Qualifying Debt definition

Qualifying Debt means amount due, which includes interest or any other sum due in respect of the amounts owed under any contract, by the debtor for a liquidated sum either immediately or at certain future time and does not include—

Qualifying Debt means a line of debt-

Qualifying Debt means indebtedness of the Operating Partnership that is:

Examples of Qualifying Debt in a sentence

• Qualifying Debt is a claim which (i) was held by the same creditor for at least 18 months prior to the bankruptcy filing or (ii) arose in the ordinary course of a corporation's trade or business and has been owned, at all times, by the same creditor.

• During the Protected Period, if Guaranteed Debt is to be repaid and, immediately after such repayment, the outstanding amount of Guaranteed Debt would be less than the Maximum Guarantee Amount with respect to such Guaranteed Debt, the Operating Partnership shall use commercially reasonable efforts to provide to each Protected Person a new Guarantee Opportunity with respect to Qualifying Debt in an amount equal to the Guaranteed Debt being repaid.

• During the Protected Period, if Guaranteed Debt is to be repaid and, immediately after such repayment, the outstanding amount of such Guaranteed Debt would be less than the Guarantee Amount with respect to such Guaranteed Debt, the Operating Partnership shall use commercially reasonable efforts to provide to the Contributor a new Guarantee Opportunity with respect to Qualifying Debt in an amount equal to the Guaranteed Debt being repaid.

• Qualifying Debt is a claim which (i) was held by the same creditor for at least 18 months prior to the bankruptcy filing or (ii) arose in the ordinary course of a corporation’s trade or business and has been owned, at all times, by the same creditor.

• During the Protected Period, if Guaranteed Debt is to be repaid and, immediately after such repayment, the outstanding amount of such Guaranteed Debt would be less than the Guarantee Amount with respect to such Guaranteed Debt, the Operating Partnership shall use commercially reasonable efforts to provide to each Contributor a new Guarantee Opportunity with respect to Qualifying Debt in an amount equal to the Guaranteed Debt being repaid.

More Definitions of Qualifying Debt

Qualifying Debt means a debt falling within section 3(1);

Qualifying Debt in relation to a debtor, means a debt other than an excluded debt and—

Qualifying Debt means indebtedness of the Operating Partnership that meets both (1) either condition (A) or condition (B) below and (2) condition (C) below: (A) It is unsecured debt of the Operating Partnership (or any entity disregarded as separate from the Operating Partnership for federal income tax purposes) with respect to which the lender has recourse, without limitation, to all assets of the Operating Partnership (or such entity disregarded as separate from the Operating Partnership for federal income tax purposes), provided such debt is not junior to any other unsecured debt of the Operating Partnership (or such entity disregarded as separate from the Operating Partnership for federal income tax purposes); or (B) (x) It is debt of the Operating Partnership (or any entity disregarded as separate from the Operating Partnership for federal income tax purposes) secured by real property (“Collateral”) with a value, as determined in good faith by the Operating Partnership, at least equal to 150% of the loan balance at the time of the Guarantee (as defined below) or at the time any subsequent guarantee of such debt is incurred by another party, provided that if interest on such debt is not required to be paid at least annually or if the documents evidencing such debt permit the borrower to borrow additional amounts that are secured by the Collateral, the outstanding principal amount of such debt shall include the maximum amount that could be so added to the principal amount of such debt, and (y) the Collateral does not provide security for another debt (other than another Qualifying Debt) that ranks senior to, or pari passu with, the debt described in clause (x) above. For purposes of determining whether clause (B)(y) has been satisfied in situations where one or more potential Qualifying Debt are secured by more than one item of Collateral, the Operating Partnership shall allocate such liabilities among such items of Collateral in proportion to their relative fair market values (as determined in good faith by the Operating Partnership); and (C) In any event, such indebtedness is provided by a lender that (x) does not have an interest in the Operating Partnership and (y) is not related to the Operating Partnership or the Contributor within the meaning of Section 465(b)(3)(C) of the Code. Debt which satisfies requirement (A) or (B) above will not be Qualifying Debt if and when there is another guarantee by any person (other than the Operating Partnership) with respect to ...

Qualifying Debt means as defined in Iowa Code section 421.65(1)(d).

Qualifying Debt means amount due, which includes interest or any other sum

Qualifying Debt means any of the following:

Qualifying Debt means (i) unsecured debt of the Operating Partnership (or any subsidiary thereof) with respect to which the lender has recourse, without limitation, to all assets of the Operating Partnership (or such subsidiary) provided such debt is not junior to any other unsecured debt of the Operating Partnership (or such subsidiary) or (ii) debt of the Operating Partnership (or any subsidiary thereof) secured by property with a value, as determined in good faith by the Company, at least equal to 150% of the loan balance at the time of the Guarantee (as defined below) or at the time any subsequent guarantee of such debt is incurred by another party. Debt which satisfies requirement (i) or (ii) above will not be Qualifying Debt if and when there is another guarantee by any person (other than the Company) with respect to the same indebtedness that is prior to (i.e., with less economic risk) the Guarantee provided by Contributor pursuant to this Agreement.