Debt Maturity Reserve means a Reserve with respect to, if not refinanced to a maturity date or otherwise modified or amended such that the payment thereof is required no earlier than at least 91 days after the Maturity Date, the aggregate principal amount of Indebtedness incurred pursuant to Sections 9.04(ii) and (iii) with an aggregate principal amount outstanding in excess of $20,000,000 and that remains outstanding as of the date that is 91 days prior to the stated maturity thereof. The Debt Maturity Reserve shall become effective no earlier than on the 91st day prior to the date of the applicable payment in respect of any such Indebtedness incurred pursuant to Sections 9.04(ii) and (iii) with an aggregate principal amount outstanding in excess of $20,000,000. The Debt Maturity Reserve shall be established automatically and, for the avoidance of doubt, not subject to waiver by the Administrative Agent in the exercise of its Permitted Discretion, on the date that is 91 days prior to the stated maturity of any such Indebtedness incurred pursuant to Sections 9.04(ii) and (iii) with an aggregate principal amount outstanding in excess of $20,000,000. The Debt Maturity Reserve shall be reduced by the amount of any subsequent payment of principal in respect of any such Indebtedness incurred pursuant to Sections 9.04(ii) and (iii) with an aggregate principal amount outstanding in excess of $20,000,000 that occurs after the date of the imposition of such Reserve and the Debt Maturity Reserve shall be immediately eliminated if any subsequent to the date of imposition of such Reserve, any such applicable payment is refinanced or otherwise modified or amended such that the payment thereof is required no earlier than at least 91 days after the Maturity Date.
Debt Maturity Reserve means during any Debt Reserve Period, an amount equal to the then outstanding principal balance of any Indebtedness of the type described in clause (t) of the definition of “Permitted Indebtedness” outstanding on the date which is ninety (90) days prior to the maturity date of such Indebtedness, which Debt Maturity Reserve shall remain in place (but shall be reduced to give effect to any payments of Indebtedness made during such Debt Reserve Period to the extent such payments are permitted hereunder) until the earlier of the repayment of such Indebtedness (including as a result of refinancing of such Indebtedness so long as the term of such refinancing Indebtedness (any such refinancing Indebtedness, the “Refinancing Debt”) is at least one hundred eighty (180) days) or the extension of the maturity date of such Indebtedness to a date which is at least one hundred eighty (180) days after the then maturity date of such Indebtedness.
Debt Maturity Reserve means, as of the date of determination, a Reserve against the U.S. Borrowing Base equal to the aggregate principal amount of any Indebtedness of any one or more of the Company or any Subsidiary in an aggregate principal amount exceeding $150 million maturing within 60 days of the date of determination.
Examples of Debt Maturity Reserve in a sentence
If at any time the Debt Maturity Reserve Liquidity Test is not satisfied when in effect, the Borrower shall, on the sooner of the first Business Day after the Administrative Agent’s demand or the first Business Day after the Borrower has knowledge thereof, repay Revolving Loans and/or Cash Collateralize the L/C Obligations in an amount sufficient so that the Debt Maturity Reserve Liquidity Test is satisfied.
Subject to the provisions of subclause (6) of Clause 5 and Clauses 29 and 30, this Agreement shall expire on the expiration or sooner determination of the last of mining leases Nos.
Notwithstanding the foregoing or anything to the contrary herein, the Administrative Agent shall impose the Debt Maturity Reserve.
More Definitions of Debt Maturity Reserve
Debt Maturity Reserve means, as of the date of determination, an Availability Reserve equal to the aggregate principal amount of any Debt incurred pursuant to Section 8.01(a)(ii) maturing within 60 days of the date of determination (so long as the aggregate principal amount of such Debt outstanding as of such date of determination is equal to or greater than $100,000,000).
Debt Maturity Reserve means an Availability Reserve in an amount not to exceed the outstanding balance of Debt of the Loan Parties for borrowed money maturing (A) prior to the Extended Termination Date and (B) within sixty (60) days of any date of determination of the Debt Maturity Reserve; provided that such Debt Maturity Reserve shall be eliminated when (i) such Debt is repaid, refinanced or extended as provided herein or (ii) provision for the repayment or refinancing of such Debt (other than through proceeds of Revolving Advances) shall have been made to the satisfaction of the Co-Collateral Agents in their Permitted Discretion.
Debt Maturity Reserve means, as of the date of determination, an Availability Reserve equal to the aggregate principal amount of any Inside Maturity Notes maturing within 60 days of the date of determination.
Debt Maturity Reserve means, as of any date of determination thereof, an Availability Reserve in an amount equal to the outstanding balance of Material Indebtedness, or any notes, instrument or other documents issued in exchange thereof or refinancing or replacing same. The Debt Maturity Reserve for any Material Indebtedness shall be established on the ninetieth (90th) day prior to the earlier of (i) the current stated maturity date of such Material Indebtedness or (ii) the stated maturity date of the Indebtedness refinanced or replaced in connection with any Permitted Refinancing of such Material Indebtedness or any notes, instruments or other documents issued in exchange thereof or refinancing or replacing the same, and shall be eliminated when all of such Material Indebtedness and any notes, instruments or other documents issued in exchange thereof or refinancing or replacing the same are repaid, or refinanced or extended such that the then stated maturity date of the Indebtedness evidenced thereby is more than ninety (90) days after the date set forth in clause (a) of the definition of Maturity Date.
Debt Maturity Reserve means a Reserve equal to the aggregate principal amount of the Senior Notes to the extent outstanding 60 days prior to the stated maturity thereof.
Debt Maturity Reserve means, during any Debt Reserve Period, an amount equal to the excess (if any) of (a) the outstanding principal amount of any Specified Debt over (b) $100,000,000 (reduced to give effect to any Repayment of such Indebtedness made during such Debt Reserve Period to the extent such Repayment is permitted hereunder). The Debt Maturity Reserve shall remain in place at all times during the Debt Reserve Period. The release of any Debt Maturity Reserve with respect to any one category of Specified Debt shall not derogate from the Administrative Agent’s right to impose a subsequent Debt Maturity Reserve with respect to any other category of Specified Debt in accordance with the terms hereof.
Debt Maturity Reserve means, during any Debt Reserve Period, an amount equal to the then outstanding principal balance of the Indebtedness under the 2019 Senior Notes (in the case of the 2019 Notes Reserve Period) and the existing senior notes due 2021 Senior Notes (in the case of the 2021 Notes Reserve Period) on the date which is ninety-one (91) days prior to the maturity date of such Indebtedness, reduced to give effect to any payments of repayments of such Indebtedness made during such Debt Reserve Period to the extent such payments are permitted hereunder (including as a result of any Permitted Refinancing of such Indebtedness).