Secured Bank Indebtedness definition

Secured Bank Indebtedness means any Bank Indebtedness that is secured by a Permitted Lien incurred or deemed incurred pursuant to clause (6)(B) of the definition of Permitted Lien.

Secured Bank Indebtedness means any Bank Indebtedness that is secured by a Permitted Lien incurred or deemed incurred pursuant to clause (6)(B) of the definition of Permitted Liens.

Secured Bank Indebtedness means any Bank Indebtedness that is secured by a Permitted Lien incurred or deemed incurred pursuant to clause (8) of the definition of Permitted Lien, as designated by Hexion to be included in this definition.

Examples of Secured Bank Indebtedness in a sentence

• In addition, so long as GSMP constitutes the Required Holders, any Indebtedness incurred under Section 4.03(a) or under clause (xii) of Section 4.03(b) shall be either (i) Secured Indebtedness in which the Liens rank on a parity with the Liens granted under the Secured Bank Indebtedness or the Senior Notes or (ii) Pari Passu Indebtedness or Subordinated Indebtedness.

• The Company shall give prompt written notice to the Trustee of any default under any Project Indebtedness and Senior Secured Bank Indebtedness or under any agreement pursuant to which Project Indebtedness and Senior Secured Bank Indebtedness may have been issued.

• The Company agrees, and each Holder, by such Hxxxxx’s acceptance thereof, likewise agrees, that the indebtedness represented by the Securities is hereby expressly subordinated and junior, to the extent and in the manner set forth in this Article IV, in right of payment to the prior payment in full of the Project Indebtedness and Senior Secured Bank Indebtedness and any guarantee relating to the Project Indebtedness and Senior Secured Bank Indebtedness.

• Only the Project Indebtedness and the Senior Secured Bank Indebtedness (and any related guarantees) shall rank senior to the Securities in accordance with the provisions set forth herein.

• Upon the maturity of any Project Indebtedness and Senior Secured Bank Indebtedness by lapse of time, acceleration or otherwise, all principal of or premium, if any, or interest on, rent or other payment obligations in respect of all such matured Project Indebtedness and Senior Secured Bank Indebtedness shall first be paid in full, or such payment shall have been duly provided for, before any payment on account of principal or interest is made upon the Securities.

More Definitions of Secured Bank Indebtedness

Secured Bank Indebtedness means any Bank Indebtedness that is secured by a Permitted Lien incurred or deemed incurred pursuant to clause (6)

Secured Bank Indebtedness means any Bank Indebtedness that is secured by Permitted Liens Incurred or deemed Incurred pursuant to (i) clause (6)(B) of the definition of Permitted Liens or (ii) clause (25) of the definition of Permitted Liens and that are, in each case, secured by Liens on the Collateral that are pari passu with the Liens securing any outstanding Indebtedness that was permitted to be Incurred under Section 4.03(b)(i).

Secured Bank Indebtedness means any Bank Indebtedness that is secured by a Permitted Lien Incurred or deemed to be Incurred pursuant to clause (6)(B) of the definition of “Permitted Liens,” as designated by the Issuer to be included in this definition; provided that if such Bank Indebtedness is intended to constitute First Priority Lien Obligations, then an authorized representative of the holders of such Bank Indebtedness shall (if not already a party thereto) become a party to the First Lien Intercreditor Agreement.

Secured Bank Indebtedness has the meaning assigned to such term in the Indenture.

Secured Bank Indebtedness means Bank Indebtedness that is secured by a Permitted Lien incurred in reliance on clause (7) of the definition thereof.

Secured Bank Indebtedness means all Indebtedness of the Issuer or any Guarantor outstanding under the Senior Credit Facilities and related Guarantees (including interest accruing on or after the filing of any petition in bankruptcy or similar proceeding or for reorganization of the Issuer or any Guarantor (at the rate provided for in the documentation with respect thereto, regardless of whether or not a claim for post-filing interest is allowed in such proceedings)), and any and all other fees, expense reimbursement obligations, indemnification amounts, penalties, and other amounts (whether existing on the Issue Date or thereafter created or incurred) and all obligations of the Issuer or any Guarantor to reimburse any bank or other Person in respect of amounts paid under letters of credit, acceptances or other similar instruments, in each case to the extent arising under the Senior Credit Facilities that is secured by a Lien.

Secured Bank Indebtedness means any Bank Indebtedness that is secured by a Permitted Lien Incurred or deemed Incurred pursuant to clause(6) of the definition of Permitted Liens, as designated by the Company to be included in this definition. “Secured Indebtedness” means any Indebtedness secured by a Lien.