Permitted Senior Secured Notes definition
Permitted Senior Secured Notes has the meaning specified in Section 7.03(g).
Permitted Senior Secured Notes means any Indebtedness of the Lead Borrower or any Restricted Subsidiary in the form of notes and incurred pursuant to one or more issuances of such notes; provided that, (i) no such Indebtedness shall be guaranteed by any Person other than Holdings, the Lead Borrower, the Subsidiary Borrowers or any Subsidiary Guarantor, (ii) no such Indebtedness shall be subject to scheduled amortization or have a final maturity, in either case prior to the Latest Maturity Date (as defined in the First Lien Credit Agreement) as of the date such Indebtedness was incurred, (iii) the indenture governing such Indebtedness shall not include any financial maintenance covenants, (iv) the “default to other indebtedness” event of default contained in the indenture governing such Indebtedness shall provide for a “cross-acceleration” or a “cross-acceleration” and “cross-payment default” rather than a “cross-default,” (v)(a) such Indebtedness is secured only by assets comprising Collateral, and not secured by any property or assets of the Lead Borrower or any of its Subsidiaries other than the Collateral, (b) the security agreements relating to such Indebtedness are substantially the same as the Security Documents (with such differences as are reasonably satisfactory to the Administrative Agent) and (c) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to the ABL Intercreditor Agreement and the First Lien/Second Lien Intercreditor Agreement, and (vi) the negative covenants and events of defaults, taken as a whole, contained in the indenture governing such Indebtedness shall not be more onerous in any material respect than those contained in the corresponding provisions in this First Lien Agreement (as in effect on the date hereof); provided that any such terms may be more onerous to the extent they take effect after the Latest Maturity Date as of the date such Indebtedness was incurred (provided that a certificate of a Responsible Officer of the Lead Borrower delivered to the Administrative Agent at least five Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the Lead Borrower has determined in good faith that such terms and conditions satisfy the requirement set out in the foregoing clause (vi), shall be conclusive evidence that such terms and conditions sa...
Permitted Senior Secured Notes shall have the meaning assigned to such term in clause (n) of Section 6.01.”
More Definitions of Permitted Senior Secured Notes
Permitted Senior Secured Notes means debt securities issued by the Borrower in a capital markets transaction or institutional private placement; provided that: