Interest Reserve Letter of Credit means any letter of credit issued hereunder for the benefit of the Trustee and the Senior Noteholders or the Senior Subordinated Noteholders, as applicable.
Interest Reserve Letter of Credit means any Letter of Credit issued under a Class A-1 Note Purchase Agreement that satisfies the conditions set forth in the third paragraph of Section 5.17 of this Base Indenture.
Interest Reserve Letter of Credit as defined in Section 4.1(c).
Examples of Interest Reserve Letter of Credit in a sentence
In connection with each Interest Reserve Letter of Credit, the Trustee as beneficiary shall be entitled to the benefit of every provision of the Base Indenture limiting the liability of or affording rights, benefits, protections, immunities or indemnities to the Trustee as if they were expressly set forth herein mutatis mutandis.
More Definitions of Interest Reserve Letter of Credit
Interest Reserve Letter of Credit means any letter of credit issued under a Variable Funding Note Purchase Agreement for the benefit of the Trustee and the Senior Noteholders or the Senior Subordinated Noteholders, as applicable. “Interest Reserve Release Event” means, as of any date of determination, and with respect to each Series of Senior Notes or Senior Subordinated Notes Outstanding, as applicable, any reduction in (i) the Class A-1 Notes Maximum Principal Amount or (ii) the Outstanding Principal Amount of such Series of Notes, disregarding any Series of Class A-1 Notes. “Interim Allocation Date” means the fourth Business Day immediately following the last day of each Interim Collection Period. “Interim Collection Period” means each period commencing (i) at 12:00 a.m. (Eastern time) on and including the 14th day of each calendar month and ending at 11:59:59 p.m. (Eastern time) on and including the 23rd day of such calendar month, (ii) at 12:00 a.m. (Eastern time) on and including the 24th day of each calendar month and ending at 11:59:59 p.m. (Eastern time) on and including the 13th day of the following calendar month. “Interim Manager’s Certificate” has the meaning specified in Section 4.1(a) of the Base Indenture. “Interim Successor Manager” means, upon the resignation or termination of the Manager pursuant to the terms of the Management Agreement and prior to the appointment of any successor to the Manager by the Control Party (acting at the direction of the Controlling Class Representative), the Back-Up Manager. “International Franchise Stores” means all Stores that are located outside of the United States. “International Franchisor” means Planet Fitness International Franchise, LLC and its successors and assigns. “International Franchisor IP License” means the International Franchisor IP License, dated as of the Initial Closing Date, by and between the Franchisor, as licensor, and the International Franchisor, as licensee, as amended, supplemented or otherwise modified from time to time. “International IP License Fees” means the licensing fees paid by International Franchisor to the Franchisor pursuant to the International Franchise IP License. “Investment Income” means the investment income earned on a specified account during a specified period, in each case net of all losses and expenses allocable thereto. “Investments” means, with respect to any Person(s), all investments by such Person(s) in other Persons in the form of loans (including guarantees), advances or capital cont...
Interest Reserve Letter of Credit means any letter of credit issued under any Class A-1 Note Purchase Agreement for the benefit of the Trustee, for the benefit of the Senior Noteholders or the Senior Subordinated Noteholders, as applicable. “Interest Reserve Release Amount” means, as of any Quarterly Calculation Date, with respect to a Co-Issuer, the excess, if any, of (i) the Available Senior Notes Interest Reserve Account Amount of such Co-Issuer over (ii) such Co-Issuer’s Allocable Share of the Senior Notes Interest Reserve Amount, in each case, for the immediately following Quarterly Payment Date. “Interest Reserve Release Event” means, with respect to any Series of Notes, an event allowing funds to be released from the Senior Notes Interest Reserve Accounts or the Senior Subordinated Notes Interest Reserve Accounts, as applicable, identified as an Interest Reserve Release Event with respect to such Series of Notes pursuant to the applicable Series Supplement. “Interim Successor Manager” means, upon the resignation or termination of a Manager pursuant to the terms of the applicable Management Agreement and prior to the appointment of any successor to the Manager by the Control Party (at the direction of the Controlling Class Representative), the Back-Up Manager. “Investment Company Act” means the Investment Company Act of 1940, as amended. “Investment Income” means the investment income earned on a specified account during a specified period, in each case net of all losses and expenses allocable thereto. “Investments” means, with respect to any Person(s), all investments by such Person(s) in other Persons in the form of loans (including guarantees), advances or capital contributions (excluding