Fleet Debt definition

Fleet Debt means at any time the collective reference to the Commercial Paper, the Liquidity Facility, the Medium Term Notes and the Covered Foreign Fleet Debt outstanding at such time.
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Fleet Debt means the Indebtedness and other Obligations of the Borrowers and their respective Subsidiaries to repay principal of Revolving Credit Loans (as defined in the Fleet Credit Agreement), including the Term Component Loans (as defined in the Fleet Credit Agreement), and to pay interest thereon under the Fleet Credit Agreement and the other "Loan Documents" (as defined in the Fleet Credit Agreement) and fees, costs, expenses, and other amounts in connection with such Revolving Credit Loans in an aggregate amount (including principal, interest, fees, costs, expenses and all other amounts) not to exceed $25,000,000.
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Fleet Debt means all obligations of AllEnergy for borrowed money and in respect of letters of credit issued for the account of AllEnergy, including but not limited to repayment of principal, accrued unpaid interest, fees, penalties, and other costs, pursuant to a promissory note and letter agreement, each dated May 1997, with Fleet National Bank, ("Fleet Credit Agreement") under which AllEnergy may borrow or request that Fleet National Bank issue its letter or letters of credit, which borrowings and/or letters of credit may not exceed Ten Million ($10,000.00) Dollars outstanding at any one time.
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Examples of Fleet Debt in a sentence

  • The ratio of Total Fleet Debt to Fleet Capital Employed on each Quarter Date shall not be more than 1:1.

  • The Liens granted to Agent pursuant to this Agreement and the other Financing Documents are Liens with priority only subject to those granted in favor of the holders of Fleet Debt in the manner described in the Intercreditor Agreement and subject only to those other Permitted Liens which are expressly permitted by the terms of this Agreement or the Intercreditor Agreement to have priority over the Liens of Agent.

  • The Parent and the Purchaser currently have available, and will have available to them on the Closing Date, sufficient funds to enable them to consummate the transactions contemplated by this Agreement including, but not limited to the repayment or refinancing of the Fleet Debt.

  • The U.S. Fleet Debt is secured by, among other things, a pledge in collateral owned by HVF, including substantially all of the U.S. car rental fleet that we use in our daily rental operations, a lease agreement between Hertz and HVF and other related collateral agreements, as well as all monies on deposit from time to time in certain collection and cash collateral accounts and all proceeds thereof, and certain interest rate hedge agreements.

  • The liens securing the Senior ABL Facility are subject to certain exceptions, including in respect of the U.S. Fleet Debt and the International Fleet Debt and other secured financing involving the Company's car rental fleet and related assets.

  • The Lenders shall have confirmed that the Fleet Debt is not greater than $25,000,000.

  • Thereafter, this specified excess cash flow amount will be between 50% and 100% of cumulative excess cash flow based on the percentage of the International Fleet Debt Facilities that have been replaced by permanent take-out international asset-based facilities.

  • The first such Advance shall be to pay in full the existing indebtedness to Fleet Bank (the "Fleet Debt").

  • The assets that collateralize the International Fleet Debt Facilities will not be available to satisfy the claims of ▇▇▇▇▇'▇ general creditors.

  • Borrower and Guarantor have good and marketable title to all of its assets, and after the payment of the Fleet Debt, as described in Section 1.02, none of its assets is subject to any security interest or lien except in favor of Lenders.


More Definitions of Fleet Debt

Fleet Debt has the meaning specified in Section 2.5.
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Fleet Debt means all Indebtedness under the Fleet Facility Agreement, as such Indebtedness may be deferred, renewed, extended, amended, restated, supplemented or otherwise modified or replaced, in whole or in part, from time to time hereafter, together with any refunding or replacement of such Indebtedness, including, but not limited to, any other group of lenders, but shall not include an increase in the then outstanding principal amount of such Indebtedness based upon, arising out of, or resulting from such deferral, renewal, extension, amendment, restatement, supplement, modification, replacement, or refunding.
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Fleet Debt has the meaning set forth in Section 2.1.2.
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Related to Fleet Debt

  • Current Debt of any Person shall mean as of the date of any determination thereof (i) all indebtedness of such Person for borrowed money other than Funded Debt of such Person, including, without limitation, debt owed to banks, and (ii) Guaranties by such Person of Current Debt of others.

  • Consolidated First Lien Net Debt means Consolidated Total Net Debt minus the sum of (i) the portion of Indebtedness of the Borrower or any Restricted Subsidiary included in Consolidated Total Net Debt that is not secured by any Lien on the Collateral and (ii) the portion of Indebtedness of the Borrower or any Restricted Subsidiary included in Consolidated Total Net Debt that is secured by Liens on the Collateral, which Liens are expressly subordinated or junior to the Liens securing the Obligations.

  • Funded Indebtedness means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

  • Project Debt means Indebtedness of one or more Project Subsidiaries incurred for the purpose of holding, constructing or acquiring power generation facilities or related or ancillary assets or properties; provided that the Company is not liable with respect to such Indebtedness except to the extent of a non-recourse pledge of equity interests in one or more Project Subsidiaries.

  • Refinance Indebtedness has the meaning assigned to such term in Section 6.01(f).