Parent Indebtedness means Indebtedness incurred by Borrower from Guarantor, provided, that, such Indebtedness shall be (i) up to $2,000,000 outstanding in the aggregate at any time, (ii) on an unsecured basis, (iii) subordinated in remedies to all of the Obligations and to all of Lender’s rights in form and substance satisfactory to Lender and (iv) be subordinate in right of payment to the Obligations and shall only be repaid pursuant to a Permitted Distribution until the Obligations are Paid in Full; provided, that, at the request of Lender, the terms of the provisions of (iii) and (iv) shall be contained in a written subordination agreement between Lender and Parent acknowledged and agreed by Borrower, in form and substance satisfactory to Lender.
Parent Indebtedness means (a) indebtedness for borrowed money of Parent and its Subsidiaries, (b) obligations of Parent and its Subsidiaries evidenced by notes, bonds, debentures or other similar instruments or by letters of credit agreements, including purchase money obligations or other obligations relating to the deferred purchase price of property and (c) direct or indirect guarantees by Parent or any of its Subsidiaries of indebtedness for borrowed money of any Person.
Parent Indebtedness means (i) all indebtedness of Parent and its Subsidiaries for borrowed money, (ii) all obligations of Parent and its Subsidiaries for the deferred purchase price of property or assets, (iii) all obligations of Parent and its Subsidiaries evidenced by notes (including promissory notes issued in consideration for the purchase of stock or assets of any business), bonds, debentures, guarantees or other similar instruments and (iv) all capital leases, which, in the case of clauses (i) through (iv) above, shall include all accrued interest thereon and applicable prepayment premiums and any other fees, costs or expenses payable in connection therewith.
Examples of Parent Indebtedness in a sentence
Each Party shall bear its own attorneys’ fees and costs relating to the Parent Indebtedness settlement negotiations and the negotiation and execution of this Settlement Agreement.
Investments at the times and in the amounts necessary to enable any parent of the Borrower to (i) make regularly scheduled interest payments on the Existing Parent Indebtedness and (ii) repay the principal and premium, if any, of the Intelsat S.A. Notes; provided that the amount of Investments paid pursuant to this clause (y) to enable any such parent to make any such payments and redemptions shall not exceed the amount necessary to make such payments and redemptions at such time.
On the Effective Date, Debtors and Korea Retail do forever release, acquit and forever discharge each other and all of their officers, directors, employees, representatives, agents and professionals, and all of their respective successors and assigns, from any and all liability for the Parent Indebtedness.
Parent shall deliver, at least three (3) Business Days prior to the Closing Date, drafts of any documentation (including, without limitation, any guarantee terminations, collateral releases and UCC filings) required to effect or evidence the Parent Indebtedness Release.
Both Parties acknowledge this Settlement Agreement is intended to fully resolve the Korea Retail’s liability, if any, for the Parent Indebtedness made by the Debtors to Korea Retail.
More Definitions of Parent Indebtedness
Parent Indebtedness means (i) the senior secured revolving credit facility among Parent, the lenders party thereto from time to time and JPMorgan Chase Bank, N.A., as administrative agent, as amended to date; (ii) the $314.0 million principal amount of asset-backed notes issued through Parent’s wholly owned subsidiary, ARCC CLO 2006 LLC, (iii) the revolving facility among, inter alia, Ares Capital CP Funding, LLC, as the borrower, Parent, as the originator and the servicer, and Wachovia Capital Markets, LLC, as the administrative agent, as amended to date; and (iv) the revolving facility among, inter alia, Ares Capital CP Funding II, LLC, as the borrower, Parent, as the servicer and the transferor, and Wachovia Bank, National Association, as the Note Purchaser.
Parent Indebtedness. The definition of "Parent Indebtedness" in Article I of the Restated Agreement is hereby deleted and the following is hereby inserted in lieu thereof:
Parent Indebtedness means, as of the time of determination, the then outstanding aggregate Indebtedness of the Parent Group but excluding (a) any guarantee obligations of Parent Group in respect of primary obligations of the Company or any of its Subsidiaries or Investment Affiliates and (b) Indebtedness allocated to the members of the Consolidated Group and/or the Investment Affiliates pursuant to (i) any of the sharing agreements referred to on Schedule 3.aa to the Purchase Agreement and/or (ii) the letter agreement dated the date hereof, between the Company and the Operating Partnership, relating to the Term Loan Agreement."
Parent Indebtedness means, as of the time of determination, the then outstanding aggregate Indebtedness of the Parent Group but excluding Indebtedness allocated to the members of the Consolidated Group and/or the Investment Affiliates pursuant to (a) any of the sharing agreements referred to on Schedule 3.aa to the Purchase Agreement and/or (b) the letter agreement dated the date hereof, between the Company and the Operating Partnership, relating to the Term Loan Agreement.
Parent Indebtedness means all obligations of Par Petroleum and those certain subsidiaries of Par Petroleum party thereto arising under that certain Delayed Draw Term Loan and Bridge Loan Credit Agreement dated as of July 11, 2014, by and among Par Petroleum, the Subsidiaries of Par Petroleum party thereto, Jefferies Finance LLC, as administrative agent for the lenders, and the lenders named therein and from time to time party thereto, as amended by the First Amendment to Delayed Draw Term Loan and Bridge Loan Credit Agreement dated as of July 28, 2014, the Second Amendment to Delayed Draw Term Loan and Bridge Loan Credit Agreement dated as of September 10, 2014, the Third Amendment to Delayed Draw Term Loan and Bridge Loan Credit Agreement dated as of March 11, 2015, and as may be further amended, amended and restated, modified, supplemented, extended, increased, renewed, restated or replaced from time to time.
Parent Indebtedness means indebtedness obligations with respect to (x) that certain Third Amended and Restated Credit Agreement, dated as of March 22, 2016, by and among Griffon Corporation, the Lenders party thereto, Deutsche Bank Securities Inc. and Wells Fargo Bank, National Association, as Co-Syndication Agents, Bank of America, N.A., Capital One, National Association and Citizens Bank, National Association, as Co-Documentation Agents and JPMorgan Chase Bank, N.A., as Administrative Agent, (y) that certain Indenture with respect to 5.25% Senior Notes due 2022, dated as of February 27, 2014, by and among Griffon Corporation, the guarantors named on the signature pages thereto and Wells Fargo Bank, National Association, as trustee, and
Parent Indebtedness means the Indebtedness owing by Borrower to UT Holdings consisting, immediately prior to the making of the initial Revolving Credit Advance, of intercompany loans in an aggregate amount equal to $12,300,000.