Permitted Senior Secured Debt means any Indebtedness permitted under Section 6.01 that is secured by the Collateral on a pari passu basis with the First Priority Secured Obligations (which shall be deemed to include any ABL Facility secured on a Split Collateral Basis (including the ABL Facility as of the Closing Date) subject to an ABL Intercreditor Agreement), including, in each case, any refinancing of such Indebtedness permitted under Section 6.01.
Permitted Senior Secured Debt means any Debt arising under (a) the ----------------------------- Amended and Restated Term Loan Agreement dated as of May 12, 2000 among Parent, the Company, various financial institutions and BofA, as Agent which amends and restates the Term Loan Agreement dated as of July 15, 1999; and (b) any other term loan agreement (other than the Term Loan Agreement as defined herein) among Parent, the Company, various financial institutions and BofA, as agent; provided that (i) any such other term loan -------- agreement shall contain covenants and defaults which are no more restrictive for Parent and its Subsidiaries than the covenants and defaults contained in this Agreement, (ii) any such Debt shall be issued on or prior to December 31, 2000, shall mature no earlier than June 30, 2006 and shall have amortization of no more than 20% of the principal amount thereof prior to July 15, 2005, (iii) any such Debt shall constitute "Senior Indebtedness" as defined in each Subordinated Note Indenture and (iv) no Debt under any such other term loan agreement shall have interest rate spreads greater than the then-applicable interest rate spreads under the Term Loan Agreement referred to in clause (a) above." ----------
Permitted Senior Secured Debt means Debt (x) Incurred by Issuer and/or any Restricted Subsidiary (i) pursuant to one or more senior commercial term loan and/or revolving credit facilities (including any letter of credit subfacility) entered into principally with commercial banks and/or other financial institutions typically party to commercial loan agreements, (ii) in the form of, or represented by, bonds or other securities or (iii) with respect to any Restricted Subsidiary, consisting of a Guarantee of Debt of the Issuer which is Permitted Senior Secured Debt, and in each case any replacement, extension, renewal, amendment, restatement, refinancing or refunding thereof; provided that the aggregate principal amount of all Permitted Senior Secured Debt, at any one time outstanding, shall not exceed $20.0 million, less any amounts derived from Asset Sales and applied to the permanent reduction of Permitted Senior Secured Debt (and a permanent reduction of the related commitment to lend or amount to be reborrowed in the case of a revolving credit facility) under such credit facilities as contemplated by Section 1015 and (y) which may be secured by Liens having the same or senior priority to the Liens securing the Securities.
Examples of Permitted Senior Secured Debt in a sentence
An amendment under this Section may not make any change that adversely affects the rights under Articles Fourteen or Fifteen of any holder of Permitted Senior Secured Debt or Designated Senior Debt then outstanding unless the holders of such Permitted Senior Secured Debt or Designated Senior Debt (or their authorized representatives), as the case may be, consent to such change.
An amendment under this Section may not make any change that adversely affects the rights under Article Fifteen of any holder of Permitted Senior Secured Debt or Designated Senior Debt then outstanding unless the holders of such Permitted Senior Secured Debt or Designated Senior Debt (or their authorized representatives), as the case may be, consent to such change.
The sole account holder of each Deposit Account shall be a single Loan Party and the Loan Parties shall not allow any other Person (other than Agent and, subject to any Permitted Senior Secured Debt Intercreditor Agreement, the agent specified therein) to have control (as contemplated by the UCC and the PPSA) over a DACA Deposit Account or any Property deposited therein.
Made proper divert decision and correctly performed initial divert execution actions.
When issued by the Company, the Notes will be Permitted Senior Secured Debt, as such term is defined in the Indenture.
More Definitions of Permitted Senior Secured Debt
Permitted Senior Secured Debt means the aggregate outstanding Principal Exposure (as such term is defined in the Collateral Sharing Agreement) of all Creditors, together with accrued and unpaid interest thereon, as of the Fourth Amendment Effective Date.
Permitted Senior Secured Debt in Section 1.1 is amended in its entirety to read as follows:
Permitted Senior Secured Debt means and includes any Debt of the Company and its Subsidiaries under the Financing Documents and Credit Agreement Documents; provided, in the case of the Credit Agreement Documents, that the aggregate amount of such Debt does not at any time exceed $100,000,000, and provided further that the holders of all such Debt under the Credit Agreement Documents are a party to (and such Debt is subject to) the Collateral Sharing Agreement.
Permitted Senior Secured Debt one or more issues of secured Debt incurred by any Loan Party or any of its Subsidiaries pursuant to Section 10.2.1(l) and designated as Permitted Senior Secured Debt by written notice to Agent so long as (i) any such Debt of a U.S. Domiciled Loan Party and/or a Canadian Domiciled Loan Party does not have a maturity prior to May 1, 2018 and (ii) in case such debt is incurred by a U.S. Domiciled Loan Party and/or a Canadian Domiciled Loan Party, such Loan Party shall have delivered such collateral documents as Agent has reasonably requested in connection with the incurrence of such Debt in order to grant to Agent a perfected second priority security interest in the Collateral other than the ABL Priority Collateral of the U.S. Domiciled Loan Parties and/or Canadian Domiciled Loan Parties, as applicable, and such documents shall be in full force and effect and (iii) in case such debt is incurred by a U.S. Domiciled Loan Party and/or a Canadian Domiciled Loan Party, the Permitted Senior Secured Debt Intercreditor Agreement is entered into and in full force and effect and, to the extent the Permitted Senior Secured Debt Collateral Agent in respect of such Debt is not a party thereto (in its capacity as Permitted Senior Secured Debt Collateral Agent in respect of such Debt), such Permitted Senior Secured Debt Collateral Agent shall become a party to the Permitted Senior Secured Debt Intercreditor Agreement on or before entering into the Permitted Senior Secured Debt Documents in respect of such Debt by executing and delivering a joinder thereto, in the form specified therein.
Permitted Senior Secured Debt means any secured Indebtedness of the Company (and, to the extent permitted by clause (v) immediately below, Subsidiaries of the Company) in the form of one or more series of senior secured notes or loans; provided that (i) such Indebtedness is secured by the Collateral on a pari passu basis (but without regard to the control of remedies) with the Obligations and is not secured by any property or assets of the Company or any of its Subsidiaries other than the Collateral, (ii) the security documents relating to such Indebtedness are substantially the same as the Security Documents (with such differences as are reasonably satisfactory to the Required Holders), (iii) such Indebtedness will not mature prior to the date that is 180 days after the Maturity Date, (iv) the amortization of any such Indebtedness shall not exceed ten percent (10%) of the original principal balance of such Indebtedness (at the time of issuance) in any year, (v) such Indebtedness is not guaranteed by any Subsidiary of the Company that is not a party to the Guaranty Agreement, (vi) the covenants, defaults, remedies and other terms of such Indebtedness are customary for similar Indebtedness in light of then-prevailing market conditions and in any event, when taken as a whole, are not more restrictive to the Credit Parties than those set forth in this Agreement (in each case, as reasonably determined by the Required Holders), (vii) immediately prior to and after giving effect to the incurrence of such Indebtedness, no Default or Event of Default shall have occurred and be continuing, (viii) immediately after giving effect thereto and to the use of the proceeds thereof, the Secured Leverage Ratio on a Pro Forma Basis would not exceed 2.75 to 1.00 as of the most recently ended Fiscal Quarter for which financial statements have been delivered pursuant to paragraph 5A, and (ix) the holders of such Indebtedness (or their representative) become a party to the Intercreditor Agreement, on terms and conditions, and with such changes, as shall be satisfactory to the Required Holders, and all necessary consents from the parties to the Intercreditor Agreement shall have been obtained.
Permitted Senior Secured Debt means (a) any Senior Note, but only if the ----------------------------- holder thereof has executed and delivered both a Senior Note Purchase Agreement Amendment and the Intercreditor Agreement on or before the Effective Date; and (b) any other Debt of the Company which meets each of the following requirements: (i) it is issued prior to January 31, 1999, (ii) the documentation therefor contains covenants and defaults which are no more restrictive for Parent and its Subsidiaries than the covenants and defaults contained in the Term Loan Agreement, (iii) it matures no earlier than September 30, 2005 and has amortization of no more than 20% of the original principal amount thereof prior to July 15, 2005 and (iv) it constitutes "Senior Indebtedness" as defined in each Subordinated Note Indenture.
Permitted Senior Secured Debt means Debt (x) Incurred by Issuer and/or any Subsidiary (i) pursuant to the Exit Financing Facility, (ii) pursuant to one or more senior commercial term loan and/or revolving credit facilities (including any letter of credit subfacility) entered into principally with commercial banks and/or other financial institutions typically party to commercial loan agreements, (iii) in the form of, or represented by, bonds or other securities, or (iv) with respect to any Subsidiary, consisting of a Guarantee of Debt of the Issuer which is Permitted Senior Secured Debt, and in each case any replacement, extension, renewal, amendment, restatement, refinancing or refunding thereof; provided that the aggregate principal amount of all Permitted Senior Secured Debt, at any one time outstanding, shall not exceed $20.0 million, less any amounts derived from Asset Sales and applied to the permanent reduction of Permitted Senior Secured Debt (and a permanent reduction of the related commitment to lend or amount to be reborrowed in the case of a revolving credit facility) under such credit facilities as contemplated by Section 1015 and (y) which may be secured by Liens having the same or senior priority to the Liens securing the Secxxxxxes.