Subordinated Intercompany Loans definition

Subordinated Intercompany Loans means Subordinated Indebtedness of the Issuer, the Co-Issuer or any Guarantor borrowed from Parent or any of its Subsidiaries (other than the Issuer or any of its Subsidiaries); provided that (a) such Subordinated Indebtedness constitutes debt for money borrowed in cash and (b) as of the date of incurrence, the interest rate or yield of such Subordinated Indebtedness is no less favorable to the Issuer, the Co-Issuer or such Guarantor than current market rates for comparable indebtedness of the Issuer, the Co-Issuer or such Guarantor, as determined in the good faith judgment of the Issuer.
Sample 1Sample 2
Subordinated Intercompany Loans means Subordinated Indebtedness of the Company that, in accordance with its terms, is not required to be repaid (including, without limitation, with respect to any principal, premium, redemption amount or interest); and may not be declared due and payable by the lender, at any time prior to the Stated Maturity of the Notes, such that no cash payment is required to be made by the Company in respect of such Indebtedness (including, without limitation, in respect of interest) for so long as any Notes are outstanding.
Sample 1
Subordinated Intercompany Loans means Subordinated Indebtedness of the Company that, in accordance with its terms, is not required to be repaid (including, without limitation, with respect to any principal, premium, redemption amount or interest), and may not be declared due and payable by the lender, at any time prior to the Stated Maturity of the Notes, such that no cash payment is required to be made by the Company in respect of such Indebtedness (including, without limitation, in respect of interest) for so long as any Notes are outstanding.
Sample 1

Examples of Subordinated Intercompany Loans in a sentence

  • The ISA further provides that no payment or distribution may be made on Subordinated Intercompany Loans, and any payment that is received must be delivered to the holders of the Ship Group A Debt.

  • The Additional Party hereby agrees that the Subordinated Intercompany Loans and all payments of principal, interest and other amounts thereunder are, and shall continue to be, subject and subordinate in right of payment to the prior payment in full, in cash, of all Pari Passu Obligations to the extent and in the manner set forth in the Intercompany Subordination Agreement.

  • The Administrative Agent and the Banks hereby waive the requirement that intercompany loans and advances from a Borrower or a Subsidiary that is a Guarantor to a Non-U.S. Subsidiary and Subordinated Intercompany Loans be evidenced by promissory notes.

  • The Additional Party hereby agrees that the Subordinated Intercompany Loans and all payments of principal, interest and other amounts thereunder are, and shall continue to be, subject and subordinate in right of payment to the prior payment in full, in cash, of all Secured Obligations to the extent and in the manner set forth in the Intercompany Subordination Agreement.


More Definitions of Subordinated Intercompany Loans

Subordinated Intercompany Loans means Subordinated Indebtedness of the Issuer, the Co- Issuer or any Guarantor borrowed from Parent or any of its Subsidiaries (other than the Issuer or any of its Subsidiaries); provided that (a) such Subordinated Indebtedness constitutes debt for money borrowed in cash and(b) as of the date of incurrence, the interest rate or yield of such Subordinated Indebtedness is no less favorable to the Issuer, the Co-Issuer or such Guarantor than current market rates for comparable indebtedness of the Issuer, the Co-Issuer or such Guarantor, as determined in the good faith judgment of the Issuer.
Sample 1

Related to Subordinated Intercompany Loans

  • Subordinated Intercompany Note means the Intercompany Subordinated Note, dated as of the Agreement Date, by and among Holdings, the Borrower and each Restricted Subsidiary of Holdings from time to time party thereto.

  • Intercompany Loans shall have the meaning provided in Section 10.05(h).

  • Subordinated Intercompany Debt shall have the meaning assigned to such term in Section 6.01(e).

  • Intercompany Loan shall have the meaning provided in Section 8.05(g).

  • Intercompany Loan Agreement has the meaning set forth in the Purchase and Sale Agreement.

  • Permitted Intercompany Advances means loans made by (a) a Loan Party to another Loan Party, (b) a Subsidiary of a Borrower that is not a Loan Party to another Subsidiary of a Borrower that is not a Loan Party and (c) a Subsidiary of a Borrower that is not a Loan Party to a Loan Party, so long as the parties thereto are party to the Intercompany Subordination Agreement.

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.

  • Permitted Intercompany Investments means Investments made by (a) a Loan Party to or in another Loan Party, (b) a Subsidiary that is not a Loan Party to or in another Subsidiary that is not a Loan Party and (c) a Subsidiary that is not a Loan Party to or in a Loan Party, so long as, in the case of a loan or advance made pursuant to this clause (c), the parties thereto are party to the Intercompany Subordination Agreement.

  • Intercompany Indebtedness means Indebtedness of Company or any of its Subsidiaries which is owing to Company or any of its Subsidiaries.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • Intercompany Notes means, with respect to each Pledgor, all intercompany notes described in Schedule 11 to the Perfection Certificate and intercompany notes hereafter acquired by such Pledgor and all certificates, instruments or agreements evidencing such intercompany notes, and all assignments, amendments, restatements, supplements, extensions, renewals, replacements or modifications thereof to the extent permitted pursuant to the terms hereof.

  • Subordinated Loan Documents means at any time the agreements and other documents then governing the Subordinated Indebtedness.

  • Subordinated Indebtedness means any Indebtedness of the Borrower or any Subsidiary the payment of which is subordinated to payment of the obligations under the Loan Documents.

  • Subordinated Loan Agreement means the subordinated loan agreement dated on or about the Closing Date, as amended from time to time, and entered into by, amongst others, the Issuer, the Subordinated Lender and the Security Trustee, under which the Subordinated Lender will advance (or has advanced) the Subordinated Loan to the Issuer.

  • Subordinated Indebtedness Documents means any document, agreement or instrument evidencing any Subordinated Indebtedness or entered into in connection with any Subordinated Indebtedness.

  • Intercompany Note means a promissory note substantially in the form of Exhibit I.

  • Intercompany Advance Agreement The Intercompany Advance Agreement, dated as of September 11, 2009, between Ally Bank and Ally Auto, as amended, supplemented or modified from time to time.

  • Subordinated Note Documents means the indenture under which the Subordinated Notes were issued and all other instruments, agreements and other documents evidencing or governing the Subordinated Notes or providing for any Guarantee or other right in respect thereof.

  • Second Lien Notes has the meaning set forth in the recitals hereto.

  • Subordinated Lenders means the holders of Subordinated Debt.

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • Subordinated Debt Documents means any documents evidencing and/or securing Debt governed by a Subordination Agreement, all of which documents must be in form and substance acceptable to Agent in its sole discretion. As of the Closing Date, there are no Subordinated Debt Documents.

  • Second Lien Note Documents means the Second Lien Note Indenture, the Second Lien Notes, the Second Lien Security Documents and each other document, instrument or agreement relating to the issuance of the Second Lien Notes, as the same may be amended, restated, supplemented, waived and/or otherwise modified from time to time in accordance with the terms thereof, of this Agreement and of the Intercreditor Agreement.

  • Subordinated Debt is indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to Bank.

  • Subordinated Notes means the Initial Notes and the Exchange Notes and, more particularly, any Subordinated Note authenticated and delivered under this Indenture, including those Subordinated Notes issued or authenticated upon transfer, replacement or exchange.

  • Subordinated Lender means each Seller, in its capacity as subordinated lender pursuant to the relevant Subordinated Loan Agreement.