Material Debt Agreement definition

Material Debt Agreement means any agreement, instrument or other document existing as of the Effective Date and relating to any Material Debt.

Material Debt Agreement means any agreement under which any Indebtedness aggregating $125,000,000 or more is outstanding or which provides for the incurrence of Indebtedness of $125,000,000 or more.”

Material Debt Agreement means any agreement (or group of related agreements) under which the Borrower and/or any Subsidiary at any time incurs (directly, by assumption, by operation of law or otherwise) or has the right to incur (pursuant to committed financing) Indebtedness in excess of $50,000,000; provided that any such agreement (or group of related agreements) shall cease to be a Material Debt Agreement if the total amount of Indebtedness and unfunded commitments thereunder is permanently reduced to $30,000,000 or less.

Examples of Material Debt Agreement in a sentence

• Notwithstanding the foregoing, if the incorporation of any provision by reference from any Material Debt Agreement would result in the violation by the Borrower of the terms of that Material Debt Agreement, or be in violation of any law, rule or regulation (as interpreted by any court of competent jurisdiction), then this Agreement shall not incorporate that provision.

• Neither the Company nor any Subsidiary shall be or become a primary obligor or Guarantor of the Debt incurred pursuant to any Material Debt Agreement unless the Company or such Subsidiary shall also be a Guarantor under this Agreement prior to or concurrently therewith, except to the extent any Foreign Subsidiary is a primary borrower of Debt incurred under the Credit Agreement.

• In the event that any Obligor shall enter into, or shall have entered into, any Material Debt Agreement, wherein the covenants and agreements contained therein shall be more restrictive than the covenants and agreements set forth herein, then such Obligor shall immediately be bound hereunder (without further action) by such more restrictive covenants and agreements with the same force and effect as if such covenants and agreements were written herein.

• Neither the Company nor any Subsidiary shall be or become a primary obligor or Guarantor of the Debt incurred pursuant to any Material Debt Agreement unless the Company or such Subsidiary shall also be a Guarantor under this Agreement prior to or concurrently therewith, except to the extent any Foreign Subsidiary is a primary obligor or guarantor of Debt incurred under the Credit Agreement.

• In addition to the foregoing, Obligors shall provide prompt written notice to the holders of the Notes of the creation or existence of any Material Debt Agreement that has such more restrictive provisions, and shall, within fifteen (15) days thereafter (if requested by Required Holders), execute and deliver to the holders of the Notes an amendment to this Agreement that incorporates such more restrictive provisions, with such amendment to be in form and substance satisfactory to the Required Holders.

More Definitions of Material Debt Agreement

Material Debt Agreement has the meaning specified in Section 7.15.

Material Debt Agreement means monetary obligation (regardless of amount) under any currently existing or hereafter arising debenture or note (other than pursuant to the Loan Documents) or any mortgage, credit agreement or other facility, indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may be secured or evidenced, any Indebtedness or under any long term leasing or factoring arrangement, if the aggregate amount of any such obligations and liabilities of Borrower and the Subsidiaries thereof exceed $1,000,000 (exclusive of (x) any monetary obligations of Borrower or any Subsidiary thereof with respect to defaults or terminations of less than ten percent (10%) of Borrower’s real property leases or other agreements or arrangements pursuant to which Borrower is entitled to the use or occupancy of any space, and (y) any failure to pay when due any monetary obligations under any real property leases or other agreements or arrangements pursuant to which Borrower is entitled to the use or occupancy of any space, vendor payables or factoring arrangements, which obligations are not more than 30 days past due).

Material Debt Agreement means the Meritor Credit Agreement and any other agreement under which any Material Debt was created or is governed or which provides for the incurrence of Debt in an amount which would constitute Material Debt (whether or not an amount of Debt constituting Material Debt is outstanding thereunder).

Material Debt Agreement means any agreement evidencing Indebtedness of CCG or any of its Affiliates in excess of $2,500,000.

Material Debt Agreement. Any debt, repurchase agreement, loan and security agreement or similar credit facility or agreement for borrowed funds in the amount of twenty million dollars ($20,000,000) or more in the aggregate between a lender and the Subservicer, the Corporate Parent or any subsidiary or Affiliate of Subservicer (other than Automotive Capital Services, Inc. and Liberty Home Equity Solutions, Inc.).

Material Debt Agreement means any debt instrument, lease (capital, operating or otherwise), guaranty, contract, commitment, agreement or other arrangement evidencing or entered into in connection with any Debt of any Obligor in excess of the amount of Seven Million Dollars ($7,000,000).

Material Debt Agreement means the Cloud Peak Credit Agreement and any other agreement under which any Material Debt was created or is governed or which provides for the incurrence of Debt in an amount which would constitute Material Debt (whether or not an amount of Debt constituting Material Debt is outstanding thereunder).