Examples of Interim debt in a sentence
Notwithstanding the foregoing, solely for the purposes of calculating the Consolidated Net Leverage Ratio pursuant to this Section 7.11(b), Excluded Interim Debt shall not be included in Consolidated Funded Debt during any period in which (and for so long as) such Excluded Interim Debt is properly designated as and qualifies as Excluded Interim Debt under and in accordance with Section 7.03.
The Member owns all of the issued and outstanding equity interests of the Company, free and clear of all Encumbrances, other than transfer restrictions under federal securities Laws and Encumbrances created under the Credit Agreement or any Interim Debt Financing that will be terminated at Closing upon payoff of the Indebtedness thereunder.
The undersigned Holder hereby waives, and elects not to exercise, any rights Holder may otherwise have under the provisions of Section 1(d) (Most Favored Nations) of the Original Note with respect to the Interim Debt Financing or Senior Debt Modifications, to the extent either the Interim Debt Financing or Senior Debt Modifications would constitute “Other Debt” as defined in such Section 1(d).
Notwithstanding the foregoing, the Company will recognize the Interim Debt in the books and accounts of the Company.
Upon delivery of the certificates representing the Magellan Shares and Magellan Warrants, the Company shall confirm the Interim Debt obligation and provide evidence of the Interim Debt as the Shareholder may reasonably request in writing, including a promissory note, if requested.
Interim Debt Lake Mead Partners, LLC received an interim loan from our manager in the amount of $2,608,100 in connection with our acquisition of Lake Mead Crossing.
The Borrower shall provide a compliance certificate for the Interim Debt Service Coverage Requirement no later than 30 days after the test date of December 31, 2010 (the “Test Date”).
See "Certain Relationships and Related Transactions – Mezzanine Debt" and "Certain Relationships and Related Transactions – Interim Debt" for more details regarding current indebtedness that may be paid down using offering proceeds.
Upon payment in full of the Interim Debt, the Liens securing the Interim Debt shall be released and the lenders under the Interim Debt will no longer be parties to the Intercreditor Agreement.
The closing of the sale and purchase of the note representing the Interim Debt (the “Interim Debt Closing”) occurred on March 5, 2002.