New Sub Debt definition

New Sub Debt means the $240,000,000 in aggregate principal amount of 97/8% Senior Subordinated Notes due 2007 of Company issued pursuant to the New Sub Debt Indenture.
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New Sub Debt means the junior unsecured credit facility to be entered into by SNPF III, as borrower, and certain of the Senior Lenders, in an amount equal to 37.5% of the Converted Senior Lender Debt.
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New Sub Debt means $600 million of 8-5/8% Senior Subordinated Notes due 2009 issued by the Company.
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Examples of New Sub Debt in a sentence

  • The New LLC Interests and New Sub Debt issued to the Senior Lenders on account of Class 2 Claims shall have a total value equal to the Converted Senior Lender Debt.

  • The exchange ratio of New Sub Debt to New LLC Interests for purposes of the Allocation Election shall be $1 of New Sub Debt for one New LLC Interest and vice versa.

  • By making an Allocation Election on its ballot, a Senior Lender may (a) opt out of receiving its Pro Rata Distribution of the New Sub Debt in order to receive, to the extent available, additional New LLC Interests or (b) opt out of receiving its Pro Rata Distribution of New LLC Interests in order to receive, to the extent available, additional New Sub Debt.

  • Each Holder of a Senior Lender Claim in Class 2 will receive on the Effective Date, in full and final satisfaction, settlement, release, and discharge of and in exchange for such Holder’s Senior Lender Claim, its Pro Rata Distribution of (a) New Senior Debt and (b) subject to the Allocation Election, (i) New LLC Interests and/or (ii) New Sub Debt.

  • The amount of New LLC Interests and New Sub Debt that each Senior Lender will receive under the Plan is subject to adjustment based on each Senior Lender’s Allocation Election.

  • The ability of a Senior Lender to receive additional New Sub Debt or additional New LLC Interests in accordance with its Allocation Election depends on additional New Sub Debt and/or additional New LLC Interests being eligible for Distribution as a result of another Senior Lender’s Allocation Election.

  • Prior to the Effective Date, the Plan Proponent shall allocate the New LLC Interests and New Sub Debt among the Senior Lenders in accordance with the preferences stated in the Allocation Elections.

  • These Projections show that the Reorganized Debtors, with the aid of the Exit Facility and the willingness of the Senior Lenders to reduce their Claims to the New Senior Debt and New Sub Debt, will generate enough cash flow to support their obligations and fund their operations.

  • The New Sub Debt will be unsecured and paid pari passu with any distributions to holders of New LLC Interests.

  • In the event that the Senior Lenders oversubscribe for one form of consideration such that each Allocation Election cannot be fully accommodated, each affected Allocation Election shall be reduced Pro Rata to the extent necessary to fully distribute the New Sub Debt and the New LLC Interests allocated for Distribution to Class 2.


More Definitions of New Sub Debt

New Sub Debt means, if the Plan is implemented pursuant to the Lender Confirmation Option, the junior unsecured credit facility to be entered into by SNPF III, as borrower, and certain of the Senior Lenders, in an amount equal to 37.5% of the Converted Senior Lender Debt.
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Related to New Sub Debt

  • New Subsidiary means, as of any date of determination, any Person in which the Company after the Subscription Date, directly or indirectly, (i) owns or acquires any of the outstanding capital stock or holds any equity or similar interest of such Person or (ii) controls or operates all or any part of the business, operations or administration of such Person, and all of the foregoing, collectively, “New Subsidiaries.”

  • Additional Guarantors shall have the meaning assigned to such term in the Preamble hereof.

  • Additional Guarantor means a company which becomes an Additional Guarantor in accordance with Clause 25 (Changes to the Obligors).

  • Original Guarantors shall have the meaning assigned to such term in the Preamble hereof.

  • Original Guarantor means the Persons identified as such in the first paragraph of this Indenture until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter each such successor Person shall be an “Original Guarantor”.

  • Guaranty Joinder Agreement means each Guaranty Joinder Agreement, substantially in the form thereof attached to the Guaranty, executed and delivered by a Subsidiary to Administrative Agent pursuant to Section 6.14.

  • Guarantor Joinder Agreement means a guarantor joinder agreement substantially in the form of Exhibit 7.14 delivered by a Domestic Subsidiary of the Borrower pursuant to Section 7.14.

  • Additional Secured Debt Designation means a notice in substantially the form of Exhibit A.

  • Additional Borrower means a company which becomes an Additional Borrower in accordance with Clause 25 (Changes to the Obligors).

  • Security Joinder Agreement means each Security Joinder Agreement, substantially in the form thereof attached to the Security Agreement, executed and delivered by a Guarantor or any other Person to the Administrative Agent pursuant to Section 7.12.

  • Subsidiary Joinder Agreement means a joinder to this Agreement, substantially in the form of Exhibit C.

  • Lender Joinder Agreement as defined in Subsection 2.8(c).

  • Borrower Joinder Agreement means a Borrower Joinder Agreement substantially in the form of Exhibit B-1.

  • Joinder Supplement An agreement among the Borrower, a Lender and the Administrative Agent in the form of Exhibit H to this Agreement (appropriately completed) delivered in connection with a Person becoming a Lender hereunder after the Closing Date, as contemplated by Section 2.1(c), a copy of which shall be delivered to the Collateral Agent and the Collateral Manager.

  • Guarantor Joinder means a joinder by a Person as a Guarantor under the Loan Documents in the form of Exhibit 1.1(G)(1).

  • New Debt has the meaning assigned to such term in the definition of Permitted Refinancing Indebtedness.

  • Secured Debt means Debt of the Company or its Subsidiaries secured by an Encumbrance on the property of the Company or its Subsidiaries.

  • Additional Senior Debt Parties means, with respect to any series, issue or class of Additional Senior Debt, the holders of such Indebtedness, the Representative with respect thereto, any trustee or agent therefor under any related Additional Senior Debt Documents and the beneficiaries of each indemnification obligation undertaken by the Borrower or any Guarantor under any related Additional Senior Debt Documents.

  • Acquisition Indebtedness any Indebtedness of the Company or any of its Subsidiaries that has been issued for the purpose of financing, in whole or in part, a Material Acquisition and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any pre-existing Indebtedness of the Company, any of its Subsidiaries or the person(s) or assets to be acquired); provided that (a) the release of the proceeds thereof to the Company and its Subsidiaries is contingent upon the consummation of such Material Acquisition and, pending such release, such proceeds are held in escrow (and, if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such acquisition is terminated prior to the consummation of such Material Acquisition or if such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Company and its Subsidiaries in respect of such Indebtedness) or (b) such Indebtedness contains a “special mandatory redemption” provision (or other similar provision) or otherwise permits such Indebtedness to be redeemed or prepaid if such Material Acquisition is not consummated by the date specified in the definitive documentation relating to such Indebtedness (and if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated in accordance with its terms prior to the consummation of such Material Acquisition or such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such Indebtedness is so redeemed or prepaid within 90 days of such termination or such specified date, as the case may be).

  • Guarantee Amount means the maximum amount payable under a guarantee which amount shall be specifically set forth in writing at the time the guarantee is entered into by the authority.

  • Guaranty Supplement has the meaning specified in Section 8.05.

  • Additional Subsidiary Guarantor means each Person that becomes a Subsidiary Guarantor after the Closing Date by execution of an Accession Agreement as provided in Section 6.12.

  • Additional Indebtedness means any Additional Specified Indebtedness that (1) is permitted to be secured by a Lien (as defined below) on Collateral by:

  • Additional Governors means Governors who may be appointed by the Secretary of State under the Articles of Association.

  • Additional Grantor means a Subsidiary of Company that becomes a party hereto after the date hereof as an additional Grantor by executing a Counterpart.

  • Bid guarantee means the bid bond, cashier's check or certified check submitted as part of the bid proposal, payable to the contracting unit, ensuring that the successful bidder will enter into a contract.