Defeased Debt definition

Defeased Debt means that portion of debt which has already been defeased by depositing collateral in the form of obligations supported by the credit of the United States government in such amounts as are required and permitted under the terms of the applicable loan documents.

Defeased Debt has the meaning assigned to such term in the definition of “Adjusted Consolidated Total Indebtedness”.

Defeased Debt means any Debt which has been defeased (a)(i) in accordance with generally accepted accounting principles or (ii) pursuant to the deposit of cash, or debt securities backed by the full faith and credit of the United States, in either case in an amount sufficient to satisfy all such Debt at maturity or redemption, as applicable, and all payments of interest and premium, if any, in a trust or account created or pledged for the sole benefit of the holders of such Debt, and subject to no other Lien, and (b) in accordance with the other applicable terms of the instrument governing such Debt.

Examples of Defeased Debt in a sentence

• To the extent the Consolidated Operating Partnership has Defeased Debt, both the underlying debt and interest payable thereon and the financial assets used to defease such debt and interest earned thereon shall be excluded from calculations of the foregoing financial covenants.

• NewCo and the Contributed Subsidiaries expressly do not retain or assume any of the following Liabilities of the Company or its Subsidiaries (collectively, the “Excluded Liabilities”): all Retained Debt and Defeased Debt (as such terms are defined in the Merger Agreement), any obligations of the Real Estate Entity (including any obligations under the Facility Master Lease) and all real estate conditions and Liabilities directly related to and arising as a result of the ownership of the Real Estate Assets.

• As of the end of any fiscal quarter, permit the ratio of (a) the Consolidated Debt of ShoLodge and its Subsidiaries (excluding Defeased Debt) as of such fiscal quarter end to (b) the sum of (i) the Consolidated Net Worth of ShoLodge and its Subsidiaries plus (ii) the Consolidated Debt of ShoLodge and its Subsidiaries (excluding Defeased Debt), each as of such fiscal quarter end, to exceed 0.69 to 1.00.

• Description Amount Plume Street Defeased Debt (related to office building sale) $ 29,502,758 RiverTown Special Assessment 3,449,754 Debt related to various Community Development Districts* 15,362,566 Hayden Lane I, Ltd.

More Definitions of Defeased Debt

Defeased Debt as defined in the definition of “Indebtedness”.

Defeased Debt means any Indebtedness of Parent or the Restricted Subsidiaries which, at any relevant time, is subject to legal or covenant defeasance in a manner which is reasonably acceptable to the Administrative Agent.

Defeased Debt means any Indebtedness of the Corporation or any of its Subsidiaries which (i) is specifically designated by the Corporation as “Defeased Debt” pursuant to an officer’s certificate from an Authorized Officer of the Corporation delivered to the Administrative Agent and (ii) has been properly defeased in accordance with the terms of the documentation governing such Indebtedness.

Defeased Debt means (a) the $58,300,000 aggregate principal amount of Showboat's First Mortgage Bonds due 2008, (b) the $2,400,000 aggregate outstanding principal amount of Showboat's Senior Subordinated Notes due 2009, and (c) any other Indebtedness of Parent and its Subsidiaries which, at any relevant time, is subject to legal or covenant defeasance in a manner which is reasonably acceptable to the Administrative Agent.

Defeased Debt any Indebtedness of a Group Member that has been legally or economically fully defeased by such Group Member in a manner that is reasonably acceptable to the Administrative Agent.

Defeased Debt means (a) the Indebtedness of the Borrower ($5,000,000 as of June 30, 2008) for its 9.35% medium-term notes due 2019 that is the subject of a covenant defeasance pursuant to Section 4.03 of the indenture therefor dated August 15, 1989, as amended and restated as of August 15, 1990, (b) the Indebtedness of the Borrower ($8,500,000 as of June 30, 2008) for its 8.38% medium-term notes due 2015 that is the subject of a covenant defeasance pursuant to Section 4.03 of the indenture therefor dated August 15, 1989, as amended and restated as of August 15, 1990, and (c) the Indebtedness of the Borrower ($17,105,000 as of June 30, 2008) for its 6.86% medium-term notes due 2009 that is the subject of a covenant defeasance pursuant to Section 4.03 of the indenture therefor dated August 15, 1989, as amended and restated as of August 15, 1990.

Defeased Debt means (a) the Indebtedness of the Borrower ($5,000,000 as of December 31, 2009) for its 9.35% medium-term notes due 2019 that is the subject of a covenant defeasance pursuant to Section 4.03 of the indenture therefor dated August 15, 1989, as amended and restated as of August 15, 1990 and (b) the Indebtedness of the Borrower ($8,500,000 as of December 31, 2009) for its 8.38% medium-term notes due 2015 that is the subject of a covenant defeasance pursuant to Section 4.03 of the indenture therefor dated August 15, 1989, as amended and restated as of August 15, 1990.