Qualified Subordinated Debt means Subordinated Debt issued by the Credit Parties, which (a) matures on or after the first anniversary of the Maturity Date (and reduced, for purposes of this definition, by any principal amortization payments of such Subordinated Debt payable prior to the Maturity Date) and (b) is in an aggregate amount not to exceed $300,000,000.
Qualified Subordinated Debt means Debt of the Company constituting the Senior Subordinated Debt or Subordinated Obligations of the type described in clause (i) of the definition of Subordinated Obligations if the following conditions are met:
Qualified Subordinated Debt means, with respect to any Person, all unsecured debt of such Person, for borrowed money, that is, by its terms or by the terms of a subordination agreement (which terms shall have been approved by Buyer), in form and substance satisfactory to Buyer, effectively subordinated in right of payment to all other present and future obligations and all indebtedness of such Person, of every kind and character, owed to Buyer under the Facility Documents and which terms or subordination agreement, as applicable, include, among other things, standstill and blockage provisions approved by Buyer, restrictions on amendments without the consent of Buyer, non-petition provisions and maturity date or dates for any principal thereof at least 395 days after the date hereof.
Examples of Qualified Subordinated Debt in a sentence
Leverage Ratio Total Liabilities (excluding Qualified Subordinated Debt): $ ____________ Adjusted Tangible Net Worth: $ ____________ LEVERAGE RATIO: ___ to 1.0 (c) Liquidity.
The Borrower acknowledges that any outstanding Qualified Subordinated Debt and any Qualified Redeemable Preferred Equity shall be counted and included as Debt for purposes of the financial covenants in this Section 5.15.
Seller shall not pay any Qualified Subordinated Debt in advance of its stated maturity or otherwise in contravention of the Subordination Agreement with respect thereto.
Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness (which, without limitation, may be in the form of Cure Loan Subordinated Debt that is incurred pursuant to the provisions of Section 8.2(b) or, if no amount of Cure Loan Subordinated Debt is then outstanding and assuming all other applicable conditions are met, in the form of Qualified Subordinated Debt).
Immediately upon the closing and funding of a Qualified Subordinated Debt Financing, the Borrower shall repay all then outstanding principal, together with all accrued but unpaid interest, under this Note and the other Notes.
More Definitions of Qualified Subordinated Debt
Qualified Subordinated Debt means, with respect to any Person, all unsecured Debt of such Person, for borrowed money, that is, by its terms or by the terms of a subordination agreement (which terms shall have been approved by Buyer), in form and substance satisfactory to Buyer, effectively subordinated in right of payment to all other present and future obligations and all indebtedness of such Person, of every kind and character, owed to Buyer and which terms or subordination agreement, as applicable, include, among other things, standstill and blockage provisions approved by Buyer, restrictions on amendments without the consent of Buyer, non-petition provisions and maturity date or dates for any principal thereof at least 395 days after the date hereof.
Qualified Subordinated Debt means unsecured Debt of the Seller to any Person as to which (a) the papers evidencing, securing, governing or otherwise related to such Debt are reasonably satisfactory in form and substance to Agent and Required Buyers and (b) that is subordinated to the Obligations pursuant to a currently effective and irrevocable Subordination Agreement, including standstill and blockage provisions, reasonably approved by the Agent and Required Buyers.
Qualified Subordinated Debt means Debt of the Seller to any Person which has been approved by the Administrative Agent (i) the papers evidencing, securing, governing or otherwise related to which Debt impose covenants and conditions on the debtor under them that are no more restrictive or onerous than the covenants and conditions imposed on the Seller by this Agreement, (ii) that is subordinated to the Obligations pursuant to a currently effective and irrevocable Subordination Agreement, including standstill and blockage provisions, approved by the Administrative Agent and (iii) the principal of which is not due and payable before 180 days after the date specified in clause (i) of the definition of “Termination Date.”
Qualified Subordinated Debt means, with respect to any Person, all unsecured Debt of such Person, for borrowed money, which is, by its terms or by the terms of a subordination agreement (which terms shall have been approved by Buyer), in form and substance satisfactory to Buyer, effectively subordinated in right of payment to all other present and future obligations and all indebtedness of such Person, of every kind and character, owed to Buyer and which terms or subordination agreement, as applicable, include, among other things, standstill and blockage provisions approved by Buyer, restrictions on amendments without the consent of Buyer, non-petition provisions and maturity date or dates for any principal thereof at least 395 days after the date hereof.
Qualified Subordinated Debt means indebtedness that is not secured, that may or may
Qualified Subordinated Debt means any Indebtedness of the Borrower (a)(i) to any Partner, or any Affiliate of any Partner, having, at the option of the Borrower, (A) subordination terms substantially identical to those set forth in Exhibit 1.01-A to the Agreement or (B) such other terms of subordination as are satisfactory to the Required Lenders or (ii) to any other Person, having subordination terms reasonably satisfactory to the Required Lenders and (b) unless and until the Loans have been paid in full (or are paid in full with the proceeds thereof) and no Lender has any Commitment hereunder, which does not by its terms, or by the terms of any agreement or contract under or pursuant to which it is issued or by which it is governed, provide for any of the following to occur prior to the first anniversary of the Termination Date: (i) a scheduled payment of any portion of the principal amount or accreted value of any such Indebtedness, (ii) a mandatory prepayment, redemption or repurchase of any portion of the principal amount or accreted value of any such Indebtedness (in the absence of an acceleration of the entire principal amount or accreted value of such Indebtedness by the holders thereof or their representative by reason of the occurrence, or the occurrence and continuation, of a default or an event of default with respect thereto) or (iii) the irrevocable deposit, segregation or setting aside of any funds or assets by the Borrower; provided, however, that any outstanding Qualified Subordinated Debt that is -------- ------- Affiliate Indebtedness of the Borrower shall cease to be Qualified Subordinated Debt in the event that (i) such Affiliate Indebtedness is, in the good faith judgment of the Required Lenders, more favorably subordinated to holders of Indebtedness pari passu with the Obligations ---- ----- than such Affiliate Indebtedness is subordinated to the Obligations and (ii) the Borrower does not concurrently therewith cause to be effected either an amendment of such Affiliate Indebtedness, or a legally, valid, binding and enforceable agreement relating thereto, whereby such Affiliate Indebtedness is subordinated to the Obligations on terms substantially identical to the terms on which it is subordinated to such pari passu ---- ----- Indebtedness.
Qualified Subordinated Debt means subordinated debt pursuant to which the borrower's obligation to pay interest on a current basis is contingent upon the borrower meeting certain financial tests satisfactory to Landlord and Lender.