Continuing Debt definition
Examples of Continuing Debt in a sentence
However, Laureate shall pay all regularly scheduled installments of interest and principal which were due or accrued under the Continuing Debt and the Existing Encumbrances prior to and including the Effective Time.
By its acceptance of the Accepted Collateral, SRMI assumes and agrees to pay, perform and discharge all of the Continuing Debt and Continuing Obligations (other than Continuing Obligations which are only capable of performance by AFHI or a Continuing Subsidiary) and agrees to indemnify and hold harmless AIAI, AFHI and the other Discharged Credit Parties from and against any and all Losses incurred by any of them as a result of any Continuing Debt or any Continuing Obligations.
The Adjusted Closing Balance Sheet, when delivered by NHP to Investments and Laureate Properties, shall be deemed conclusive and binding on the parties, but only for purposes of determining (i) the amount of the Continuing Debt and Existing Encumbrances utilized in determining the preliminary Equity Value, and (ii) the Closing Cash Adjustment.
The parties recognize that in -------------------------------- order to transfer certain items of Personal Property and to comply with certain closing conditions (including the granting of a security interest in Personal Property) set forth herein, Laureate must obtain certain approvals from the holders, credit enhancers, trustees and the like of the Continuing Debt and the Existing Encumbrances.
The Company shall deliver written notice to Parent on or prior to the Closing Date setting forth the aggregate outstanding amount of Continuing Debt, if any, as of the Closing Date.
The Administrative Agent shall, from and after the Effective Time, treat the Specified Debt as fully paid and discharged in connection with the performance of its duties to in respect of Term Debt and Demand Debt, including the exercise of any rights or remedies against any of the Credit Parties and the distribution of any sums it receives in payment of the Continuing Debt.
On the Closing Date, the proceeds of the Incremental Term Facility will be used to finance in part the Acquisition (including the repayment of all existing indebtedness of the Acquired Business other than the Continuing Debt) and the payment of fees and expenses in connection with the Acquisition.
The Property is presently encumbered by ------------------ certain deeds of trust and certain other security instruments other than the Continuing Debt (individually and collectively, the "Existing Encumbrances").
No default exists under any of the Continuing Debt nor has any event occurred which, with the passage of time or giving of notice, or both, would constitute a default under the Continuing Debt.
All Existing Indebtedness (other than Continuing Debt), together with all interest, all prepayment premiums and other amounts due and payable with respect thereto, has been paid in full and the commitments in respect of such Indebtedness have been terminated and all Liens securing obligations under such Indebtedness have been released.