Pari Passu Notes definition

Pari Passu Notes means Indebtedness of the Borrower or any Guarantor in the form of senior secured notes; provided that (i) immediately after giving pro forma effect thereto, the use of proceeds therefrom and the pledge of additional assets as Additional Collateral (if any) (A) no Default or Event of Default shall have occurred and be continuing or would result therefrom and (B) the Collateral Coverage Ratio shall be no less than 1.6 to 1.0 and the aggregate amount of Liquidity shall be no less than $2,000,000,000; (ii) such Indebtedness is secured only by the Collateral on a pari passu basis with the Term Loan Facility and Revolving Facility pursuant to the Collateral Documents; (iii) such Indebtedness shall benefit only from substantially the same guarantees as the guarantees of the Term Loan Facility and Revolving Facility provided hereunder; (iv) such Indebtedness matures no earlier than the Term Loan Maturity Date, (v) such Indebtedness shall have a Weighted Average Life to Maturity that is not shorter than the Weighted Average Life to Maturity of the Class B Term Loans and (vi) such Indebtedness constitutes “Priority Lien Debt” as defined under, and in accordance with the terms of, the Collateral Documents.

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Pari Passu Notes has the meaning provided in Section 4.16.

Pari Passu Notes means any notes issued by the Company which, by their terms and the terms of any indenture governing such notes, have an obligation to be repurchased by the Company upon the occurrence of an Asset Sale.

Examples of Pari Passu Notes in a sentence

• In addition, the Company will take any and all other actions required by the agreements governing the Pari Passu Notes.

• In addition, the Issuer will take any and all other actions required by the agreements governing the Pari Passu Notes.

• If the aggregate principal amount of Securities surrendered by Holders thereof and other Pari Passu Notes surrendered by holders or lenders, collectively, exceeds the amount of Excess Proceeds, the Trustee shall select the Securities and Pari Passu Notes to be purchased on a pro rata basis on the basis of the aggregate principal amount of tendered Securities and Pari Passu Notes.

• To the extent that the aggregate amount of Notes and Pari Passu Notes so validly tendered and not properly withdrawn pursuant to an Asset Disposition Offer is less than the Excess Proceeds, the Company may use any remaining Excess Proceeds for general corporate purposes, subject to other covenants contained in this Indenture.

• To the extent that the aggregate amount of Notes and Pari Passu Notes so validly tendered and not properly withdrawn pursuant to an Asset Disposition Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess Proceeds for general corporate purposes, subject to the other covenants contained in this Indenture.

More Definitions of Pari Passu Notes

Pari Passu Notes means the Senior Unsecured Notes due December 17, 2018 issued by the Parent Borrower in the aggregate principal amount of $250,000,000, as amended, restated, refinanced, replaced or otherwise modified from time to time (including any Permitted Refinancing Indebtedness specifically designated as such by the Parent Borrower in respect thereof).

Pari Passu Notes means any senior secured notes issued or to be issued by a member of the Group under a Pari Passu Notes Document.

Pari Passu Notes means (i) this Note and the Other Notes, (ii) the Amended and Restated Exchanged Notes and (iii) the New Notes.

Pari Passu Notes means all notes issued under the Base Indenture that constitute Second Lien Obligations.

Pari Passu Notes. (i) the senior secured notes due July, 2028 and (ii) the senior secured notes due July, 2030, in each case, issued on or prior to the Escrow Release Date under the Pari Passu Notes Indenture.

Pari Passu Notes means those certain notes issued by the Company to certain shareholders of the Company and described on Exhibit A attached hereto as such notes are in effect as of the date hereof.

Pari Passu Notes means the 10% Senior Secured Notes of Borrower due 2020 issued pursuant to the Pari Passu Indenture.