New Senior Debt definition

New Senior Debt means any Permitted European Senior Debt, any Permitted Unsecured Debt and/or Permitted Secured Debt which, in each case, does not constitute Subordinated Indebtedness.

New Senior Debt means financial indebtedness incurred pursuant to the New Senior Bonds which pursuant to the terms and conditions of the New Senior Bonds and the Intercreditor Agreement shall rank pari passu with the New Senior Bonds and share the security package, provided that each creditor under such debt (or its/their agent) has acceded to the Intercreditor Agreement.

New Senior Debt means Indebtedness (including guarantees thereof and Indebtedness and guarantees issued in exchange or in replacement thereof containing substantially identical terms) having the following characteristics: (u) the obligors (whether borrowers, issuers, guarantors, pledgors or other credit support parties) shall include one or more of the obligors of the Obligations (other than Foreign Subsidiaries) and no other Persons, (v) no collateral (other than all or any portion of the Collateral) shall secure such Indebtedness and the Liens on the Collateral, if any, shall rank subordinate to or pari passu with the Liens securing the Obligations, (w) such Indebtedness shall not have any scheduled payment of principal, prepayment, mandatory redemption or sinking fund payment in excess of 1% of the outstanding principal amount per year prior to April 1, 2008 except for provisions requiring any permitted obligor under clause (u) above to repurchase all or a portion of New Senior Debt from the holders thereof upon the occurrence of a “change of control” or following an “asset sale” (such terms to be defined in the indenture(s) governing such New Senior Debt), (x) the Net Debt Securities Proceeds of such Indebtedness shall be applied as required by subsection 2.4B(ii)(e), (y) the governing documentation for such Indebtedness shall not contain any provision prohibiting the creation or assumption of any Lien on any of the properties or assets of Company or its Subsidiaries, whether then owned or thereafter acquired, to secure payment of the Obligations or any agreement renewing, refinancing or extending the Obligations or this Agreement, and (z) all other terms and conditions shall be substantially comparable to those prevailing in the market place for comparable debt issuances as determined by the Administrative Agent in its reasonable judgment. For the avoidance of doubt, in any event, Existing Xxxxx-Xxxxxxxx Senior Secured Notes and Existing Xxxxx-Xxxxxxxx Senior Unsecured Notes and related guarantees shall constitute New Senior Debt.

Examples of New Senior Debt in a sentence

• The New Senior Debt Facility is secured in the same manner as the Senior Term Loan Facility.Atlatsa Holdings will provide security to RPM in relation to the Atlatsa Holdings Vendor Finance Loan by way of a pledge and cession of its entire shareholding in Atlatsa, which shares remain subject to a lock-in arrangement through to 2020.

• The Confirmation Order shall authorize the Reorganized Debtors to execute and deliver the New Senior Debt Facility documents and perform their obligations thereunder, including, without limitation, the payment or reimbursement of any fees, expenses, losses, damages or indemnities.

• On the Effective Date, the Reorganized Debtors shall enter into the New Senior Debt Agreement and such New Senior Debt Facility documents as SEACOR may reasonably require, subject to such modifications as the Reorganized Debtors may deem to be reasonably necessary to consummate the New Senior Debt Facility.

• Upon the Effective Date, all actions contemplated by the Plan shall be deemed authorized and approved in all respects, including (1) selection of the directors and officers of the Reorganized Debtors, (2) the distribution of the New Equity Interests as provided herein, (3) the execution and entry into the New Senior Debt Agreement, (4) the PCTC Transaction and (5) all other actions contemplated by the Plan (whether to occur before, on, or after the Effective Date).

• The Debtors anticipate that Cash on hand will include Remaining Cash on Hand from the business, Sale Proceeds, New Money Capital Infusion, funds available under the New Senior Debt Facility, Cash generated by the PCTC Transaction, and Cash generated by the sale or liquidation of other de minimis assets.

More Definitions of New Senior Debt

New Senior Debt means any Financial Indebtedness incurred in accordance with paragraph (m) of the definition of Permitted Debt, provided that the relevant New Senior Debt Creditor and/or its representative has entered into or acceded to an Intercreditor Agreement, providing for the pari passu ranking of the Bonds and the relevant New Senior Debt.

New Senior Debt as defined in Section 2.2.

New Senior Debt means Indebtedness of any Subsidiary of the Company issued after the date hereof so long as such Indebtedness is issued in compliance with the terms and provisions of the Credit Agreement and constitutes "New Senior Debt" under the Credit Agreement.

New Senior Debt as used herein shall not include the Existing Xxxxx-Xxxxxxxx Senior Unsecured Notes.

New Senior Debt means Indebtedness having the following characteristics: (u) the obligors (whether borrowers, issuers, guarantors, pledgors or other credit support parties) shall include one or more of the obligors of the Obligations (other than Foreign Subsidiaries) and no other Persons, (v) no collateral (other than all or any portion of the Collateral) shall secure such Indebtedness and the Liens on the Collateral shall rank subordinate to or pari passu with the Liens securing the Obligations, (w) such Indebtedness shall not have any scheduled payment of principal, prepayment, mandatory redemption or sinking fund payment in excess of 1% of the outstanding principal amount per year prior to March 31, 2006, (x) the Net Debt Securities Proceeds of such Indebtedness shall be applied as required by subsection 2.4A(ii)(e), (y) shall not contain any provision prohibiting the creation or assumption of any Lien on any of the properties or assets of Company or its Subsidiaries, whether then owned or thereafter acquired, to secure payment of the Obligations or any agreement renewing, refinancing or extending the Obligations or this Agreement, and (z) all other terms and conditions shall be substantially comparable to those prevailing in the market place for comparable debt issuances as determined by the Administrative Agent in its reasonable judgment.

New Senior Debt means Indebtedness in an aggregate principal amount not to exceed $45,000,000 at any one time outstanding under the New Credit Agreement as such agreement may be amended, restated, supplemented or otherwise modified or replaced, in whole or in part, from time to time hereafter, together with any refunding or replacement of such Indebtedness, including with any other lender or group of lenders.

New Senior Debt means any term loan and/or revolving facility (other than the Senior Debt) taken up by the Issuer from Danske Bank AS, Danmark, Sverige Filial (or any other Person (other than a Shareholder) if taken up by the Issuer on the same terms or better compared to the terms provided by Danske Bank AS, Danmark, Sverige Filial).