Intercompany Subordinated Indebtedness with respect to any Loan Party, Indebtedness owed by such Loan Party to the MLP or any Subsidiary that is subject to a subordination agreement substantially in the form of Exhibit H-1.
Intercompany Subordinated Indebtedness has the meaning specified in Section 7.03(i).
Intercompany Subordinated Indebtedness means that certain Subordinated Indebtedness in the aggregate principal amount of $45,000,000 pursuant to that certain promissory note dated as of the Closing Date, made by Holdings in favor of Torrid Holding LLC, a Delaware limited liability company (“TopCo”), which Indebtedness is subordinated to the Obligations pursuant to the Intercompany Subordination Agreement.
Examples of Intercompany Subordinated Indebtedness in a sentence
Borrower and each Guarantor agrees that the Intercompany Subordinated Indebtedness (as defined below) shall be subordinate and junior in right of payment to the prior payment in full of all Obligated Party Obligations (as defined below) as herein provided.
Cause any Intercompany Indebtedness owing by any Loan Party to become Intercompany Subordinated Indebtedness (a) on or prior to the Closing Date, in respect of any such Intercompany Indebtedness in existence as of the Closing Date or (b) contemporaneously with the incurrence thereof, in respect of any such Intercompany Indebtedness incurred at any time after the Closing Date.
Borrower shall not, and shall not suffer or permit any of its Restricted Subsidiaries to, directly or indirectly, pay or prepay any amount of principal or cash interest with respect to any Intercompany Subordinated Indebtedness, or purchase or redeem any Intercompany Subordinated Indebtedness, if a Default or Event of Default then exists or would result therefrom.
If any sums shall be paid to Borrower by any Subsidiary Guarantor or any other Person on account of the Intercompany Subordinated Indebtedness when such payment is not permitted hereunder, such sums shall be held in trust by the Borrower for the benefit of Administrative Agent and the Lenders and shall forthwith be paid to and applied by Administrative Agent against the Credit Facility Senior Indebtedness in accordance with the terms hereof.
Borrower agrees that the Intercompany Subordinated Indebtedness (as defined below) shall be subordinate and junior in right of payment to the prior payment in full of all Credit Facility Senior Indebtedness (as defined below) as herein provided.
More Definitions of Intercompany Subordinated Indebtedness
Intercompany Subordinated Indebtedness with respect to any Loan Party, Indebtedness owed by such Loan Party to the MLP or any Subsidiary that is subject to a subordination agreement substantially in the form of Exhibit H-1. “Interest Payment Date”: (a) with respect to any Base Rate Loan or Prime Rate Loan (including, for the avoidance of doubt, any Swing Line Loan), (i) prior to the Dollar Working Capital Facility Committed Tranche Maturity Date, the Dollar Working Capital Facility Uncommitted Tranche Maturity Date, the Multicurrency Working Capital Facility Maturity Date or the Acquisition Facility Maturity Date, as applicable, the first Business Day of each month and (ii) the Dollar Working Capital Facility Committed Tranche Maturity Date, Dollar Working Capital Facility Uncommitted Tranche Maturity Date, the Multicurrency Working Capital Facility Maturity Date or the Acquisition Facility Maturity Date, as applicable, and (b) with respect to any CDOR Loan or Term SOFR Loan, the last day of each Interest Period with respect thereto and, with respect to any Term SOFR Loan having an Interest Period of six (6) months, the last day of such Interest Period and the date which is three (3) months after the start of such Interest Period and the last day of such Interest Period. “Interest Period”: (a) with respect to any Term SOFR Loan: (i) initially, the period commencing on the Borrowing Date or Conversion date, as the case may be, with respect to such Term SOFR Loan and ending one (1), three (3) or six (6) months thereafter, as irrevocably selected by the
Intercompany Subordinated Indebtedness means any Indebtedness of Borrower or its Restricted Subsidiaries owing to Cinemark USA and its Restricted Subsidiaries.
Intercompany Subordinated Indebtedness means, with respect to each Guarantor, all indebtedness, liabilities, and obligations of any other Guarantor and of Borrower (herein a “Subordination Party”) to such Guarantor, whether such indebtedness, liabilities, and obligations now exist or are hereafter incurred or arise, or are direct, indirect, contingent, primary, secondary, several, joint and several, or otherwise, and irrespective of whether such indebtedness, liabilities, or obligations are evidenced by a note, contract, open account, or otherwise, and irrespective of the Person or Persons in whose favor such indebtedness, obligations, or liabilities may, at their inception, have been, or may hereafter be created, or the manner in which they have been or may hereafter be acquired by such party. The term “Obligated Party Obligations” means, with respect to any Subordination Party, all obligations, indebtedness and liability of such Subordination Party to the Agents and the Banks or any one of them under the Loan Documents (including, without limitation, any and all post–petition interest and expenses whether or not allowed under any bankruptcy, insolvency or other similar law). Each Guarantor agrees that any and all Liens (including any judgment liens) upon any Subordination Party’s assets securing payment of any Intercompany Subordinated Indebtedness shall be and remain inferior and subordinate to any and all Liens upon any Subordination Party’s assets securing payment of the Obligated Party Obligations or any part thereof, regardless of whether such Liens in favor of a Guarantor, an Agent or any Bank presently exist or are hereafter created or attached. Without the prior written consent of the Administrative Agent, no Guarantor shall (i) file suit against any Subordination Party or exercise or enforce any other creditor’s right it may have against any Subordination Party, or (ii) foreclose, repossess, sequester, or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any obligations of any Subordination Party to such party or any Liens held by such party on assets of any Subordination Party. In the event of any receivership, bankruptcy, reorganization, rearrangement, debtor’s relief, or other insolvency proceeding involving any Subordination Party as debtor, the Administrative Agent shall have the right ...
Intercompany Subordinated Indebtedness with respect to any Loan Party, Indebtedness owed by such Loan Party to the MLP or any Subsidiary that is subject to a subordination agreement substantially in the form of Exhibit H-1. “Interest Payment Date”: (a) with respect to any Base Rate Loan or Prime Rate Loan (including, for the avoidance of doubt, any Swing Line Loan), (i) prior to the Dollar Working Capital Facility Maturity Date, the Multicurrency Working Capital Facility Maturity Date or the Acquisition Facility Maturity Date, as applicable, the first Business Day of each month and (ii) the Dollar Working Capital Facility Maturity Date, the Multicurrency Working Capital Facility Maturity Date or the Acquisition Facility Maturity Date, as applicable, (b) with respect to any Eurocurrency Loan, the last day of each Interest Period with respect thereto and, with respect to any Eurocurrency Loan having an Interest Period of six (6) months, the last day of such Interest Period and the date which is three (3) months after
Intercompany Subordinated Indebtedness means, with respect to a Subsidiary Guarantor, all indebtedness, liabilities, and obligations of such Subsidiary Guarantor to Borrower, whether such indebtedness, liabilities, and obligations now exist or are hereafter incurred or arise, or are direct, indirect, contingent, primary, secondary, several, joint and several, or otherwise, and irrespective of whether such indebtedness, liabilities, or obligations are evidenced by a note, contract, open account, or otherwise, and irrespective of the Person or Persons in whose favor such indebtedness, obligations, or liabilities may, at their inception, have been, or may hereafter be created, or the manner in which they have been or may hereafter be acquired by Borrower and (ii) “Credit Facility Senior Indebtedness” means, with respect to each Subsidiary Guarantor, all of the obligations, indebtedness and liability of the such Subsidiary Guarantor to the Administrative Agent, the Issuing Banks and the Lenders, or any of them, arising pursuant to the Subsidiary Guaranty or any of the other Loan Documents, whether now existing or hereafter arising, whether direct, indirect, related, unrelated, fixed, contingent, liquidated, unliquidated, joint, several, or joint and several, including any and all post–petition interest and expenses (including attorneys’ fees) whether or not allowed under any bankruptcy, insolvency, or other similar law.
Intercompany Subordinated Indebtedness means the Subordinated Indebtedness described in Section 4.01(g) hereof, which Indebtedness is subordinated to the Obligations pursuant to the Intercompany Subordination Agreement.
Intercompany Subordinated Indebtedness any Intercompany Indebtedness which is also Subordinated Indebtedness.