Pari Passu Lien Indebtedness definition

Pari Passu Lien Indebtedness means any Indebtedness of any Credit Party that is secured by Liens on Collateral that rank pari passu in priority with the Liens on Collateral that secure the Obligations.

Pari Passu Lien Indebtedness shall have the meaning assigned to such term in the Senior Secured Notes Indenture.

Pari Passu Lien Indebtedness means (i) Indebtedness Incurred pursuant to clauses (1) or (15) of the definition of “Permitted Debt” and (ii) any other Indebtedness secured on a pari passu first lien basis with the Obligations under the Notes; provided that (i) the holders of such Indebtedness or their Designated Representative shall have entered into an Approved Intercreditor Agreement and (ii) such Indebtedness may be incurred in the form of a bridge or other interim credit facility intended to be refinanced with long-term indebtedness and in which case, on or prior to the first anniversary of the Incurrence of such “bridge” or other interim credit facility, nothing in this definition shall prohibit the inclusion of customary terms for “bridge” facilities, including customary mandatory prepayment, repurchase or redemption provisions.

Examples of Pari Passu Lien Indebtedness in a sentence

• In furtherance of the foregoing, in the event First Lien Obligations of any Class of Pari Passu Lien Indebtedness shall be subject to an Impairment in the form of an Intervening Lien of any Intervening Creditor, the value of any Shared Collateral or Proceeds that are allocated to such Intervening Creditor shall be deducted solely from the Shared Collateral or Proceeds to be distributed in respect of First Lien Obligations of such Class.

• In such event, the Collateral Documents may be amended or modified, without the consent of any Holder or holders of Pari Passu Lien Indebtedness, to the extent necessary to subject to the Liens under the Collateral Documents such additional Capital Stock and other securities.

• If the aggregate principal amount of Notes surrendered by Holders and Pari Passu Lien Indebtedness tendered into such Collateral Disposition Offer exceeds the amount of Excess Collateral Proceeds, the Notes and Pari Passu Lien Indebtedness to be purchased shall be selected on a pro rata basis.

• If the aggregate principal amount of Notes surrendered by Holders and Pari Passu Lien Indebtedness tendered pursuant to such Collateral Disposition Offer exceeds the amount of Excess Collateral Proceeds, the Notes and Pari Passu Lien Indebtedness to be purchased shall be selected on a pro rata basis.

• No later than five Business Days after the termination of the Offer Period (the “Purchase Date”), the Issuers will apply all Excess Proceeds (the “Offer Amount”), to the purchase of Notes and such Pari Passu Lien Indebtedness, if any (in each instance, 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 Offer to Repurchase.

More Definitions of Pari Passu Lien Indebtedness

Pari Passu Lien Indebtedness means Indebtedness that is secured only by Pari Passu Liens on the Collateral.

Pari Passu Lien Indebtedness means any Indebtedness that is incurred under clauses (i) or (j) or Section 9.1 and any refinancings, renewals, refundings or extensions thereof of such Indebtedness.

Pari Passu Lien Indebtedness means any Additional Notes and any other Indebtedness that has a stated maturity date that is equal to or longer than the Notes and has a pari passu Lien on the First Priority Collateral with the Notes.

Pari Passu Lien Indebtedness means the Term Loans and any other Indebtedness (other than Priority Payment Lien Obligations) that is secured by a Lien on the Xxx Collateral that has equal priority as the Liens securing the Obligations in respect of the Term Facility with respect to the Xxx Collateral and, if applicable, the Pulitzer Collateral and that is permitted by clause (1) or (36) (or, to the extent relating to Refinancings of Indebtedness secured by Liens permitted by either of such clauses or clause (19)) of the definition of “Permitted Liens”.

Pari Passu Lien Indebtedness means the 2022 Notes, the 2024 Notes, the Term Loan Credit Agreement, any Additional Notes and any additional Secured Indebtedness that is ranked pari passu with the Notes and is permitted to be incurred pursuant to the terms of this Indenture; provided that (i) the representative of such Pari Passu Lien Indebtedness executes a joinder agreement to the Intercreditor Agreement and, if applicable, to the other Collateral Documents, in each case in the form attached thereto, agreeing to be bound thereby and (ii) the Issuer has designated such Indebtedness as “Pari Passu Lien Indebtedness” thereunder.

Pari Passu Lien Indebtedness means, collectively, Indebtedness or other obligations in respect of (i) the Notes, this Indenture and the Subsidiary Guarantees and (ii) any Additional Notes and other Indebtedness or other obligations having Pari Passu Lien Priority relative to the Notes with respect to the Collateral; provided that the authorized representative in respect of such Indebtedness is a party (directly or through a joinder agreement) to the Intercreditor Agreement.

Pari Passu Lien Indebtedness means Indebtedness that is secured only by Pari Passu Liens on the Collateral; provided that if such Indebtedness is guaranteed by Notes PropCo or Extended Term Loan PropCo, such guarantees provided by Notes PropCo and Extended Term Loan PropCo shall be unsecured and rank pari passu in right of payment with the Notes PropCo Guarantee and the Extended Term Loan PropCo Guarantee, respectively.