Permitted Senior Unsecured Debt means unsecured senior Indebtedness issued by the Borrower and/or a finance company that is an Affiliate of the Borrower (i) the terms of which (1) do not provide for any scheduled repayment, mandatory redemption or sinking fund obligation prior to the date that is 91 days after the Revolving 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 Senior Unsecured Debt and (ii) in respect of which no Subsidiary of the Borrower that is not a guarantor under the Loan Documents is a guarantor; provided that immediately prior to and after giving effect on a Pro Forma Basis to any incurrence of Permitted Senior Unsecured 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 Senior Unsecured Debt means Permitted Additional Debt that is not Permitted Additional Subordinated Debt.
Permitted Senior Unsecured Debt senior unsecured Indebtedness of a Loan Party that (a) requires no scheduled cash payments of principal and no mandatory repurchase or redemption obligations prior to the date that is 91 days after the later of the Revolving Termination Date or Term Loan Maturity Date, other than in connection with a change of control of Borrower or similar event, an asset disposition or, if the Indebtedness is incurred to finance a Permitted Acquisition (or refinance, replace, modify, repay, redeem, refund, renew or extend Indebtedness in connection therewith) and related costs, fees, expenses, premiums and accrued but unpaid interest (including any refinancing, replacement, modification, repayment, redemption, refunding, renewal or extension thereof), subject to conditions relating to the non-occurrence of such Permitted Acquisition, and (b) does not impose financial “maintenance” (as distinct from “incurrence”) covenants on the Borrower or any of the Subsidiaries that are more restrictive than the maintenance covenants herein. “Permitted Senior Unsecured Notes”: one or more series of senior unsecured notes constituting Permitted Senior Unsecured Debt that may be issued by following the Closing Date in an aggregate principal amount not exceeding $500,000,000 (including any refinancing, replacement, modification, repayment, redemption, refunding, renewal or extension thereof). “Permitted Subordinated Debt”: unsecured Indebtedness subordinated to the Obligations that (a) requires no scheduled cash payments of principal and no mandatory repurchase or redemption obligations prior to the date that is 91 days after the later of the Revolving Termination Date or Term Loan Maturity Date, other than in connection with a change of control of Borrower or similar event, an asset disposition or, if the Indebtedness is incurred to finance a Permitted Acquisition (or refinance, replace, modify, repay, redeem, refund, renew or extend Indebtedness in connection therewith) and related costs, fees, expenses, premiums and accrued but unpaid interest (including any refinancing, replacement, modification, repayment, redemption, refunding, renewal or extension thereof), subject to conditions relating to the non-occurrence of such Permitted Acquisition, (b) does not impose financial “maintenance” (as distinct from “incurrence”) covenants on the Borrower or any of the Subsidiaries that are more restrictive than the maintenance covenants herein, and (c) contains customary subordination terms that...
Examples of Permitted Senior Unsecured Debt in a sentence
The Borrower shall be obligated to make such prepayment and/or deposit of cash collateral within one (1) Business Day following the receipt by any Credit Party of Net Proceeds in respect of such Permitted Senior Unsecured Debt or such Triggering Disposition, as applicable; provided that all payments required to be made pursuant to this Section 3.04(c)(iii) must be made on or prior to the Termination Date.
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Without limiting the foregoing, no Credit Party is a party to or bound by any agreement (other than the Loan Papers and other than pursuant to the Permitted Senior Unsecured Debt Documents) or subject to any order of any Governmental Authority which prohibits or restricts in any way the right of such Credit Party or any Restricted Subsidiary to make Distributions.
Without limiting the foregoing, no Credit Party is a party to or bound by any agreement (other than the Loan Papers and other than pursuant to the Permitted Senior Unsecured Debt Documents and/or the Permitted Senior Convertible Debt Documents) or subject to any order of any Governmental Authority which prohibits or restricts in any way the right of such Credit Party or any Restricted Subsidiary to make Distributions.
In the event the Borrower intends to incur any Permitted Senior Unsecured Debt, prior written notice of the intended incurrence of such Permitted Senior Unsecured Debt, the anticipated amount thereof, and the anticipated date of closing and promptly when available will furnish a copy of the preliminary offering memorandum (if any) and the final offering memorandum (if any).
More Definitions of Permitted Senior Unsecured Debt
Permitted Senior Unsecured Debt the collective reference to the Senior Notes and any Indebtedness incurred in reliance upon Section 7.2(ii) or (jj) that is not secured.
Permitted Senior Unsecured Debt senior unsecured Indebtedness of the Borrower that (a) requires no scheduled cash payments of principal and no mandatory repurchase or redemption obligations prior to the date that is six months after the Revolving Termination Date, other than in connection with a change of control of Borrower or similar event or an asset disposition and (b) does not impose financial “maintenance” (as distinct from “incurrence”) covenants on the Borrower or any of the Subsidiaries that are more restrictive than the maintenance covenants herein.
Permitted Senior Unsecured Debt means senior unsecured Debt of Borrower resulting from the issuance by Borrower of its 7% Senior Notes due 2015 in an original aggregate principal amount of $150,000,000 under that certain Indenture dated as of March 15, 2005 among Borrower, the Subsidiary guarantors party thereto and U.S. Bank National Association, as Trustee.
Permitted Senior Unsecured Debt senior unsecured Indebtedness of the Borrower that (a) requires no scheduled cash payments of principal and no mandatory repurchase or redemption obligations prior to the date that is 91 days after the later of the Revolving Termination Date or Term Loan Maturity Date, other than in connection with a change of control of Borrower or similar event, an asset disposition or, if the Indebtedness is incurred to finance a Permitted Acquisition and related costs and expenses (including refinancings), subject to conditions relating to the non-occurrence of such Permitted Acquisition, and (b) does not impose financial “maintenance” (as distinct from “incurrence”) covenants on the Borrower or any of the Subsidiaries that are more restrictive than the maintenance covenants herein.
Permitted Senior Unsecured Debt means unsecured Debt of the Account Party that (i) is not guaranteed by any Subsidiary or Affiliate of the Account Party and (ii) that is in an aggregate principal amount not exceeding the lesser of (x) $300,000,000 and (y) $600,000,000 less the aggregate amount of the Commitments (as defined in the Existing Credit Facility).
Permitted Senior Unsecured Debt means unsecured Debt of AES that (i) is not guaranteed by any Subsidiary or Affiliate of AES, (ii) that does not limit (A) the ability of Subsidiaries and Affiliates of AES to guarantee other senior Debt of AES, (B) the ability of AES to grant Liens on stock of Subsidiaries or intercompany advances to secure other senior Debt of AES or (C) the ability of Subsidiaries or Affiliates of AES to grant Liens on their assets (including stock of Subsidiaries and intercompany advances) to secure guarantees of other senior Debt (provided that (x) a Permitted Negative Pledge shall not cause any Debt of AES to fail to be Permitted Senior Unsecured Debt under this clause (ii) and (y) this clause (ii) shall not apply if AES shall have received at least $300,000,000 of gross cash proceeds from the issuance of its common stock after March 1, 1999 and on or prior to June 30, 1999) and (iii) that is in an aggregate principal amount not exceeding the lesser of (x) $300,000,000 and (y) $600,000,000 less the aggregate amount of the Commitments.
Permitted Senior Unsecured Debt means senior unsecured Debt of Borrower resulting from the issuance by Borrower of its senior unsecured notes in an aggregate outstanding principal balance at any time of not greater than $225,000,000, and which (a) has a coupon rate of not greater than nine percent (9%), (b) has a due date not earlier than January 31, 2012, (c) is not subject to negative covenants or events of default (or other provisions which have the same effect as negative covenants or events of default) which have not been approved by Administrative Agent and Banks, and (d) except in connection with a "change of control" put option as provided in the Permitted Senior Unsecured Debt Documents, does not provide for or otherwise require any mandatory redemption, repayment, defeasance, repurchase or other amortization prior to scheduled maturity.