Third Lien Indebtedness definition

Third Lien Indebtedness means Indebtedness under the Third Lien Note Documents.

Third Lien Indebtedness means any and all Indebtedness of any Borrower, any Guarantor or their respective Subsidiaries arising under or in connection with any Third Lien Loan Document, in an aggregate amount not to exceed $190,000,000 (including any additional Indebtedness incurred thereunder in connection with PIK interest payments).

Third Lien Indebtedness means Indebtedness of the Company (and any related guaranties by Parent or its Subsidiaries) pursuant to the Parent Third Lien Exchange Agreement, the Spinco Third Lien Exchange Agreement and the Intercreditor Agreement, with the holder(s) of such Indebtedness to have a third priority lien on the Collateral (which Collateral shall otherwise remain unencumbered except as permitted under the Note Documents). The Third Lien Indebtedness must have a maturity date that is later than the Maturity Date on the Notes and shall remain subject to the Intercreditor Agreement.

Examples of Third Lien Indebtedness in a sentence

• The Parent Guarantor will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, or suffer to exist any Lien that is (a) senior to the Liens on the Collateral securing the Notes and junior to any other Lien or (b) junior to the Liens on the Collateral securing the Notes (other than Liens securing Permitted Third Lien Indebtedness incurred under Section 3.2(b)(10) and clause (16) of the definition of “Permitted Liens”).

• Neither the Third Priority Collateral Agent nor any other Secured Party need apply or pay over for application noncash proceeds of collection and enforcement unless (i) the failure to do so would be commercially unreasonable and (ii) the applicable Grantor has provided the Third Priority Collateral Agent, the Trustee and each Pari Passu Third Lien Indebtedness Agent with a written demand to apply or pay over such noncash proceeds on such basis.

• Any future Third Lien Indebtedness (collectively with obligations under the Convertible Notes, including the Guarantees thereof, the “Third Lien Obligations”) may also share some or all of the Collateral equally and ratably with the Convertible Notes.

• Each Grantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and each Pari Passu Third Lien Indebtedness Agreement and that the waiver set forth in this Section 8(c) is knowingly made in contemplation of such benefits.

• By accepting the benefits of this Agreement, the other Security Documents and any Pari Passu Third Lien Indebtedness Agreement, as applicable, each Secured Party agrees that it is bound by the terms of the Intercreditor Agreement applicable to such Secured Party.

More Definitions of Third Lien Indebtedness

Third Lien Indebtedness means any Indebtedness (other than Convertible Notes, but including any Additional Convertible Notes) that is secured by the Collateral with Pari Passu Lien Priority relative to the Convertible Notes or is secured by some of the Collateral with Pari Passu Lien Priority relative to the Convertible Notes and is not secured by the balance of the Collateral and with respect to which the holders (or a trustee or agent on behalf of such holders) shall have executed a supplement to the Intercreditor Agreement agreeing to be bound thereby on the same terms applicable to the holders of Convertible Notes.

Third Lien Indebtedness means Indebtedness that is secured by a Lien on the Collateral that is junior in priority to the Liens on the Collateral securing the Notes and any Pari Second Lien Indebtedness, so long as the holder of such Lien (a) is a party to the Intercreditor Agreement as a Third Lien Secured Party (as defined in the Intercreditor Agreement) thereunder or (b) becomes a party to the Intercreditor Agreement by executing a Third Lien Joinder (as defined in the Intercreditor Agreement) on behalf of each Third Lien Secured Party (as defined in the Intercreditor Agreement) represented by it.

Third Lien Indebtedness means any Incremental Equivalent Debt that is secured on a junior basis to the Obligations on the Collateral, and any Permitted Refinancing thereof, so long as such Indebtedness is subject to the Intercreditor Agreement and the Third Lien Intercreditor Agreement.

Third Lien Indebtedness means any Indebtedness that is secured by the Collateral with Junior Lien Priority relative to the Notes and the Guarantees and any Senior Credit Facilities Debt or is secured by some of the Collateral with Junior Lien Priority relative to the Notes and the Guarantees and any Senior Credit Facilities Debt and is not secured by the balance of the Collateral and with respect to which the holders of such Indebtedness (or a trustee or agent on behalf of such holders) shall have executed a supplement to the Intercreditor Agreement agreeing to be bound thereby on the terms applicable to Indebtedness with Junior Lien Priority.

Third Lien Indebtedness means any Indebtedness (other than Notes, but including any Additional Notes) that is secured by the Collateral with Pari Passu Lien Priority relative to the Notes or is secured by some of the Collateral with Pari Passu Lien Priority relative to the Notes and is not secured by the balance of the Collateral and with respect to which the holders (or a trustee or agent on behalf of such holders) shall have executed a supplement to the Intercreditor Agreement agreeing to be bound thereby on the same terms applicable to the holders of Notes.

Third Lien Indebtedness means and include all indebtedness, obligations and liabilities of any Loan Party under the Third Lien Loan Documents, including, without limitation, all principal and interest (including post-petition interest accrued subsequent to, and interest that would have accrued but for, the filing of any petition under any bankruptcy, insolvency or similar law), and other amounts payable under the Third Lien Loan Documents.

Third Lien Indebtedness means Indebtedness of the Parent (and any related guaranties by the Company or its Subsidiaries) pursuant to its third lien subordinated secured convertible notes in the aggregate principal amount of $478,294,966, or, such other amount of such notes as may be outstanding from time to time on account of any redemption, repayment, payment-in-kind of interest or fees (including consent, waiver or amendment fees), or other change in outstanding principal amount, in each case, as may be required or permitted by the Third Lien Exchange Agreement and the Intercreditor Agreement, with the holder(s) of such Indebtedness to have a third priority lien on the Collateral (which Collateral shall otherwise remain unencumbered except as permitted under the Note Documents). The Third Lien Indebtedness must have a maturity date that is later than the Maturity Date on the Notes and shall remain subject to the Intercreditor Agreement (as defined in the Second Lien Note Purchase Agreement).”