Permitted Senior Securities definition

Permitted Senior Securities means "senior securities" within the meaning of the Investment Company Act which constitute Advances under this Agreement, Derivatives Transactions, repurchase transactions, reverse repurchase transactions, preferred shares or commitments of the Borrower to fund future advances or other extensions of credit under any Loan Document, to the extent the issuance of any such senior security by the Borrower is not in contravention of the Investment Company Act or the Investment Policies and Restrictions.

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Permitted Senior Securities means "senior securities" within the meaning of the Investment Company Act which constitute Advances under this Agreement, preferred shares, Derivatives Transactions, repurchase transactions, reverse repurchase transactions or commitments of the Borrower to fund future advances or other extensions of credit under any Loan Document, to the extent the issuance of any such senior security by the Borrower is not in contravention of the Investment Company Act or the Borrower's Investment Policies and Procedures in effect on the Closing Date.

Permitted Senior Securities means up to a maximum aggregate amount of Fifty Million Dollars ($50,000,000) at any time outstanding comprised of any of the following securities or indebtedness (i) any capital stock of the Corporation (or rights convertible into or exchangeable for capital stock) that is entitled to be paid, upon a liquidation, dissolution or winding up of the Corporation, including upon the occurrence of any event set forth in Section 3.3 hereof, from the Available Funds and Assets (as defined in Section 3 below), prior to and in preference to the Series A Preferred Stock, (ii) any debt securities of the Corporation or other indebtedness for borrowed money of the Corporation issued or incurred after the Original Issue Date, and (iii) any capital stock of The Kinetics Group, Inc., a Delaware corporation ("KGI"); provided in all cases that the holder of any debt or equity securities issued, or lender of any indebtedness, under this Section 1.9 shall be either (x) a Third Party, or (y) if not a Third Party, then (aa) any equity securities so held have been issued subject to the anti-dilution adjustment (to the extent an adjustment is due thereunder) provided for under Section 5.7 hereof, or (bb) any debt securities or indebtedness so held have a total contractual yield that is not in excess of 15% per annum; provided further in all cases that the issuance of debt or equity to a holder of 10% or more of the capital stock of the Corporation (or an affiliate of such holder) have not been issued (xx) in a transaction described in Section 5.7(F) or (H) or (yy) in a transaction described in Section 5.7(G) if such holder of 10% or more of the capital stock of the Corporation will own a larger percentage of the capital stock of the Corporation (together with its affiliates) after the consummation of such transaction.

Examples of Permitted Senior Securities in a sentence

Issue any "senior securities", as such term is defined and used in the Investment Company Act other than Permitted Senior Securities.
Issue any “senior securities”, as such term is defined and used in the Investment Company Act, other than (i) shares of preferred stock of the Borrower with respect to which the Agent has received prior written notice as to such issuance and (ii) Permitted Senior Securities.
Issue any “senior securities”, as such term is defined and used in the Investment Company Act other than (i) Permitted Senior Securities and (ii) preferred shares with respect to which the Administrative Agent shall have received prior written notice as to such issuance and such issuance is not in contravention of the Investment Company Act, the Prospectus or the Investment Policies and Restrictions.
Issue any “senior securities”, as such term is defined and used in the Investment Company Act other than Permitted Senior Securities.
Subject to the adjustments, rights and remedies set forth in Paragraph 4E of the Articles of Incorporation, upon delivery of the notice required by the initial sentence of Paragraph 4E of the Articles of Incorporation, all breaches of Paragraph 1G (other than Paragraph 1G(i)) described in such notice shall be deemed to be waived by the holders of Series A Preferred Stock and any Company Securities issued in a breach of Paragraph 1G(b) described in such notice will constitute Permitted Senior Securities.
Issue any "senior securities", as such term is defined and used in the Investment Company Act, other than Permitted Senior Securities.

More Definitions of Permitted Senior Securities

Permitted Senior Securities means (i) Debt secured only by the stock of Lumera Corporation held by the Company, provided such Debt is non-recourse to the Company, and (ii) a working capital credit facility provided by a bank or other financial institution that is secured only by the Company’s accounts receivable and/or inventory.

Permitted Senior Securities means "senior securities" within the meaning of the Investment Company Act which constitute Advances under this Agreement, notes or similar instruments issued as of the Closing Date in favor of the lenders under the Existing 1998 Credit Agreement, Derivatives Transactions, repurchase transactions, reverse repurchase transactions, preferred shares (to the extent the Borrower shall be in compliance with the terms of SECTION 5.01(e)(xii) in respect thereof) or commitments of the Borrower to fund future advances or other extensions of credit under any Loan Document, to the extent the issuance of any such senior security by the Borrower is not in contravention of the Investment Company Act or the Investment Policies and Restrictions.