Qualifying Subordinated Debt means Debt of the Company and its Subsidiaries which by its terms provides that the payment of principal of (and premium, if any) and interest on and all other payment obligations in respect of such Debt shall be subordinate to the prior payment in full of the Company’s obligations in respect of the Notes to at least the extent that no payment of principal of (or premium, if any) or interest on or otherwise due in respect of such Debt may be made for so long as there exists any default in the payment of principal (or premium, if any) or interest on the Notes.
Qualifying Subordinated Debt means unsecured senior subordinated notes of Holdings or the U.S. Borrower in an aggregate principal amount for all such Persons not to exceed $100,000,000 containing terms and conditions no less favorable to such Person (other than interest rates; provided that any yield in excess of 13% per annum shall be payable in additional unsecured senior subordinated notes or shall be capitalized or accreted discount), and no more favorable to the holders thereof, in each case in any material respect, than those of the Senior Subordinated Notes or containing such other terms and conditions (including rate of interest, maturity, covenants, events of default and subordination provisions) reasonably acceptable to the Agents; provided that, immediately prior to the issuance of any such notes, Holdings shall have delivered to the Agents a Compliance Certificate for the period of four full Fiscal Quarters immediately preceding such issuance (prepared in good faith and in a manner and using such methodology which is consistent with the most recent financial statements delivered pursuant to Section 7.1.1) giving pro forma effect to such issuance and the application of the proceeds therefrom and evidencing compliance with the covenants set forth in Section 7.2.4.
Qualifying Subordinated Debt means Debt of the Company (i) which by its terms provides that the payment of principal of (and premium, if any) and interest on and all other payment obligations in respect of such Debt shall be subordinate to the prior payment in full of the Company’s obligations in respect of the Securities pursuant to Article 5 to at least the extent that no payment of principal of (or premium, if any) or interest on or otherwise due in respect of such Debt may be made for so long as there exists any default in the payment of principal (or premium, if any) or interest on the Securities or any other default that with the passing of time or the giving of notice, or both, would constitute an event of default with respect to the Securities; and (ii) which expressly by its terms gives the Company the right to make payments of principal in respect of such Debt in Common Stock of the Company.
Examples of Qualifying Subordinated Debt in a sentence
Qualifying Subordinated Debt All of BNY Mellon’s subordinated debt is included as Tier 2 regulatory capital.
DESCRIPTIONTIER 2 (SUPPLEMENTARY) CAPITAL for ADVANCED APPROACHES INSTITUTIONS THAT EXIT PARALLEL RUN NARRATIVEIncludes the sum of "Qualifying Subordinated Debt" (5306), "Capital Certificates" (5307), "Nonwithdrawable Deposit Accounts Not Reported In Item 5267" (5308), "Other Equity Instruments" (5309), and "General Loan And Lease Valuation Allowances" (5310).
CCR310: Qualifying Subordinated Debt and Redeemable Preferred StockInclude:1.
Qualifying Subordinated Debt and Redeemable Preferred Stock…………..
Qualifying Subordinated Debt is defined as subordinated debt that contains the interest deferral feature.
More Definitions of Qualifying Subordinated Debt
Qualifying Subordinated Debt means Debt of the Borrower owing to Textron or another Affiliate; provided that such Debt is subordinated to the Loans and the obligations of the Borrower hereunder pursuant to a subordination agreement substantially in the form of Exhibit I hereto.
Qualifying Subordinated Debt means unsecured senior subordinated notes of Holdings or Borrower in an aggregate principal amount not to exceed $50,000,000 containing terms and conditions no less favorable to Borrower, and no more favorable to the holders thereof, in each case in any material respect, than those of the New Notes or containing such other terms and conditions (including rate of interest, maturity, covenants, events of default and subordination provisions) reasonably acceptable to the Agents; provided that, immediately prior to the issuance of any such notes, Borrower shall have delivered to the Agents a Compliance Certificate for the period of four full Fiscal Quarters immediately preceding such issuance (prepared in good faith and in a manner and using such methodology which is consistent with the most recent financial statements delivered pursuant to subsection 5.1) giving pro forma effect to such issuance and the application of the proceeds therefrom and evidencing compliance with the covenants set forth in subsection 6.5.
Qualifying Subordinated Debt means the principal amount (excluding capitalised interest) of any Indebtedness of the Core Borrowers which is subordinated on the same terms as Junior Debt is subordinated under this deed and:
Qualifying Subordinated Debt means (i) Subordinated Debt issued by the Company pursuant to the Atalaya Subordinated Loan Agreement that is at all times subject to the Atalaya Subordination and Intercreditor Agreement; and (ii) until the sooner of the Fourth Amendment Effective Date Refinancing and the date that is not more than fifteen (15) days following the Fourth Amendment Effective Date, unsecured Subordinated Debt (which shall include principal amount outstanding and any accrued noncurrent pay interest) of the Company and, in each case, has, as of any date the same is to be determined, a maturity date not less than six (6) months after, and no principal amortization occurring prior to, the Final Maturity Date.
Qualifying Subordinated Debt means unsecured Subordinated Debt of the Borrower that is subject to a written subordination agreement in form and substance acceptable to the Administrative Agent that has, as of any date the same is to be determined, a maturity date not less than twelve (12) months after the Termination Date and no principal amortization occurring prior to the Termination Date.
Qualifying Subordinated Debt means Debt of the Company (i) which by its terms provides that the payment of principal of (and premium, if any) and interest on and all other payment obligations in respect of
Qualifying Subordinated Debt means (a) Indebtedness of the Borrower or any of its Subsidiaries that satisfies each of the following requirements: (i) such Indebtedness is expressly subordinated to the Obligations on terms, and pursuant to documentation, acceptable to Agent; (ii) the other terms of such Indebtedness, and the documentation governing such Indebtedness, are acceptable to Agent; (iii) the stated final maturity of such Indebtedness is not earlier than the date 180 days after the Maturity Date, and such Indebtedness is not subject to any conditions that could result in such stated final maturity occurring on a date that precedes the date 180 days after the Maturity Date (it being understood that acceleration or mandatory repayment, prepayment, redemption or repurchase of such Indebtedness upon the occurrence of an event of default, asset sale or a change in control shall not be deemed to constitute a change in the stated final maturity thereof); (iv) such Indebtedness is not subject to any amortization requirement and is not required to be repaid, prepaid, redeemed, repurchased or defeased, whether on one or more fixed dates, upon the occurrence of one or more events or at the option of any holder thereof (except, in each case, upon the occurrence of an event of default, asset sale or a change in control) prior to the date 180 days after the Maturity Date; (v) such Indebtedness is not Guaranteed by any Subsidiary that is not a Loan Party, and any Guarantee by a Loan Party of such Indebtedness is subordinated to the Obligations on the same terms as such Indebtedness; and (vi) such Indebtedness is not secured by any Lien on any asset of the Borrower or any of its Subsidiaries, and (b) Qualifying Subordinated Convertible Debt.