Other Secured Debt has the meaning specified in Section 4.1 hereof.
Other Secured Debt means debt that has been secured for at least 2 years prior to the date of application by the same Eligible Fixed Asset(s) securing the Qualified Debt and for which the Borrower has been current on all payments due for not less than one year preceding the date of application. “Current on all payments due” means that no payment was more than 30 days past due from either the original payment terms or modified payment terms (including deferments) if such modification was agreed to in writing by the Borrower and the lender of the existing debt not less than one year prior to the date of application; and
Other Secured Debt means Indebtedness arising under any Other Secured Debt Agreement; provided that (i) the final maturity and weighted average life to maturity of any such Other Secured Debt shall be after the Maturity Date, (ii) the covenants (including any financial covenants) and events of default applicable thereto shall be less restrictive to the Borrower and its Subsidiaries in all material respects as those contained herein; (iii) no such Indebtedness shall contain a cross default to other Indebtedness on terms less favorable to the Borrower and its Subsidiaries than under the Senior Secured Notes Indenture; and (iv) Liens incurred in connection with any Other Secured Debt shall be subject to an intercreditor agreement in form and substance satisfactory to the Administrative Agent and the Required Lenders; provided further that (x) the Initial Senior High Yield Debt shall be deemed to satisfy the conditions set forth in clauses (i) through (iv) of this paragraph and (y) the intercreditor agreement referred to in clause (a) of the definition of Intercreditor Agreement shall be the intercreditor agreement agreed to by the Administrative Agent and the Required Lenders in connection with the issuance of the Initial Senior High Yield Notes under the issuance of the Initial Senior High Yield Debt.
Examples of Other Secured Debt in a sentence
To the extent that the Company or any of its Subsidiaries incurs any additional Debt permitted under this Section 4.1 (other than Other Secured Debt) that is secured by a Lien (pari passu to the Lien securing the Notes) or junior Lien on any property or assets, such Liens shall be subject to the Collateral Trust Agreement.
To the extent that the Company or any of its Subsidiaries incurs any additional Debt permitted under this Section 4.1 (other than Other Secured Debt) that is secured by a Lien pari passu to the Lien securing the Notes or junior Lien on any property or assets, such Liens shall be subject to the Collateral Trust Agreement.
Although all Other Secured Debt Claims have been placed in one Class for purposes of nomenclature within the Plan, each Other Secured Claim, to the extent secured by a Lien on Collateral different from the Collateral securing a different Other Secured Claim, shall be treated as being in a separate sub-Class for the purposes of voting to accept or reject the Plan and receiving Plan Distributions.
Allowed Other Secured Debt Claims either will be reinstated or paid in full under the Plan, or will receive the Collateral securing such claims.
With respect to each applicable Debtor, this Class will be further divided into subclasses designated by letters of the alphabet (Class 2A, Class 2B and so on), so that each holder of any Allowed Other Secured Debt Claim against such Debtor is in a Class by itself, except to the extent that there are Other Secured Debt Claims that are substantially similar to each other and may be included within a single Class.
More Definitions of Other Secured Debt
Other Secured Debt has the meaning specified in Section 8.1 (Liens).
Other Secured Debt means any Secured Debt other than (a) the Secured Bank Debt and (b) any Additional Secured Debt which constitutes one or more commercial loans made pursuant to one or more credit facilities in which the lenders are primarily financial institutions engaged in the business of banking.
Other Secured Debt. Governmental Approvals: all authorizations, consents, approvals, licenses and exemptions of, registrations and filings with, and required reports to, all Governmental Authorities. Governmental Authority: any federal, state, provincial, municipal, foreign or other governmental department, agency, commission, board, bureau, court, tribunal, instrumentality, political subdivision, or other entity or officer exercising executive, legislative, judicial, regulatory or administrative functions for or pertaining to any government or court, in each case whether it is or is not associated with the United States, a state, district or territory thereof, Canada, a province or territory thereof or any other foreign entity or government. Guarantee: each guarantee agreement (including the U.S. Facility Guarantee and the Canadian Facility Guarantee, in each case, as may be amended, restated, supplemented or otherwise modified from time to time) executed by a Guarantor in favor of the Agent guaranteeing all or any portion of any Canadian Facility Obligation or U.S. Facility Obligation. Guarantors: the Canadian Facility Guarantors, the U.S. Facility Guarantors, and each other Person who guarantees payment or performance of any Obligations, provided that any Person which is a Guarantor shall cease to be a Guarantor if and when its Guarantee is released in accordance with Section 12.2.
Other Secured Debt as used in this Agreement shall have the meaning given to such term in paragraph 23(y) of this Agreement.
Other Secured Debt. Debt secured by a Lien arising under any Other Secured Debt Agreement; provided that (a) the final maturity and weighted average life to maturity of any such Other Secured Debt shall not be prior to the date that is six (6) months after the Facility Termination Date, (b) the amortization per annum of such Other Secured Debt does not exceed one percent (1%) of the aggregate principal amount of such Other Secured Debt outstanding as of the date of incurrence (provided that, with respect to the Debt under that certain Credit Agreement, dated as of June 30, 2017, by and among the U.S. Borrower, the other U.S. Domiciled Loan Parties party thereto, the lenders from time to time party thereto and Xxxxxxx Xxxxx Lending Partners LLC, as administrative agent and collateral agent (as amended by the First Amendment, dated as of April 17, 2018, as further amended by that certain Incremental Facility Amendment to Credit Agreement, dated as of July 19, 2018 and as further amended, supplemented or otherwise modified in accordance with the terms thereof and the applicable Intercreditor Agreement, the “Goldman Term Loan Agreement”), the amortization per annum of such Other Secured Debt does not exceed 1.0101011% of the aggregate principal amount of such Other Secured Debt outstanding as of July 19, 2018), and (c) Liens incurred in connection with any Other Secured Debt shall not attach to any Collateral unless permitted under Section 10.2.2(m).
Other Secured Debt means the outstanding debt obligations of the Company, if any, that were permitted, and were secured by properly perfected liens that were permitted, by the Credit Agreement, the Senior Notes Indenture and the Convertible Notes Indenture (e.g., certain obligations secured by liens for taxes being contested or not yet due and payable, certain statutory liens incurred in the ordinary course of business, workers’ compensation and similar liens incurred in the ordinary course of business, purported liens relating to equipment leases entered into in the ordinary course of business, liens securing customs duties, and liens securing limited classes of permitted indebtedness). “Other Secured Debt Claims” shall mean any and all Claims arising under or related to the Other Secured Debt.
Other Secured Debt. Debt arising under any Other Secured Debt Agreement; provided that (i) the terms of such Other Secured Debt do not provide for any scheduled repayment, mandatory redemption or sinking fund obligation prior to the date that is six (6) months after the Facility Termination Date, (ii) the final maturity and weighted average life to maturity of any such Other Secured Debt shall not be prior to the date that is six (6) months after the Facility Termination Date, (iii) the covenants (including any financial covenants) and events of default applicable thereto shall be not more restrictive to the U.S. Borrower and its Subsidiaries in all material respects than those contained herein; (iv) no such Debt shall contain a cross default to other Debt on terms less favorable to the U.S. Borrower and its Subsidiaries than under the Senior High Yield Indenture; and (v) Liens incurred in connection with any Other Secured Debt shall not attach to any Accounts Collateral and shall be subject to an intercreditor agreement in form and substance satisfactory to the Agent and the Required Lenders; provided further that (x) the Senior High Yield Debt shall be deemed to satisfy the conditions set forth in clauses (i) through (v) of this paragraph and (y) the intercreditor agreement referred to in clause (a) of the definition of Intercreditor Agreement shall be the intercreditor agreement agreed to by the Agent and the Required Lenders in connection with the issuance of the Senior High Yield Notes.