Subordinated Funded Debt definition

Subordinated Funded Debt means any Funded Debt of the Company that is subordinated in right of payment or security to Funded Debt evidenced by the Notes, in each case, upon written terms and conditions reasonably satisfactory to the Required Holders.

Subordinated Funded Debt means any of the Company's unsecured Funded Debt that is expressly made subordinate and junior in rank and right of payment to the Existing Notes and the Notes in the event of any insolvency or bankruptcy proceedings, and any receivership, liquidation, reorganization or other similar proceedings relative to the Company or the Company's creditors, as such, or to the Company's property, or in the event of any proceedings for the Company's voluntary liquidation, dissolution or other winding up, whether or not involving insolvency or bankruptcy.

Subordinated Funded Debt means at any date all unsecured Funded Debt (i) no part of the principal of which is required to be paid (whether by way of mandatory sinking fund, mandatory redemption or otherwise) prior to the payment in full of the Loans hereunder and (ii) the payment of the principal of and interest on which, and any other obligations to the holder of such Debt, is subordinated to the prior payment in full of the Loans hereunder (including interest accruing after the date of commencement of any proceeding under any bankruptcy, insolvency, or similar law in which such Person is a debtor).

Examples of Subordinated Funded Debt in a sentence

• The Company will not issue any additional Funded Debt which is subordinate or junior in right of payment to any other Funded Debt of the Company other than Subordinated Funded Debt.

• On a Consolidated basis, maintain as of the end of each fiscal quarter the Consolidated Subordinated Funded Debt at a level equal to or less than One Hundred Fifty Percent (150%) of the Company's Consolidated Tangible Net Worth.

• The Company will not at any time permit Consolidated Subordinated Funded Debt to exceed one hundred fifty percent (150%) of Consolidated Tangible Net Worth at such time, provided that for purposes of this test, Consolidated Subordinated Funded Debt shall be calculated by including all Debt incurred by a Special Purpose Subsidiary, whether or not included therein under GAAP.

• On a Consolidated basis, maintain as of the end of each fiscal quarter the Consolidated Subordinated Funded Debt (excluding in the calculation thereof, for purposes of this Section 7.6, all Debt incurred by a Special Purpose Subsidiary, whether or not included therein under GAAP) at a level equal to or less than One Hundred Fifty Percent (150%) of the Company's Consolidated Tangible Net Worth.

• Measured as of the end of each fiscal quarter, a ratio of Total Liabilities less Subordinated Funded Debt to Tangible Net Worth EBITDA for the four (4) fiscal quarter period then-ended, of not more than 2.50(x) 4.25 to 1.00 commencing with the fiscal quarter ending June 30, 2022 through and including the fiscal quarter ending December 31, 2023 and (y) 4.00 to 1.00, as of the end of each fiscal quarter ending thereafter.

More Definitions of Subordinated Funded Debt

Subordinated Funded Debt means any unsecured Indebtedness of the Company that is expressly made subordinate and junior in rank and right of payment to the Securities of any Series and such other Indebtedness of the Company as may be specified or characterized in the instruments evidencing the Subordinated Funded Debt or the indenture or other similar instrument under which it is issued (which indenture or other instrument shall be binding on all holders of such Subordinated Funded Debt) (the Securities and any other Indebtedness of the Company to which the Subordinated Funded Debt is subordinate and junior being hereinafter in this paragraph called “Superior Debt”), by provisions not substantially more favorable to the holders of the Subordinated Funded Debt than the following:

Subordinated Funded Debt means the Notes, the March 1999 Subordinated Notes and any other unsecured Funded Debt that is subordinated in right of payment or security to the Debt of the Company substantially in the manner set forth in Section 13 or in such other manner as shall be satisfactory to the Required Holders.

Subordinated Funded Debt means any unsecured Indebtedness of the Company that is expressly made subordinate and junior in rank and right of payment to the Securities and such other Indebtedness of the Company as may be specified or characterized in the instruments evidencing the Subordinated Funded Debt or the indenture or other similar instrument under which it is issued (which indenture or other instrument shall be binding on all holders of such Subordinated Funded Debt) (the Securities and any other Indebtedness of the Company to which the Subordinated Funded Debt is subordinate and junior being hereinafter in this paragraph called “Superior Debt”), by provisions not substantially more favorable to the holders of the Subordinated Funded Debt than the following:

Subordinated Funded Debt means all unsecured Funded Debt of the Company which shall contain or have applicable thereto subordination provisions substantially in the form set forth in Exhibit G attached hereto providing for the subordination thereof to other Funded Debt of the Company, including, without limitation, the Notes.

Subordinated Funded Debt means any unsecured Funded Debt which is subordinate in right of payment and priority to the Indebtedness and which has an average life and final maturity extending beyond the average life and final maturity of the Indebtedness.

Subordinated Funded Debt in respect of any Person, shall mean, as of the date of any determination thereof, all unsecured Funded Debt of such Person which shall contain or have applicable thereto subordination provisions providing for the subordination thereof to other Funded Debt of such Person;

Subordinated Funded Debt means the sum of Convertible Subordinated Funded Debt plus Non-Convertible Subordinated Funded Debt.