Debt Satisfaction definition

Debt Satisfaction means the debt satisfaction on the terms set out in the Debt Satisfaction Agreement.
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Debt Satisfaction. 7.3(d) "Deferred Restricted Stock" 1.3(b) "defined benefit plan" 3.17(c) "defined contribution plan" 3.17(d) "Effective Time" 1.1(b) "employment loss" 3.18(c) "Encumbrance" 3.10(b) "End Date" 9.1(b) "Environmental Laws" 3.13(d)(iv) "Environmental Liabilities and Costs" 3.13(e) "Equity Commitment Letter" 4.7 "ERISA" 3.17(a) "Exchange Act" 3.3 "Exchange Agent" 1.4(a) "Facilities" 3.10(a) "Facility" 3.10(a) "filed" 3.6(a) "filings" 3.6(a) "Financial Advisor" 3.2(d) "Financial Statements" 3.7 "Financing Schedule" 4.7 "GAAP" 3.7 "GCL" 1.1(a) "Global Settlement" 3.13(d)(v) "golden parachute" 3.15(a)(viii) "Governmental Authority" 3.13(d)(vi) "Governmental Agreements" 3.13(b) "Hazardous Material" 3.13(d)(vii) "HIPAA" 3.13(i) "HSR Act" 3.3 "in the ordinary course of business 10.10(c) "Income Tax Return" 3.12(f) "Income Taxes" 3.12(g) "Indemnified Parties" 6.4(a) "Intellectual Property" 3.21(d) "knowledge" 10.9 "Land Use Requirement 8.2(c)(ii) "LC" 9.2(c)(i) "LC Issuer" 9.2(c)(i) "LC Proceeds" 9.2(c)(i) "Lease" 3.10(c) "Leased Real Property" 3.10(a) "Leases" 3.10(c)
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Debt Satisfaction. Section 6.16.3 “DGCL” Recitals
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Examples of Debt Satisfaction in a sentence

  • I argue debt is too refined to be easily ascertained, the law can treat all debt like weak debt.Reciprocal Debt Satisfaction serves to explain why the nondonative collabo- rative agreements considered earlier (such as “I’ll enlist, if you enlist”) do not qualify as quid pro quo exchanges.

  • However, once the nature of exchange has been exposed—and Recip- rocal Debt Satisfaction and No Residue articulated—we can appreciate that the appeal of the form depends on both the desirability and availability of the species of closure that it promises.

  • Only if the obligations are debts could B resist paying on the grounds that A cannot fulfill each of the two agreements with a single performance.77Having established the significance of classifying an obligation as a debt, even when the performance conditions are nonrepeatable, we are nearly done with our treatment of Reciprocal Debt Satisfaction, the first element of quid pro quo exchange.

  • The Purchase Price will be paid by the Purchaser to the Company through a Notice of Debt Satisfaction in the form attached hereto as Exhibit A, evidencing the cancellation of the Note and the full satisfaction all amounts due to the Purchaser by the Company under the Note.

  • For example, he says that “the doctrine of consider- ation is a not very successful attempt to generalize and reduce to a rule of thumb that ties assent to an agreement that appears to contemplate reciprocal payment rela- tions, relations which may, in turn, be understood in terms of Reciprocal Debt Satisfaction and No Residue, the agreement satisfies the consideration require- ment, regardless of what seems to have motivated the parties to lend their assent.

  • This Acknowledgment of Debt Satisfaction and Full Release is dated and effective as of the date first written above.

  • It is, I have said, a necessary condition of quid pro quo exchanges that the parties un- derstand their performances as satisfying Reciprocal Debt Satisfaction, a relation I have tried to explicate.

  • It also sheds light on the first condition, Reciprocal Debt Satisfaction, for when services are rendered in the course of an exchange, the debts of grati- tude that otherwise might arise if the services had been gratuitously rendered are displaced by payment obligations that are reciprocally satisfied.

  • Armed with the more fine-grained notion of debt obligation, how- ever, we will at last be able to cordon off exchanges.The first element of quid pro quo, Reciprocal Debt Satisfaction, invokes the notion of debt obligations.

  • Each Shareholder has all requisite power, legal capacity and authority to execute, deliver and perform such Shareholder’s obligations under this Agreement, including the transfer and sale of the Shares to the Company and the Debt Satisfaction.

Related to Debt Satisfaction

  • Condition Satisfaction Date shall have the meaning set forth in Section 7.2.

  • Review Satisfaction Date means, with respect to any Asset Review, the first date on which (a) the Delinquency Percentage for any Payment Date exceeds the Delinquency Trigger and (b) a Noteholder Direction with respect to such Asset Review has occurred.

  • Satisfaction Date has the meaning set forth in Section 2.6.

  • Debt Service Requirements means the aggregate principal payments (whether at maturity or pursuant to scheduled mandatory sinking fund redemption requirements) and interest payments on the Bonds for the period of time for which calculated; provided, however, that for purposes of calculating such amount, principal and interest shall be excluded from the determination of Debt Service Requirements to the extent that such principal or interest is payable from amounts deposited in trust, escrowed or otherwise set aside for the payment thereof with the Paying Agent or other commercial bank or trust company located in the State and having full trust powers.

  • Senior Step Down Conditions As of the first Distribution Date as to which any decrease in the Senior Prepayment Percentage applies, (i) the outstanding principal balance of all Mortgage Loans delinquent 60 days or more (including Mortgage Loans in foreclosure, REO Property and Mortgage Loans the mortgagors of which are in bankruptcy) (averaged over the preceding six month period), as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to the Mortgage Loans do not exceed (a) commencing with the Distribution Date on the fifth anniversary of the first Distribution Date, 30% of the Original Subordinate Principal Balance, (b) commencing with the Distribution Date on the sixth anniversary of the first Distribution Date, 35% of the Original Subordinate Principal Balance, (c) commencing with the Distribution Date on the seventh anniversary of the first Distribution Date, 40% of the Original Subordinate Principal Balance, (d) commencing with the Distribution Date on the eighth anniversary of the first Distribution Date, 45% of the Original Subordinate Principal Balance, and (e) commencing with the Distribution Date on the ninth anniversary of the first Distribution Date, 50% of the Original Subordinate Principal Balance.

  • Debt Service Requirement means the sum of (i) interest expense (whether paid or accrued and including interest attributable to Capital Leases), (ii) scheduled principal payments on borrowed money, and (iii) capitalized lease expenditures, all determined without duplication and in accordance with GAAP.

  • Debt Service means, with respect to any particular period of time, scheduled principal and interest payments under the Note.

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Release Conditions mean the following conditions: (i) Company has received the Executive’s executed Release and (ii) any rescission period applicable to the Executive’s executed Release has expired.

  • Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cutoff Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.

  • Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the Principal Remittance Amount for such Distribution Date and (y) the Excess Overcollateralized Amount.

  • Debt bondage means the status or condition of a debtor arising from a pledge by the debtor of his or her personal services or of those of a person under his or her control as a security for debt, if the value of those services as reasonably assessed is not applied

  • Aggregate Debt Service means, with respect to any particular period of time, the sum of (a) the Debt Service, (b) the Mortgage Debt Service and (c) the Other Mezzanine Debt Service.

  • Pro Forma Debt Service means with respect to the Borrower and the Restricted Subsidiaries, on a consolidated basis, with respect to the next succeeding complete twelve (12) month period following the calculation date, and after giving effect to any Interest Rate Hedge Agreements and Eurodollar Advances, the amount of all (i) scheduled payments of principal on Indebtedness for Money Borrowed for such period (including imputed principal payments with respect to Capitalized Lease Obligations), determined on the basis of the aggregate amount of Indebtedness for Money Borrowed outstanding as of the date of calculation and giving effect to any mandatory reductions in the Commitments and the operation of the other terms of this Agreement (or other instruments or agreements governing Indebtedness for Money Borrowed) during such next succeeding twelve (12) month period, (ii) cash interest payable (including imputed interest with respect to Capitalized Lease Obligations) with respect to Indebtedness for Money Borrowed of such Persons, (iii) fees payable under this Agreement and the other Loan Documents (but specifically excluding fees paid during previous periods but amortized during such period in accordance with GAAP), and (iv) other payments (including fees) payable by such Persons during such period in respect of Indebtedness for Money Borrowed (other than voluntary prepayments under Section 2.7 hereof). For purposes of this definition, where interest payments for the twelve (12) month period immediately succeeding the calculation date are not fixed by way of Interest Rate Hedge Agreements, Eurodollar Advances, or otherwise for the entire period, interest shall be calculated on such Indebtedness for Money Borrowed for periods for which interest payments are not so fixed at the Eurodollar Basis (as determined on the date of calculation and based on the then current adjustment under Section 2.3(f) hereof) for a Eurodollar Advance having an Interest Period of twelve (12) months; provided, however, that if such Eurodollar Basis cannot be determined in the reasonable opinion of the Administrative Agent, such interest shall be calculated using the Base Rate Basis as then in effect.

  • Collateral Default Amount means, with respect to any Distribution Date, the product of the Investor Default Amount for such Distribution Date and the Collateral Floating Percentage.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Discharge of Senior Lender Claims means, except to the extent otherwise provided in Section 5.7 below, payment in full in cash (except for contingent indemnities and cost and reimbursement obligations to the extent no claim has been made) of (a) all Obligations in respect of all outstanding Senior Lender Claims and, with respect to letters of credit or letter of credit guaranties outstanding thereunder, delivery of cash collateral or backstop letters of credit in respect thereof in compliance with the Credit Agreement, in each case after or concurrently with the termination of all commitments to extend credit thereunder and (b) any other Senior Lender Claims that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid; provided that the Discharge of Senior Lender Claims shall not be deemed to have occurred if such payments are made with the proceeds of other Senior Lender Claims that constitute an exchange or replacement for or a refinancing of such Obligations or Senior Lender Claims. In the event the Senior Lender Claims are modified and the Obligations are paid over time or otherwise modified pursuant to Section 1129 of the Bankruptcy Code, the Senior Lender Claims shall be deemed to be discharged when the final payment is made, in cash, in respect of such indebtedness and any obligations pursuant to such new indebtedness shall have been satisfied.

  • Debt Yield as of any date of determination, the percentage obtained by dividing:

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Payment Conditions means, at the time of determination with respect to any specified transaction or payment, that:

  • Funding Conditions With respect to any proposed Funding Date, the following conditions:

  • Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to:

  • Class C Coverage Tests means the Class C Interest Coverage Test and the Class C Par Value Test.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.