Finally Paid definition
Finally Paid or “Final Payment,” when used in connection with the Senior Indebtedness means the full and final and payment in immediately available funds of all of the Senior Indebtedness and the termination in writing of the Senior Lenders’ obligations to make loans or other advances or financial accommodations to the Loan Parties under the Senior Documents. The repayment of any Senior Indebtedness pursuant to a Refinancing permitted hereunder shall not constitute “Final Payment” of the Senior Indebtedness being Refinanced.
Finally Paid or "Final Payment," when used in connection with the Senior Indebtedness, means the full and indefeasible payment in cash (or, with respect to any letters of credit issued in connection with the Senior Loan Documents, any Swap obligations or any Bank Products obligations, cash collateralization) of all of the Senior Indebtedness and the irrevocable termination of all Commitments of all the Senior Lenders under the Senior Loan Documents.
Finally Paid or “Final Payment”, when used in connection with the Senior Debt, shall mean (a) the payment in full in cash or other consideration acceptable to each Senior Lender (or any combination thereof) of all of the Senior Debt (other than contingent indemnification obligations to the extent no claim giving rise thereto has been asserted), (b) the termination of Senior Lenders’ obligations to make loans or other advances under the Senior Debt Documents but shall not include any payment in connection with a refinancing, refunding or replacement of any such Senior Debt and (c) all letters of credit issued under the Senior Debt Documents have been terminated, cash collateralized (in an amount equal to 104% of the face amount of such letters of credit or other manner acceptable to the Senior Agent) or backstopped by standby letters of credit (issued by a bank reasonably satisfactory to the Senior Agent and in form and substance reasonably satisfactory to the Senior Agent).
Examples of Finally Paid in a sentence
At such time as the Senior Indebtedness has been Finally Paid (and is not subject to avoidance under Section 547 of the Bankruptcy Code), Subordinated Creditor shall be subrogated, to the extent of the Senior Indebtedness so paid, to the rights of the holder of the Senior Indebtedness to receive Distributions until all amounts owing on the Subordinated Indebtedness shall be paid in full.
Subordinated Creditor hereby appoints Senior Agent as its attorney-in-fact for purposes of releasing, discharging and terminating of record any such Lien (such appointment of Senior Agent as attorney-in-fact shall be deemed irrevocable until such time as the Senior Indebtedness has been Finally Paid).
This Agreement shall continue and shall be irrevocable until the date all of the Senior Indebtedness has been Finally Paid or otherwise discharged and released in an express writing to such effect by the Senior Lenders.
This Agreement shall continue and shall be irrevocable until the date all of the Senior Indebtedness has been Finally Paid by Borrower or otherwise discharged and released by the Senior Lender.
If Senior Agent and/or Senior Lenders desire to undertake a Permitted Refinancing then for all purposes of this Agreement (a) the Senior Debt shall not be deemed to have been Finally Paid and (b) the agent under such new Senior Debt Documents shall be deemed to be Senior Agent for the purposes of this Agreement.
More Definitions of Finally Paid
Finally Paid has the meaning set forth in the Senior Subordination Agreement.
Finally Paid or “Final Payment,” when used in connection with the Senior Indebtedness means the full and indefeasible payment in cash of all of the Senior Indebtedness and the irrevocable termination of the Revolving Commitment of the Lender under the Senior Loan Documents. “Liens” means any mortgage, deed of trust, pledge, lien, security interest, charge, set-off right or other encumbrance, whether now existing or hereafter created, acquired or arising. “Loan Agreement” shall have the meaning set forth in the recitals hereof. “Obligor” means any guarantor or obligor of any Senior Indebtedness. “Proceeding” means any voluntary or involuntary proceeding commenced by or against the Company or any Obligor under any provision of the Bankruptcy Code, or under any other bankruptcy or insolvency law, including assignments for the benefit of creditors, formal or informal moratoria, compositions, extensions generally with its creditors, or proceedings seeking dissolution, receivership, reorganization, arrangement, or other similar relief. “Senior Indebtedness” means all obligations, liabilities and indebtedness of every nature of the Company or any Obligor from time to time owed to the Senior Lender under the Senior Loan Documents, including the principal amount of the Senior Notes, all debts, claims and indebtedness, accrued and unpaid interest and all premium, fees, costs and expenses, whether primary, secondary, direct, contingent, fixed or otherwise, heretofore, now and from time to time hereafter owing, due or payable, whether before or after the filing of a Proceeding, including any Bank Product Obligations at any time due and owing to Senior Lenders, together with (a) any indebtedness which refinances such principal, interest or other obligations and any amendments, modifications, renewals, restatements, refinancings or extensions thereof to the extent not prohibited by the terms of this Agreement and (b) any interest accruing thereon after the commencement of a Proceeding, without regard to whether or not such interest is allowed in any Proceeding. Senior Indebtedness shall be deemed to be outstanding until it is Finally Paid. “Senior Lenders” means The PrivateBank and Trust Company, an Illinois banking corporation, or any other Person appointed by the holders of the Senior Indebtedness as administrative agent for purposes of the Senior Loan Documents and this Agreement, together with the successors and assigns of all of the foregoing.
Finally Paid or “Final Payment,” when used in connection with the Senior Obligations means the full, final and indefeasible payment of all of the Senior Obligations and the irrevocable termination of Senior Lender’s obligation to make loans or other advances under the Senior Loan Documents.
Finally Paid or “Final Payment” means, when used in connection with any Indebtedness, the full payment in cash of all obligations with respect to such Indebtedness (other than contingent indemnity obligations not expected to be incurred) and the irrevocable termination of all commitments related thereto.
Finally Paid or “Final Payment”, shall mean (i) when used in connection with the New Money Advance Indebtedness, the full, final and indefeasible payment in cash of all of the New Money Advance Indebtedness, the expiration or cancellation of all letters of credit issued under the Credit Agreement which constitute New Money Advances and the irrevocable termination of the Banks’ obligation to make New Money Advances under the Credit Agreement and (ii) when used in connection with all of the Senior Indebtedness, the full, final and indefeasible payment in cash of all of the Senior Indebtedness, the expiration or cancellation of all letters of credit issued under the Credit Agreement and the irrevocable termination of all commitments to extend credit under the Credit Agreement.
Finally Paid means payment of the Secured Moneys in full to the satisfaction of the Chargee.
Finally Paid means in respect of a monetary liability, payment or discharge of it in full.