Subsidiary Debt definition

Subsidiary Debt means all unsecured Indebtedness of which a Restricted Subsidiary is the primary obligor.

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Subsidiary Debt means, collectively, the Subsidiary Unsecured Notes, Rural Utilities Service Loan Contracts, and Verizon Secured Notes.

Subsidiary Debt means, with respect to the Company’s consolidated subsidiaries, at any time and without duplication, the aggregate outstanding principal amount of all Indebtedness of such consolidated subsidiaries at such time described in clauses (a), (b), (c), (g) and (h) of the definition of the term “Indebtedness”, other than:

Examples of Subsidiary Debt in a sentence

• The execution, delivery of, and the performance of this Agreement by each Borrower are permitted under the terms of the Existing Subsidiary Debt.

• Any Subsidiary Debt incurred prior to or outstanding as of the Suspension Date shall be deemed to have been incurred in compliance with Section 4.08.

• There are not any bonds, debentures, notes or other indebtedness of any such Contributed Subsidiary having the right to vote (or convertible into, or exchangeable for, securities having the right to vote) on any matters on which holders of capital stock or other ownership interests of such Contributed Subsidiary may vote ("Voting Subsidiary Debt").

• Create, incur, assume or permit to exist any Consolidated Subsidiary Debt, other than Consolidated Subsidiary Debt in an aggregate principal amount that does not exceed, at any one time outstanding, the greater of (i) $1,500,000,000 and (ii) 15.0% of the Consolidated Net Worth of the Company at such time.

• The Company will not at any time permit the sum of (i) Total Restricted Subsidiary Debt at such time plus, without duplication, (ii) the aggregate amount of all Debt and other obligations outstanding at such time secured by Liens permitted by clause (v), clause (vi) and clause (vii) of Section 6.6(a) to exceed (A) on or before July 31, 1997, fifteen percent (15%) of Consolidated Tangible Net Worth or (B) on or after August 1, 1997, twenty percent (20%) of Consolidated Tangible Net Worth.

More Definitions of Subsidiary Debt

Subsidiary Debt means all unsecured Indebtedness of which a Subsidiary is the primary obligor.

Subsidiary Debt means any Funded Debt which is owed by a Designated Subsidiary (other than a Designated Subsidiary Guarantor) to any Person other than the Covenantor, a Borrower or another Designated Subsidiary, other than Funded Debt (i) which is secured by a Permitted Lien and (ii) of a Designated Subsidiary acquired by a Borrower or the Covenantor provided that such Funded Debt existed at the date of any such acquisition and was not incurred in contemplation of such acquisition.

Subsidiary Debt has the meaning specified in Section 7.01.

Subsidiary Debt means, in respect of any Subsidiary of the Borrower, all Indebtedness (other than (a) net obligations of such Subsidiary under any Swap Contract with a tenor of less than eighteen months, (b) Guarantees by such Subsidiary of the obligations of other Subsidiaries or the obligations of the Borrower, in either case, of the kind described in the preceding clause (a) and (c) unfunded, uncommitted lines of credit) of such Subsidiary.

Subsidiary Debt means all Debt of which the direct obligor is a subsidiary of the Company.

Subsidiary Debt has the meaning specified in Section 1011(a).

Subsidiary Debt without duplication, as of the date of any determination thereof, the sum of all Indebtedness of Subsidiaries (including all Guarantee Obligations of Indebtedness of the Borrower) but excluding (i) Indebtedness owing to the Borrower or any wholly-owned Subsidiary, (ii) Guarantee Obligations (other than Guarantee Obligations of Indebtedness of the Borrower) incurred in the ordinary course of business by Peoples, Peoples Gas or any other Significant Subsidiary, and (iii) surety bonds (and similar arrangements) incurred in the ordinary course of business by Peoples, Peoples Gas or any other Significant Subsidiary.