Qualified Senior Notes definition

Qualified Senior Notes means Holdings’ 9.5% Senior Notes due 2010 issued pursuant to the Qualified Senior Note Documents and any registered notes issued by Holdings in exchange for, and as contemplated by the Qualified Senior Notes, with substantially identical terms as the Qualified Senior Notes.

Qualified Senior Notes has the meaning set forth in Section 6.02(o).

Qualified Senior Notes means unsecured Indebtedness for borrowed money of, or in respect of, a private placement or public sale of notes by theany Borrower or any Credit Party, and any unsecured guarantees thereof by any Credit Party; provided, however, that (i) such Indebtedness shall not have the benefit of any letter of credit or other credit support (other than such unsecured guarantees from any Credit Party), (ii) such Indebtedness shall have no portion of its principal amount scheduled to be due and payable prior to the first anniversary of the Revolver Maturity Date, (iii) such Indebtedness shall have the benefit of no financial maintenance covenants that are more restrictive than, or that conflict with, those set forth in Section 5.9 of this Agreement and (iv) no covenant benefiting such Indebtedness shall restrict theany Borrower or any Credit Party from incurring $450,000,000550,000,000 of Indebtedness under this Agreement andplus the proceeds of any Incremental Facility incurred pursuant to Section 2.22 hereof; provided, further, that both before and after giving effect to the incurrence of such Indebtedness and the application of any of the proceeds thereof on the issuance date no Default or Event of Default exists or would exist and, on a pro forma basis, the BorrowerBorrowers shall be in compliance with the financial covenants set forth in Section 5.9 of this Agreement.

Examples of Qualified Senior Notes in a sentence

• For the purposes of determining compliance with such covenant, indebtedness of a Qualified SPE attributable to Qualified Senior Notes shall be excluded and Qualified Installment Sale Notes shall not be included in determinations of Total Asset Value.

• For the avoidance of doubt, to the extent a Material Acquisition is consummated and Qualified Senior Notes are issued in the same fiscal quarter, clause (iii) of the foregoing paragraph shall apply.

• While any Qualified Senior Notes are outstanding, a Senior Secured Leverage Ratio shall be maintained as of the last day of each fiscal quarter of Partners of not greater than 3.75 to 1.00.

• From and after the date on which any Borrower or any Credit Party issues Qualified Senior Notes in an aggregate principal amount (when combined with all other Qualified Senior Notes previously or concurrently issued) that equals or exceeds $175,000,000 in the aggregate, the Senior Leverage Ratio, calculated as of the last day of each fiscal quarter or as of any other date on a Pro Forma Basis shall be less than or equal to 3.00 to 1.00.

• Permit the Consolidated Senior Secured Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Borrower to exceed 3.50 to 1.00 from and after the date on which the Borrower issues Qualified Senior Notes in an aggregate principal amount (when combined with all other Qualified Senior Notes previously or concurrently issued) that equals or exceeds $200,000,000.

More Definitions of Qualified Senior Notes

Qualified Senior Notes means any unsecured Indebtedness for borrowed money of, or in respect of a private placement or public sale of notes, bonds or debentures by, any Loan Party, and any unsecured guarantees thereof by any Guarantor; provided that (i) such Indebtedness shall not have the benefit of any letter of credit or other credit support (other than such unsecured guarantees from any Guarantor); (ii) such Indebtedness shall have no portion of its principal amount scheduled to be due and payable prior to the first anniversary of the Revolving Commitment Termination Date; (iii) such Indebtedness shall have the benefit of no financial maintenance covenants that are more restrictive than those contained herein; and (iv) no covenant benefiting such Indebtedness shall restrict any Loan Party or any of its Restricted Subsidiaries from incurring or repaying Indebtedness under this Agreement, Guaranteeing such Indebtedness under the other Loan Documents or granting a Lien on its assets to secure the Obligations.

Qualified Senior Notes means Lead Borrower’s 11 1/4 % Senior Notes due October 15, 2010 issued pursuant to the Qualified Senior Note Agreement.

Qualified Senior Notes as defined in Section 7.2(i).

Qualified Senior Notes means senior unsecured notes issued by the Borrower, or issued by Partners and Guaranteed by the Borrower, with a principal amount outstanding of not less than $150,000,000 at any time of determination and that constitute Permitted Indebtedness. One or more “co-issuer” Subsidiaries of Partners or the Borrower may also be obligors on such Qualified Senior Notes provided such Subsidiaries are also Guarantors.

Qualified Senior Notes means the senior promissory notes issued by the Qualified SPE to a trustee acting on behalf of Persons acquiring interests in such notes in an institutional private placement in connection with the Qualified Installment Sale Transaction and secured solely by the Qualified Installment Sale Notes and the Qualified Letters of Credit held by such Qualified SPE without recourse to the Company or any other Subsidiary.

Qualified Senior Notes means any unsecured Indebtedness for borrowed money of, or in respect of a private placement or public sale of notes, bonds or debentures by, any Loan Party, and any unsecured guarantees thereof by any Guarantor; provided that (i) such Indebtedness shall not have the benefit of any letter of credit or other credit support (other than such unsecured guarantees from any Guarantor);

Qualified Senior Notes shall have the meaning assigned to such term in Section 6.01(r).