Specified Junior Debt definition

Specified Junior Debt means (A) Indebtedness under the Second Lien PIK Notes and the Second Lien Note Documents and (B) other Indebtedness incurred under Section 6.01(w).
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Specified Junior Debt means, collectively, the Senior Unsecured Notes, any Permitted Subordinated Indebtedness and any Permitted Refinancing of the foregoing.
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Specified Junior Debt has the meaning specified in Section 7.16.
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More Definitions of Specified Junior Debt

Specified Junior Debt means (a) loans, notes or other long-term Indebtedness that is junior to the Initial Facilities in right of payment or in right of security or that is unsecured; provided, that (i) the Additional Debt Requirements are satisfied and (ii)(x) if such Indebtedness is unsecured, at the Borrower’s option, either (I) the Total Leverage Ratio does not exceed a Total Leverage Ratio of 4.95:1.00, or (II) the Interest Coverage Ratio would not exceed 2.00:1.00 and (y) if such Indebtedness is secured by a Lien on the Collateral that is junior to the Lien securing the Initial Facilities, the Secured Leverage Ratio does not exceed 4.70:1.00; in each case, determined on a Pro Forma Basis as of the last day of the most recently ended Test Period as if any such Indebtedness had been outstanding on the last day of such Test Period for testing compliance therewith (and assuming the full utilization of any unfunded revolving commitment provided simultaneously thereunder and any subsequent funding of the term debt borrowed or issued thereunder); and (b) any Permitted Refinancing Debt in respect of clause (a) hereof.
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Specified Junior Debt means (i) loans, notes or other long-term Indebtedness that is junior to the Initial Facilities in right of payment or in right of security or that is unsecured; provided that (A) the Additional Debt Requirements are satisfied, (B) (1) if such Indebtedness is secured by a Lien, the Secured Leverage Ratio would not exceed 5.25:1.00 determined on a Pro Forma Basis as of the last day of the most recently ended Test Period as if any such Indebtedness had been outstanding on the last day of such Test Period for testing compliance therewith (and assuming the full utilization of any unfunded revolving commitment provided simultaneously thereunder and any subsequent funding of the term debt borrowed or issued thereunder) and (2) if such Indebtedness is unsecured, the Total Leverage Ratio would not exceed 5.25:1.00 determined on a Pro Forma Basis as of the last day of the most recently ended Test Period as if any such Indebtedness had been outstanding on the last day of such Test Period for testing compliance therewith (and assuming the full utilization of any unfunded revolving commitment provided simultaneously thereunder and any subsequent funding of the term debt borrowed or issued thereunder), (C) the Borrower shall be in compliance with the financial covenant set forth in Section 7.1, determined on a Pro Forma Basis as of the last day of the most recently ended Test Period as if any such Specified Junior Debt had been outstanding on the last day of such Test Period for testing compliance therewith (assuming the full utilization of any unfunded revolving commitment provided simultaneously thereunder and any subsequent funding of the term debt borrowed or issued thereunder) and (D) the final maturity date thereof shall not be earlier than 91 days after the Latest Term Loan Maturity Date at the time of incurrence or issuance thereof; and (ii) any Indebtedness under the Second Lien Facility and (iii) any Permitted Refinancing Debt in respect thereofof clauses (i) and (ii) hereof.
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Specified Junior Debt means (i) loans, notes or other long-term Indebtedness that is junior to the Initial Facilities in right of payment or in right of security or that is unsecured; provided that (A) the Additional Debt Requirements are satisfied, (B) the Total Leverage Ratio would not exceed 5.25:1.00 determined on a Pro Forma Basis as of the last day of the most recently ended Test Period as if any such Indebtedness had been outstanding on the last day of such Test Period for testing compliance therewith (and assuming the full utilization of any unfunded revolving commitment provided simultaneously thereunder and any subsequent funding of the term debt borrowed or issued thereunder), (C) the Borrower shall be in compliance with the financial covenant set forth in Section 7.1, determined on a Pro Forma Basis as of the last day of the most recently ended Test Period as if any such Specified Junior Debt had been outstanding on the last day of such Test Period for testing compliance therewith (assuming the full utilization of any unfunded revolving commitment provided simultaneously thereunder and any subsequent funding of the term debt borrowed or issued thereunder) and (D) the final maturity date thereof shall not be earlier than 91 days after the Latest Term Loan Maturity Date at the time of incurrence or issuance thereof; and (ii) any Permitted Refinancing Debt in respect thereof.
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Related to Specified Junior Debt

  • Junior Debt means any Indebtedness in respect of Subordinated Indebtedness.

  • Junior Indebtedness means any indebtedness of any Mortgagor that is secured by a lien that is junior in right of payment to the lien of the Mortgage securing the related Mortgage Note.

  • Junior Lien Indebtedness means any Indebtedness of any Credit Party that is secured by Liens on Collateral that rank junior in priority to the Liens that secure the Obligations.

  • Guarantor Senior Indebtedness means the principal of (and premium, if any, on) and interest on (including interest accruing after the filing of a petition initiating any proceeding pursuant to any bankruptcy law, whether or not allowable as a claim in such proceeding) and other amounts due on or in connection with any Indebtedness of any Guarantor, whether outstanding on the date hereof or hereafter created, incurred or assumed, unless, in the case of any particular Indebtedness, the instrument creating or evidencing the same or pursuant to which the same is outstanding expressly provides that such Indebtedness shall not be pari passu with the Guarantees. Without limiting the generality of the foregoing, "Guarantor Senior Indebtedness" shall include the principal of (and premium, if any, on) and interest (including interest accruing after the filing of a petition initiating any proceeding pursuant to any bankruptcy law, whether or not allowable as a claim in such proceeding) on all obligations of every nature of any Guarantor to the Lenders under the New Bank Credit Agreement and to the Holders of the Securities, and any interest rate or foreign exchange agreement now existing or hereinafter entered into by any Guarantor with any Lender, including, without limitation, all fees, expenses (including fees and expenses of counsel), claims, charges and indemnity obligations. Notwithstanding the foregoing, "Guarantor Senior Indebtedness" shall not include (i) Indebtedness evidenced by the guarantees of the Senior Subordinated Notes, (ii) Indebtedness of any Guarantor that is expressly subordinated in right of payment to any of such Guarantor's Guarantees, (iii) Indebtedness of any Guarantor that by operation of law is subordinate to any general unsecured obligations of such Guarantor, (iv) Indebtedness represented by Redeemable Capital Stock, (v) Indebtedness of any Guarantor to ADT Limited or any of its Subsidiaries, (vi) any liability for federal, state, local or other taxes owed or owing by any Guarantor and (vii) trade payables owed or owing by any Guarantor.

  • 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.