Consolidated Senior Secured Funded Debt definition

Consolidated Senior Secured Funded Debt as of any date of determination thereof, all Consolidated Funded Debt that is secured by a Lien on any asset of the Parent Borrower or any of its Subsidiaries, other than Consolidated Funded Debt that is expressly subordinated in right of payment to the Indebtedness of the Parent Borrower or any of its Subsidiaries under this Agreement.
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Consolidated Senior Secured Funded Debt means, at any date, Consolidated Funded Debt as of such date that is (a) secured by a Lien on any assets of the Borrower and its Subsidiaries and (b) not subordinated to the Obligations.
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Consolidated Senior Secured Funded Debt means Consolidated Senior Funded Debt that is secured by a pledge of collateral interest (including the Loans and Obligations under this Credit Agreement).
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Examples of Consolidated Senior Secured Funded Debt in a sentence

  • As of the end of any fiscal quarter, permit the Consolidated Senior Secured Funded Debt Ratio to be greater than 3.00 to 1.00.

  • As of the end of any fiscal quarter, permit the Consolidated Senior Secured Funded Debt Ratio to be greater than 3.25 to 1.00.


More Definitions of Consolidated Senior Secured Funded Debt

Consolidated Senior Secured Funded Debt means, on any date, (a) the Consolidated Total Funded Debt on such date less (b) to the extent included in the Consolidated Total Funded Debt on such date, (i) the Permitted Convertible Notes outstanding on such date, (ii) the Permitted Call Spread Hedge Swap Contracts outstanding on such date and (iii) any other Indebtedness of the Company or a Domestic Subsidiary that is a Subsidiary Guarantor outstanding on such date if (A) such Indebtedness (and any related Guarantee) (x) is not secured by any Lien on any assets of the Company and the Subsidiaries or (y) is secured by Liens on assets constituting Permitted Refinancing Indebtedness Collateral of the Company or one or more Domestic Subsidiaries (and by no other assets of the Company and the Subsidiaries) and such Liens (or the right to receive proceeds and distributions on account thereof) are subordinated as contemplated by the definition of the term “Second Lien Intercreditor Agreement”, (B) such Indebtedness is not Guaranteed by any Subsidiary that is not a party to the Guarantee Agreement and a guarantor thereunder of all the Secured Obligations and (C) such Indebtedness does not mature and is not required to be repaid, prepaid, redeemed, repurchased or defeased, whether on one or more fixed dates, upon the occurrence of one or more events or at the option of any holder thereof (except, in each case, upon the occurrence of an event of default or a change in control) prior to the date 180 days after the Maturity Date.
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Consolidated Senior Secured Funded Debt means the outstanding principal amount of all Loan Obligations hereunder and the principal amount of all Funded Debt of the Consolidated Group secured by liens permitted under subsections (c), (i), (o), (p), (q), or (s) of Section 8.01 (it being understood that outstanding letters of credit shall not constitute Funded Debt unless such letters of credit have been drawn on by the beneficiary thereof and the resulting obligations have not been paid by the Borrower), but excluding, for purposes hereof, any such Funded Debt that is Non-Recourse Indebtedness other than Funded Debt relating to a Securitization Transaction which shall be considered “Consolidated Senior Secured Funded Debt” hereunder even it if is Non-Recourse Indebtedness. Consolidated Senior Secured Funded Debt shall be calculated on a Pro Forma Basis pursuant to Section 1.03(b).
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Related to Consolidated Senior Secured Funded Debt

  • Consolidated Senior Secured Debt means, as of any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a Lien on any asset or property of any Loan Party.

  • Consolidated Senior Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Senior Secured Indebtedness on such date to (b) the sum, without duplication, of (i) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date plus (ii) the amount of Specified Non-Recurring Charges taken during the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.

  • Senior Secured Indebtedness means, as of any date of determination, the principal amount of any Indebtedness for borrowed money that is secured by a Lien.

  • Consolidated First Lien Debt means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a first priority Lien on the Collateral.

  • Consolidated First Lien Secured Debt means Consolidated Total Debt as of such date that is not Subordinated Indebtedness and is secured by a Lien on all of the Collateral that ranks on an equal priority basis (but without regard to the control of remedies) with Liens on all of the Collateral securing the Obligations.

  • Consolidated Total Funded Indebtedness (i) obligations under any derivative transaction or other Hedging Agreement, (ii) undrawn Letters of Credit, (iii) Earn-Outs to the extent not then due and payable and if not recognized as debt on the balance sheet in accordance with GAAP and (iv) leases that would be characterized as operating leases in accordance with GAAP on the date hereof.

  • Consolidated First Lien Net Debt means Consolidated Total Net Debt minus the sum of (i) the portion of Indebtedness of the Borrower or any Restricted Subsidiary included in Consolidated Total Net Debt that is not secured by any Lien on the Collateral and (ii) the portion of Indebtedness of the Borrower or any Restricted Subsidiary included in Consolidated Total Net Debt that is secured by Liens on the Collateral, which Liens are expressly subordinated or junior to the Liens securing the Obligations.

  • Consolidated Secured Debt means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a Lien on the Collateral.