Permitted Debt Refinancing definition

Permitted Debt Refinancing means Indebtedness incurred or issued to -------------------------- replace or refinance the Indebtedness under this Agreement or the Revolving Loans, as the case may be, which Indebtedness shall either be (i) unsecured or (ii) secured by Liens under the Security Documents (on an equal and ratable basis with the remaining Obligations as set forth therein) provided that (A) no maturities of such Indebtedness shall be prior to the Term Loan Maturity Date (as such term is defined in the Credit Agreement) and (B) the terms and conditions governing such Indebtedness shall be substantially similar to the terms and conditions governing the Loans under this Agreement or the Revolving Loans, as the case may be, as determined by the Credit Agreement Administrative Agent in its sole reasonable discretion.
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Permitted Debt Refinancing means the direct or indirect refund, refinancing or replacement of any Indebtedness and obligations with proceeds of Tranche 2 Term Loans to the extent that (a) such Indebtedness and obligations constitute Refinancing Eligible Debt; (b) contemporaneously with such application of Tranche 2 Term Loan proceeds, such Indebtedness and obligations shall have been Discharged; (c) the borrowing of such Tranche 2 Term Loans shall have occurred within the time frame identified for a “Refinancing” with respect to such Refinancing Eligible Debt on Schedule 1.1B to the Amended Term Loan Agreement; (d) each Person identified on Schedule 1.1B as an “Additional Borrower” with respect to such Refinancing Eligible Debt either (i) shall have duly executed and delivered a Borrower Counterpart Agreement and such Tranche 2 Term Loans shall have been made only to such Person or (ii) shall, to the extent such Tranche 2 Term Loans were made to the Funding Account Holder, have assumed such Loans from the Funding Account Holder pursuant to a duly executed and delivered Borrower Assumption Agreement;
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Permitted Debt Refinancing means the direct or indirect refund, refinancing or replacement of any Indebtedness and obligations with proceeds of Tranche 2 Term Loans to the extent that (a) such Indebtedness and obligations constitute Refinancing Eligible Debt; (b) contemporaneously with such application of Tranche 2 Term Loan proceeds, such Indebtedness and obligations shall have been Discharged; (c) the borrowing of such Tranche 2
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Examples of Permitted Debt Refinancing in a sentence

  • For the avoidance of doubt, the foregoing is not intended to, and shall not, modify the requirements with respect to a Permitted Debt Refinancing, including as regards the creation and perfection of a Lien on assets securing the Indebtedness and obligations subject to such refinancing.

  • If a Permitted Debt Refinancing occurs, the Borrowers shall promptly deliver to the Agent such lists and other information as the Agent may reasonably request describing in reasonable detail the related Refinanced Equipment Collateral, which Refinanced Equipment Collateral shall constitute Collateral and secure the Obligations.


More Definitions of Permitted Debt Refinancing

Permitted Debt Refinancing and "Permitted Secured Debt"; and (ix) inserting the following new definition in appropriate alphabetical order:
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Permitted Debt Refinancing to read "the indenture governing the Specified Additional Secured Debt", (iii) inserting a comma after the references in clause (d) thereof to "designation)" and "formation" and (iv) inserting an "or" immediately prior to the reference in clause (d) to "by-laws".
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Permitted Debt Refinancing in Section 1.1 of the Credit Agreement is hereby amended by adding the following phrase after the words “in the case of aircraft,” in the first proviso of clause (f) thereof: “rail cars and other rolling stock,”.
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Permitted Debt Refinancing has the meaning given to such term in Section 3.6(b) of this Agreement.
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Permitted Debt Refinancing means any refinancing by Holdings and/or any of its Subsidiaries of outstanding Indebtedness of Holdings or such Subsidiary with the proceeds of Holdings' incurrence of Permitted Refinancing Grantor Trust Subordinated Debt, which refinancing shall be effected within 180 days following the respective incurrence of Permitted Refinancing Grantor Trust Subordinated Debt and the related issuance of the Grantor Trust Interests by Grantor Trust III.
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Permitted Debt Refinancing means, with respect to any Debt, any modification, refinancing, refunding, renewal or extension of such Debt; provided that (a) the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of such Debt except by an amount equal to unpaid accrued interest and premium thereon plus other reasonable amounts paid, and fees and expenses reasonably incurred, in connection with such modification, refinancing, refunding, renewal or extension, (b) such modification, refinancing, refunding, renewal or extension has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of (i) the Debt being modified, refinanced, refunded, renewed or extended and (ii) the Revolving Loans, (c) such modification, refinancing, refunding, renewal or extension has a final maturity date equal to or later than (i) the final maturity date of the Debt being modified, refinanced, refunded, renewed or extended and (ii) the date one hundred eighty (180) days after the Commitment Expiry Date, and (d)(i) such modification, refinancing, refunding, renewal or extension is unsecured and subordinated in right of payment to the Obligations on terms at least as favorable to Lenders as those contained in the documentation governing the Debt being modified, refinanced, refunded, renewed or extended, (ii) the terms and conditions (excluding as to interest rate and redemption premium) of any such modified, refinanced, refunded, renewed or extended Indebtedness, taken as a whole, are not materially less favorable to Borrowers or Lenders than the terms and conditions of the Debt being modified, refinanced, refunded, renewed or extended; provided that a certificate of a Responsible Officer delivered to Agent at least ten (10) Business Days prior to the closing of such Permitted Debt Refinancing, together with a reasonably detailed description of the material terms and conditions of such Permitted Debt Refinancing or drafts of the documentation relating thereto, stating that Borrowers have determined in good faith that such terms and conditions satisfy the foregoing requirement shall be conclusive evidence that such terms and conditions satisfy the foregoing requirement unless Agent notifies Borrowers within such ten (10) Business Day period that it disagrees with such determination (including a reasonable description of the basis upon which it disagrees).
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Related to Permitted Debt Refinancing

  • Permitted Refinancing Indebtedness means any Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund other Indebtedness of the Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness); provided that:

  • Permitted Refinancing means, with respect to any Person, any modification, refinancing, refunding, renewal, replacement or extension of any Indebtedness of such Person; provided that (a) the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed, replaced or extended except by an amount equal to unpaid accrued interest and premium thereon plus other reasonable amounts paid, and fees and expenses reasonably incurred, in connection with such modification, refinancing, refunding, renewal, replacement or extension and by an amount equal to any existing commitments unutilized thereunder, (b) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to Section 7.03(e), such modification, refinancing, refunding, renewal, replacement or extension has a final maturity date equal to or later than the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended, (c) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to Section 7.03(e), at the time thereof, no Event of Default shall have occurred and be continuing and (d) if such Indebtedness being modified, refinanced, refunded, renewed, replaced or extended is Junior Financing, (i) to the extent such Indebtedness being modified, refinanced, refunded, renewed, replaced or extended is subordinated in right of payment to the Obligations, such modification, refinancing, refunding, renewal, replacement or extension is subordinated in right of payment to the Obligations on terms at least as favorable to the Lenders as those contained in the documentation governing the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended, (ii) such modification, refinancing, refunding, renewal, replacement or extension is incurred by the Person who is the obligor of the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended and (iii) if the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended was subject to an Intercreditor Agreement, the holders of such modified, refinanced, refunded, renewed, replaced or extended Indebtedness (if such Indebtedness is secured) or their representative on their behalf shall become party to such Intercreditor Agreement.

  • First Lien Indebtedness means the Indebtedness evidenced by the First Lien Loan Documents.

  • Permitted Acquisition Indebtedness means Indebtedness or Disqualified Stock of the Company or any of its Restricted Subsidiaries to the extent such Indebtedness or Disqualified Stock was Indebtedness or Disqualified Stock of any other Person existing at the time (a) such Person became a Restricted Subsidiary of the Company or (b) such Person was merged or consolidated with or into the Company or any of its Restricted Subsidiaries, provided that on the date such Person became a Restricted Subsidiary or the date such Person was merged or consolidated with or into the Company or any of its Restricted Subsidiaries, as applicable, either

  • Refinancing shall have correlative meanings.