First Lien Secured Debt definition

First Lien Secured Debt means, without duplication, any Debt of the Company and its Restricted Subsidiaries that constitutes First Lien Obligations.
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First Lien Secured Debt. Total Debt that is secured by a first priority Lien on any asset of the Parent Borrower or any of its Subsidiaries (it being understood that any Debt outstanding under this Agreement and any Debt outstanding under the Term Loan Agreement is First Lien Secured Debt).
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First Lien Secured Debt means, with respect to a Person as of any given date, the aggregate principal amount of (i) the 2022 Revolving Loans, the 2022 Term A Loans, the Existing Term B Loans and the Amendment No. 1 Incremental Term B Loans and (ii) all other Funded Indebtedness of such Person outstanding on such date that is secured in any manner by any Lien on any property of such Person which Lien is pari passu (without regard to the control of remedies) with the Liens securing the 2022 Revolving Loans, the 2022 Term A Loans, the Existing Term B Loans and the Amendment No. 1 Incremental Term B Loans.
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Examples of First Lien Secured Debt in a sentence

  • Solely with respect to the Revolving Credit Facility, commencing with the fiscal quarter ending December 31, 2018, on the last day of any Test Period on which the Revolving Credit Facility Test Condition is then applicable, the Borrower will not permit the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio for the Test Period ending on such last day to be greater than 6.75:1.00.

  • Solely with respect to the Revolving Credit Facility, Holdings will not permit the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio as of the last day of any Test Period ending during any Compliance Period to be greater than 7.75 to 1.00.

  • Dieterle, IBM Corporation, Xxxxxx Valley Research Park, Building 300-44X, 0000 Xxxxx 00, Xxxxxxxx Xxxxxxxx, Xxx Xxxx 00000, with copies addressed simultaneously to the Landlord, Office of Area Counsel, IBM Corporation, 0000 Xxxxx 00, Xxxxxxxx Xxxxxxxx, Xxx Xxxx 00000-0000, until otherwise directed in writing by the Landlord.

  • Solely with respect to the Revolving Credit Facility, the Borrower will not permit the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio as of the last day of any Test Period ending during any Compliance Period to be greater than 6.90:1.00.

  • Solely with respect to the Revolving Credit Facility, Holdings will not permit the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio as of the last day of any Test Period on which the Revolving Credit Facility Test Condition is then satisfied to be greater than 5.75 to 1.00.

  • With respect to any issuance or extension of, drawing under, and/or amendment of, a 2020 Letter of Credit, to the extent the aggregate amount of 2020 Letter of Credit Unpaid Drawings outstanding exceeds 35% of the Total 2020 Letter of Credit Commitment at such time, the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio as of the last day of the Test Period shall not be greater than 6.90:1.00.

  • In addition, to the extent applicable, the Issuer and the Guarantors shall cause TIA Section 313(b), relating to reports, and TIA § 314(d), relating to the release of property or securities from the Liens securing the First Lien Secured Debt or relating to the substitution therefor of any property or securities to be subjected to the Liens securing the First Lien Secured Debt, to be complied with.

  • For purposes of any determination of Consolidated Total Debt or Consolidated First Lien Secured Debt, amounts in currencies other than Dollars shall be translated into Dollars at the currency exchange rates used in preparing the most recently delivered Section 9.1 Financials.

  • The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article 12 in respect of any First Lien Secured Debt at any time held by it, to the same extent as any other holder of First Lien Secured Debt, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder.

  • The Trustee, subject to the provisions of Section 7.01, shall be entitled to conclusively rely on the delivery to it of a written notice by a Debt Representative or a Person representing himself to be a holder of First Lien Secured Debt to establish that such notice has been given by a Debt Representative or a holder of First Lien Secured Debt.


More Definitions of First Lien Secured Debt

First Lien Secured Debt means the Notes issued on the Issue Date, the related Note Guarantees, Indebtedness incurred under the revolving credit facility permitted under clause (k) of Section 4B.01 in an amount not to exceed $25.0 million, and, in each case, all Permitted Refinancing Indebtedness incurred to refund, refinance or replace any such Indebtedness, all of which may be secured Equally and Ratably with a First Priority Lien on the Collateral pursuant to the First Lien Security Documents.
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First Lien Secured Debt means, as to any Person at any date of determination, the aggregate principal amount of Total Indebtedness outstanding on such date that is secured by a First Priority Lien on any assets or property of the Borrower and its Subsidiaries.
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First Lien Secured Debt means, without duplication, (i) any Debt of the Company and its Restricted Subsidiaries that constitutes First Lien Obligations and (ii) any Debt of a Restricted Subsidiary that is not a Guarantor Incurred pursuant to the first paragraph of SECTION 4.9.
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First Lien Secured Debt means, with respect to a Person as of any given date, the aggregate principal amount of (i) the 2022 Revolving Loans, the 2022 Term A Loans, the Existing Term B Loans and the Amendment No. 1 Incremental Term B Loans and (ii) all other Funded Indebtedness of such Person outstanding on such date that is secured in any manner by any Lien on any property of such Person which Xxxx is pari passu (without regard to the control of remedies) with the Liens securing the 2022 Revolving Loans, the 2022 Term A Loans, the Existing Term B Loans and the Amendment No. 1
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First Lien Secured Debt means the First Lien Notes issued on the Issue Date, the related Guarantees thereof and Indebtedness incurred under the Senior Credit Facility pursuant to clause (k) of Section 4B.01 hereof in an amount not to exceed $25.0 million, and, in each case, all Permitted Refinancing Indebtedness incurred to refund, refinance or replace any such Indebtedness, all of which may be secured Equally and Ratably with a First Priority Lien on the Collateral pursuant to the First Lien Security Documents.
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First Lien Secured Debt means the Original Last Out Notes issued on the Issue Date and replaced by the Last Out Notes on the Restatement Date, the First Out Notes issued on the Restatement Date, the related Note Guarantees, any Additional Notes, Indebtedness incurred under the revolving credit facility permitted under clause (k) of Section 4B.01 in an amount not to exceed $25.0 million less the outstanding principal amount of the First Out Notes and, in each case, all Permitted Refinancing Indebtedness incurred to refund, refinance or replace any such Indebtedness, all of which may be secured Equally and Ratably with a First Priority Lien on the Collateral pursuant to the First Lien Security Documents.
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Related to First Lien Secured Debt

  • 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.

  • First Lien Security Documents means the Security Documents and any other agreement, document or instrument pursuant to which a lien is granted or purported to be granted securing First Lien Obligations or under which rights or remedies with respect to such liens are governed, in each case to the extent relating to the collateral securing the First Lien Obligations.

  • First Lien Secured Parties means (i) the Credit Agreement Secured Parties and (ii) the Additional First-Lien Secured Parties with respect to each Series of Additional First-Lien Obligations.

  • Second Lien Secured Parties means, at any relevant time, the holders of Second Lien Obligations at such time, including without limitation the Second Lien Lenders and the agents under the Second Lien Credit Agreement.

  • Additional First Lien Secured Parties means the holders of any Additional First Lien Obligations and any trustee, authorized representative or agent of such Additional First Lien Obligations.

  • Additional First Lien Secured Party means the holders of any Additional First-Lien Obligations and any Authorized Representative with respect thereto, and shall include the Initial Additional First-Lien Secured Parties.

  • First Lien Debt means the Initial First Lien Debt and any Additional First Lien Debt.

  • Secured Debt means Debt of the Company or its Subsidiaries secured by an Encumbrance on the property of the Company or its Subsidiaries.

  • Secured Debt Documents means the Parity Lien Documents and the Priority Lien Documents.

  • Second Lien Debt means the Indebtedness and guarantees thereof now or hereafter incurred pursuant to the Second Lien Loan Documents.

  • Junior Lien Indebtedness means any Indebtedness that is secured by a security interest on the Collateral (other than Indebtedness among the Borrower and/or its Subsidiaries) that is expressly junior or subordinated to the Lien securing the Obligations with an individual outstanding principal amount in excess of the Threshold Amount.

  • First Lien/Second Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, in each case, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • Second Lien Facility means the second lien term loan facility under the Second Lien Credit Agreement.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).