Permitted Affiliate Loans definition

Permitted Affiliate Loans means any loan from the Sponsor or any Affiliate of the Sponsor which (a) is unsecured, (b) does not require payments of principal or interest to be made thereunder or permit any exercise of lender remedies (including, without limitation, acceleration of the applicable indebtedness) until after all of the Obligations have been indefeasibly paid in full in cash, all Letters of Credit have been cancelled or have expired and all amounts thereunder have been indefeasibly reimbursed in full in cash and all Commitments have terminated, (c) is subordinated in all respects to the Obligations of the Borrower on, and payments in respect of principal thereof and interest thereon are made in accordance with, the terms set forth on Exhibit U hereto, and (d) is created and evidenced by documents and instruments that contain clear legends indicating such documents and instruments are subordinated to the Obligations pursuant to the terms of the agreement described in clause (c) preceding.
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Permitted Affiliate Loans loans made by any Borrower to Parent or any Subsidiary of Parent that is not a Loan Party so long as (i) Availability, both before and after giving effect to any such loan, is not less than $1,000,000.00, (ii) the maturity date of each such loan shall not exceed 14 days from the date of making such loan, (iii) such loans are paid in full on or prior to the applicable maturity date thereof, and (iv) at the time of making each such loan, no Event of Default shall be continuing.
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Permitted Affiliate Loans means loans or advances to Affiliates of the Company, Principals or Related Parties made with proceeds of the Term Loan, which have been approved by the Company’s Board of Directors, and are for purposes, are in an aggregate amount, and are on terms and conditions, which have been approved by the Required Lenders in writing.
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Examples of Permitted Affiliate Loans in a sentence

  • Except for Permitted Affiliate Loans and the termporary loans described in Section 7.4(g), no Covered Person will make any loans or extensions of credit to any of its Affiliates, shareholders, directors or officers, except for the existing loans described in Schedule 7.18 attached hereto.


More Definitions of Permitted Affiliate Loans

Permitted Affiliate Loans means loans made by Parent to the Borrower from time to time; provided that (i) prior to the termination of all Commitments and payments in full of all Obligations (other than contingent obligations with respect to which no claim has been made) the interest rate on any such loans shall not exceed the Floating Rate applicable to the Initial Loans, (ii) such loans shall be evidenced by an Intercompany Note and subordinated to the Obligations hereunder pursuant to the subordination provisions provided therein and (iii) no payments of principal, interest or otherwise shall be made with respect to such loans except to the extent not prohibited by this Agreement and the subordination provisions of such Intercompany Note.
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Related to Permitted Affiliate Loans

  • Permitted Affiliate means with respect to any Person (a) any Person that directly or indirectly controls such Person, and (b) any Person which is controlled by or is under common control with such controlling Person. As used in this definition, the term “control” of a Person means the possession, directly or indirectly, of the power to vote eighty percent (80%) or more of any class of voting securities of such Person or to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

  • Permitted Loans means:

  • Permitted Acquisition Indebtedness means Indebtedness (including Disqualified Stock) of the Company or any of the Restricted Subsidiaries to the extent such Indebtedness was Indebtedness:

  • Permitted Affiliate Transactions means the following:

  • Permitted Advance means an advance of funds by the Assuming Bank with respect to a Shared-Loss Loan, or the making of a legally binding commitment by the Assuming Bank to advance funds with respect to a Shared-Loss Loan, that (i) in the case of such an advance, is actually made, and, in the case of such a commitment, is made and all of the proceeds thereof actually advanced, within one (1) year after the Commencement Date, (ii) does not cause the sum of (A) the book value of such Shared-Loss Loan as reflected on the Accounting Records of the Assuming Bank after any such advance has been made by the Assuming Bank plus (B) the unfunded amount of any such commitment made by the Assuming Bank related thereto, to exceed 110% of the Book Value of such Shared-Loss Loan, (iii) is not made with respect to a Shared-Loss Loan with respect to which (A) there exists a related Shared-Loss Loan Commitment or (B) the Assuming Bank has taken a Charge-Off and (iv) is made in good faith, is supported at the time it is made by documentation in the Credit Files and conforms to and is in accordance with the applicable requirements set forth in Article III of this Commercial Shared- Loss Agreement and with the then effective written internal credit policy guidelines of the Assuming Bank; provided, that the limitations in subparagraphs (i), (ii) and (iii) of this definition shall not apply to any such action (other than to an advance or commitment related to the remediation, storage or final disposal of any hazardous or toxic substance, pollutant or contaminant) that is taken by Assuming Bank in its reasonable discretion to preserve or secure the value of the collateral for such Shared-Loss Loan.

  • Permitted Existing Investments means the Investments of the Company and its Subsidiaries identified as such on Schedule 1.1.2 to this Agreement.

  • Subsidiary Loan means any loan made pursuant to a Subsidiary Loan Agreement.

  • Permitted Loan shall have the meaning set forth in Section 4.02(a).

  • Permitted Subsidiary Indebtedness means any of the following:

  • Existing Loans has the meaning specified in Section 2.19(a).

  • Permitted Existing Indebtedness means the Indebtedness of the Company and its Subsidiaries identified as such on Schedule 1.1.1 to this Agreement.

  • Permitted Amount means, on any date, an amount equal to 3.5 times Adjusted EBITDA as of the most recent fiscal quarter for which financial statements of the Company are internally available immediately preceding such date.

  • Subsidiary Loan Party means each Subsidiary of the Borrower that is a party to the Guarantee Agreement.

  • Permitted Obligations mean (i) nonspeculative Hedging Obligations of any Person and its Subsidiaries arising in the ordinary course of business and in accordance with such Person’s established risk management policies that are designed to protect such Person against, among other things, fluctuations in interest rates or currency exchange rates and which in the case of agreements relating to interest rates shall have a notional amount no greater than the payments due with respect to the applicable obligations being hedged and (ii) Commodity Trading Obligations. For the avoidance of doubt, such transactions shall be considered nonspeculative if undertaken in conformance with FE’s Corporate Risk Management Policy then in effect, as approved by FE’s Audit Committee, together with the Approved Business Unit Risk Management Policies referenced thereunder.

  • Permitted Acquisition means any acquisition by Borrower or any of its wholly-owned Subsidiaries, whether by purchase, merger or otherwise, of all or substantially all of the assets of, all of the Equity Interests of, or a business line or unit or a division of, any Person; provided that:

  • Other Permitted Indebtedness means (a) accrued expenses and current trade accounts payable incurred in the ordinary course of the Borrower’s business which are not overdue for a period of more than 90 days or which are being contested in good faith by appropriate proceedings, (b) Indebtedness (other than Indebtedness for borrowed money) arising in connection with transactions in the ordinary course of the Borrower’s business in connection with its securities transactions, derivatives transactions, reverse repurchase agreements or dollar rolls to the extent such transactions are permitted under the Investment Company Act and the Borrower’s Investment Policies (after giving effect to any Permitted Policy Amendments), provided that such Indebtedness does not arise in connection with the purchase of Portfolio Investments other than Cash Equivalents and U.S. Government Securities and (c) Indebtedness in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal so long as such judgments or awards do not constitute an Event of Default under clause (l) of Article VII.

  • Permitted Asset Sale means any Asset Sale that is permitted under Section 6.8.

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • Domestic Loans means CD Loans or Base Rate Loans or both.

  • Restricted Lender means a Lender that fails to approve an amendment, waiver or consent requested by the Loan Parties pursuant to Section 10.01 that has received the written approval of not less than the Required Lenders but also requires the approval of such Lender.

  • Permitted Prepayment Date means the Business Day after the second (2nd) anniversary of the first Payment Date

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Refinancing Loans means any Refinancing Term Loans or Refinancing Revolving Loans.

  • Revolving Loans as defined in Section 2.4(a).

  • Permitted Asset Disposition means (i) any Asset Disposition permitted by Section 8.5 and (ii) any Excluded Asset Disposition.

  • Affiliated Lender Cap has the meaning set forth in Section 10.07(l)(iii).