System Indebtedness definition

System Indebtedness means collectively all Bonds and all Additional Obligations.
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System Indebtedness means collectively all Parity Bonds, all Parity Obligations, all Additional Bonds, all Additional Obligations, all Junior Lien Obligations and all Subordinate Lien Bonds which are payable out of, or secured by an interest in, the Revenues.
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System Indebtedness means collectively the Bonds and any Additional Obligations which are payable out of, or secured by an interest in, the Revenues.
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Examples of System Indebtedness in a sentence

  • In no event shall amounts on deposit in the Senior Subordinate Debt Service Reserve Fund be used to pay principal of, interest on or any other amounts due with respect to Other System Indebtedness.

  • In no event will moneys in any Subordinate Debt Service Reserve Account be available to pay Other System Indebtedness secured on a parity with Subordinate Bonds.

  • The Trustee shall mail to all owners of Bonds and the Fiduciaries for any Other System Indebtedness at their addresses as they appear on the registration books written notice of the occurrence of any Event of Default set forth in Section 8.01 within thirty (30) days after the Trustee shall have notice, pursuant to the provisions of Section 10.01 of this Agreement, that any such Event of Default shall have occurred.

  • In no event will moneys in any Senior Subordinate Debt Service Reserve Account be available to pay Other System Indebtedness secured on a parity with Senior Subordinate Bonds.

  • Authority Revenues consisting of grants or appropriations received by the Authority for the purpose of paying of principal of and interest on Bonds or Other System Indebtedness shall be deposited in the applicable debt service fund.

  • In no event will moneys in any Senior Debt Service Reserve Account be available to pay Other System Indebtedness secured on a parity with Senior Bonds.

  • Bubble size and oscillation wavelength decreased with increasing pressure.The effect of subcooling can be only outlined, since just one value of subcooling was tested: an increase in heat transfer coefficient in subcooled conditions was measured, and the difference was greater at lower superheats and higher applied voltages.

  • The Obligations of the Borrower under this Agreement, the Notes and the other Loan Documents shall constitute and are hereby designated by the Borrower as Other System Indebtedness and Senior Indebtedness under the Trust Agreement.

  • The Obligations of the Borrower under this Agreement, the Notes and the other Loan Documents when executed and delivered will be validly executed and outstanding obligations of the Borrower, entitled to the benefits of the Trust Agreement as Senior Indebtedness and Other System Indebtedness and payable from the sources therein specified for the Senior Indebtedness.

  • The Obligations of the Borrower under this Agreement, the Notes and the other Loan Documents constitute Senior Indebtedness and Other System Indebtedness under and as defined under the Trust Agreement entitled to the benefits and security of the Trust Agreement.


More Definitions of System Indebtedness

System Indebtedness means collectively all Bonds and Additional Obligations, which are payable out of, or secured by an interest in, the Gross Revenues, except Permitted Loans.
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System Indebtedness means collectively the Bonds and any Additional Obligations which are payable out of, or secured by an interest in, the income and Gross Revenues derived from the operation of the System.
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System Indebtedness means the aggregate amount of $495,000 of General Obligation Refunding Bonds, Series 1992 dated November 15, 1992 and previously issued by the Township to finance a portion of the System, which bonds are scheduled to mature on June 1 in each of the years 1998 and 1999 in the amount of $110,000; June 1, 2000 in the amount of $105,000; June 1, 2001 in the amount of $95,000; June 1, 2002 in the amount of $60,000; and June 1, 2003 in the amount of $15,000. "Term" means the term of this Agreement as determined in accordance with Section 3.1. "Total User Charge Rate" means the sum of the Base Service Rate, the Additional Capital Improvements Charge, the Pass-through Charge or Pass-through Credit, as the case may be, and the Township Administrative Fee. "Township" means the Township of Edison, a public body corporate and politic of the State of New Jersey. "Township Administrative Fee" means the annual fee charged by the Township beginning in the Contract Year that commences on July 1, 1999 and included in the Total User Charge Fee pursuant to Section 8.4(d) which amount shall not exceed $150,000 per year. "Unforeseen Events" means circumstances beyond the control of the parties hereto consisting of: (a) changes in rates charged by any outside supplier of water to the Township from the amount charged for such water at the time of execution of this Agreement or (b) any of the following acts, events or conditions or any combination thereof (other than a labor strike by the Operator, its employees, affiliates or subcontractors) that is (i) unforeseeable as of the Contract Date, (ii) outside of the control of the party relying thereon for justification for not performing an obligation or complying with any condition required of such party under the Agreement; and (iii) has had or may be reasonably expected to have a direct, material adverse effect on the System or the operation thereof: (A) Force Majeure events, such as acts of God, acts of terrorism, insurrections, riots, epidemics, landslides, lightning, earthquakes, fires, hurricanes, storms, floods, washouts, droughts and explosions, civil disturbances, acts of the public enemy, and war;
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Related to System Indebtedness

  • 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:

  • Refinance Indebtedness has the meaning assigned to such term in Section 6.01(f).

  • 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.

  • 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).

  • 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.

  • Acquisition Indebtedness means any Indebtedness of the Loan Parties that has been issued for the purpose of financing, in part, the acquisition of an Acquired Entity or Business.

  • Public Indebtedness means any payment obligation, including any contingent liability, of any person arising from bonds, debentures, notes or other securities that (A) are, or were intended at the time of issuance to be, quoted, listed or traded on any securities exchange or other securities market (including, without limiting the generality of the foregoing, securities eligible for resale pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (or any successor law or regulation of similar effect)) and (B) have an original maturity of more than one year or are combined with a commitment so that the original maturity of one year or less may be extended at the option of Mexico to a period in excess of one year;

  • Unsecured Indebtedness means Indebtedness which is not Secured Indebtedness.

  • 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:

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

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

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

  • 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.

  • Designated Indebtedness has the meaning assigned to such term in the Guarantee and Security Agreement.

  • Purchase Money Indebtedness means Indebtedness (other than the Obligations, but including Capitalized Lease Obligations), incurred at the time of, or within 20 days after, the acquisition of any fixed assets for the purpose of financing all or any part of the acquisition cost thereof.

  • Unsecured Longer-Term Indebtedness means any Indebtedness for borrowed money of an Obligor that (a) has no amortization, or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date (it being understood that customary put rights or repurchase or redemption obligations (x) in the case of convertible securities, in connection with the suspension or delisting of the capital stock of the Borrower or the failure of the Borrower to satisfy a continued listing rule with respect to its capital stock or (y) arising out of circumstances that would constitute a “fundamental change” (as such term is customarily defined in convertible note offerings) or be Events of Default under this Agreement shall not be deemed to be “amortization”, “mandatory redemption”, “repurchase”, “prepayment” or a “final maturity date” for purposes of this definition), (b) is incurred pursuant to documentation containing financial covenants, covenants governing the borrowing base, if any, and portfolio valuation, and events of default that are no more restrictive than those set forth in this Agreement, and other terms substantially comparable to market terms for substantially similar debt of other similarly situated borrowers as reasonably determined in good faith by the Borrower (it being understood that customary put rights or repurchase or redemption obligations (x) in the case of convertible securities, in connection with the suspension or delisting of the capital stock of the Borrower or the failure of the Borrower to satisfy a continued listing rule with respect to its capital stock or (y) arising out of circumstances that would constitute a “fundamental change” (as such term is customarily defined in convertible note offerings) or be Events of Default under this Agreement shall not be deemed to be more restrictive for purposes of this definition), and (c) is not secured by any assets of any Obligor. For the avoidance of doubt, (a) Unsecured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Unsecured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Unsecured Longer-Term Indebtedness shall be subject to Section 6.12.

  • Securitization Indebtedness means (i) Indebtedness of the Company or any of its Restricted Subsidiaries incurred pursuant to on-balance sheet Securitizations treated as financings and (ii) any Indebtedness consisting of advances made to the Company or any of its Restricted Subsidiaries based upon securities issued by a Securitization Entity pursuant to a Securitization and acquired or retained by the Company or any of its Restricted Subsidiaries.

  • 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.

  • Permitted Financial Indebtedness means Financial Indebtedness:

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

  • Other Permitted Indebtedness means (a) accrued expenses and current trade accounts payable incurred in the ordinary course of the Borrower’s business which are not overdue for a period of more than 90 days or which are being contested in good faith by appropriate proceedings, (b) Indebtedness (other than Indebtedness for borrowed money) arising in connection with transactions in the ordinary course of the Borrower’s business in connection with its securities transactions, derivatives transactions, reverse repurchase agreements or dollar rolls to the extent such transactions are permitted under the Investment Company Act and the Borrower’s Investment Policies (after giving effect to any Permitted Policy Amendments), provided that such Indebtedness does not arise in connection with the purchase of Portfolio Investments other than Cash Equivalents and U.S. Government Securities and (c) Indebtedness in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal so long as such judgments or awards do not constitute an Event of Default under clause (l) of Article VII.

  • Excluded Indebtedness means all Indebtedness not incurred in violation of Section 6.01.

  • Unsecured Shorter-Term Indebtedness means, collectively, (a) any Indebtedness of an Obligor that is not secured by any assets of any Obligor and that does not constitute Unsecured Longer-Term Indebtedness and (b) any Indebtedness that is designated as “Unsecured Shorter-Term Indebtedness” pursuant to Section 6.11(a).

  • 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.

  • Permitted Unsecured Indebtedness Indebtedness of any Loan Party (a) that is not (and any Guarantees thereof by any Loan Party are not) secured by any collateral (including the Collateral), (b) that does not mature earlier than the date that is 91 days after the Latest Maturity Date then in effect at the time of incurrence thereof and has a weighted average life to maturity no shorter than the Facility 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 into Capital Stock of the Borrower in the case of convertible or exchangeable Indebtedness) prior to the date that is 91 days after the Latest Maturity Date then in effect at the time of incurrence thereof, (d) that contains covenants, events of default, guarantees and other terms that are customary for similar Indebtedness in light of then-prevailing market conditions (it being understood and agreed that such Indebtedness shall not include any financial maintenance covenants and that applicable negative covenants shall be incurrence-based to the extent customary for similar Indebtedness) and, when taken as a whole (other than interest rates, rate floors, fees and optional prepayment or redemption terms), are not more favorable to the lenders or investors providing such Permitted Unsecured Indebtedness, as the case may be, than those set forth in the Loan Documents are with respect to the Lenders (other than covenants or other provisions applicable only to periods after the Latest Maturity Date then in effect at the time of incurrence thereof); provided that a certificate of a Responsible Officer delivered to the Administrative Agent at least five 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 reasonably detailed description of the material terms and conditions of such resulting Indebtedness or drafts of the material definitive documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the foregoing requirements shall be conclusive, and (e) that is not guaranteed by any Person other than on an unsecured basis by the Borrower and/or Restricted Subsidiaries that are Loan Parties.

  • Secured Longer-Term Indebtedness means, as at any date, Indebtedness for borrowed money (other than Indebtedness hereunder) of the Borrower (which may be Guaranteed by Subsidiary Guarantors) that (a) has no amortization (other than for amortization in an amount not greater than 1% of the aggregate initial principal amount of such Indebtedness per annum (or an amount in excess of 1% of the aggregate initial principal amount of such Indebtedness per annum on terms mutually agreeable to the Borrower and the Required Lenders)) or mandatory redemption, repurchase or prepayment prior to, and a final maturity date not earlier than, six months after the Maturity Date; (b) is incurred pursuant to documentation containing (i) financial covenants, covenants governing the borrowing base, if any, covenants regarding portfolio valuations, and events of default that are no more restrictive in any respect than those set forth in this Agreement (other than, if such Indebtedness is governed by a customary indenture or similar instrument, events of default that are customary in indentures or similar instruments and that have no analogous provisions in this Agreement or credit agreements generally) (provided that, upon the Borrower’s request, this Agreement will be deemed to be automatically amended (and, upon the request of the Administrative Agent or the Required Lenders, the Borrower and the Lenders shall enter into a document evidencing such amendment), mutatis mutandis, to make such covenants more restrictive in this Agreement as may be necessary to meet the requirements of this clause (b)(i)) and (ii) other terms (other than interest and any commitment or related fees) that are no more restrictive in any material respect than those set forth in this Agreement; and (c) ranks pari passu with the obligations under this Agreement and is not secured by any assets of any Person other than any assets of any Obligor pursuant to the Security Documents and the holders of which, or the agent, trustee or representative of such holders on behalf of and for the benefit of such holders, have agreed to be bound by the provisions of the Security Documents in a manner reasonably satisfactory to the Administrative Agent and the Collateral Agent. For the avoidance of doubt, (a) Secured Longer-Term Indebtedness shall also include any refinancing, refunding, renewal or extension of any Secured Longer-Term Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition and (b) any payment on account of Secured Longer-Term Indebtedness shall be subject to Section 6.12.