Incremental Equivalent Debt has the meaning assigned to such term in Section 6.01(a)(xxiii).
Incremental Equivalent Debt means Indebtedness incurred by the Borrower or any other Loan Party in the form of (i) notes or loans secured on a pari passu basis with the Secured Obligations, (ii) notes or loans secured on a junior basis to the Secured Obligations, (iii) unsecured notes or loans and/or (iv) commitments in respect of any of the foregoing issued, incurred or implemented in lieu of loans under an Incremental Facility; provided that:
Incremental Equivalent Debt has the meaning specified in Section 7.03(r).
Examples of Incremental Equivalent Debt in a sentence
Unless the Borrower elects otherwise, each Incremental Facility (or Incremental Equivalent Debt) shall be deemed incurred first under the Ratio Amount to the extent permitted (and calculated prior to giving effect to any substantially simultaneous incurrence of any Indebtedness based on a basket or exception that is not based on a financial ratio, including under any revolving facility and/or the Fixed Incremental Amount), with any balance incurred under the Fixed Incremental Amount.
More Definitions of Incremental Equivalent Debt
Incremental Equivalent Debt. Indebtedness incurred by the Parent Borrower or any of its Restricted Subsidiaries consisting of the issuance of one or more series of senior secured notes or loans, junior lien loans or notes, subordinated loans or notes or senior unsecured loans or notes (in each case in respect of the issuance of notes, whether issued in a public offering, Rule 144A or other private placement or purchase or otherwise) or any bridge financing in lieu of the foregoing, or secured or unsecured “mezzanine” debt; provided that (A) no Lender shall have any obligation to participate in any Incremental Equivalent Debt unless it agrees to do so in its sole discretion, (B) such Incremental Equivalent Debt shall be subject to the requirements set forth in clauses (i), (v) and (vi) of the first proviso in Section 2.24(a) with respect to Incremental Term Loans (and shall be subject to such clauses mutatis mutandis); provided that, in the case of any such Incremental Equivalent Debt in the form of notes, such Incremental Equivalent Debt is not required to be repaid, prepaid, redeemed, repurchased or defeased, whether on one or more fixed dates, upon the occurrence of one or more events or at the option of any holder thereof (except, in each case, upon the occurrence of an Event of Default, a change in control, an event of loss or an asset disposition) prior to the date that is 91 days after the Latest Maturity Date of the Term B Loans at such time, (C) any Incremental Equivalent Debt in the form of Dollar denominated term loans secured by the Collateral on a pari passu basis with the Term B Loans shall be subject to clause (vii) of the first proviso in Section 2.24(a) with respect to Incremental Term Loans (and shall be subject to such clause mutatis mutandis), (D) if such Incremental Equivalent Debt is secured, (x) any such Incremental Equivalent Debt incurred by a Loan Party (I) shall not be secured by any assets or property other than the Collateral and (II) shall be secured on a pari passu basis with the Obligations or on a junior basis to the Obligations and (y) all security therefor shall be granted pursuant to documentation substantially similar to the applicable Security Documents, and the secured parties thereunder, or a trustee or collateral agent on their behalf, shall have become a party to (x) with respect to Incremental Equivalent Debt secured on a junior basis to the Obligations, a customary “junior lien” intercreditor agreement in form and substance reasonably satisfa...
Incremental Equivalent Debt has the meaning specified in Section 2.15(a).
Incremental Equivalent Debt means Indebtedness incurred pursuant to Section 6.01(a)(xxiii).
Incremental Equivalent Debt means any Indebtedness that satisfies the following conditions:
Incremental Equivalent Debt has the meaning assigned to such term in Section 6.01(z).
Incremental Equivalent Debt means Indebtedness incurred by the Loan Parties in the form of senior secured or unsecured notes or loans or junior secured or unsecured notes or loans and/or commitments in respect of any of the foregoing issued, incurred or implemented in lieu of loans under an Incremental Facility; provided, that:
Incremental Equivalent Debt is defined in Section 6.14(u).