Permitted Equity definition

Permitted Equity has the meaning specified in the definition of the “Transactions.”

Permitted Equity means (a) common equity, (b) Qualified Capital Stock or (c) other preferred equity or other instruments having terms reasonably acceptable to the Administrative Agent.

Permitted Equity has the meaning assigned to such term in the Recitals to this Agreement.

Examples of Permitted Equity in a sentence

• The definitive documentation for any Permitted Equity Offering or any Rights Offering shall be consistent with the Plan.

• The Borrower has good title to all of its properties and assets necessary in the ordinary conduct of its business, free and clear of Liens other than Permitted Liens and Permitted Equity Liens.

• The Borrower will not, nor will it permit any of its Subsidiaries to, create, incur, assume or permit to exist any Indebtedness that is convertible into Equity Interests other than Permitted Equity Interests.

• The Company shall not, nor shall it permit any Subsidiary to, directly or indirectly, create, incur, assume or suffer to exist any Lien on (i) any Unencumbered Eligible Property other than Permitted Property Encumbrances, (ii) any Equity Interest of any Unencumbered Property Subsidiary other than Permitted Equity Encumbrances or (iii) any income from or proceeds of any of the foregoing.

• None of the Qualified Assets or the Equity Interests of any Qualified Asset Owner is subject to any Lien except Permitted Encumbrances and Permitted Equity Encumbrances.

More Definitions of Permitted Equity

Permitted Equity means any Equity Interests of the Borrower (or any parent thereof) that in the case of the Borrower, are not Disqualified Equity Interests.

Permitted Equity shall have the meaning assigned to such term in the definition of “Sponsor Contribution”.

Permitted Equity means common equity, Qualified Stock or any other instrument with terms reasonably acceptable to the Joint Lead Arrangers.

Permitted Equity means Equity Interests of Intermediate Holdings issued in exchange for cash that by its terms (or by the terms of any Equity Interest into which it is convertible or for which it is exchangeable) or upon the happening of any event or otherwise, (a) does not mature and is not mandatorily redeemable, in whole or in part, or required (including at the option of the holder thereof) to be repurchased or redeemed, in whole or in part, by Intermediate Holdings, and which does not require the payment of cash dividends or distributions (other than Permitted Tax Payments), in each case, prior to the date that is at least one hundred eighty-one (181) days after the Maturity Date, (b) is not secured by the assets of any Loan Party, (c) is not convertible or exchangeable into Indebtedness of any Loan Party, (d) does not constitute Indebtedness of Intermediate Holdings or any Restricted Subsidiary, (e) does not result in a Change of Control and (f) is issued at a time and in a manner when no Event of Default then exists or would be caused thereby.

Permitted Equity means Capital Stock (in the case of other equity that is not Capital Stock, on terms reasonably satisfactory to the Required Lenders).

Permitted Equity means Equity Interests issued by a Borrower after the Closing Date that are (i) approved by the Required Lenders, or (ii) are not approved by the Required Lenders, but which (A) do not impose upon a Borrower any obligation of redemption, payment of dividends, or like obligation, unless expressly subordinate to the full payment of the Obligations, and (B) to the extent required to be pledged pursuant to Section 6.4(c) hereof, are when issued made subject to a first priority perfected security interest in favor of Collateral Agent pursuant to documents approved by Collateral Agent in the instance.

Permitted Equity means Equity Interests issued by a Borroweri3 Verticals or HoldCo after the Closing Date that are (i) approved by the Required Lenders, or (ii) are not approved by the Required Lenders, but which (A) do not impose upon a Borrower or HoldCo any obligation of redemption, payment of dividends, or like obligation, unless expressly subordinate to the full payment of the Obligations, and (B) to the extent required to be pledged pursuant to Section 6.4(c) hereof, are when issued made subject to a first priority perfected security interest in favor of Collateral Agent pursuant to documents approved by Collateral Agent in the instance.