Subordinated Debt Payments definition

Subordinated Debt Payments means and include all cash actually expended to make payments of principal and interest on the Subordinated Note.

Subordinated Debt Payments has the meaning set forth in Section 7(b).

Subordinated Debt Payments means and include all cash actually expended by the Borrower and its Subsidiaries to make payments of (x) principal and interest on any Subordinated Debt (y) all fees, commissions and charges with respect to the Subordinated Debt.

Examples of Subordinated Debt Payments in a sentence

• Notwithstanding the terms of the Subordinated Debt Documents, Company hereby agrees that it may not make, and Subordinated Creditor hereby agrees that it will not accept, any Distribution with respect to the Subordinated Debt until the Senior Debt is Paid in Full, other than Permitted Subordinated Debt Payments.

• So long as no Event of Default has occurred and is continuing, each Debtor Obligor may make, and each Creditor Obligor shall be entitled to accept and receive Subordinated Debt Payments expressly allowed, if any, under the Credit Agreement.

• In the event that, notwithstanding the provisions of Sections 3, 4, and 5, any Subordinated Debt Payments shall be received in contravention of such Sections 3, 4, and 5 by any Obligor before all Senior Debt is Paid in Full, such Subordinated Debt Payments shall be held in trust for the benefit of the Agent and shall promptly be paid over or delivered to the Agent for application to the Payment in Full of all Senior Debt, to the extent necessary to give effect to such Sections 3, 4, and 5.

• Until such time as this Agreement is terminated in accordance with Section 30 below, the Subordinated Debt (including all Subordinated Debt Payments) shall be subject, subordinate and junior, in right of payment and exercise of remedies, to the extent and in the manner set forth herein, to the prior payment in full in cash of the Senior Debt.

• For the avoidance of doubt, once such Event of Default is no longer continuing, and so long as no other Event of Default has occurred and is continuing, any Debtor Obligor may make and any Creditor Obligor may accept or receive any Subordinated Debt Payment, including Subordinated Debt Payments scheduled for the period of time when such Event of Default existed to the extent such Subordinated Debt Payments are permitted to be made under the Credit Agreement.

More Definitions of Subordinated Debt Payments

Subordinated Debt Payments 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 for or on account of the Subordinated Debt (excluding distribution of Permitted Junior Securities).

Subordinated Debt Payments means and include all cash actually expended to make payments of principal and interest on the Junior Subordinated Debentures, the Axxess Subordinated Notes, Axxess Long Term Subordinated Note, SunSource Long Term Subordinated Guaranty and the SunSource Subordinated Guaranties.

Subordinated Debt Payments. (except as set forth in clause (vii) below and except that it is understood that payments of regularly scheduled interest and principal shall be permitted); provided that:

Subordinated Debt Payments. Any paydown of subordinated debt principal requires prior written PCA approval. Exchanges of subordinated debt (replacing a like amount of existing subordinated debt with new subordinated debt) can occur without prior approval. CAPITAL WITHDRAWALS: No capital withdrawals are permitted without prior written approval from PCA. CAPITAL INJECTIONS: Total equity and subordinated debt injections of $1,200,000 will occur by 9/1/96. Of this amount, $1,100,000 will be injected by 7/31/96. It is understood that $200,000 of the $1,200,000 will be used to replace existing subordinated debt of $200,000. DOCUMENTATION OF SUBORDINATED DEBT AND EQUITY TRANSACTIONS: Documentation relating to new subordinated debt will be submitted to PCA with each monthly report. Documentation of equity injections will also be submitted with each monthly report.

Subordinated Debt Payments. Borrower makes any payment on account of indebtedness which has now or hereafter been subordinated to the Obligations, except to the extent such payment is allowed under any subordination agreement entered into with BACC;

Subordinated Debt Payments. No Borrower shall make any payment in contravention of the terms and conditions of the Subordination Agreements.

Subordinated Debt Payments all cash actually expended to make payments of principal and interest with respect to (a) the Notes and (b) other Debt of the Company and its Subsidiaries which by its terms is subordinated in right of payment to other Debt of the Company and which is outstanding in compliance with section 10.2.