Term Indebtedness definition

Term Indebtedness means the Borrowings and all other present and future indebtedness of the Borrower to the Agent and the Lenders, absolute or contingent, determined or undetermined, cxxxxx or inchoate, matured or unmatured, howsoever arising or incurred hereunder or under any of the other Loan Documents and includes all fees, costs, expenses and indemnity obligations hereunder or under any of the other Loan Documents and under the indebtedness of the Borrower pursuant to any judgment obtained in respect of the failure by the Borrower to perform or observe any of its obligations under any of the Loan Documents;

Term Indebtedness means one or more debt facilities or other financing arrangements (including indentures) providing for term loans or other long-term term indebtedness; provided that (a) as of the date of the incurrence of such Indebtedness and after giving effect thereto, the Payment Conditions are satisfied, (b) if such Indebtedness is secured solely by Liens ranking junior in right of security to the Liens securing the Obligations or is unsecured then such Indebtedness shall not mature (or require any scheduled amortization or scheduled payments of principal), and shall not be subject to any mandatory redemption, repurchase, repayment or sinking fund obligation (other than (i) payments as part of an “applicable high yield discount obligation” catch-up payment, (ii) customary offers to repurchase in connection with any change of control or fundamental change, Disposition or casualty event and (iii) customary acceleration rights after an event of default), in each case, prior to the date that is 91 days after the Maturity Date as of the date of the incurrence of such Indebtedness, (c) if such Indebtedness is secured by Liens on assets other than Collateral, then such Indebtedness shall not mature prior to the Maturity Date as of the date of the incurrence of such Indebtedness.

Term Indebtedness means Indebtedness of the Borrower under the Term Loan Credit Agreement and all guarantees thereof by any Subsidiary Guarantor and all refinancings, renewals and extensions thereof that are permitted by Section 6.01(l).

Examples of Term Indebtedness in a sentence

• The Company hereby designates such Additional Indebtedness as Additional Indebtedness and as Additional [ABL] / [Term] Indebtedness under the Intercreditor Agreement.

• The Company shall at all times maintain a Combined Tangible Net Worth of (i) not less than $31,051,000, plus 50% of the Company's Aggregate Combined Net Income at the end of each fiscal year subsequent to the fiscal year ending December 31, 1991 and (ii) not less than 25% of Combined Long Term Indebtedness but in no event less than $31,051,000.

• Until the Discharge of Term Loan Claims has occurred, each ABL Agent, on behalf of itself and each ABL Lender, agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Term Loan Priority Collateral, without the prior written consent of the Term Loan Agents and the Required Lenders under each of the Term Loan Credit Agreements (and any other Credit Agreements governing Future Secured Term Indebtedness, if applicable).

• Until the Discharge of Term Loan Claims has occurred, the ABL Agent, on behalf of itself and each ABL Lender, agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Term Loan Priority Collateral, without the prior written consent of the Term Loan Agents and the Required Lenders under the applicable Term Loan Credit Agreement (and any other Credit Agreements governing Future Senior Term Indebtedness, if applicable).

• Amend, modify, supplement, restate, replace, or change any of the Term Indebtedness Documents, except to the extent such change could not reasonably be expected to materially adversely effect Administrative Agent or any Lender.

More Definitions of Term Indebtedness

Term Indebtedness means the Indebtedness owed by the parties pursuant to the Term Credit Agreement.

Term Indebtedness means the Debt of Company under any Term Indebtedness Documents from time to time.

Term Indebtedness means, collectively, all (i) principal indebtedness under the Term Credit Agreement, (ii) interest (including interest at the default rate of interest provided for in the Term Loan Documents on the principal indebtedness under the Term Loan Documents), fees, expenses, changes or other amounts accruing on or after the filing of any petition in bankruptcy or for reorganization at the rate or in the amount otherwise applicable thereto, whether or not any such interest, fees, expenses, charges or other amounts is an allowed claim, and (iii) premiums and fees (including post-petition fees and costs, including attorneys fees), if any, and other amounts, indebtedness, obligations and liabilities of Term Borrowers and their respective Subsidiaries or Affiliates, whether now existing or hereafter incurred or created, payable, owing or due to Term Lenders under or with respect to the Term Loan Documents.

Term Indebtedness means the term loan credit facility in favor of Credit Parties in the original principal amount of no less than $20,000,000 and incurred pursuant to the terms of the Term Credit Agreement.

Term Indebtedness means any indebtedness which, once repaid or discharged, is not available for re-borrowing or re-drawing.

Term Indebtedness means one or more debt facilities or other financing arrangements (including indentures) providing for term loans or other long-term term indebtedness; provided that (a) as of the date of the incurrence of such Indebtedness and after giving effect thereto, the Payment Conditions are satisfied, (b) if such Indebtedness is secured solely by Liens ranking junior in right of security to the Liens securing the Obligations or is unsecured then such Indebtedness shall not mature (or require any scheduled amortization or scheduled payments of principal), and shall not be subject to any mandatory redemption, repurchase, repayment or sinking fund obligation (other than (i) payments as part of an “applicable high yield discount obligation” catch-up payment, (ii) customary offers to repurchase in connection with any change of control or fundamental change, Disposition or casualty event and(iii) customary acceleration rights after an event of default), in each case, prior to the date that is 91 days after the Maturity Date as of the date of the incurrence of such Indebtedness, (c) if such Indebtedness is secured by Liens on assets other than Collateral, then such Indebtedness shall not mature prior to the Maturity Date as of the date of the incurrence of such Indebtedness.

Term Indebtedness means, collectively, the Indebtedness incurred by the Company under (a) this Agreement as evidenced by the Notes and (b) any other term Indebtedness under the Credit Agreement at any date of determination thereof.