Consolidated Priority Indebtedness definition

Consolidated Priority Indebtedness means all Priority Indebtedness of the Company and its Restricted Subsidiaries (but not Tax Arrangement Priority Indebtedness) determined on a consolidated basis eliminating intercompany items.

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Consolidated Priority Indebtedness means all Priority Indebtedness of the Borrower and its Subsidiaries (but not Tax Arrangement Priority Indebtedness) determined on a consolidated basis eliminating inter-company items.

Consolidated Priority Indebtedness means, without duplication, (a) any Indebtedness of the Company or a Subsidiary secured by a Lien created or incurred within the limitations of Section 10.2(m) and not otherwise permitted under Sections 10.2(a) through 10.2(j), and (b) any Indebtedness of the Company’s Subsidiaries; provided that there shall be excluded from any calculation of Consolidated Priority Indebtedness, (i) all Indebtedness of any Subsidiary Guarantor, (ii) the Indebtedness of (A) any Subsidiary evidenced by a Guaranty of such Subsidiary of Indebtedness of the Company outstanding under a Bank Credit Agreement, for so long as a Subsidiary Guaranty from such Subsidiary shall remain in full force and effect, and (B) the Company or any Subsidiary secured by a Lien described in subparagraph (a) above granted to or for the benefit of the lenders under any Bank Credit Agreement or the administrative agent on their behalf or the holders of the 2012 Notes to the extent the Company and such Subsidiary have also granted to and for the benefit of the holders of the Notes a similar first priority lien (pursuant to the second proviso of Section 10.2(m)), subject only to Liens otherwise permitted under Sections 10.2(a) through 10.2(j) and ranking pari passu with the Lien provided to or for the benefit of the lenders and/or the administrative agent, as the case may be, under any Bank Credit Agreement, or the holders of the 2012 Notes, (iii) the Indebtedness of any Subsidiary owing to the Company or a Wholly-owned ▇.▇. ▇▇▇▇▇▇ COMPANY FIRST AMENDMENT Subsidiary of the Company, (iv) all Indebtedness of any Subsidiary outstanding on the date of first Closing and described on Schedule 5.15 hereof, and (v) any extension, renewal, refinancing (including successive refinancings) or refunding of Indebtedness described in the foregoing clause (iv), provided that (A) any such extension, renewal, refinancing or refunding does not increase the principal amount remaining unpaid as of the date of such extension, renewal, refinancing or refunding plus an additional amount equal to unpaid accrued interest on such Indebtedness and fees and expenses reasonably incurred in connection therewith, and in the case of a refinancing, a reasonable prepayment premium and, and (B) in the case of any such Indebtedness secured by a Lien, such lien shall attach solely to the same such property.

Examples of Consolidated Priority Indebtedness in a sentence

The Company will not, as at the end of any fiscal quarter, permit Consolidated Priority Indebtedness to exceed 15% of Consolidated Total Capitalization, calculated in accordance with GAAP.
The Company will not, as at the end of any fiscal quarter, permit Consolidated Priority Indebtedness to exceed 15% of Consolidated Total Capitalization, calculated in accordance with Agreement Accounting Principles.
The Company will not at any time permit Consolidated Priority Indebtedness to exceed 15% of Consolidated Tangible Assets.
For the avoidance of doubt, unless ▇▇▇▇▇▇ Finance becomes a Subsidiary Guarantor in accordance with clause (a) above, all obligations of ▇▇▇▇▇▇ Finance as an obligor or a borrower under a Bank Credit Agreement or the 2009 Note Purchase Agreement shall constitute Consolidated Priority Indebtedness.
The Company will not, at any time, permit Consolidated Priority Indebtedness to exceed 15% of Consolidated Total Capitalization.
Section 2.1. By execution of this Agreement, the Noteholders hereby waive any Default or Event of Default under Section 5.8 of the Note Agreements caused solely by the existence of Consolidated Priority Indebtedness consisting of Indebtedness of Speedline S.p.A. which existed at the time Speedline S.p.A. was acquired by the Company.
Such borrowing will then be made available to the applicable Borrower by the Administrative Agent crediting the account of the applicable Borrower on the books of such office with the aggregate of the amounts made available to the Administrative Agent by the Revolving Lenders and in like funds as received by the Administrative Agent.
Section 2.1. By execution of this Agreement, the Noteholder hereby waives any Default or Event of Default under Section 6.8 of the Note Agreement (after giving effect to the amendments provided for in Section 1 of this Agreement) caused solely by the existence of Consolidated Priority Indebtedness consisting of Indebtedness of Speedline S.p.A. existing at the time Speedline S.p.A. was acquired by the Company.

More Definitions of Consolidated Priority Indebtedness

Consolidated Priority Indebtedness means the sum of (a) Indebtedness of the Company secured by any Lien other than Liens permitted by Sections 6.9(a)(1) through (8), plus (b) all Indebtedness of the Company's Subsidiaries, provided that, for so long as the cumulative investment of the Company and any of its Subsidiaries in ACT and CTC, measured from the date of acquisition of ACT to the date of any determination hereunder, does not exceed the sum of (i) $25,000,000 plus (ii) an amount equal to investments made by the Company in ACT and CTC after February 1, 1998 which increase the Company's or ACT's ownership interest in CTC above 60%, the Company shall be permitted to exclude from Consolidated Priority Indebtedness an amount equal to the lesser of (y) $15,000,000 or (z) 60% of the Indebtedness outstanding under the CTC Revolving Credit Agreement."

Consolidated Priority Indebtedness means all Priority Indebtedness of the Company and its Restricted Subsidiaries (but not Tax Arrangement Priority

Consolidated Priority Indebtedness means the aggregate amount, without duplication, of (a) all Indebtedness of Cedar L.P. and its Subsidiaries secured by Liens permitted by Section 10.5(i) and (b) all Indebtedness of each Subsidiary (including, without limitation, any Subsidiary that is also an Obligor) (including, without limitation, Guaranties by such Subsidiary of Indebtedness of the Obligors, but, excluding Indebtedness permitted pursuant to clauses (a) through (f) of Section 10.4).

Consolidated Priority Indebtedness means the sum of (a) any Indebtedness of the Borrower secured by a Lien, (b) any Indebtedness of the Borrower’s Restricted Subsidiaries (other than any such Indebtedness owing directly or indirectly to (i) the Administrative Agent and the Lenders and (ii) so long as there is in place an intercreditor agreement satisfactory to the Administrative Agent, the holders of the Borrowers 6.11% Senior Notes, Series A, due November 2008 and 6.31% Senior Notes, Series B, due November 2013) and (c) any Attributable Indebtedness created or incurred in connection with any Sale and Leaseback Transaction.

Consolidated Priority Indebtedness means, as of the date of any determination thereof, without duplication, the aggregate amount of all Priority Indebtedness of the Parent Guarantor and its Restricted Subsidiaries.