Other Pari Passu Obligations definition

Other Pari Passu Obligations means other Indebtedness of the Company or the Restricted Subsidiaries that is equally and ratably secured with the Pari Passu Obligations as permitted by this Agreement and is designated by the Administrative Borrower as an Other Pari Passu Obligation.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Other Pari Passu Obligations means any Additional Notes and any other Indebtedness that is pari passu in right of payment with the Securities.

Other Pari Passu Obligations means any Indebtedness (i) ranking pari passu in right of payment with the Notes and (ii) not secured by any Lien on the Collateral that ranks senior in priority to any Lien on the Collateral held by the Collateral Agent for the benefit of the Second Lien Creditors.

Examples of Other Pari Passu Obligations in a sentence

If the aggregate principal amount of Notes and, if applicable, Other Pari Passu Obligations tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee will select the Notes and such Other Pari Passu Obligations to be purchased on a pro rata basis.
To the extent that the aggregate amount of the Securities and Other Pari Passu Obligations tendered pursuant to a Net Proceeds Offer is less than the Net Proceeds Offer Amount, the Company may use such excess Net Proceeds Offer Amount for general corporate purposes or for any other purposes not prohibited by this Indenture.
If the aggregate principal amount of Notes or the Other Pari Passu Obligations surrendered by such holders thereof exceeds the amount of Excess Proceeds, the Notes and such Other Pari Passu Obligations will be purchased on a pro rata basis based on the accreted value or principal amount of the Notes or such Other Pari Passu Obligations tendered.
No later than three Business Days after the termination of the Offer Period (the “Purchase Date”), the Issuer will apply all Excess Proceeds (the “Offer Amount”) to the purchase of Notes and, if applicable, such Other Pari Passu Obligations (on a pro rata basis, if applicable) or, if less than the Offer Amount has been tendered, all Notes and other Indebtedness tendered in response to the Asset Sale Offer.
If so permitted, the Company shall (i) notify the Pari Passu Collateral Agent and the Controlling Party in writing of such designation (and the Pari Passu Collateral Agent shall forward such notice to each Authorized Representative then existing) and (ii) cause any applicable agent in connection with such Other Pari Passu Obligations to execute and deliver to each Authorized Representative then existing, a Joinder Agreement on behalf of the applicable Other Pari Passu Secured Parties.

More Definitions of Other Pari Passu Obligations

Other Pari Passu Obligations means all Obligations with respect to any Indebtedness of the Issuer and the Guarantors (other than the Note Obligations) that is equally and ratably secured on a second-priority basis by the Collateral with the Notes, and is permitted to be incurred and so secured under the Pari Passu Documents and the Intercreditor Agreements.

Other Pari Passu Obligations means any Indebtedness (i) ranking pari passu in right of payment with the Notes, (ii) not secured by any Lien on the Collateral that ranks senior in priority to any Lien on the Collateral held by the Collateral Agent for the benefit of the Second Lien Creditors and (iii) containing provisions similar to those set forth in this Indenture with respect to offers to purchase, prepay or redeem with the proceeds of sales of assets.

Other Pari Passu Obligations means, as at any date, the aggregate outstanding amount of all net obligations of any Obligor owing on such date to any Lender, the Arranger, or any Affiliate of any Lender or the Arranger in respect of any Hedging Agreement to the extent that such obligations are secured pursuant to the Security Documents.

Other Pari Passu Obligations means other Indebtedness of the Company or any Subsidiary Guarantor that is secured by a Pari Passu Lien (subject to the Pari Passu Intercreditor Agreement) as permitted by the Pari Passu Documents and is designated by the Company as an Other Pari Passu Obligation pursuant to the Pari Passu Intercreditor Agreement.

Other Pari Passu Obligations means all Obligations with respect to any Indebtedness of the Issuer and the Guarantors (other than the Note Obligations) that that are secured by Liens ranking pari passu in priority with those securing the Note Obligations, including (i) Indebtedness and related Obligations under the EIB Facility, the Existing First-Priority Secured Notes, and the Existing Term Loan Facility, and (ii) other Indebtedness and related Obligations permitted under the Note Documents to be incurred and be secured by Liens ranking pari passu in priority with those securing the Note Obligations.

Other Pari Passu Obligations means Indebtedness of the Borrowers or the Borrower Subsidiary Guarantors that is equally and ratably secured with the other Pari Passu Obligations (subject to the Intercreditor Agreement) as permitted by the Pari Passu Documents and is designated by the Borrower as an "Other Pari Passu Obligation" pursuant to the Intercreditor Agreement; provided that the trustee, agent or representative of the holders or lenders of such Indebtedness shall have become a party to the Intercreditor Agreement (either directly or by joinder thereto) on behalf of such holders or lenders.

Other Pari Passu Obligations means Obligations with respect to the other Indebtedness of MPM and its Restricted Subsidiaries permitted to be incurred under this Indenture which is by its terms intended to be secured equally and ratably with the Notes and is designated by MPM as an Other Pari Passu Obligation.