SVB Indebtedness definition

SVB Indebtedness. The term "SVB Indebtedness" means Indebtedness of the Company or any Subsidiary incurred at any time pursuant to that certain Amended and Restated Loan and Security Agreement, dated as of December 29, 2003, between Silicon Valley Bank, a California chartered bank and the Company, as amended from time to time, and documents related thereto.
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SVB Indebtedness means Indebtedness of Borrower in favor of SVB (i) in connection with (x) revolving Advances (as defined in the SVB Loan Agreement) and (y) Borrower’s Bank Services (as defined in the SVB Subordination Agreement) with SVB (which Bank Services, whether provided under the SVB Loan Agreement or otherwise, shall not exceed $2,000,000 at any time), in a total aggregate amount with respect to this clause (i) not to exceed $17,000,000; provided that such $17,000,000 amount may increase to up to $30,000,000, inclusive of Borrower’s Bank Services (provided that Bank Services shall continue to not exceed $2,000,000), if (A) the formulas and definitions used to determine such revolving Advances and (B) other general terms of the SVB Loan Agreement are unchanged from those existing as of the Closing Date; and (ii) in an aggregate principal amount not to exceed $1,400,000 in connection with Equipment Advances (as defined in the SVB Loan Agreement), which amount shall be reduced by the amount of any principal payments with respect to each Equipment Advance (as defined in the SVB Loan Agreement).
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SVB Indebtedness means any Debt of Borrower (in an amount not to exceed $2,000,000) owing to Silicon Valley Bank, pursuant to the SVB Loan Documents.
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Examples of SVB Indebtedness in a sentence

  • Each Lender hereby authorizes Agent to issue blockages notices in connection with the SVB Indebtedness and the Intercreditor Agreement at the direction of Required Lenders (it being agreed and understood that Agent will not act unilaterally to issue such blockage notices).

  • Any subordination provision in any document or instrument governing the SVB Indebtedness or any subordination provision in the Intercreditor Agreement, or any subordination provision in any guaranty by any Loan Party of the SVB Indebtedness, shall cease to be in full force and effect other than as a result of any payment of the SVB Indebtedness permitted hereunder, or any Loan Party shall contest in any manner the validity, binding nature or enforceability of any such provision.

  • There shall not be any Obligations (other than those under the SVB Indebtedness or an Equivalent Credit Line permitted pursuant to Section 7.1(b) hereof or as otherwise set forth in the Schedules to this Agreement) of any nature with respect to any Loan Party which could reasonably be likely to have a Material Adverse Effect.

  • A portion of the proceeds of the initial Credit Extension shall be used on the Effective Date to repay in full the Existing SVB Indebtedness.

  • All outstanding SVB Indebtedness shall have been paid in full (by the Company or Parent, as the case may be), Silicon Valley Bank shall have delivered executed payoff letters, guaranty termination and release relating to the guaranty of the SVB Indebtedness by Kinderhook Capital Fund I, L.P., and UCC termination statements regarding the SVB Indebtedness.

  • No Loan Party nor any Subsidiary shall pay, prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, any Indebtedness other than (i) with respect to any Convertible Note Debt and (ii) the Existing SVB Indebtedness which is being paid from the proceeds of the Closing Date Notes.

  • She described their conversations as "above-average" and "intelligent." The magistrate judge found, and Santiago's attorney confirmed, that Santiago was competent to enter the plea.Taking into consideration the exchange at the change of plea hearing and the language of the waiver itself, it is apparent that Santiago's relinquishing of his appellate rights was knowing and voluntary.

  • The Company shall have delivered to Parent a customary pay off letter with respect to any outstanding SVB Indebtedness and UCC-3 termination statement.

  • The Statement of Specified Liabilities shall include wire instructions for each payment of Third Party Expenses, each Change in Control Payment, and the SVB Indebtedness (the “Repaid Indebtedness”).

  • Borrower shall use the proceeds of the Credit Extensions solely as working capital and to fund its general business requirements and not for personal, family, household or agricultural purposes; provided, however, that a portion of the proceeds of the Term Loans shall be used to repay the Existing Oxford and SVB Indebtedness in full.


More Definitions of SVB Indebtedness

SVB Indebtedness means all Indebtedness or other obligations of the Seller and its Subsidiaries outstanding under the SVB Loan Documents.
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SVB Indebtedness means any and all indebtedness and other obligations pursuant to the SVB Loan Agreement of a nature that would constitute Closing Indebtedness hereunder.
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SVB Indebtedness means all amounts owed to Silicon Valley Bank pursuant to (i) the Loan and Security Agreement, dated as of March 3, 2004, as amended, by and between the Company and Silicon Valley Bank and (ii) the Loan and Security Agreement, dated as of June 27, 2006, as amended, by and between the Company and Silicon Valley Bank.
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SVB Indebtedness means the Loan Parties’ secured credit facility with Silicon Valley Bank as of the Closing Date, in the original principal amount of $20,000,000 and the current outstanding principal amount of $1,666,666.74, due to mature on December 1, 2023. “Swap Obligations” shall mean with respect to any Guarantor any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act. “Synovus Bank Minimum Liquidity Covenant” shall mean the Loan Parties’ obligation to maintain a balance in cash of no less than One Hundred Million and No/100 Dollars ($100,000,000.00) (or such lesser amount as the Administrative Agent may agree in its sole discretion) in the Collateral Account numbered . “Synthetic Lease” shall mean a lease transaction under which the parties intend that (i) the lease will be treated as an “operating lease” by the lessee pursuant to Accounting Standards Codification Sections 840-10 and 840-20 and (ii) the lessee will be entitled to various tax and other benefits ordinarily available to owners (as opposed to lessees) of like property. “Synthetic Lease Obligations” shall mean, with respect to any Person, the sum of (i) all remaining rental obligations of such Person as lessee under Synthetic Leases which are attributable to principal and, without duplication, (ii) all rental and purchase price payment obligations of such Person under such Synthetic Leases assuming such Person exercises the option to purchase the lease property at the end of the lease term. “Taxes” shall mean any and all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax, or penalties applicable thereto. “Term SOFR” shall have the meaning set forth in the Note. “Term SOFR Administrator” shall have the meaning set forth in the Note. “Term SOFR Reference Rate” shall have the meaning set forth in the Note. “Threshold Amount” shall mean $[***]. “Trading with the Enemy Act” shall mean the Trading with the Enemy Act of the United States of America (50 U.S.C. App. §§ 1 et seq.).
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SVB Indebtedness means the PPP Loan and the LSA Indebtedness.
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SVB Indebtedness means all outstanding principal, accrued but unpaid interest and any other amounts due and payable on the Closing Date in connection with the repayment in full on the Closing Date of (i) that certain Loan and Security Agreement, dated as of May 7, 2008, by and between the Company and Silicon Valley Bank, as amended by that certain Amendment to Loan and Security Agreement, dated as of September 9, 2008, by and between the Company and Silicon Valley Bank and that certain Amendment to Loan and Security Agreement, dated as of April 23, 2010, by and between the Company and Silicon Valley Bank and (ii) that certain Loan and Security Agreement, dated as of August 13, 2004, by and between the Company and Silicon Valley Bank, as amended by that certain Assumption and Amendment to Loan and Security Agreement, dated as of April 2, 2007, by and between the Company and Silicon Valley Bank. SVB Indebtedness shall include without limitation the items listed on Schedule 2.9 as owed to Silicon Valley Bank as of the Closing Date.
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Related to SVB Indebtedness

  • Subordinate Indebtedness means all present and future indebtedness, obligations, and liabilities of Borrower to Subordinate Lender under or in connection with the Subordinate Loan or the Subordinate Loan Documents.

  • Acquisition Indebtedness any Indebtedness of the Company or any of its Subsidiaries that has been issued for the purpose of financing, in whole or in part, a Material Acquisition and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any pre-existing Indebtedness of the Company, any of its Subsidiaries or the person(s) or assets to be acquired); provided that (a) the release of the proceeds thereof to the Company and its Subsidiaries is contingent upon the consummation of such Material Acquisition and, pending such release, such proceeds are held in escrow (and, if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such acquisition is terminated prior to the consummation of such Material Acquisition or if such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Company and its Subsidiaries in respect of such Indebtedness) or (b) such Indebtedness contains a “special mandatory redemption” provision (or other similar provision) or otherwise permits such Indebtedness to be redeemed or prepaid if such Material Acquisition is not consummated by the date specified in the definitive documentation relating to such Indebtedness (and if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated in accordance with its terms prior to the consummation of such Material Acquisition or such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such Indebtedness is so redeemed or prepaid within 90 days of such termination or such specified date, as the case may be).

  • Subordinated Indebtedness means any Indebtedness of the Borrower or any Subsidiary the payment of which is subordinated in right to the Loan Obligations.

  • Company Indebtedness means all indebtedness of the Company (including without limitation, any loans, advances, letters of credit, bank overdrafts, capital lease obligations and all other indebtedness of any kind including interest, principal and fees).

  • Related Indebtedness means any and all indebtedness paid or payable by Borrower to Administrative Agent or any Lender pursuant to any Loan Document other than any Note.

  • Senior Unsecured Indebtedness means Indebtedness that is not subordinated to any other Indebtedness and is not secured or supported by a guarantee, letter of credit or other form of credit enhancement.

  • Unsecured Indebtedness means, with respect to any Person, all Indebtedness of such Person for borrowed money that does not constitute Secured Indebtedness.

  • Refinanced Indebtedness shall have the meaning provided in the definition of the term “Permitted Refinancing Indebtedness”.

  • Balloon Indebtedness means Long-Term Indebtedness, 25% or more of the original principal amount of which becomes due (either by maturity or mandatory redemption) during any consecutive twelve-month period, if such principal amount becoming due is not required to be amortized below such percentage by mandatory redemption or prepayment prior to such twelve-month period.

  • Indebtedness means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

  • Credit Facility Indebtedness means any and all amounts, whether outstanding on the Issue Date or thereafter Incurred, payable under or in respect of any Credit Facility, including without limitation principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company or any Restricted Subsidiary whether or not a claim for post-filing interest is allowed in such proceedings), fees, charges, expenses, reimbursement obligations, guarantees, other monetary obligations of any nature and all other amounts payable thereunder or in respect thereof.

  • Intercompany Indebtedness means Indebtedness of Company or any of their respective Subsidiaries which is owing to any member of such group.

  • Project Finance Indebtedness means any present or future indebtedness incurred to finance the ownership, acquisition, development and/or operation of an asset, whether or not an asset of a member of the Group:

  • Second Lien Indebtedness means the Indebtedness of the Loan Parties owing to the Second Lien Agent and the Second Lien Lenders under the Second Lien Credit Agreement, which Indebtedness is on terms and conditions reasonably acceptable to the Collateral Agent.

  • Applicable Indebtedness has the meaning specified in the definition of “Weighted Average Life to Maturity.”

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

  • Senior Secured Indebtedness means, as of any date of determination, the principal amount of any Indebtedness for borrowed money that is secured by a Lien.

  • Designated Indebtedness means any Indebtedness that has been designated by the Borrower at the time of the incurrence thereof as “Designated Indebtedness” for purposes of this Agreement in accordance with the requirements of Section 6.01.

  • Convertible Indebtedness means Indebtedness of the Parent that is convertible into common Equity Interests of the Parent (and cash in lieu of fractional shares) and/or cash (in an amount determined by reference to the price of such common Equity Interests).

  • Consolidated First Lien Indebtedness means Consolidated Total Indebtedness as of any date of determination that is secured by a Lien on any asset or property of the Borrower and its Restricted Subsidiaries, which Lien does not rank junior in priority to the Liens securing the Secured Obligations.

  • Permitted Secured Indebtedness any Secured Indebtedness that:

  • Permitted Unsecured Indebtedness means Indebtedness of Holdings or the Borrower (a) that is not (and any Guarantees thereof by Subsidiaries or Holdings are not) secured by any collateral (including the Collateral), (b) that does not mature earlier than the Latest Maturity Date then in effect, and has a weighted average life to maturity no shorter than the Class of Term Loans with the Latest Maturity Date in effect at the time of incurrence of such Indebtedness, (c) that does not provide for any amortization, mandatory prepayment, redemption or repurchase (other than upon a change of control, fundamental change, customary asset sale or event of loss mandatory offers to purchase and customary acceleration rights after an event of default and, for the avoidance of doubt, rights to convert or exchange in the case of convertible or exchangeable Indebtedness) prior to the date that is the Latest Maturity Date then in effect, (d) that shall not include any financial maintenance covenants and applicable negative covenants shall be incurrence-based and that shall contain covenants, events of default and other terms that, when taken as a whole (other than interest rates, rate floors, fees and optional prepayment or redemption terms) are not materially more restrictive to Holdings and its Subsidiaries than, those set forth in the Loan Documents; provided, that, a Financial Officer of Holdings shall have delivered a certificate to the Administrative Agent at least two (2) Business Days prior to the incurrence of such Indebtedness or the modification, refinancing, refunding, renewal or extension thereof (or such shorter period of time as may reasonably be agreed by the Administrative Agent), together with a summary of the material terms and conditions of such resulting Indebtedness, stating that Holdings has determined in good faith that such material terms and conditions satisfy the requirements set forth in this clause (d), which determination shall be conclusive, and (e) that is not guaranteed by any Person other than on an unsecured basis by Holdings and Subsidiaries that are Subsidiary Loan Parties.

  • Permitted Indebtedness means, without duplication, each of the following:

  • Permitted Financial Indebtedness means Financial Indebtedness:

  • First Lien Indebtedness means the Indebtedness under the First Lien Indebtedness Documents.