may be approved in writing by the Holders of not less than 66-2/3% in aggregate principal amount of the Notes of each series Outstanding.

Capital Debt means all Indebtedness of the Association which either (i) complied upon original issuance with applicable state and federal requirements for financial institution capital notes or debentures, or (ii) by express provision in the instrument creating or evidencing such Indebtedness ranks on a parity with or junior to the Notes and not prior to the Notes in right of payment; provided, however, that the act of according to any Indebtedness of the Association otherwise ranking on a parity with or junior to the Notes, any security by way of Lien of or on Property shall not be deemed to prevent such Indebtedness from constituting Indebtedness ranking on a parity with or junior to the Notes. Closing Date -- shall have the meaning given it in Section 1.2. Code -- shall mean the Internal Revenue Code of 1986, as such may be amended from time to time.

Examples of Capital Debt in a sentence

Indebtedness, Including Capital Debt The New Union District shall assume all indebtedness that may exist on June 30, 2019, including capital debt and including both principal and interest, of the Forming Districts.
The conditions in Section 2.4 (Working Capital Debt) of the Common Terms Agreement shall have been satisfied.
The conditions for incurrence of Replacement Debt shall not apply to the incurrence of facilities to replace Working Capital Debt, which shall be governed by the provisions of Section 2.4 (Working Capital Debt).
It is also possible that the Company will borrow additional funds from the lender(s) of the Working Capital Debt or enter into leases with such lender at various times in order to fund the development of additional Restaurants or the acquisition of assets.
Each Working Capital Lender’s Working Capital Debt Commitment shall expire on the Termination Date and all other amounts owed hereunder with respect to Working Capital Loans and the Working Capital Debt Commitments shall be paid in full no later than such date.
The Borrower shall not incur Working Capital Debt (other than Working Capital Debt incurred under this Agreement) prior to the Credit Agreement Maturity Date unless no Default or Event of Default has occurred and is continuing or could reasonably be expected to occur after giving effect to and as a result of the incurrence of the Working Capital Debt and such Working Capital Debt is denominated in Dollars.
In order to fund working capital for the Company, the Company will incur the Working Capital Debt.
From the effective date of any such reduction or cancellation, the Working Capital Commitment Fees shall be computed on the undrawn portion of the Working Capital Debt Commitments as so reduced or cancelled.
If the Borrower incurs any Working Capital Debt pursuant to Section 2.4 (Working Capital Debt), it shall use commercially reasonable efforts to ensure that the maturity date of such Working Capital Debt (but excluding for purposes thereof, any LC Loans (as defined in the Working Capital Facility Agreement) issued thereunder with maturity dates of 365 days or less) shall not occur prior to the Final Maturity Date.
Any Secured Working Capital Debt shall be treated in all respects as Secured Debt, sharing pari passu in the Collateral and in right of payment.

More Definitions of Capital Debt

Capital Debt means the amount required to prepay in full on the Closing Date the indebtedness of the Company for borrowed money set forth on Section 3.1 of the Disclosure Schedules, including all interest and prepayment premiums thereon.

Capital Debt means all unsecured Indebtedness of the Company which (i) has been issued and sold to, and is owned and held by, Financial Federal, (ii) bears interest at a rate which is no less favorable to the Company than would be obtainable in an arm's length transaction with a Person other than an Affiliate, and (iii) contains or has applicable thereto subordination provisions substantially in the form set forth in Exhibit F attached hereto or such other provisions as may be approved in writing by the holders of not less than 66-2/3% in aggregate principal amount of the Notes (exclusive of any Notes held by the Company, a Restricted Subsidiary or Affiliate).

Capital Debt has the meaning set forth in Section 9.02(g).