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 Debt Obligations shall mean the full, final and indefeasible payment in cash and satisfaction of all of the Senior Debt Obligations and the irrevocable termination of the Collateral Agent’s and the Credit Agreement Collateral Agent’s obligation to make loans, accommodations or other advances under the Senior Note Documents or the Credit Facility 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.
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 Lender.
More Definitions of Finally Paid
Finally Paid has the meaning set forth in the Senior Subordination Agreement.
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,” when used in connection with the Senior Indebtedness shall mean the full, final and indefeasible payment in cash of all of the Senior Indebtedness and the irrevocable termination of Senior Lender’s obligation to make loans or other advances under the Loan Agreement; in each case subject to such waiting periods as are necessary to prevent such actions being subject to avoidance under Section 547 of the Bankruptcy Code, or its successor. “Insolvency Proceeding” shall mean any proceeding commenced by or against any person 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 reorganization, arrangement, or other similar relief. “Liens” shall mean 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. “Note” shall have the meaning set forth in the recitals hereof. “Senior Indebtedness” means all principal, interest and other obligations at any time due and owing by Xxxxxxxx to Senior Lender arising out of or incurred in connection with the Loan Agreement and the Loan Documents or other documents executed in connection with the Senior Loan (and any indebtedness which refinances such principal, interest or other obligations), as modified, extended, renewed or restated, whether direct or contingent, and whether now existing or hereafter created. Senior Indebtedness shall include, without limitation: (i) interest which accrues on the principal amount of the Senior Indebtedness, and (ii) other obligations arising out of or in connection with the Loan Agreement and the Loan Documents or other documents incurred in connection with the Senior Loan, in each instance subsequent to the commencement of a case under Chapter 11 of the Bankruptcy Code, whether or not such interest is allowed as a claim in such case. “Senior Lender” shall have the meaning set forth in the recitals hereof. “Subordinated Documents” shall have the meaning set forth in the recitals hereof. “Subordinated Indebtedness” means all indebtedness or other obligations of any kind of Borrower to Subordinated Lender pursuant to the Subordinated Documents and all present and future loans, advances, debts, liabilities, indemnification obligations, claims and causes of action, oth...
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.
Finally Paid means in respect of a monetary liability, payment or discharge of it in full.
Finally Paid means, in respect of the Secured Moneys or any other monetary liability under the Finance Documents, satisfaction of the following conditions: