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, 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.
Sample 1

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.

  • Administrative Agent shall have received an Officer's Certificate of Company stating that, after giving effect to the transactions described in this subsection 4.1F, the Indebtedness and unfunded credit facilities of Company and its Subsidiaries (other than Indebtedness and unfunded credit facilities under the Loan Documents and the New Sub Debt) shall consist of the aggregate principal amount of outstanding Indebtedness and commitments to lend described in Schedule 7.1 annexed hereto.

  • 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 New Sub Debt Indenture shall be in the form of Exhibit 4.1 to the Registration Statement of Company on Form S-3 (Registration No. 333-22521) filed with the SEC on February 28, 1997, as amended by Amendment No. 1 and Amendment No. 2 thereto, with such changes thereto, if any, that have been approved by Administrative Agent or that would otherwise have been permitted to be made pursuant to subsection 7.9 if the New Sub Debt were issued and outstanding at the time of any such change.

  • 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 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.

  • Holdings and Company shall not designate any Indebtedness as "Designated Senior Debt" (as defined in the New Sub Debt Indentures or the Junior Subordinated Seller Notes) for purposes of the New Sub Debt Indentures or the Junior Subordinated Seller Notes without the prior written consent of Requisite Lenders.

  • 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.

  • 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.


More Definitions of New Sub Debt

New Sub Debt means $600 million of 8-5/8% Senior Subordinated Notes due 2009 issued by the Company.
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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 Guarantor or any other Person to the Administrative Agent pursuant to Section 6.12 or otherwise.

  • Guarantor Joinder Agreement means a guarantor joinder agreement substantially in the form of Exhibit 7.12 delivered by a Domestic Subsidiary of the Borrower pursuant to Section 7.12.

  • 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 6.12 or otherwise.

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

  • Lender Joinder Agreement means a joinder agreement in a form reasonably satisfactory to the Administrative Agent delivered in connection with Section 2.22.

  • Borrower Joinder Agreement means an agreement in substantially the form of Exhibit I or any other form approved by the Administrative Agent.

  • Joinder Supplement means an agreement among the Borrower, a Lender, its Lender Agent and the Administrative Agent in the form of Exhibit E to this Agreement (appropriately completed) delivered in connection with a Person becoming a Lender hereunder after the Closing Date.

  • 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 secured by any mortgage, lien, charge, pledge or security interest of any kind.

  • 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 means any Indebtedness of the Loan Parties that has been issued for the purpose of financing, in part, the acquisition of an Acquired Entity or Business.

  • 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 means an instrument substantially in the form of Exhibit I hereto.

  • 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 secured by a Lien on Collateral and is permitted to be so secured by:

  • Additional Governors means the Governors appointed pursuant to Article 62 and 62A;

  • Additional Grantor means each Subsidiary of the Borrower which hereafter becomes a Grantor pursuant to Section 7.15 hereof and Section 5.11 of the Loan Agreement.

  • Additional Grantors shall have the meaning assigned in Section 5.3.