Permitted Equipment Financing definition

Permitted Equipment Financing means equipment financing that is (i) entered into in the ordinary course of Borrower’s business, (ii) for equipment related to the ownership and operation of the Property whose removal would not materially damage or impair the value of the Property, and (iii) which is secured only by the financed equipment and proceeds thereof.

Permitted Equipment Financing means any credit facility or other financing arrangement (including in the form of Capitalized Lease Obligations and guarantees of Indebtedness of ISPs) entered into with any vendor or supplier (or any financial institution acting on behalf of or for the purpose of directly financing purchases from such vendor or supplier) to the extent the Indebtedness thereunder is incurred for the purpose of financing the cost (including the cost of design, development, site acquisition, construction, integration, manufacture or acquisition) of real or personal property (tangible or intangible) used, or to be used, in an Internet Service Business.

Permitted Equipment Financing means any financing transaction by the Borrower or any of its Material Subsidiaries secured by equipment, or a Sale/Leaseback Transaction in which the subject property consists of equipment, in each case owned or leased by such Person for more than 90 days prior to such financing transaction or Sale/Leaseback Transaction, so long as such financing transaction or Sale/Leaseback Transaction (a) (x) in the case of any such transaction entered into by the Borrower or any of its Material Subsidiaries on or prior to the second anniversary of the Closing Date, does not have a final maturity or final payment date in respect thereof on or prior to the seventh anniversary of the date of such transaction and (y) in the case of any such transaction entered into by the Borrower or any of its Material Subsidiaries after the second anniversary of the Closing Date, does not have a final maturity or final payment date in respect thereof on or prior to the Tranche B Maturity Date or a weighted average life to stated maturity shorter than the then-outstanding Term Loans, (b) results in net cash proceeds to the Borrower or one of its Material Subsidiaries in excess of 60% of the fair market value (determined, on the basis of an assumed arms-length sale of such property, by a nationally recognized appraisal or valuation firm experienced in valuing equipment) at the date of such financing transaction or sale/leaseback of the equipment that is the subject property of such financing transaction or Sale/Leaseback Transaction, and (c) contains covenants no more restrictive than those contained in this Agreement (except that covenants that relate solely to the subject property may be more restrictive).

Examples of Permitted Equipment Financing in a sentence

• As used herein, "Permitted Equipment Financing" means equipment financing that is (i) entered into in the ordinary course of Borrower's business, (ii) for equipment related to the ownership and operation of the Property whose removal would not materially damage or impair the value of the Property, and (iii) which is secured only by the financed equipment and proceeds thereof.

• Notwithstanding the foregoing, the Noteholders consent to the Trustee executing any waiver, estoppel letter or subordination agreement as advised by Counsel is required to be executed in connection with the Permitted Equipment Financing, without the further notice or consent of any Noteholder.

• Tenant shall not, directly or indirectly, create or cause to be imposed, claimed or filed upon the Leased Property, or Tenant's assets, properties or income or any portion thereof, or upon the interest of Landlord therein, any Lien of any nature whatsoever (except that any property acquired by Tenant with proceeds of the Permitted Equipment Financing may be pledged to secure such Permitted Equipment Financing).

• The Borrower shall not incorporate in the Improvements any property acquired under a conditional sales contract, or lease, or as to which the vendor retains title or a security interest with the exception of Permitted Equipment Financing, without the prior written consent of the Agent.

• Company and Guarantors have agreed to guarantee the obligations of Borrower hereunder and to secure all of their respective obligations hereunder by granting to Administrative Agent, on behalf of Lenders, a First Priority Lien on substantially all of their respective real, personal and mixed property, including a pledge of all of the equity Securities of each of their respective Subsidiaries (including Borrower), but excluding assets secured under any Permitted Equipment Financing.

More Definitions of Permitted Equipment Financing

Permitted Equipment Financing shall have the meaning set forth in Section 5.2.10(h) hereof.

Permitted Equipment Financing has the meaning set forth in the definition of “Permitted Encumbrances”.

Permitted Equipment Financing means the approximately $65,000,000 in term loan facilities provided by Term Lender and assigns, pursuant to the Financed Aircraft Loan Documents and subject to the Aircraft Intercreditor Agreement and the Revolving Lender/Term Lender Intercreditor Agreement.

Permitted Equipment Financing means one or more purchase money, vendor or similar equipment financing facilities (i) in an aggregate principal amount not in excess of $50,000,000 outstanding at any time, (ii) pursuant to which Company or any of its Subsidiaries may be advanced funds principally to purchase or lease network equipment or services from the provider of such financing or its affiliates, (iii) which may be secured only by the assets being financed thereby and (iv) the form and substance of which are reasonably satisfactory to the Co-Lead Arrangers and Requisite Lenders.

Permitted Equipment Financing means (A) the secured equipment financing facilities listed, and designated as such, on Schedule 6.1 and (B) one or more purchase money, vendor or other equipment financing facilities or leases

Permitted Equipment Financing means one or more purchase money, vendor or similar equipment financing facilities entered into by Company (i) pursuant to which Company may be advanced funds principally to purchase or lease equipment or services from the provider of such financing or its affiliates, (ii) which may be secured only by the assets being financed thereby and (iii) the form and substance of which are reasonably satisfactory to the Administrative Agent, provided that any Subsidiary of Company that receives the assets acquired in any such equipment financing may grant liens on such assets in favor of the financial institutions providing such financing to secure the Indebtedness incurred by Company in connection therewith.

Permitted Equipment Financing shall have the meaning set forth in the Mortgage Loan Agreement.