Subordinated Debt Payment means any payment or distribution by or on behalf of the Obligors, directly or indirectly, of assets of the Obligors of any kind or character, whether in cash, property, or securities, including on account of the purchase, redemption, or other acquisition of Subordinated Debt, as a result of any collection, sale, or other disposition of collateral, or by setoff, exchange, or in any other manner, for or on account of the Subordinated Debt.
Subordinated Debt Payment means any payment or distribution by or on behalf of the Borrower, directly or indirectly, of assets of the Borrower of any kind or character, whether in cash, property or securities, including on account of the purchase, redemption or other acquisition of Subordinated Debt, as a result of any collection, sale or other disposition of collateral, or by setoff, exchange or in any other manner, for or on account of the Subordinated Debt.
Subordinated Debt Payment means any payment or distribution by or on behalf of the Loan Parties, directly or indirectly, of assets of the Loan Parties of any kind or character, whether in cash, property, or securities, for or on account of the Subordinated Debt, including on account of the purchase, redemption, or other acquisition of Subordinated Debt, as a result of an collection, sale, or other disposition of collateral, or by setoff, exchange, or in any other manner.
Examples of Subordinated Debt Payment in a sentence
Upon the occurrence and during the continuance of any Event of Default with respect to any Senior Debt and the Subordinated Creditor for Subordinated Debt shall have received written notice from the Agent, each Subordinated Creditor shall not make, and each other Subordinated Creditor shall not accept or receive, any Subordinated Debt Payment.
The Senior Agent acknowledges that payments made to satisfy the condition precedent in Section 3d of the Second Lien Amendment are permitted under the Subordination Agreement and constitute a Permitted Subordinated Debt Payment.
Upon the occurrence of any Event of Default, and until such Event of Default is cured or waived, no Obligor shall make, and no Obligor shall accept or receive, any Subordinated Debt Payment.
More Definitions of Subordinated Debt Payment
Subordinated Debt Payment means any payment or distribution by or on behalf of the Company, directly or indirectly, of assets of the Company of any kind or character, whether in cash, property or securities, for or on account of the Subordinated Indebtedness.
Subordinated Debt Payment means any payment or distribution by or on behalf of Canadian OpCo, directly or indirectly, of assets of Canadian OpCo or any Affiliate of Canadian OpCo of any kind or character, whether in cash, property or securities, including on account of the purchase, redemption or other acquisition of Subordinated Indebtedness, or by setoff, exchange or in any other manner, for or on account of the Subordinated Indebtedness.
Subordinated Debt Payment shall have the meaning assigned to such term in Section 6.10(a).
Subordinated Debt Payment has the meaning assigned to such term in the definition of “Restricted Payment”.
Subordinated Debt Payment means any direct or indirect payment, prepayment, reduction or discharge of any of the Subordinated Debt, whether such payment, prepayment, reduction or discharge is effected by Debtor, any guarantor of Subordinated Debt, any trustee or receiver for the estate or property of any of the foregoing or any other Person through direct payment, redemption, purchase, refinancing, setoff, cancellation, issuance of securities, any action on the Subordinated Debt Instrument, transfer of assets or distribution to creditors in any Debtor Relief Proceeding or otherwise.
Subordinated Debt Payment means and includes all cash actually expended by any Loan Party or any of its Subsidiaries to make payments of principal or interest on any Subordinated Debt and of any fees, commissions or charges with respect to any Subordinated Debt.
Subordinated Debt Payment has the meaning given to such term in Section 3.2(a) hereof. EXECUTED as of the date first written above. TATHXX XXXSHORE, INC. By: ----------------------------------------- Name: Dennxx Xxxxxxx Title: Senior Vice President and Secretary