Incurred Debt definition

Incurred Debt means the debt actually incurred by HoldCo Sub and ultimately distributed to the Transferring Entities at a Closing pursuant to the terms of this Agreement, which debt, together with all previously incurred Incurred Debt, shall not exceed the product of (A) the aggregate number of Tower Sites conveyed to HoldCo on or prior to such Closing, and (B) $86,132.64.
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Incurred Debt is defined in Section 2A.9(b).
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Incurred Debt is defined in Section 2A.9(b) of the Formation Agreement.
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Examples of Incurred Debt in a sentence

  • Except with respect to Incurred Debt, if any, the Company directly or indirectly, creating, incurring, assuming, guaranteeing, or otherwise becoming or remaining directly or indirectly liable with respect to any Indebtedness.

  • Further, any such Business Plan may have the effect of reducing amounts payable under the Management Agreement so long as the Incurred Debt, if any, remains outstanding.

  • OpCo shall not, directly or indirectly, maintain, create, incur, assume or permit to exist any Encumbrance (other than Permitted Encumbrances and Encumbrances granted to a lender to secure any Incurred Debt) on or with respect to any property or asset (including any document or instrument in respect of goods or accounts receivable) of OpCo, whether now owned or hereafter acquired, or any income or profits therefrom.

  • The Company covenants and agrees for the benefit of the Holders of the Notes, so long as any of the Notes are Outstanding, in relation to the Notes and any Incurred Debt, that the net proceeds from such Incurred Debt (after deducting any expenses related to such incurrence) shall be used to make loans to its subsidiaries pursuant to one or more promissory notes.

  • The ▇▇▇▇▇▇▇▇ Retained Interest shall be held at all times directly by a single ▇▇▇▇▇▇▇▇ Member (subject to a pledge arrangement in favor of the Lender in connection with Incurred Debt, if any).

  • The Company, directly or indirectly, maintaining, creating, incurring, assuming or permitting to exist any Encumbrance (other than Encumbrances on the membership interests in HoldCo Sub granted to the Lender or to secure the Incurred Debt, if any), on or with respect to any property or asset (including any document or instrument in respect of goods or accounts receivable) of the Company, whether now owned or hereafter acquired, or any income or profits therefrom.

  • Except for any Incurred Debt, HoldCo Sub shall not, directly or indirectly, remain liable, create, incur, assume, guarantee, or otherwise become or remain directly or indirectly liable with respect to any Indebtedness.

  • HoldCo shall not, directly or indirectly, maintain, create, incur, assume or permit to exist any Encumbrance (other than Permitted Encumbrances and Encumbrances on the membership interests in HoldCo Sub granted to the Lender to secure any Incurred Debt) on or with respect to any property or asset (including any document or instrument in respect of goods or accounts receivable) of HoldCo, whether now owned or hereafter acquired, or any income or profits therefrom.

  • The direct or indirect modification, amendment or prepayment of the Incurred Debt, if any, by the Company or HoldCo Sub prior to the seventh (7th) anniversary of the last closing of the transactions contemplated by the Formation Agreement.

  • The purpose of HoldCo Sub is to own 99.999% of the percentage interests in OpCo, to perform its duties under the Management Agreement, to make the distributions that it is obligated to make under this Agreement, to incur the Incurred Debt, if applicable, and to conduct all business activities related thereto.


More Definitions of Incurred Debt

Incurred Debt means any Indebtedness for borrowed money the Company incurs after the date hereof in one transaction, or in a series of related transactions, having an aggregate principal amount in excess of $25,000,000.00.
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