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 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.
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.
Examples of New Senior Debt in a sentence
The Option A Cash Consideration, the Equityco Shares, the rights pursuant to the Equityco Class 3 Warrant Agreement and the Equityco Class 4 Warrant Agreement, as listed on Schedule 2 hereto and the New Senior Debt and New Junior Debt listed on Schedule 3 shall sometimes collectively be referred to herein as the “Consideration.” The Cash Consideration shall be held in the Escrow Account pending distribution, but shall not be invested by the Disbursing Agent.
More Definitions of New Senior Debt
New Senior Debt as defined in Section 2.2.
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. Addition of a New Senior Debt Creditor definition The Issuer proposes to add a definition of New Senior Debt Creditor with the following wording.
New Senior Debt means the $120 million senior secured credit facility to be entered into by the Reorganized Debtors, as borrowers, and the Senior Lenders, on the Effective Date.
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).
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 as used herein shall not include the Existing Xxxxx-Xxxxxxxx Senior Unsecured Notes.
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.