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 Parent Guarantor by any direct or indirect parent holding company of the Parent Guarantor (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:

Examples of Shareholder Subordinated Debt in a sentence

• If the cure right is exercised for the fixed charge service cover, the amount received as additional equity and/or Subordinated Shareholder Debt will, for the purposes of Cashflow be counted in each of the three Quarterly Periods following the Quarterly Period in which the additional equity and/or Shareholder Subordinated Debt was received.

• 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 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.

• Subsection 8.11 of the Credit Agreement is hereby amended by inserting at the beginning thereof the words "(i) Make any optional payment or prepayment on or redemption of any portion of the Shareholder Subordinated Debt or (ii) with respect to any Indebtedness other than the Shareholder Subordinated Debt,".

• The Agent, with the consent of the Required Banks, hereby consents to HCC entering into the Shareholder Subordinated Loan Agreement in the form attached hereto as Exhibit B and incurring Shareholder Subordinated Debt thereunder.

More Definitions of Shareholder Subordinated Debt

Shareholder Subordinated Debt means all Subordinated Debt of the 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 Indebtedness of the Company that satisfies the following criteria: (a) such Indebtedness is of a type described in clause (a) of the definition of Indebtedness in this Section; (b) such Indebtedness matures not earlier than the Maturity Date; (c) such Indebtedness is owing to shareholders of the Company; and (d) the Company and the Principal Shareholders or other shareholders of the Company to whom such Indebtedness is owed have executed and delivered a subordination agreement in favor of the Administrative Agent, the Lenders and the Noteholders in form and substance satisfactory to Required Lenders and the Majority Noteholders or any similar term, as defined in each Noteholder Document.

Shareholder Subordinated Debt means the indebtedness of the Borrower to Xxxxxx X. Xxxxx, which is evidenced by the Shareholder Note.

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.

Shareholder Subordinated Debt means the $30,000,000 of unsecured Subordinated Debt to be provided to the Borrower by certain shareholders of the Borrower on or before July 30, 1999 in accordance with, and subject to all of the terms and conditions contained in, the Shareholder Subordinated Debt Commitment Letter and the Shareholder Subordinated Debt Notes.

Shareholder Subordinated Debt means the separate Subordinated Promissory Notes in the aggregate original principal amount of $3,000,000 and bearing interest at fifteen percent (15%) per annum, with no scheduled cash interest or principal payments due until October 1, 2001, issued by Unicco to each of the shareholders pursuant to Section 2.03(a)(iii).