Debt Prepayment definition

Debt Prepayment means the prepayment by the Borrower on the Closing Date of any Indebtedness outstanding under the Existing Credit Agreement.

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Debt Prepayment means, with respect to any Transfer of property, the application by the Company or its Subsidiaries of cash in an amount equal to the Net Proceeds Amount with respect to such Transfer (i) first, to pay Senior Debt of the Company that is secured by a Lien on the assets of the Company and (ii) then, if such secured Senior Debt has been paid off, to pay off Senior Debt of the Company that is unsecured and ranks pari passu to the Notes, other than, in each case, Senior Debt owing to the Company, any of its Subsidiaries or any Affiliate and Senior Debt in respect of any revolving credit or similar credit facility providing the Company or any of its Subsidiaries with the right to obtain loans or other extensions of credit from time to time, except to the extent that in connection with such payment of Senior Debt the availability of credit under such credit facility is permanently reduced by an amount not less than the amount of such proceeds applied to the payment of such Indebtedness.

Debt Prepayment means the payment in cash, with proceeds of the IPO, of (a) all principal amounts of Indebtedness outstanding under, together with all interest, premiums, penalties and fees due in connection with prepayment of, the Existing Mezzanine Loans, (b) Indebtedness outstanding under the NY/CA Mortgage Loan, together with all interest, premiums, penalties and fees due in connection with such prepayment, and (c) Indebtedness outstanding under the FL Mortgage Loan, together with all interest, premiums, penalties and fees due in connection with such prepayment such that the aggregate principal amount of Indebtedness repaid under clauses (a), (b) and (c) shall equal an amount not less than $205,000,000.

Examples of Debt Prepayment in a sentence

• In the event of a Transfer where the Company has elected to apply all or a portion of the Net Proceeds Amount of such Transfer as a Debt Prepayment Application pursuant to Section 10.5(b), the Company shall, no later than the 305th day following the date of such Transfer, give written notice of such event (an “Asset Disposition Prepayment Event”) to each holder of Notes.

• If so accepted by any holder of a Note, such offered prepayment (equal to not less than such holder’s Ratable Portion of the net proceeds in respect of such Debt Prepayment Transfer) shall be due and payable on the Transfer Prepayment Date.

• No Make-Whole Amount shall be payable in connection with any Debt Prepayment Application made with respect to the Notes from the Net Proceeds Amount (or portion thereof) arising from asset dispositions.

• If so accepted by any holder of a Note, such Prepayment Offer equal to not less than such holder’s Ratable Portion of the Net Proceeds Amount in respect of such Debt Prepayment Transfer, together with any additional amount offered to and accepted by such holder pursuant to the following sentence shall be due and payable on the Transfer Prepayment Date.

• If so accepted by any holder of a Note, such offered prepayment (equal to not less than such holder’s Ratable Portion of the Net Proceeds in respect of such Debt Prepayment Transfer) shall be due and payable on the Transfer Prepayment Date.

• If any holder of a Note rejects or is deemed to have rejected such offer of prepayment in accordance with the preceding sentence, then, for the purposes of determining compliance with Section 10.7(e), the Company nevertheless will be deemed to have made a Debt Prepayment Application in an amount equal to the Ratable Portion for such Note.

• If any holder of a Note rejects or is deemed to have rejected such offer of prepayment in accordance with the preceding sentence, then, for the purposes of determining compliance with Section 10.3(g), the Company nevertheless will be deemed to have made a Debt Prepayment Application in an amount equal to the Ratable Portion for such Note.

• If the Net Proceeds Amount for any Transfer is applied to a Debt Prepayment Application or a Property Reinvestment Application within 90 days before or 365 days after such Transfer, then such Transfer, only for the purpose of determining compliance with paragraph (c) of this Section 10.7 as of any date, shall be deemed not to be an Asset Disposition.

• In the event any Debt Prepayment Application is to be used to make an offer (a “Transfer Prepayment Offer”) to prepay Notes pursuant to Section 10.6 of this Agreement (a “Debt Prepayment Transfer”), the Company will give written notice of such Debt Prepayment Transfer to each holder of Notes.

• A Debt Prepayment Notice shall contain, and shall constitute, an irrevocable offer to prepay, at the election of each holder, a portion of the Notes held by such holder equal to such holder’s Ratable Portion of the Net Proceeds Amount in respect of such Debt Prepayment Transfer on a date specified in such notice (the “Transfer Prepayment Date”) that is not less than 30 days and not more than 60 days after the date of such notice.

More Definitions of Debt Prepayment

Debt Prepayment any prepayment of any Debt for Borrowed Money prior to the scheduled maturity or due date thereof, including any optional or voluntary redemption, repurchase or other satisfaction of such Debt for Borrowed Money.

Debt Prepayment means, with respect to any Transfer of property, the application by the Company or its Subsidiaries of cash in an amount equal to the Net Proceeds Amount with respect to such Transfer (i) first, to pay Senior Debt of the Company that is secured by a Lien on the assets of the Company so secured and (ii) then, if such secured Senior Debt has been paid off, to pay off Senior Debt of the Company that is unsecured and ranks pari passu to the Notes pro rata among all issuances of Senior Debt, other than, in each case, Senior Debt owing to the Company, any of its Subsidiaries or any Affiliate and Senior Debt in respect of any revolving credit or similar credit facility providing the Company or any of its Subsidiaries with the right to obtain loans or other extensions of credit from time to time, except to the extent that in connection with such payment of Senior Debt the availability of credit under such credit facility is permanently reduced by an amount not less than the amount of such proceeds applied to the payment of such Indebtedness.

Debt Prepayment means any payment of the outstanding principal amount of Notes, together with accrued interest and any Additional Amounts, if any, which payment shall be applied to the remaining scheduled amortization payments of the Notes in direct order of maturity, with such payment being made in accordance with the limitations in Section 9.1 (Mandatory Prepayment With Excess Cash), and pro rata among the Holders of Notes of the relevant Series of Notes based on the next remaining scheduled amortization payments.

Debt Prepayment. 5.02 "Development Agreements" 3.12(d) "ESOP" Recitals "Financial Statements" 3.06(a) "Financing" 5.08(c) "Food Depot" 3.20 "Food Depot Interest" 3.20 "Indemnitee" 8.03(a) "Indemnitor" 8.03(a) "Insurance Policies" 3.16 "Interim Financial Statements" 3.06(a)(ii) "Leased Real Property" 3.12(b) "Note Purchase Agreement" 3.04(b) "Notice" 8.03(a) "Option" Recitals "Option Shares" Recitals "Owned Real Property" 3.12(a) "PBGC" 3.10(d) "▇▇▇▇ Action" 3.10(j) "Preferred Stock Redemption" 5.02 "Proxy/Tender Offer Statement" 3.23 "Purchase" 2.01 "Purchase Price" 2.02 "Putable Shares" 3.03(c) "Real Property Leases" 3.12