New Capital definition

New Capital means the aggregate gross amount of proceeds from any capital (whether in the form of debt, equity or otherwise) raised by the Borrower or any of its Subsidiaries in one or a series of financings after January 1, 2021 (including (i) amounts borrowed (that were previously undrawn) under committed term loan facilities existing as of such date and (ii) indebtedness borrowed in lieu of the committed term loan facilities described in the foregoing clause (i) if the incurrence of such indebtedness results in a reduction or termination of such commitments); provided that proceeds of any capital raise which are used substantially concurrently for (i) the purchase price of a new Vessel or (ii) repayment of existing Indebtedness (other than Indebtedness (x) maturing no later than the end of the first full calendar year following the date of such repayment or (y) under any revolving credit agreement the repayment of which is not accompanied by a corresponding permanent reduction in the related revolving credit commitments), in each case, shall not constitute New Capital.

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New Capital means securities or other investments qualifying as Tier 1 capital under the regulations of the Federal Reserve Board issued or made after December 31, 2008, including subordinated debt and trust preferred equity qualifying as Tier 1 capital so long as the maturity date (or earliest mandatory redemption or repurchase date) of such subordinated debt and trust preferred equity is no earlier than the date that is 6 months after the latest maturity date of any then outstanding New Guaranteed Notes.

New Capital shall have the meaning set forth in Section 2.8(a).

Examples of New Capital in a sentence

• In consideration for entering into, and conditional on fulfilling the obligations under, the Backstop Commitment Agreement, the Backstop Parties shall be entitled to receive on the Effective Date a fee equal to 5% of the New Capital Offering Amount, which fee shall be applied by the Backstop Parties to acquire additional New Second Lien Notes on the Effective Date.

• The Company will not, and will not cause or permit any of its Subsidiaries (other than Subsidiaries that are part of the Venezuelan Division) to, directly or indirectly, enter into any Sale Lease-Back Transactions other than Permitted New Capital Obligations that are permitted by Section 7.16(g) (Limitations on Incurrence of Additional Indebtedness) consisting of Sale Lease-Back Transactions.

• Should the Governmental Unit determine that the total level of New Capital Investment is lower than provided in the Agreement, the difference between the tax abated and the tax which should have been abated based upon the actual New Capital Investment as determined shall be paid to the Governmental Unit within 60 days of notification to the Owner of such determination.

• In consideration of L▇▇▇▇▇’s entering into this Agreement and agreeing to the Standstill, Borrow undertakes and agrees to seek to obtain the New Capital Amount and to pursue an uplisting of its common stock onto either the NASDAQ or NYSE stock exchanges, with all diligence and in good faith.

• Company and the Backstop Parties shall enter into the Backstop Commitment Agreement as at the date of this Term Sheet, pursuant to which, among other things, the Backstop Parties shall agree to backstop and consummate the New Capital Offering to the extent that Second Lien Noteholders do not subscribe for their Pro-Rata Share of the New Capital Offering Amount.

More Definitions of New Capital

New Capital shall have the meaning specified in the preamble hereof.

New Capital means the gross amount of proceeds from any capital (whether in the form of debt, equity or otherwise) raised by the Borrower or any of its Subsidiaries after the First Waiver Extension Date; provided that proceeds of any capital raise which are used substantially concurrently for (i) the purchase price of a new Vessel or (ii) repayment of existing Indebtedness (other than Indebtedness (x) maturing within one year of the date of such repayment or (y) under any revolving credit agreement the repayment of which is not accompanied by a corresponding permanent reduction in the related revolving credit commitments), in each case, shall not constitute New Capital.

New Capital means the proceeds from the sale of the New Common Stock.

New Capital means any and all financing, whether debt or equity, including borrowings by the Company, guaranties and other recourse financial obligations, other than credit lines available from time to time (other than any credit lines or amendments obtained with respect to such specific New Business).

New Capital means New Equity and New Strategic Capital.

New Capital means all capital raised by the Borrower or any of its Affiliates in connection with the consummation of the MobileMedia Transactions, including, without limitation, (A) the Additional Tranche C Loans, (B) the proceeds of any debt offering (including the New Arch Notes), and (C) the proceeds of any equity issuance (other than the rights offering contemplated by the MobileMedia Merger Documents in the anticipated amount of $217,000,000).

New Capital means securities or other investments qualifying as Tier 1 capital under the regulations of the Board of Governors of the Federal Reserve System issued or made after December 31, 2008, including subordinated debt and trust preferred equity qualifying as Tier 1 capital so long as the maturity date (or earliest mandatory redemption or repurchase date) of such subordinated debt and trust preferred equity is no earlier than the date that is 6 months after the latest maturity date of any then outstanding New Guaranteed Notes.