Indefeasibly Paid means, with respect to the making of any payment on or with respect to any Senior Claim, a payment of such Senior Claim in full that is not subject to avoidance under Section 547 of the Bankruptcy Code.
Indefeasibly Paid means: (a) with respect to the making of any payment on or in respect of the Indebtedness, that such payment of such Indebtedness has been paid in full in cash (or that such payment of such Indebtedness has been otherwise satisfied in a manner acceptable to the holders of the Indebtedness in their sole and absolute discretion); and (b) that any and all commitments by Lender to make any loan or advance or extend any other credit that would, if made or extended, constitute Indebtedness have been irrevocably terminated.
Indefeasibly Paid means, with respect to the making of any payment on or in respect of any Senior Debt, a payment of such Senior Debt in full with respect to which (i) more than 90 days has passed since the date of such payment without there having been filed any Proceeding with respect to the Credit Party or (ii) in the event any Proceeding is filed within 90 days of the date of such payment, no claim of avoidance under section 547 of the Bankruptcy Code is made within 2 years of the date of commencement of such Proceeding.
Examples of Indefeasibly Paid in a sentence
Until all Senior Debt shall have been Indefeasibly Paid and the Commitments terminated, without the consent of the Agent and the holders of all of the Senior Debt, no holder of any Junior Debt shall, directly or indirectly, agree to subordinate such Junior Debt to any indebtedness, obligations or liabilities other than the Senior Debt.
The Junior Creditors agree that no payment or distribution to the Senior Creditors pursuant to the provisions of this Agreement shall entitle any Junior Creditor to exercise any rights of subrogation in respect thereof until the Senior Indebtedness shall have been Indefeasibly Paid in full.
The provisions of this Section 12 shall survive any termination of this Agreement and remain in full force and effect for a period of 91 days after the Senior Debt has been Indefeasibly Paid and the Commitments have been terminated.
Lender shall have the rights contained in this Section 9 at all times until the Indebtedness has been Indefeasibly Paid.
In the event that the Senior Obligations (other than contingent obligations) shall have been Indefeasibly Paid and the Senior Commitments cancelled, and a mandatory prepayment of Holdings Term Loans occurs pursuant to Sections 2.12(a)(ii), 2.12(b)(ii) or 2.12(d), then interest payable pursuant to this Section 2.6(f) in connection with such Holdings Term Loans repaid shall be calculated as if such event giving rise to such mandatory prepayment occurred on the fifth anniversary of the Effective Date.
More Definitions of Indefeasibly Paid
Indefeasibly Paid means (a) at any time before both Additional Units have achieved Commercial Operation (as each such term is defined in the Ownership Agreement), paid by a Borrower and with respect to such payment (i) more than 90 days have passed since the date such payment was made without there having been filed any Insolvency Proceeding with respect
Indefeasibly Paid means (a) at any time before both Additional Units have achieved Commercial Operation (as each such term is defined in the Ownership Agreement), paid by a Borrower and with respect to such payment (i) more than 90 days have passed since the date such payment was made without there having been filed any Insolvency Proceeding with respect to such Borrower, or (ii) in the event any Insolvency Proceeding shall have been filed with respect to such Borrower within 90 days of the date of such payment, no claim of avoidance with respect to such payment under section 547 of the Bankruptcy Code shall have been made before the expiration of the applicable period prescribed in Section 546(a) of the Bankruptcy Code, and (b) at any time from and after the Commercial Operation of both Additional Units, paid.
Indefeasibly Paid means paid by the Grantor and with respect to such payment (i) more than 90 days have passed since the date such payment was made without there having been filed any Insolvency Proceeding (as defined in the Loan Guarantee Agreement) with respect to the Grantor, or (ii) in the event any Insolvency Proceeding shall have been filed with respect to such Grantor within 90 days of the date of such payment, no claim of avoidance with respect to such payment under Section 547 of the Bankruptcy Code (as defined in the Owners Direct Agreement) shall have been made before the expiration of the applicable period prescribed in Section 546(a) of the Bankruptcy Code. This Deed to Secure Debt is intended to operate and is to be construed as a deed passing the title to the Secured Property to Grantee and is made under those provisions of the existing laws of the State relating to deeds to secure debt and is not a mortgage. This Deed to Secure Debt is also a security agreement granting a present and continuing security interest and security title in the portion of the Secured Property constituting personal property or fixtures.
Indefeasibly Paid means, with respect to the making of any payment or in respect of any Lender’s Debt, a payment in cash of such Lender’s Debt in full, which payment is not subject to avoidance or rescission in any Insolvency Proceeding that has been commenced at or within ninety (90) days of the time of such payment.
Indefeasibly Paid means, with respect to the making of any payment on or ----------------- in respect of any Senior Indebtedness, that such payment of such Senior Indebtedness has been paid in full in cash (or that such payment of such Senior Indebtedness has been otherwise satisfied in a manner acceptable to the holders of the Senior Indebtedness in their sole and absolute discretion) and has not been challenged as avoidable under Section 547 of the Bankruptcy Code or similar provisions of state law within 91 days of the receipt of the final payment thereof; provided, however, that if any Senior Creditor is later required to -------- ------- repay any amount received in respect of the Senior Indebtedness at a time when any Junior Creditor has received any payment in respect of the Subordinated Indebtedness after such 91 day period, then such Junior Creditor shall pay to the Senior Agent for the account of the Senior Creditors the amount of any such payments received in respect of the Subordinated Indebtedness up to the amount required to be repaid by the Senior Creditors, or any one or more of them, to or for the benefit of the Obligors, or any one or more of them, or their or its estate or creditors by reason of an avoidance under Section 547 of the Bankruptcy Code or similar provisions of state law or otherwise. In the event that any such payment of such Senior Indebtedness has been so challenged as avoidable within such 91 days, such payment shall be deemed "Indefeasibly Paid" only if and when such payment is determined, by a court of competent jurisdiction in a final, nonappealable case, to not be avoidable (and, in the event that such payment is determined to be avoidable, such payment shall not be deemed "Indefeasibly Paid"
Indefeasibly Paid. : means, with respect to the making of any payment on any Obligation, a payment of such Obligation in full that is not subject to avoidance under Section 547 of the U.S. Bankruptcy Code or any similar law or equitable principle.
Indefeasibly Paid means, with respect to the making of any payment ----------------- on any Obligation, a payment of such Obligation in full that is not subject to avoidance under Section 547 of the U.S. Bankruptcy Code or any similar law or equitable principle.