Equity Subordinated Loans definition

Equity Subordinated Loans means indebtedness in the form of loans owed by Holdings to one or more of holders of its Equity Interests, provided that (a) the stated final maturity of such indebtedness shall not be earlier than 190 days after the latest Maturity Date (and, in the event of any extension of the Maturity Date in accordance with the terms hereof, shall automatically extend to be no earlier than 190 days after the latest Maturity Date as so extended) and such stated final maturity shall not be subject to any conditions that could result in such stated final maturity occurring on a date that precedes such Maturity Date, (b) such indebtedness shall not be subject to any mandatory or required prepayment, repayment, redemption or repurchase, and shall not require any other payment or other distribution in respect of principal of or interest on such indebtedness, prior to its stated final maturity, (c) such indebtedness shall not be secured by any asset of Holdings or any Subsidiary, (d) no Subsidiary shall be an obligor (including pursuant to a Guarantee) of such indebtedness, (e) such indebtedness shall be subordinated to the Secured Obligations on the terms set forth the Equity Subordinated Loans Subordination Agreement, and each holder of such indebtedness shall be bound by the terms of the Equity Subordinated Loans Subordination Agreement and shall have delivered to the Administrative Agent such legal opinions, board resolutions, secretary’s certificates and other documents as shall have been reasonably requested by the Administrative Agent in connection therewith, (f) the agreements and instruments governing or evidencing such indebtedness shall not contain any affirmative or negative covenant, other than the covenant to repay such indebtedness in accordance with the terms thereof (and subject to the provisions hereof), and (g) the aggregate principal amount of such indebtedness (excluding capitalized interest) shall not exceed €40,000,000 at any time and the interest rate per annum shall not exceed a rate corresponding to the interest rate payable by Holdings and its Subsidiaries with respect to secured Indebtedness for borrowed money and any other Indebtedness for borrowed money the proceeds of which are used to pay off or refinance such secured Indebtedness during the applicable period (such interest rate to be calculated on a weighted average basis quarterly).
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Equity Subordinated Loans. The equity subordinated lenders (the "Equity Subordinated Lenders") of the Company and the number of shares of Company Common Stock (collectively, the "Equity Subordinated Lender Shares") held by such Equity Subordinated Lenders are as follows: EMH Enterprises - 10 shares; ▇▇▇▇ - 10 shares, ▇▇▇▇▇▇▇▇ - 10 shares; and ▇▇▇▇▇▇▇ - 10 shares. All equity subordinated loans of the Company currently outstanding shall remain valid and in full force and effect at the Effective Time. Each Equity Subordinated Lender Share held by the Equity Subordinated Lenders shall be canceled as of the Effective Time pursuant to Section 3.1. The Surviving Corporation shall issue to each Equity Subordinated Lender that number of shares of the common stock of the Surviving Corporation equal to the number of Equity Subordinated Lender Shares held by such Equity Subordinated Lender immediately prior to the Effective Time.
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Related to Equity Subordinated Loans

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.

  • Subordinated Loan means a loan obligation of any corporation, partnership, trust or other business entity that is (i) (whether by its terms or otherwise) subordinate in right of payment or security to any other debt for borrowed money incurred by the Obligor under such loan and (ii) not a Second Lien Loan or a First Lien/Last Out Loan.

  • Junior Subordinated Debt means (a) subordinated junior deferrable interest debentures of the Borrower, (b) the related preferred securities, if applicable, of Subsidiaries of the Borrower and (c) the related subordinated guarantees, if applicable, of the Borrower, in each case, from time to time outstanding.

  • Junior Subordinated Indebtedness means the principal of (and premium, if any) and unpaid interest on (a) indebtedness of the Company (including indebtedness of others guaranteed by the Company), whether outstanding on the date hereof or thereafter created, incurred, assumed or guaranteed, for money borrowed, which in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such indebtedness ranks junior in right of payment to the Company’s Senior Indebtedness and Senior Subordinated Indebtedness and equally and pari passu in right of payment to any other Junior Subordinated Indebtedness, (b) Junior Subordinated Securities, and (c) renewals, extensions, modifications and refinancings of any such indebtedness.

  • Junior Subordinated Notes means the $__________ aggregate principal amount of the Depositor's Series __ ____% Junior Subordinated Notes due ____ __, ____, issued pursuant to the Subordinated Indenture.