Permitted Subordinated Payments definition

Permitted Subordinated Payments means the Payments permitted by Clause 8.2 (Permitted Payments: Subordinated Liabilities).

Permitted Subordinated Payments means the Payments permitted by Clause 6.2 (Permitted Payments: Subordinated Liabilities).

Permitted Subordinated Payments means permitted scheduled interest payments on any Superior Loans as permitted by the Superior Subordination Agreement.

Examples of Permitted Subordinated Payments in a sentence

• Notwithstanding the immediately preceding sentence, but subject to Section 3.07, the Company may make, and the Second Lien Administrative Agent may retain, for itself or for the distribution to the Second Lien Secured Parties, the Permitted Subordinated Payments.

• The Loan Parties may resume Permitted Subordinated Payments in respect of the Subordinated Indebtedness upon the receipt by the Subordinated Creditor of written notice from each Senior Agent that all Senior Defaults have been waived in writing in accordance with the terms of the applicable Senior Lending Agreement and if so agreed in such waiver by each Senior Agent at its sole option, may make any Permitted Subordinated Payments missed due to the application of Section 2.2(a)).

• Borrower (a) will not prepay, and will not permit any Restricted Subsidiary to prepay, any Debt, except the Obligations, (b) will not make, and will not permit any Restricted Subsidiary to make, any payments on the Superior Loans other than Permitted Subordinated Payments, and (c) will not make, and will not permit any Restricted Subsidiary to make, any payments on the Debt evidenced by the EGS Seller Note, other than Permitted Subordinated Payments.

• No Loan Party shall make any Distribution on the Subordinated Indebtedness until the Discharge of Senior Indebtedness; provided, however, subject to the provisions of this Section 2.2 (including, without limitation, the immediately succeeding sentence of this Section 2.2(a)) and absent the commencement of an Insolvency Proceeding with respect to a Loan Party, Loan Parties may pay, and the Subordinated Creditor may receive, Permitted Subordinated Payments.

More Definitions of Permitted Subordinated Payments

Permitted Subordinated Payments shall have the meaning given to such term in the Subordination Agreement.

Permitted Subordinated Payments means:

Permitted Subordinated Payments. Permitted Subordinated Interest Payments, Permitted Subordinated Principal Payments, Permitted Subordinated Tax and Indemnity Payments, and Permitted Subordinated Default Rate Interest Payments.

Permitted Subordinated Payments means (a) permitted scheduled payments on any Superior Loans as permitted by the Superior Subordination Agreement, and (b) permitted scheduled payments on the EGS Seller Note as permitted by the EGS Subordination Agreement.

Permitted Subordinated Payments means payments by the Borrower of (i) interest on the Subordinated Obligations upon the terms set forth in the Subordinated Agreement; (ii) fees and expenses due to the Subordinated Lender on the date hereof; and (iii) the Second Earnout Amount (as defined in the Existing Subordinated Agreement as of the date hereof) for the Earnout Year (as defined in the Existing Subordinated Agreement as of the date hereof) ending June 30, 2012 in equal quarterly installments over the term of the Loan (as defined in the Existing Subordinated Agreement as of the date hereof).

Permitted Subordinated Payments means payments by the Borrowers of interest on the principal amount of the Subordinated Obligations not exceeding (a) in the case of the Tranche A Subordinated Obligations, 14% per annum in cash and (b) in the case of the Tr~tnche B Subordinated Obligations, non-cash capitalization of interest (colloquially known as "PIK interest") at a rate of not more than 18% per annum (with no cash interest).

Permitted Subordinated Payments means payments by the Borrower of (i) interest on the Subordinated Obligations upon the terms set forth in the Subordinated Agreement; and (ii) fees and expenses due at signing to the Subordinated Lender or any Subordinated Creditor.