Specified Subordinated Indebtedness means Subordinated Indebtedness (i) the principal of which by its terms is not required to be repaid, in whole or in part, before six months after the Term Loan Maturity Date and (ii) which is subordinated in right of payment to the Finance Obligations pursuant to payment and subordination provisions reasonably satisfactory in form and substance to the Administrative Agent.
Specified Subordinated Indebtedness of a Person means, at any time, without duplication, any Indebtedness (whether outstanding on the Amendment Effective Date or thereafter incurred) which an Agency assigns whole or partial Equity Credit in accordance with the applicable rating standards and criteria of the applicable Agency as in effect at the time of issuance of such Indebtedness; provided, if following the date of issuance of any such Indebtedness Parent receives confirmation from any Agency that, due to any change in the interpretation of such rating standards and criteria occurring or becoming effective after the date of issuance of such Indebtedness, the Indebtedness will no longer be eligible for any Equity Credit, such Indebtedness shall be deemed to be “Specified Subordinated Indebtedness” hereunder until the date that is one year following Parent’s receipt of such Agency confirmation.”
Specified Subordinated Indebtedness means Indebtedness in the aggregate original principal amount not to exceed $200,000 issued by the Company in favor of the Specified Subordinated Lenders which is expressly subordinated in right of payment to the prior payment in full of the Obligations and which is in form and on terms approved in writing by Agent and is at all times subject to the Kohlberg Intercreditor Agreement.
Examples of Specified Subordinated Indebtedness in a sentence
The Specified Subordinated Indebtedness shall have been registered as qualified under the applicable federal or state securities laws or shall be exempt therefrom.
The Borrower shall have issued Subordinated Indebtedness in an aggregate principal amount of $50,000,000 (the "SPECIFIED SUBORDINATED INDEBTEDNESS") and the Borrower shall have delivered to the Agent complete and correct copies of all documents, instruments and other items executed or delivered in connection with the issuance of the Specified Subordinated Indebtedness, all of which shall be satisfactory in form and substance to Agent.
Payments of regularly scheduled interest on the Specified Subordinated Indebtedness shall be permitted in accordance with the subordination provisions applicable thereto as in effect as of the Closing Date.
In addition, all opinions delivered in connection with the Specified Subordinated Indebtedness shall be addressed to Agent and Lenders or accompanied by a written authorization from the Person delivering such opinion stating that Agent and Lenders may rely on such document as though it were addressed to them.
More Definitions of Specified Subordinated Indebtedness
Specified Subordinated Indebtedness of a Person means, at any time, without duplication, any Indebtedness (whether outstanding on the Signing Date or thereafter incurred) which an Agency assigns whole or partial Equity Credit in accordance with the applicable rating standards and criteria of the applicable Agency as in effect at the time of issuance of such Indebtedness; provided, if following the date of issuance of any such Indebtedness Parent receives confirmation from any Agency that, due to any change in the interpretation of such rating standards and criteria occurring or becoming effective after the date of issuance of such Indebtedness, the Indebtedness will no longer be eligible for any Equity Credit, such Indebtedness shall be deemed to be “Specified Subordinated Indebtedness” hereunder until the date that is one year following Parent’s receipt of such Agency confirmation.
Specified Subordinated Indebtedness means the floating rate secured promissory notes to be issued by Parent in the aggregate principal amount of $20,000,000 on terms reasonably acceptable to Agent and subject to documentation reasonably acceptable to Agent.
Specified Subordinated Indebtedness means any unsecured Indebtedness (and any Permitted Refinancing Indebtedness in respect thereof) that is subordinated in right of payment to the Secured Obligations on terms satisfactory to the Administrative Agent; provided that such Indebtedness (a) does not require any cash payments of principal, interest or other amounts prior to the date that is 180 days after the Maturity Date unless, after giving effect to any such cash payment, the Payment Conditions are satisfied, (b) does not have any covenants or events of default that are more restrictive or onerous than those contained in the Loan Documents and (c) has a stated maturity date that is no earlier than 180 days after the Maturity Date.
Specified Subordinated Indebtedness. Indebtedness of DW Animation which is evidenced by a promissory note substantially identical to Exhibit E.
Specified Subordinated Indebtedness means Indebtedness of any Person, the terms of which prohibit the holder or any representative of the holder from exercising any legal remedies or other creditor's rights (including without limitation the filing of a petition in respect of such Person under the U.S. Bankruptcy Code, 11 U.S.C. 101 et seq.) thereunder until all obligations (contingent or otherwise) of such Person to Borrower under all Leases, Mortgage Interest Agreements and Credit Support Agreements to which that Person is a party have been indefeasibly satisfied in full.
Specified Subordinated Indebtedness means Indebtedness in an aggregate initial principal amount of C$100,000,000 incurred by the Borrower pursuant to the Specified Subordinated Credit Agreement.
Specified Subordinated Indebtedness means (a) the floating rate secured promissory notes issued by Parent in the aggregate principal amount of not more than (i) $21,555,754 as of the date hereof (it being agreed that any such amount other than with respect to the Holdover Notes shall be retired on the Exchange Closing Date) and (ii) $5,141,363 of Holdover Notes following the Exchange Closing Date and the occurrence of the Cash Note Payment and the issuance of the Exchange Notes, in each case issued pursuant to the Existing Indenture, and (b) the Exchange Notes, in an aggregate principal amount of not more than (i) $8,204,000 issued on the Exchange Closing Date plus (ii) any additional amounts that may be issued under any indenture in exchange for the Holdover Notes, if any, or in connection with Holdover Note Payments, in each case issued on terms reasonably acceptable to Working Capital Agent and subject to documentation reasonably acceptable to Working Capital Agent.