Term Debt Reserve definition

Term Debt Reserve means the aggregate amount of reserves established by the Administrative Agent with respect to (a) any Indebtedness of the Borrower or any Restricted Subsidiary that matures before the Maturity Date (other than purchase money obligations permitted by Section 7.03(e) or Indebtedness permitted by Section 7.03(l) or 7. 03(m)), such reserves to be in an amount not less than the outstanding principal amount of such Indebtedness plus accrued interest thereon; provided that any Term Debt Reserve taken with respect to any such Indebtedness shall not go into effect until ninety (90) days prior to the maturity date of such Indebtedness, and (b) the Convertible Senior Notes (or other debt securities convertible into equity) at any time prior to the date that is ninety (90) days prior to the maturity date thereof if the holders thereof may then exercise their right to convert, if the Administrative Agent receives notice from the Borrower that holder(s) of Convertible Senior Notes (or another issue of debt securities convertible into equity) in an aggregate principal amount of $25,000,000 or more have elected to convert such holders’ Convertible Senior Notes (or other debt securities) prior to the maturity date thereof, such reserves to be in an amount not less than the outstanding principal amount of the Convertible Senior Notes (or such other debt securities).
Sample 1
Term Debt Reserve. (i) with respect to any of the Term Debt, a reserve established by the Agent at any time on or after the date that is ninety (90) days prior to the maturity date of such Term Debt, which reserve does not exceed the outstanding principal amount of such Term Debt, plus any other amounts owing with respect to, or to be paid in respect of, such Term Debt on or prior to the maturity date thereof; less (ii) the amount of the Term Debt Cash Collateral. If the result of the foregoing is a negative number, then the Term Debt Reserve shall be zero (-0-).”
Sample 1
Term Debt Reserve means the aggregate amount of reserves established by the Administrative Agent with respect to (a) any Indebtedness of the Borrower or any Restricted Subsidiary that matures before the Extended Tranche Maturity Date (other than purchase money obligations permitted by Section ‎7.03(f) or Indebtedness permitted by Section ‎7.03(m) or ‎7.03(n)), such reserves to be in an amount not less than the outstanding principal amount of such Indebtedness plus accrued interest thereon; provided that any Term Debt Reserve taken with respect to any such Indebtedness shall not go into effect until ninety (90) days prior to the maturity date of such Indebtedness, and (b) the Convertible Senior Notes (or other debt securities convertible into equity) at any time prior to the date that is ninety (90) days prior to the maturity date thereof if the holders thereof may then exercise their right to convert, if the Administrative Agent receives notice from the Borrower that holder(s) of Convertible Senior Notes (or another issue of debt securities convertible into equity) in an aggregate principal amount of $25,000,000 or more have elected to convert such holders’ Convertible Senior Notes (or other debt securities) prior to the maturity date thereof, such reserves to be in an amount not less than the outstanding principal amount of the Convertible Senior Notes (or such other debt securities).
Sample 1

Examples of Term Debt Reserve in a sentence

  • If the result of the foregoing is a negative number, then the Term Debt Reserve shall be zero (-0-).


More Definitions of Term Debt Reserve

Term Debt Reserve means the aggregate amount of reserves established by the Administrative Agent with respect to any Indebtedness of the Borrower or any Restricted Subsidiary that matures before the Maturity Date (other than purchase money obligations permitted by Section 7.03(e) and Indebtedness permitted by Section 7.03(l) or 7.03(m)), such reserves to be in an amount not less than the outstanding principal amount of such Indebtedness plus accrued interest thereon; provided that any Term Debt Reserve taken with respect to any such Indebtedness shall not go into effect until ninety (90) days prior to the maturity date of such Indebtedness.
Sample 1

Related to Term Debt Reserve

  • Debt Repayment means the repayment, prepayment, repurchase or defeasance of the Indebtedness of the Borrower under the Indebtedness that is identified on Schedule 1.1(g) to the Original Credit Agreement and that is repaid, prepaid, repurchased or defeased on the Original Closing Date (or such later date as may be necessary to effect the Debt Repayment in accordance with the tender offers therefor).

  • Class Debt Representatives has the meaning assigned to such term in Section 8.09.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • Class A Cash Collateral Account means an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it shall so qualify, into which all amounts drawn under the Class A Liquidity Facility pursuant to Section 3.5(c), 3.5(d), 3.5(i) or 3.5(m) shall be deposited.

  • Required Cash Collateral Amount shall have the meaning provided in Section 3.7(c).

  • Interest Reserve Amount With respect to each Mortgage Loan that is an Interest Reserve Loan (or the related successor REO Mortgage Loan), for any Distribution Date that occurs during February of any year or during January of any year that is not a leap year, an amount equal to one day’s interest accrued at the related Net Mortgage Rate on the related Stated Principal Balance as of the end of the Collection Period related to such Distribution Date, but prior to giving effect to the application of any amounts due on the Due Date occurring in such Collection Period, to the extent that a Monthly Payment is Received by the Trust with respect to such Interest Reserve Loan for the related Due Date in the same month as such Distribution Date on or before the related Master Servicer Remittance Date or a P&I Advance is made under this Agreement with respect to such Interest Reserve Loan by such Distribution Date. For purposes of calculating Interest Reserve Amounts, the Net Mortgage Rate for each Interest Reserve Loan shall be the Net Mortgage Rate in effect (including as a result of any step-up provision) under the original terms of such Interest Reserve Loan in effect as of the Closing Date, without regard to any modifications, extensions, waivers or amendments of such Interest Reserve Loan subsequent to the Closing Date (whether entered into by the applicable Master Servicer, the applicable Special Servicer, the Non-Trust Master Servicer or the Non-Trust Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower).

  • Class Debt Parties has the meaning assigned to such term in Section 8.09.

  • Senior Class Debt Representative has the meaning assigned to such term in Section 8.09.

  • Initial Collateral Amount means $757,097,792, which equals the sum of (i) the Class A Note Initial Principal Balance, (ii) the Class B Note Initial Principal Balance, (iii) the Class C Note Initial Principal Balance and (iv) the Initial Excess Collateral Amount.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Second Priority Debt Parties means the Initial Second Priority Debt Parties and, with respect to any series, issue or class of Second Priority Debt, the holders of such Indebtedness, the Representative with respect thereto, any trustee or agent therefor under any related Second Priority Debt Documents and the beneficiaries of each indemnification obligation undertaken by the Borrower or any other Grantor under any related Second Priority Debt Documents.

  • Secured Debt Representative means each Parity Lien Representative and each Priority Lien Representative.

  • First Lien Debt means the Initial First Lien Debt and any Additional First Lien Debt.

  • L/C Cash Collateral Account means an interest bearing cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • Priority Amount As to any Distribution Date, the amount equal to the sum of (i) the product of (A) the Scheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage and (ii) the product of (A) the Unscheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage.

  • First Lien Last Out Loan Any Collateral Obligation that would be a Senior Secured Loan except that, following a default, such Collateral Obligation becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.

  • Collateral Available Funds means with respect to any Distribution Date, the Collateral Floating Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period.

  • Priority Debt means the sum, without duplication, of (i) Indebtedness of the Borrower or any Guarantor secured by a Lien (other than the Liens entered into under the Loan Documents, including the Security Documents) and (ii) all Indebtedness of any Subsidiary that is not a Guarantor.

  • Second Priority Collateral Documents means the Initial Second Priority Collateral Documents and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any Grantor for purposes of providing collateral security for any Second Priority Debt Obligation.

  • Consolidated First Lien Debt means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a first priority Lien on the Collateral.