Shareholder Subordinated Debt definition

Shareholder Subordinated Debt means, collectively, any debt provided to the Parent Guarantor by any direct or indirect parent holding company of the Parent Guarantor (or any Sponsor), in exchange for or pursuant to any security, instrument or agreement other than Capital Stock, together with any such security, instrument or agreement and any other security or instrument other than Capital Stock issued in payment of any obligation under any Shareholder Subordinated Debt; provided that such Shareholder Subordinated Debt:

Shareholder Subordinated Debt means, collectively, any debt provided to the Company by any direct or indirect parent holding company of the Company (or Melco Resorts), in exchange for or pursuant to any security, instrument or agreement other than Capital Stock, together with any such security, instrument or agreement and any other security or instrument other than Capital Stock issued in payment of any obligation under any Shareholder Subordinated Debt; provided that such Shareholder Subordinated Debt:

Shareholder Subordinated Debt means, collectively, any debt provided to the Company by any direct or indirect parent holding company of the Company (or the Sponsor), in exchange for or pursuant to any security, instrument or agreement other than Capital Stock, together with any such security, instrument or agreement and any other security or instrument other than Capital Stock issued in payment of any obligation under any Shareholder Subordinated Debt; provided that such Shareholder Subordinated Debt:

Examples of Shareholder Subordinated Debt in a sentence

• Borrower shall not, nor shall it permit its Subsidiaries to, create, incur, assume or issue other Indebtedness if, immediately after the incurrance thereof, the ratio of Funded Debt to Consolidated Tangible Net Worth, plus Shareholder Subordinated Debt of the Borrower, would exceed 7 to 1.

• The financial covenants set forth in subsections 10.02(a) (captioned “Leverage Ratio”), 10.02(c) (captioned “Interest Coverage Ratio”) and 10.02(d) (captioned “Fixed Charge Ratio”) shall be calculated without giving effect to the principal amount of the Shareholder Subordinated Debt or any interest payable thereunder.

• The Company shall have entered into binding agreements ("Shareholder Subscription Agreements") for the conversion of the Shareholder Subordinated Debt, together with accrued interest, into equity of the Company on substantially the same terms as subscribers to the Private Placement.

• On or before July 30, 1999, the Borrower shall apply the $30,000,000 of proceeds of the Shareholder Subordinated Debt to the repayment of the outstanding Loans.

• Notwithstanding anything to contrary set forth in the Agreement, or in any Subordination Agreement to which the Companies and the Purchaser are parties, the Purchaser hereby consents and agrees to, and hereby authorizes the Companies to, pay or redeem in full the Junior Subordinated Notes and the Shareholder Subordinated Debt out of the proceeds of the Credit Facility, as amended this date, and the Senior Subordinated Notes.

More Definitions of Shareholder Subordinated Debt

Shareholder Subordinated Debt means all Subordinated Debt of HCC under the Shareholder Subordinated Loan Agreement."

Shareholder Subordinated Debt means all indebtedness of Borrower to its shareholders, now existing or hereafter to occur.

Shareholder Subordinated Debt means the $465,000 principal amount remaining on the debt to Xxxxxxx X. Xxxxxxx evidenced by a Promissory Note, accruing interest at 12% per annum, payable monthly, with the principal amount payable on demand.

Shareholder Subordinated Debt means unsecured loans to the Borrower Representative by any holder of its Equity Interests that is subject to a Subordination Agreement in form and substance reasonably satisfactory to the Lender.

Shareholder Subordinated Debt means that certain subordinated indebtedness outstanding of approximately $160,000 owing to various of the Company's shareholders by the Company.

Shareholder Subordinated Debt means the Indebtedness of the Company evidenced by (i) that certain Convertible Subordinated Promissory Note dated August 23, 2002, made by the Company in favor of Les Domaines Bxxxx xx Xxxxxxxxxx (Lafite) ("DBR"), in the original principal amount of $8,250,000 and (ii) that certain Convertible Subordinated Promissory Note dated August 23, 2002, made by the Company in favor of SFI Intermediate Limited ("SFI"), in the original principal amount of $2,750,000, which convertible subordinated promissory notes were issued by the Company pursuant to that certain Convertible Note Purchase Agreement dated as of August 23, 2002, among the Company, DBR and SFI, and the proceeds of which shall be used by the Company to complete the Winery Acquisition and for capital expenditures permitted under this Agreement."

Shareholder Subordinated Debt means the Indebtedness of the Borrower evidenced by (i) that certain Convertible Subordinated Promissory Note dated August 27, 2002, made by the Borrower in favor of Les Domaines Bxxxx xx Xxxxxxxxxx (Lafite) (“DBR”), in the original principal amount of $8,250,000 and (ii) that certain Convertible Subordinated Promissory Note dated August 27, 2002, made by the Borrower in favor of SFI Intermediate Limited (“SFI”), in the original principal amount of $2,750,000, which convertible subordinated promissory notes were issued by the Borrower pursuant to that certain Convertible Note Purchase Agreement dated as of August 27, 2002, among the Borrower, DBR and SFI.