Permitted Junior Debt definition

Permitted Junior Debt means and include (i) any Permitted Junior Notes and (ii) any Permitted Junior Loans.

Permitted Junior Debt means (a) unsecured subordinated Indebtedness issued or incurred by one or both of the Borrower and Finance Co and (b) unsecured senior Indebtedness issued by one or both of the Borrower and Finance Co, (i) the terms of which, in the case of each of clauses (a) and (b), (1) do not provide for any scheduled repayment, mandatory redemption or sinking fund obligation prior to the date that is 91 days after the latest of (x) the Revolving Facility Maturity Date and (y) any Incremental Facility Maturity Date, (2) do not contain covenants that, taken as a whole, are more restrictive than those set forth in this Agreement and the other Loan Documents, (3) provide for covenants and events of default customary for Indebtedness of a similar nature as such Permitted Junior Debt and (4) in the case of unsecured subordinated Indebtedness, provide for subordination of payments in respect of such Indebtedness to the Obligations and guarantees thereof under the Loan Documents customary for high yield securities and (ii) in the case of each of clauses (a) and (b), in respect of which no Subsidiary of a Borrower that is not an obligor under the Loan Documents is an obligor; provided that immediately prior to and after giving effect on a Pro Forma Basis to any incurrence of Permitted Junior Debt, no Default or Event of Default shall have occurred and be continuing or would result therefrom and the Borrower would be in compliance on a Pro Forma Basis with the Financial Performance Covenants as of the most recently completed fiscal quarter for which financial statements are available.

Permitted Junior Debt shall have the meaning assigned to it in Section 6.02(m).

Examples of Permitted Junior Debt in a sentence

• The Obligations are “Designated Senior Debt” (if applicable), “Senior Debt,” “Senior Indebtedness,” “Guarantor Senior Debt,” “First Priority Obligations” or “Senior Secured Financing” (or any comparable term) under, and as defined in, any indenture or document governing any Permitted Junior Debt.

• Contemporaneously with the sending or filing thereof, the Lead Borrower will provide to the Administrative Agent for distribution to each of the Lenders, any notices provided to, or received from, holders of (I) Senior Notes, or any refinancing thereof or (II) Permitted Junior Debt or other Indebtedness, in each case of this clause (II), with a principal amount in excess of the Threshold Amount.

• The Borrower will not, and will not permit any Subsidiary to, directly or indirectly voluntarily prepay, defease or in substance defease, purchase, redeem, retire or otherwise acquire, any Permitted Junior Debt or any Debt from time to time outstanding under the Permitted Junior Debt Documents.

• Contemporaneously with the sending or filing thereof, Holdings will provide to the Administrative Agent for distribution to each of the Lenders, any notices provided to, or received from, holders of Senior Notes, Refinancing Notes and Permitted Junior Debt.

• The Borrower shall not designate, or permit the designation of, any Indebtedness (other than under this Agreement or the other Loan Documents) as "Designated Senior Indebtedness" or any other similar term for the purpose of the definition of the same or the subordination provisions contained in any documentation governing Permitted Junior Debt or other Indebtedness that is subordinated or senior subordinated Indebtedness or any Permitted Refinancing Indebtedness thereof.

More Definitions of Permitted Junior Debt

Permitted Junior Debt means subordinated Indebtedness of Company that:

Permitted Junior Debt means any secured Indebtedness, which is either subordinated in right of payment to the Notes or is secured by Liens with a lower priority than the Liens securing the Notes, with respect to which the agent, trustee or other representatives of the lenders or the holders of such Indebtedness shall have become a party to the Intercreditor Agreement and which shall be subject to restrictions and the terms applicable to the holders of “junior debt” (as such term is defined in the Intercreditor Agreement).

Permitted Junior Debt means all Debt created, incurred or issued by the Borrower and which is owing to the Junior Debt Creditors pursuant to the terms of a Junior Debt Financing Agreement, which Debt complies with all of the following criteria:

Permitted Junior Debt means (a) subordinated Indebtedness issued or incurred by the Borrower or a Restricted Subsidiary and (b) senior unsecured Indebtedness issued or incurred by the Borrower or a Restricted Subsidiary, the terms of which, in the case of each of clauses (a) and (b), (i) do not provide for a final maturity date, scheduled amortization or any other scheduled repayment, scheduled mandatory redemption or scheduled sinking fund obligation prior to the date that is 91 days after the Maturity Date (provided that the terms of such Permitted Junior Debt may require the payment of interest from time to time), (ii) do not contain covenants and events of default that, taken as a whole, are more restrictive than the covenants and Events of Default set forth in this Agreement and the other Loan Documents, as reasonably determined in good faith by the Borrower, and (iii) provide for covenants and events of default customary for Indebtedness of a similar nature as such Permitted Junior Debt, as reasonably determined in good faith by the Borrower.

Permitted Junior Debt in its entirety as follows:

Permitted Junior Debt means Indebtedness that is either (a) secured by Liens on Collateral that rank junior to Liens on Collateral securing the Term B Loans or (b) unsecured that, in each case, is incurred to Refinance the 2020 Senior Unsecured Notes and satisfies the Permitted Junior Debt Requirements.

Permitted Junior Debt means (a) unsecured subordinated Indebtedness issued or incurred by the Borrower and (b) unsecured senior Indebtedness issued or incurred by the Borrower,