Secured Subordinated Debt definition

Secured Subordinated Debt means Subordinated Debt of any Person which is secured by a Lien.
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Secured Subordinated Debt in this Section 1.1.
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Secured Subordinated Debt in Section 1.1 of the Agreement is hereby deleted and restated as follows:
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Examples of Secured Subordinated Debt in a sentence

  • Each Borrower shall use the proceeds of Advances and each Letter of Credit to repay existing debt obligations of the Borrowers to CapitalSource Finance LLC, buy back Secured Subordinated Debt and for ordinary working capital purposes.

  • Other than the Obligations and the Indebtedness evidenced by the Secured Subordinated Debt Documents, there exists no other Designated Senior Debt (as defined in the New Indenture).

  • Subject to the terms and conditions of the subordination agreement referenced in Section 10.2 above, the Borrower agrees that the only scheduled payments on the Secured Subordinated Debt will be scheduled interest payments on promissory notes evidencing Secured Subordinated Debt so long as the Line of Credit is in effect.

  • Reid Titlx: Xxxxxx Xxce President UNION BANK OF CALIFORNIA, N.A. By: /s/ Damien Meiburger -------------------- Name: Damien Meiburger Txxxx: Xxxxxx Xxce President Schedule 11.1 Although the Borrower is not required by the documents evidencing the Secured Subordinated Debt to issue Capital Stock in payment of the Secured Subordinated Debt, pursuant to such documents it has the option to do so.

  • Immediately after giving effect to the Merger and Share Exchange, the Debtor shall have no outstanding Indebtedness, other than the Guaranty, the notes evidencing the Secured Subordinated Debt, the obligations of the Debtor under any lease of real or personal property as lessee which is required under GAAP to be capitalized on its balance sheet and indebtedness relating to Permitted Liens.

  • The entire amount of the Secured Subordinated Debt shall have been funded in accordance with the terms of the Secured Subordinated Debt Documents.

  • The Security Agreement constitutes a first priority security interest affecting one hundred percent (100%) of the issued and outstanding stock of the Guarantor, and there are no other Encumbrances affecting the said stock except for a subordinated Encumbrance granted or to be granted by Borrower as security for the Secured Subordinated Debt.

  • Northern Border and ONEOK each agree, upon request, to use their reasonable efforts to obtain any certificate or other document from any Tax Authority or any other Person as may be necessary to mitigate, reduce or eliminate any Tax that could be imposed with respect to the transactions contemplated by this Agreement.

  • The execution of this Agreement does not and will not violate or conflict with, or cause any default or event of default to occur under, any document evidencing the Secured Subordinated Debt.

  • Subject to the terms and conditions of the subordination agreement referenced in Section 10.2 above, the Borrower agrees that the only scheduled payments on the Secured Subordinated Debt due prior to the later of the stated Facility A Termination Date and the stated Facility B Termination Date will be scheduled interest payments on promissory notes evidencing Secured Subordinated Debt.


More Definitions of Secured Subordinated Debt

Secured Subordinated Debt means indebtedness of the Borrower (and any Subsidiary of Borrower that is a Guarantor) outside of the Line of Credit, issued for total net proceeds not to exceed $28,000,000.00, which indebtedness may bear stated cash interest expense of up to 12% per annum (prior to default); provided that (i) the documents governing the issuance thereof are entered into on or before December 31, 2004 (provided that additional notes may be issued thereunder prior to October 29, 2006), (ii) if such indebtedness is secured by a mortgage lien on the Mortgaged Properties, such lien shall be subordinate and inferior to the Agent's mortgage lien on the Mortgaged Properties, and (iii) the Required Lenders have reviewed and approved the documents governing said issuance.
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Secured Subordinated Debt means any and all debts, obligations and liabilities owing by any Borrower or the Public Parent, subject to a Subordination Agreement, under the terms of any of the following: the Note Securities Purchase Agreement by and among Global, Amatis Limited and the other buyers party thereto, if any (collectively, the “Buyers”), dated as of March 31, 2006; the Public Parent’s Senior Secured Convertible Notes, each dated as of March 31, 2006, payable to the order of Amatis Limited and the Buyers, in the original aggregate principal amount of $30,000,000; the Guaranty executed by certain Borrowers in favor of Amatis Limited in its capacity as collateral agent for the Buyers and any other agreements, instruments and documents related thereto.
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Secured Subordinated Debt means indebtedness of the Borrower (and any Subsidiary of Borrower that is a Guarantor) outside of the Line of Credit, issued for total net proceeds not to exceed $25,000,000.00, which indebtedness may bear stated cash interest expense of up to 12% per annum (prior to default); provided that (i) the documents governing the issuance thereof are entered into on or before December 31, 2004, (ii) such indebtedness is secured by a mortgage lien on the Mortgaged Properties that is subordinate and inferior to the Agent's mortgage lien on the Mortgaged Properties, and (iii) the Required Lenders have reviewed and approved the documents governing said issuance.
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Secured Subordinated Debt means any and all amounts owing by any Borrower or the Public Parent under the terms of any of the following: the Note Securities Purchase Agreement by and among Global, Amatis Limited and the other buyers party thereto, if any (collectively, the “Buyers”), dated as of March 31, 2006; the Public Parent’s Senior Secured Convertible Notes, each dated as of March 31, 2006, payable to the order of Amatis Limited and the Buyers, in the original aggregate principal amount of $30,000,000; the Guaranty executed by each Borrower in favor of Amatis Limited in its capacity as collateral agent for the Buyers and any other agreements, instruments and documents related thereto.
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Secured Subordinated Debt means any and all debts, obligations and liabilities owing by any Borrower or the Public Parent, subject to a Subordination Agreement, under the terms of any of the following: the Note Securities Purchase Agreement by and among Global, the collateral agent for the Subordinated Creditors and the buyers party thereto (collectively, the “Buyers”), dated as of March 31, 2006, as amended; the Public Parent’s Senior Secured Convertible Notes, and any note or notes issued in substitution therefor, originally issued as of March 31, 2006, as amended, payable to the order of the Buyers or the Buyers’ assignees, in the original aggregate principal amount of $30,000,000; the Guaranty executed by certain Borrowers in favor of the collateral agent for the Subordinated Creditors in its capacity as collateral agent for the Buyers, and any other agreements, instruments and documents related thereto.
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Related to Secured Subordinated Debt

  • Permitted Subordinated Debt means unsecured Indebtedness incurred by the Borrowers and any Subsidiary Guarantors (a) that is subordinated to the obligations of the Borrowers to pay principal of and interest on the Loans, Reimbursement Obligations, fees and other amounts payable hereunder and under the other Loan Documents, (b) that does not mature or have scheduled amortization or payments of principal prior to the date that is ninety-one (91) days after the Latest Maturity Date at the time such Indebtedness is incurred, (c) the terms of which do not require the Borrowers or any of their Subsidiaries to repurchase, repay or redeem such Indebtedness (or make an offer to do any of the foregoing) upon the happening of any event (other than as a result of an event of default thereunder or pursuant to customary “change of control” provisions or asset sale offers) prior to the 91st day following the Latest Maturity Date at the time such Indebtedness is incurred and (d) the documentation for which provides for covenants, events of default and terms that the Borrowers determine are market for similar financings at the time such Indebtedness is issued; provided that in no event shall such documentation contain any financial maintenance covenant (which term does not apply to incurrence-based financial tests that may be included in such documentation); provided, further, that at the time of incurrence, on a pro forma basis after giving effect to the incurrence of such Indebtedness, Borrowers shall be in compliance with Section 8.10 as of the last day of the most recent fiscal quarter of the Borrowers for which financial statements are available.

  • Senior Subordinated Debt means the Indebtedness represented by the Senior Subordinated Notes (including the Note Guarantees, Exchange Notes (each as defined in the Senior Subordinated Debt Documents), guarantees of Exchange Notes and any replacement Exchange Notes).

  • Senior Subordinated Indebtedness means the Securities and any other Indebtedness of the Company that specifically provides that such Indebtedness is to rank pari passu with the Securities in right of payment and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of the Company which is not Senior Indebtedness.

  • Permitted Subordinated Indebtedness means Indebtedness incurred after the Closing Date by the Borrower or the Subsidiaries that is (i) subordinated to the Obligations and all other Indebtedness owing from the Borrower or the Subsidiaries to the Lender pursuant to a written subordination agreement satisfactory to the Lender in its sole discretion and (ii) in an amount and on terms approved by the Lender in its sole discretion.

  • Junior Subordinated Debt means (a) subordinated junior deferrable interest debentures of the Borrower, (b) the related preferred securities, if applicable, of Subsidiaries of the Borrower and (c) the related subordinated guarantees, if applicable, of the Borrower, in each case, from time to time outstanding.

  • Eligible Subordinated Debt means, at any time in respect of any issuer, each series of the issuer’s then-outstanding long-term indebtedness for money borrowed that (a) upon a bankruptcy, liquidation, dissolution or winding up of the issuer, ranks subordinate to the issuer’s then outstanding series of indebtedness for money borrowed that ranks most senior, (b) is then assigned a rating by at least one NRSRO (provided that this clause (b) shall apply on a Redesignation Date only if on such date the issuer has outstanding subordinated long-term indebtedness for money borrowed that satisfies the requirements in clauses (a), (c) and (d) that is then assigned a rating by at least one NRSRO), (c) has an outstanding principal amount of not less than $100,000,000, and (d) 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 as applied to securities with a CUSIP number, each issuance of long-term indebtedness for money borrowed that has (or, if such indebtedness is held by a trust or other intermediate entity established directly or indirectly by the issuer, the securities of such intermediate entity that have) a separate CUSIP number shall be deemed to be a series of the issuer’s long-term indebtedness for money borrowed that is separate from each other series of such indebtedness.

  • Junior Subordinated Indebtedness means the principal of (and premium, if any) and unpaid interest on (a) indebtedness of the Company (including indebtedness of others guaranteed by the Company), whether outstanding on the date hereof or thereafter created, incurred, assumed or guaranteed, for money borrowed, which in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such indebtedness ranks junior in right of payment to the Company’s Senior Indebtedness and Senior Subordinated Indebtedness and equally and pari passu in right of payment to any other Junior Subordinated Indebtedness, (b) Junior Subordinated Securities, and (c) renewals, extensions, modifications and refinancings of any such indebtedness.

  • Subordinated Debt is indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to Bank.

  • Guarantor Subordinated Obligations means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Junior Subordinated Debentures means the aggregate principal amount of the Depositor's ____% Junior Subordinated Deferrable Interest Debentures, due ________ __, 2027, issued pursuant to the Indenture.

  • Guarantor Subordinated Obligation means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinate in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Senior Subordinated Notes means the Borrower’s 9.75% Senior Subordinated Notes due 2014, in an original aggregate principal amount of $225,000,000.

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • Junior Subordinated Notes means the $__________ aggregate principal amount of the Depositor's Series __ ____% Junior Subordinated Notes due ____ __, ____, issued pursuant to the Subordinated Indenture.

  • Subordinated Indebtedness Documents means any document, agreement or instrument evidencing any Subordinated Indebtedness or entered into in connection with any Subordinated Indebtedness.

  • Senior Subordinated Note Documents means the Senior Subordinated Notes Indenture and all other instruments, agreements and other documents evidencing the Senior Subordinated Notes or providing for any guarantee or other right in respect thereof.

  • Subordinated Loan Agreement means any loan agreement made or to be made between (i) any Borrower and (ii) a Subordinated Creditor.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • Senior Subordinated Indenture means the Indenture, dated as of August 30, 2007, among the Company, the subsidiary guarantors party thereto from time to time and Xxxxx Fargo Bank, National Association, as trustee, governing the 13.5% Senior Subordinated Notes due 2015 of the Company, as the same may be amended, supplemented, waived or otherwise modified from time to time.

  • Secured Longer-Term Indebtedness means, as at any date, Indebtedness for borrowed money (other than Indebtedness hereunder) of the Borrower (which may be Guaranteed by Subsidiary Guarantors) that (a) has no amortization (other than for amortization in an amount not greater than 1% of the aggregate initial principal amount of such Indebtedness per annum (or an amount in excess of 1% of the aggregate initial principal amount of such Indebtedness per annum on terms mutually agreeable to the Borrower and the Required Lenders)) or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date; (b) is incurred pursuant to documentation containing (i) financial covenants, covenants governing the borrowing base, if any, covenants regarding portfolio valuations, and events of default that are no more restrictive in any respect than those set forth in this Agreement (other than, if such Indebtedness is governed by a customary indenture or similar instrument, events of default that are customary in indentures or similar instruments and that have no analogous provisions in this Agreement or credit agreements generally) (provided that, upon the Borrower’s request, this Agreement will be deemed to be automatically amended (and, upon the request of the Administrative Agent or the Required Lenders, the Borrower and the Lenders shall enter into a document evidencing such amendment), mutatis mutandis, to make such covenants more restrictive in this Agreement as may be necessary to meet the requirements of this clause (b)(i)) and (ii) other terms (other than interest and any commitment or related fees) that are no more restrictive in any material respect than those set forth in this Agreement; and (c) ranks pari passu with the obligations under this Agreement and is not secured by any assets of any Person other than any assets of any Obligor pursuant to the Security Documents and the holders of which, or the agent, trustee or representative of such holders on behalf of and for the benefit of such holders, have agreed to be bound by the provisions of the Security Documents in a manner reasonably satisfactory to the Administrative Agent and the Collateral Agent. For the avoidance of doubt, (a) Secured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Secured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Secured Longer-Term Indebtedness shall be subject to Section 6.12.

  • Subordinated Indebtedness means any Indebtedness of the Borrower or any Subsidiary the payment of which is subordinated to payment of the obligations under the Loan Documents.

  • Required Subordinated Amount means, as of a date, the sum of:

  • Senior Subordinated Note Indenture the Indenture entered into by the Borrower and certain of its Subsidiaries in connection with the issuance of the Senior Subordinated Notes, together with all instruments and other agreements entered into by the Borrower or such Subsidiaries in connection therewith, as the same may be amended, supplemented or otherwise modified from time to time in accordance with Section 7.9.

  • Existing Subordinated Notes means any instrument or loan issued or incurred before 1 January 2013, whether publicly or privately placed, ranking or expressed to be ranking pari passu with all other subordinated obligations (except for those subordinated obligations expressed by their terms to rank junior), provided that should any such Existing Subordinated Notes be amended in any way (contractually or by statute) which would result in allowing the Issuer to issue subordinated notes ranking senior thereto, then such Subordinated Notes would be deemed to no longer constitute an Existing Subordinated Note. As a result, in the event of liquidation or bankruptcy of the Issuer or in the event of a Moratorium (as defined in Condition 3 of the Conditions of the Notes) with respect to the Issuer, the claims of the holders of the Subordinated Notes ("Subordinated Noteholders") against the Issuer will be:

  • Final Indebtedness has the meaning set forth in Section 3.2(b).

  • Guarantor Senior Debt shall include the principal of, premium, if any, and interest on all Obligations of every nature of such Subsidiary Guarantor from time to time owed to the lenders under the Partnership Credit Facility, including, without limitation, principal of and interest on, and all fees, indemnities and expenses payable by such Subsidiary Guarantor under, the Partnership Credit Facility, and (y) in the case of amounts owing by such Subsidiary Guarantor under the Partnership Credit Facility and guarantees of Designated Senior Indebtedness, "Guarantor Senior Debt" shall include interest accruing thereon subsequent to the occurrence of any Event of Default specified in clause (h) or (i) of Section 6.01 relating to such Subsidiary Guarantor, whether or not the claim for such interest is allowed under any applicable Bankruptcy Law. Notwithstanding the foregoing, "Guarantor Senior Indebtedness" shall not include (i) Indebtedness evidenced by the Notes or the Guarantees, (ii) Indebtedness that is expressly subordinate or junior in right of payment to any other Indebtedness of such Subsidiary Guarantor, (iii) any liability for federal, state, local or other taxes owed or owing by such Subsidiary Guarantor, (iv) Indebtedness of such Subsidiary Guarantor to the Partnership or a Subsidiary of the Partnership or any other Affiliate of the Partnership, (v) any trade payables of such Subsidiary Guarantor, and (vi) any Indebtedness which is incurred by such Subsidiary Guarantor in violation of this Indenture.