Permitted Senior Indebtedness means the principal of (and premium, if any), interest on, and all fees and other amounts (including, without limitation, any reasonable out-of-pocket costs, enforcement expenses (including reasonable out-of-pocket legal fees and disbursements), collateral protection expenses and other reimbursement or indemnity obligations relating thereto) payable by Company and/or its Subsidiaries under or in connection with any credit facility to be entered into by the Company and/or its Subsidiaries with one or more financial institutions together with any amendments, restatements, renewals, refundings, refinancings or other extensions thereof); provided, however, that the aggregate outstanding amount of such Permitted Senior Indebtedness (taking into account the maximum amounts which may be advanced under the loan documents evidencing such Permitted Senior Indebtedness) does not as of the date on which any such Permitted Senior Indebtedness is incurred exceed $10,000,000, with respect to the unpaid principal balance of loans thereunder and, provided further that such Permitted Senior Indebtedness shall only be incurred to the extent that the Consolidated Total Indebtedness to Market Capitalization Ratio does not exceed .15 at the time of incurrence of such Permitted Senior Indebtedness.
Permitted Senior Indebtedness means (i) Indebtedness not to exceed $10,000,000 in the aggregate outstanding at any time pursuant to (A) the Amended and Restated Credit Agreement dated as of June 25, 2008 among Durant Biofuels, LLC, as Borrower, Earth Biofuels, Inc. as Loan Party, the Financial Institutions Party thereto, as Lenders, and Fourth Third LLC. and (B) the Amended and Restated Credit Agreement dated as of June 25, 2008 among EARTH LNG, INC., as Borrower, PNG Ventures, Inc., as Parent and a Loan Party and Applied LNG Technologies USA, L.L.C., Fleet Star, Inc., Apollo Leasing, Inc., Arizona LNG, L.L.C., as additional Loan Parties, the Financial Institutions Party thereto, as Lenders, and Fourth Third LLC, as Agent and Sole Lead Arranger and (ii) the Amended and Restated Primary Notes.
Permitted Senior Indebtedness means Indebtedness of any Loan Party which refinances all Indebtedness in respect of the Existing Senior Notes (or any permitted Refinancing Indebtedness in respect thereof), in any aggregate principal amount of not less than $250,000,000 and not greater than $350,000,000, all pursuant to an indenture and guaranty agreements, as applicable, and on terms and conditions acceptable to Agent and the Required Lenders, such terms and conditions to include, but not be limited to, the following:
Examples of Permitted Senior Indebtedness in a sentence
All payments due under this Note (i) shall rank pari passu with all Other Notes, (ii) junior to Permitted Senior Indebtedness and any Liens securing such Permitted Senior Indebtedness and (iii) shall be senior to all other Indebtedness of the Company and its Subsidiaries.
This Note and the Other Notes are secured to the extent and in the manner set forth in the Transaction Documents (including, without limitation, the Security Agreement, the other Security Documents and the Guaranties), but subject to any intercreditor or similar agreement that may be executed and delivered by the Holder or the Collateral Agent with respect to Permitted Senior Indebtedness from time to time.
More Definitions of Permitted Senior Indebtedness
Permitted Senior Indebtedness means Indebtedness issued pursuant to that certain Securities Purchase and Security Agreement, dated April 23, 2020, by and between the Company and the persons set forth therein and Indebtedness issued pursuant to that certain Securities Purchase Agreement, dated October 14, 2020, by and between the Company and the persons set forth therein.
Permitted Senior Indebtedness means the principal of (and premium, if any), interest on, and all fees and other amounts (including, without limitation, any reasonable out-of-pocket costs, enforcement expenses (including reasonable out-of-pocket legal fees and disbursements), collateral protection expenses and other reimbursement or indemnity obligations relating thereto) payable by Company and/or its Subsidiaries under or in connection with any inventory and receivables credit facility based on a customary borrowing base entered into by the Company and/or its Subsidiaries with one or more financial institutions (and on terms and conditions) to fund the working capital needs of the Company and its Subsidiaries, in form and substance satisfactory to the Required Holders; provided, however, that the Total Indebtedness to EBITDA Ratio is maintained.
Permitted Senior Indebtedness. Indebtedness (i) under the Loan Agreement issued in connection therewith and any refinancing thereof to the extent such refinancing does not shorten the Weighted Average Life to Maturity of such Indebtedness or (ii) incurred to purchase tangible personal property or Indebtedness incurred to lease tangible personal property pursuant to Capitalized Leases, provided that (x) such Indebtedness existing as of the Issue Date shall not exceed $50,000, (y) during any Yearly Period after the Issue Date the amount of such Indebtedness at any one time outstanding during such Yearly Period shall not exceed $100,000, and (z) no Event of Default exists at the time or will be caused as a result of the incurrence of any Indebtedness described in clause (y).
Permitted Senior Indebtedness means the principal of (and premium, if any), interest on, and all fees and other amounts (including, without limitation, any reasonable out-of-pocket costs, enforcement expenses (including reasonable out-of-pocket legal fees and disbursements), collateral protection expenses and other reimbursement or indemnity obligations relating thereto) payable by Company and/or its Subsidiaries under or in connection with any credit facility to be entered into by the Company and/or its Subsidiaries with one or more financial institutions (and on terms and conditions), in form and substance reasonably satisfactory to the Required Holders (subject, for the avoidance of doubt, to Section 25(b)); provided, however, that the aggregate outstanding principal amount of such Indebtedness does not at any time exceed $10,000,000.
Permitted Senior Indebtedness unsecured senior (or subordinated) Indebtedness of the Borrower (i) the terms of which do not provide for any scheduled repayment, mandatory redemption or sinking fund obligation prior to the date on which the final maturity of the Senior Notes issued on the Closing Date occurs (as in effect on the Closing Date) and (ii) the covenant, default and remedy provisions of which are not materially more restrictive, and the mandatory prepayment provisions and repurchase and redemption provisions of which are not materially more onerous or expansive in scope, taken as a whole, than those set forth in the Senior Note Indenture.
Permitted Senior Indebtedness means the Indebtedness described in clauses (ii) and (iv) of Permitted Indebtedness.
Permitted Senior Indebtedness means the Indebtedness described in, and permitted by, clause (ii) of Permitted Indebtedness.