Future Debt definition

Future Debt means Debt evidenced by Long Term Notes; provided that the aggregate principal amount of all such Debt outstanding at any time from and after the date hereof shall not exceed One Hundred Fifty Million Dollars ($150,000,000); and provided further that, at the time any such Debt is incurred, the Funding Conditions have been satisfied. For the purposes of this definition, "Long Term Notes" shall mean unsecured or secured non-revolving promissory notes to be issued by the Company, which Debt shall have a term extending at least beyond the Revolving Credit Maturity Date then in effect, have an amortization schedule not greater than level amortization to maturity (but with no principal payments required for a period of at least 12 months) and have no requirement for mandatory early repayment except (x) upon default, (y) following a change in control or (z) following the sale of any material portion of the assets of the Company or any of its Subsidiaries, to the extent of the proceeds of such sale.

Future Debt means Debt evidenced by Long Term Notes; provided that the aggregate principal amount of all such Debt outstanding at any time from and after the date hereof shall not exceed One Hundred Fifty Million Dollars ($150,000,000); and

Future Debt means any Debt created on or after the Commencement Date.

Examples of Future Debt in a sentence

• All Investors and Future Debt holders will have a security interest in the collateral on a pari passu basis in proportion to the dollar amount of Future Debt or Bridge Notes held.

• If you are making a “Present and Future Debt Guaranty” as identified above, you are being asked to guarantee present as well as future debts of the borrower entered into with this lender.

• Each of U.S. Agent, each Noteholder, Northern and each holder of Additional Future Debt hereby covenants and agrees that it will not take, hold or suffer to exist any security interest in or Lien on any assets as security for any of the Secured Obligations unless such security interest or Lien is granted in favor of, or otherwise made available to, the Collateral Agent for the benefit of U.S. Agent, the Noteholders, Northern and the holders of Additional Future Debt as contemplated by this Agreement.

• All representations and warranties made in this Agreement or in any certificate delivered pursuant hereto shall survive the execution and delivery of this Agreement, and no investigation by the Collateral Agent shall affect the representations and warranties or the right of the Collateral Agent, the Lenders, the Noteholders or the Future Debt Holders to rely upon them.

• In the event that Seller’s senior unsecured debt rating with respect to the Future Debt (or in the event Seller has no such Future Debt, its corporate credit rating) has a Standard & Poor’s rating of “BBB-“or above (so long as a rating of “BBB-“ is deemed to be investment grade by Standard & Poor’s), then Seller’s obligations hereunder shall be abated, and the Withholding Security, if any, and Letter of Credit shall be released to Seller.

More Definitions of Future Debt

Future Debt means any Debt issued after the Seventh Amendment Effective Date (and any guaranties thereof permitted hereunder); provided that the aggregate principal amount of all such Debt (without duplication of such guaranties) outstanding at any time issued from and after the Seventh Amendment Effective Date shall not exceed the greater of (i) $1,000,000,000 and (ii) 15% of the Consolidated total assets of the Company (as determined in accordance with GAAP at the time of the incurrence of such Debt by reference to the last day of the fiscal quarter most recently ended prior to the relevant date of determination for which financials have been delivered pursuant to Section 7.3(c)). No Default or Event of Default shall be deemed to have occurred by virtue of this definition (and Section 8.5(c) hereof) solely as a result of changes in the amount of Consolidated total assets occurring after the time such Future Debt is incurred. Notwithstanding anything herein to the contrary, Permitted Refinancing Debt (other than any Permitted Refinancing of any Future Debt) shall not constitute Future Debt. If Future Debt is incurred in reliance on clause (ii) of this definition, and any refinancing thereof would cause the maximum percentage of Consolidated total assets under this definition (and Section 8.5 (c) hereof) to be exceeded if calculated based on the Consolidated total assets on the relevant date of determination for such refinancing, such percentage of Consolidated total assets will not be deemed to be exceeded to the extent such Debt constitutes a Permitted Refinancing.

Future Debt means any unsecured term indebtedness to be obtained (directly or indirectly) by Borrower from a commercial bank(s), insurance company(ies) or other financial institutions(s) provided that:

Future Debt. (as defined in the Credit Agreement) deposited by the Company or any Restricted Subsidiary in a cash collateral account, in lieu of the Company's reduction of indebtedness outstanding under the Credit Agreement, for the purpose of avoiding breakage charges in connection with "Eurocurrency-based Advances" (as defined in the 42 43 Credit Agreement) under the Credit Agreement, all in accordance with clause (d) of the definition of "Permitted Securitization" and clause (d) of the definition of "Funding Conditions" in the Credit Agreement, as applicable; it being also understood and agreed that the holders of Notes shall have no rights to a security interest in or Lien on the money so deposited.

Future Debt means any Debt incurred by the Company subsequent to the Effective Date; provided that, at the time any such Debt is incurred, the Funding Conditions have been satisfied.

Future Debt means any Debt issued after the First Amendment Effective Date (and any guaranties thereof permitted hereunder); provided that the aggregate principal amount of all such Debt (without duplication of such guaranties) outstanding at any time issued from and after the First Amendment Effective Date shall not exceed Five Hundred Million Dollars ($500,000,000). Notwithstanding anything herein to the contrary, Permitted Refinancing Debt (other than any Permitted Refinancing of any Future Debt) shall not constitute Future Debt.”

Future Debt shall have the meaning set forth in Section 8.2.

Future Debt means Debt evidenced by Long Term Notes; provided that the aggregate principal amount of all such Debt outstanding at any time from and after the date