Eligible Secured Debt definition

Eligible Secured Debt means (a) Indebtedness of Borrower in respect of the Loans, (b) any other Indebtedness for borrowed money of Borrower incurred to finance the acquisition, construction, installation or improvement of capital assets (including Fiber and Conduit) that constitute part of the Collateral or the Real Estate Assets and (c) any Indebtedness for borrowed money of Borrower incurred to refinance Indebtedness referred to in clause (b) above; PROVIDED that (i) in the case of any Indebtedness described in clause (b) above, such Indebtedness is incurred within 270 days of such acquisition or the completion of such construction, installation or improvement and the principal amount thereof does not exceed 100% of the aggregate cost of such acquisition, construction, installation or improvement, (ii) in the case of any Indebtedness described in clause (b) or (c) above, the holder or holders of such Indebtedness (or a duly authorized representative thereof on behalf of such holders) shall have become a party to the Collateral Agency and Intercreditor Agreement as provided therein, (iii) in the case of any Indebtedness described in clause (b) or (c) above, at the time any such Indebtedness is incurred (including pursuant to any increase in the principal amount thereof) no Default shall have occurred and be continuing (both before and after giving effect to such incurrence) and Borrower shall be in compliance with each of the covenants set forth in Section 5.1(o) determined on a pro forma basis as of the last day of the most recently ended fiscal quarter of Borrower for which financial statements are available as though such Indebtedness had been incurred on the last day of such fiscal quarter for testing compliance with each such covenant, and Borrower shall have delivered to Lender a reasonably detailed calculation demonstrating such compliance, and (iv) in the case of any Indebtedness referred to in clause (b) or (c) above, such Indebtedness is not guaranteed by any Person (other than pursuant to a Guaranty) or secured by any Lien (other than Liens granted under the Collateral Documents).
Sample 1
Eligible Secured Debt means (a) Other Senior Indebtedness, (b) Other Vendor Indebtedness, (c) any other Indebtedness for borrowed money of the Purchaser incurred to finance payments in respect of fees related to or interest in respect of Other Vendor Indebtedness, and (d) any Indebtedness for borrowed money of the Purchaser incurred to refinance Indebtedness referred to in clause (a), (b) or (c) above in compliance with the Refinancing Terms; provided that:
Sample 1
Eligible Secured Debt means (a) Indebtedness of the Borrower in --------------------- respect of the Loans, (b) any other Indebtedness for borrowed money of the Borrower incurred to finance the purchase price of (i) equipment purchased by the Borrower and its Subsidiaries (other than pursuant to the Purchase Agreement) for use in their wireless telecommunications and data networking business and/or (ii) services purchased by the [*] Certain material (indicated by an asterisk) has been omitted from this document pursuant to a request for confidential treatment. The omitted material has been filed separately with the Securities and Exchange Commission.
Sample 1

Examples of Eligible Secured Debt in a sentence

  • Holdings will not own or acquire any assets (other than shares of common stock of the Borrower, cash and Permitted Investments) or incur any liabilities (other than liabilities under the Loan Documents, liabilities under any other credit agreement governing Eligible Secured Debt, liabilities imposed by law, including tax liabilities, other liabilities incidental to its existence, liabilities in respect of Permitted Holdings Debt or the ChaseTel Earnout and Guarantees of Eligible Parent Debt).

  • Notwithstanding the foregoing or anything to the contrary contained in this Agreement, Borrower shall not, and shall not permit any Subsidiary of Borrower to, incur, create, assume or permit to exist any Indebtedness which is secured by any Lien created, evidenced or governed by any of the Collateral Documents other than the Obligations and other Eligible Secured Debt.

  • Upon the request of Purchaser and prior to the incurrence of any Eligible Secured Debt, the parties hereto agree to negotiate in good faith and enter in the Collateral Agency and Intercreditor Agreement, after which the collateral agent established under such agreement shall hold the collateral securing the Obligations as well as the indebtedness arising under such Eligible Secured Debt.


More Definitions of Eligible Secured Debt

Eligible Secured Debt means (a) Debt of the Borrower in respect of the Loans, (b) any other Debt for borrowed money of the Borrower incurred to finance the acquisition, construction, installation or improvement of capital assets (including Fiber and Conduit) that constitute part of the Collateral or the Real Estate Assets and (c) any Debt for borrowed money of the Borrower incurred to refinance Debt referred to in CLAUSE (B) above in compliance with the proviso to CLAUSE (J) of SECTION 9.1 (other than CLAUSE (V) of such proviso); PROVIDED that (i) in the case of any Debt described in CLAUSE (B) above, (A) such Debt is incurred within [*] days of such acquisition or the completion of such construction, installation or improvement and the principal amount thereof does not exceed [*]% of the aggregate cost of such acquisition, construction, installation or improvement, (B) the initial committed amount of such Debt is at least $10,000,000, and (C) the weighted average life to maturity of such Debt is equal to or longer than the remaining weighted average life to maturity of the Loans advanced pursuant to this Agreement and the Loans committed to be advanced pursuant to this Agreement as if such Loans committed to be advanced had been advanced as of the date of determination, (ii) in the case of any Debt described in CLAUSE (B) or (C) above, (A) the holder or holders of such Debt (or a duly authorized representative thereof on behalf of such holders) shall have become a party to the Collateral Agency Agreement as provided therein, (B) at the time any such Debt is incurred (including pursuant to any increase in the principal amount thereof) no Default shall have occurred and be continuing (both before and after giving effect to such incurrence) and the Borrower shall be in compliance with each of the covenants set forth in ARTICLE 10 determined on a pro forma basis as of the last day of the most recently ended fiscal quarter of the Borrower for which financial statements are available as though such Debt had been incurred on the last day of such fiscal quarter for testing compliance with each such covenant, and the Borrower shall have delivered to the Administrative Agent a reasonably detailed calculation demonstrating such compliance, and (C) no premium or penalty is payable in connection with any prepayment of such Debt, and (iii) in the case of any Debt referred to in CLAUSE (B) or (C) above, such Debt is not Guaranteed by any Person (other than pursuant to the Guaranty Agreement)...
Sample 1
Eligible Secured Debt means, without duplication, (a) Indebtedness of the --------------------- Borrower in respect of the Loans, (b) any other Indebtedness for borrowed money of the Borrower incurred to finance the purchase price of (i) equipment purchased by the Borrower and its Subsidiaries (other than pursuant to the Purchase Agreement) for use in their wireless telecommunications and data networking business and/or (ii) services purchased by the Borrower and its Subsidiaries (other than pursuant to the Purchase Agreement) related to the design, construction or installation of their wireless telecommunications and data networks that incorporate equipment referred to in clause (i) above ---------- (including site acquisition services), (c) any other Indebtedness for borrowed money of the Borrower incurred to finance payments in respect of fees related to or interest in respect of Eligible Secured Debt (other than the Loans) or the purchase price of any FCC License that is acquired by a License Subsidiary and is to be used in the business of the Borrower and its Subsidiaries after the purchase thereof (provided that such FCC License is acquired by a License Subsidiary free of any Liens and is not purchased subject to any FCC Debt, Permitted License Acquisition Debt or other Indebtedness), and (d) any Indebtedness for borrowed money of the Borrower incurred to refinance Indebtedness referred to in clause (a), (b) or (c) above in compliance with the ---------- --- --- proviso to clause (f) of Section 6.01 (other than clause (v) of such proviso); ---------- ------------ ---------- provided that: --------
Sample 1
Eligible Secured Debt in the case of any Indebtedness described in clause (b) above, (A) such Indebtedness is incurred, for equipment, within six months after the later of the acquisition, the completion of construction and final acceptance or the commencement of full operation of the relevant equipment, and, for services, within six months of the completion thereof, (B) the principal amount thereof does not exceed 100% of the purchase price of the equipment or services (as applicable) financed thereby and (C) such equipment becomes Collateral under the Security Agreement upon the purchase thereof (free of any Liens other than the Lien of the Security Agreement);
Sample 1
Eligible Secured Debt means (a) Indebtedness of the Borrower in respect of the Loans, (b) any other Indebtedness for borrowed money of the Borrower incurred to finance the purchase price of equipment purchased by the Borrower and its Subsidiaries (other than pursuant to the Purchase Agreement) for use in their wireless telecommunications and data networking business, (c) any other Indebtedness for borrowed money of the Borrower incurred to finance payments in respect of fees related to or interest in respect of Eligible Secured Debt (other than the Loans) or the purchase price of any FCC License that is acquired by a License Subsidiary and is to be used in the business of the Borrower and its Subsidiaries after the purchase thereof (provided that such FCC License is acquired by a License Subsidiary free of any Liens and is not purchased subject to any FCC Debt, Permitted License Acquisition Debt or other Indebtedness), and (d) any Indebtedness for borrowed money of the Borrower incurred to refinance Indebtedness referred to in clause (a), (b) or (c) above in compliance with the proviso to clause (f) of Section 6.01 (other than clause (v) of such proviso); provided that:
Sample 1

Related to Eligible Secured Debt

  • Eligible Senior Debt means, at any time in respect of any issuer, each series of outstanding unsecured long-term indebtedness for money borrowed of such issuer that (a) upon a bankruptcy, liquidation, dissolution or winding up of the issuer, ranks most senior among the issuer’s then outstanding classes of unsecured indebtedness for money borrowed, (b) is then assigned a rating by at least one NRSRO (provided that this clause (b) shall apply on a Redesignation Date only if on such date the issuer has outstanding senior long-term indebtedness for money borrowed that satisfies the requirements of clauses (a), (c) and (d) that is then assigned a rating by at least one NRSRO), (c) has an outstanding principal amount of not less than $100,000,000, and (d) was issued through or with the assistance of a commercial or investment banking firm or firms acting as underwriters, initial purchasers or placement or distribution agents. For purposes of this definition as applied to securities with a CUSIP number, each issuance of long-term indebtedness for money borrowed that has (or, if such indebtedness is held by a trust or other intermediate entity established directly or indirectly by the issuer, the securities of such intermediate entity that have) a separate CUSIP number shall be deemed to be a series of the issuer’s long-term indebtedness for money borrowed that is separate from each other series of such indebtedness.

  • Eligible Securities means those securities which are identified as permissible securities for a particular Transaction Category.

  • Eligible Security means a security that:

  • Consolidated Secured Debt means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a Lien on any asset or property of such Person or its Restricted Subsidiaries.

  • Permitted Secured Indebtedness any Secured Indebtedness that:

  • Secured Debt means Debt secured by any mortgage, lien, charge, pledge or security interest of any kind.

  • Total Secured Debt means, as of any date of determination, the aggregate amount of senior securities representing secured indebtedness of the Obligors as of such date of determination.

  • Total Secured Indebtedness means (a) all Secured Indebtedness of the Consolidated Group determined on a consolidated basis plus (b) the Consolidated Group Pro Rata Share of Secured Indebtedness attributable to interests in Unconsolidated Affiliates.

  • Senior Secured Debt means, at any time, Consolidated Total Funded Debt that constitutes Senior Indebtedness secured by a Lien on any Collateral.

  • Consolidated Senior Secured Debt means, at any date of determination, the aggregate principal amount of Total Funded Debt outstanding on such date that is secured by a Lien on any asset or property of the Borrower or the Restricted Subsidiaries, which Total Funded Debt is not, by its terms, subordinated in right of payment to the Obligations.

  • Eligible Debt means, at any time, Eligible Subordinated Debt or, if no Eligible Subordinated Debt is then outstanding, Eligible Senior Debt.

  • Consolidated Secured Indebtedness means, as of any date of determination, Consolidated Total Debt that is secured by a Lien on any assets of Borrower and its Subsidiaries.

  • Permitted Convertible Indebtedness means any unsecured Indebtedness issued under the Convertible Senior Notes, and any refinancings or replacements thereof that is unsecured Indebtedness issued by the Borrower and/or guaranteed by a Loan Party; provided that (i) the amount of such Indebtedness is not increased at the time of such refinancing or replacement except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder, and (ii) any Indebtedness in connection with a refinancing or a replacement thereof shall (A) not mature or require any payment of principal thereof prior to the date that is 91 days past the Maturity Date and (B) have covenants that are not more restrictive (taken as a whole) than those set forth herein; provided, further, that the conversion of Permitted Convertible Indebtedness, including any requirement or decision to pay cash upon any conversion of Permitted Convertible Indebtedness in lieu of all or any portion of the Equity Interests of the Borrower due upon conversion of such Permitted Convertible Indebtedness, and the requirement of the Borrower to repurchase Permitted Convertible Indebtedness prior to its stated maturity date upon a fixed date or upon the occurrence of a fundamental change (which would include customary change of control provisions or a termination of trading of the Borrower’s common stock on the exchange on which it is then listed), shall not constitute a maturity or the requirement of any payment of principal of such Permitted Convertible Indebtedness prior to the date that is 91 days past the Maturity Date hereunder for purposes of this definition.

  • Designated Indebtedness has the meaning assigned to such term in the Guarantee and Security Agreement.

  • Convertible Indebtedness means Indebtedness of the Parent that is convertible into common Equity Interests of the Parent (and cash in lieu of fractional shares) and/or cash (in an amount determined by reference to the price of such common Equity Interests).

  • Consolidated First Lien Secured Debt means Consolidated Total Debt as of such date that is not Subordinated Indebtedness and is secured by a Lien on all of the Collateral that ranks on an equal priority basis (but without regard to the control of remedies) with Liens on all of the Collateral securing the Obligations.

  • Consolidated Outstanding Indebtedness means, as of any date of determination, without duplication, the sum of (a) all Indebtedness of the Consolidated Group outstanding at such date, determined on a consolidated basis in accordance with GAAP (whether recourse or non-recourse), plus, without duplication, (b) the applicable Consolidated Group Pro Rata Share of any Indebtedness of each Investment Affiliate other than Indebtedness of such Investment Affiliate to a member of the Consolidated Group.

  • Senior Secured Indebtedness means, with respect to any Person as of any date of determination, any Specified Indebtedness; provided that such Indebtedness is in each case secured by a Lien on the assets of the Issuer or its Restricted Subsidiaries on a basis pari passu with or senior to the security in favor of the Notes.

  • Consolidated Senior Secured Indebtedness means, as of any date of determination, Consolidated Total Indebtedness as of such date that is not subordinated in right of payment to the Secured Obligations and is secured by a Lien on the Collateral securing the Loan Document Obligations.

  • Consolidated Secured Debt Ratio as of any date of determination means, the ratio of (1) Consolidated Total Indebtedness of the Company and its Restricted Subsidiaries that is secured by Liens as of the end of the most recent fiscal quarter for which internal financial statements are available immediately preceding the date on which such event for which such calculation is being made shall occur to (2) the Company’s EBITDA for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such event for which such calculation is being made shall occur, in each case with such pro forma adjustments to Consolidated Total Indebtedness and EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio.

  • Pari Passu Indebtedness means: (a) with respect to the Issuer, the Notes and any Indebtedness which ranks pari passu in right of payment to the Notes; and (b) with respect to any Guarantor, its Guarantee and any Indebtedness which ranks pari passu in right of payment to such Guarantor’s Guarantee.

  • Eligible Subordinated Debt means, at any time in respect of any issuer, each series of the issuer’s then-outstanding long-term indebtedness for money borrowed that (a) upon a bankruptcy, liquidation, dissolution or winding up of the issuer, ranks subordinate to the issuer’s then outstanding series of indebtedness for money borrowed that ranks most senior, (b) is then assigned a rating by at least one NRSRO (provided that this clause (b) shall apply on a Redesignation Date only if on such date the issuer has outstanding subordinated long-term indebtedness for money borrowed that satisfies the requirements in clauses (a), (c) and (d) that is then assigned a rating by at least one NRSRO), (c) has an outstanding principal amount of not less than $100,000,000, and (d) was issued through or with the assistance of a commercial or investment banking firm or firms acting as underwriters, initial purchasers or placement or distribution agents. For purposes of this definition as applied to securities with a CUSIP number, each issuance of long-term indebtedness for money borrowed that has (or, if such indebtedness is held by a trust or other intermediate entity established directly or indirectly by the issuer, the securities of such intermediate entity that have) a separate CUSIP number shall be deemed to be a series of the issuer’s long-term indebtedness for money borrowed that is separate from each other series of such indebtedness.

  • Pari Passu Debt means any Indebtedness of the Company or any Guarantor that ranks pari passu in right of payment with the Notes or such Guarantee, as applicable.

  • Consolidated Senior Secured Debt Ratio as of the last day of any period of four consecutive Fiscal Quarters, the ratio of (a) Consolidated Senior Secured Debt on such day to (b) Consolidated EBITDA for such period.

  • Covered Debt means (a) at the date of this Replacement Capital Covenant and continuing to but not including the first Redesignation Date, the Initial Covered Debt and (b) thereafter, commencing with each Redesignation Date and continuing to but not including the next succeeding Redesignation Date, the Eligible Debt identified pursuant to Section 3(b) as the Covered Debt for such period.

  • Secured Indebtedness means any Indebtedness secured by a Lien.