Qualifying Subordinated Debt definition

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 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.

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).

  • No Guarantor shall, directly or indirectly, voluntarily purchase, redeem, defease or prepay any principal of, premium, if any, interest or other amount payable in respect of any Indebtedness prior to its scheduled maturity, other than (i) the Indebtedness under the Atalaya Subordinated Loan Agreement to the extent expressly permitted by the Atalaya Subordination and Intercreditor Agreement; and (ii) unsecured Qualifying Subordinated Debt in connection with the Fourth Amendment Effective Date Refinancing.

  • We show that this is because the unemployment rate understated the amount of slack in the US labor market.

  • For purposes of calculating Total Debt, the Company may exclude any Qualifying Subordinated Debt (as defined in subsection (E) below), all debt existing under the Industrial Revenue Bonds (as defined below) and indebtedness to AFG Trust described in Section 9(A)(vi).


More Definitions of Qualifying Subordinated Debt

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 (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 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 the Deed of Common Terms and in respect of which the other requirements specified in the Deed of Common Terms have been satisfied.
Qualifying Subordinated Debt appearing in Section 1.1 of the Credit Agreement is hereby amended by (i) inserting the text "Superholdco," immediately prior to the first appearance of the text "Holdings" contained said definition and (ii) deleting the text "no less favorable to Holdings or the U.S. Borrower" contained in such definition and inserting "no less favorable to such Person" in lieu thereof.
Qualifying Subordinated Debt means the principal amount (excluding capitalised interest) of any Indebtedness of the Borrower or of the TXUA Parent which is subordinated on the same terms as Junior Debt is subordinated under this deed and:
Qualifying Subordinated Debt means, at any time, each class or series of the Corporation’s then outstanding long-term indebtedness for money borrowed that (i) ranks subordinate to the Corporation’s then outstanding class or classes of indebtedness for money borrowed that rank most senior, (ii) is then assigned a rating by at least one NRSRO (provided that this clause (ii) shall apply on a Subordinated Redesignation Date only if on such date the Corporation has outstanding subordinated long-term indebtedness for money borrowed that satisfies the requirements in clauses (i), (iii) and (iv) that is then assigned a rating by at least one NRSRO), (iii) has an outstanding principal amount of not less than $50,000,000, and (iv) was issued through or with the assistance of a commercial or investment banking firm or firms acting as underwriters, initial purchasers or placement or distribution agents. For purposes of this definition, each issuance of long-term indebtedness for money borrowed of the Corporation that has (or, if such indebtedness is held by a trust or other intermediate entity established directly or indirectly by the Corporation, the securities of such intermediate entity have) a separate CUSIP number shall be deemed to be a class or series of the Corporation’s long-term indebtedness for money borrowed that is separate from each other class or series of such indebtedness.