Common use of New Subordinated Debt Clause in Contracts

New Subordinated Debt. (a) The Company will not issue any Debt securities in the capital markets on or after the Effective Date which rank pari passu with the Loans and the Swingline Loans made to the Company and the Reimbursement Obligations of the Company (determined without regard to the existence of the Lien on the Collateral created under the Collateral Documents) until the Company will have issued New Subordinated Debt for gross proceeds of not less than $350,000,000 in the aggregate. (b) The Company will not, and will not permit any Subsidiary to, enter into any amendment or waiver of any agreement or instrument governing any New Subordinated Debt (or any Guarantee thereof) which (i) would increase the interest rate, shorten the final maturity or the weighted average life, or change the subordination provisions of such New Subordinated Debt (or Guarantee thereof) or make any of the covenants or events of default applicable to such New Subordinated Debt (or Guarantee thereof) more restrictive than the covenants or events of default applicable under this Agreement or (ii) could otherwise be reasonably expected to have an adverse effect on the Banks, without in each case the prior written consent of the Required Banks. The Company will not enter into any amendment or waiver of the Escrow Agreement which (i) would alter the provisions regarding the deposit, withdrawal, application or investment of amounts on deposit therein (including without limitation the timing or amount of any such deposit or withdrawal) or the creation or termination or release of any Liens on amounts on deposit therein or (ii) could otherwise be reasonably expected to have an adverse effect on the Banks, without in each case the prior written consent of the Required Banks. (c) Neither the Company nor any Subsidiary will optionally prepay, redeem, purchase, acquire or make any other payment in respect of any New Subordinated Debt other than regularly scheduled payments of interest thereon.

New Subordinated Debt. (a) The Company Borrower will not issue any Debt securities in the capital markets on or after the Effective Date which rank pari passu with the Loans and Loans, the Swingline Loans made to the Company and the Reimbursement Obligations of the Company (determined without regard to the existence of the Lien on the Collateral created under the Collateral Documents) until the Company Borrower will have issued New Subordinated Debt for gross proceeds of not less than $350,000,000 in the aggregate. (b) The Company Borrower will not, and will not permit any Subsidiary to, enter into any amendment or waiver of any agreement or instrument governing any New Subordinated Debt (or any Guarantee thereof) which (i) would increase the interest rate, shorten the final maturity or the weighted average life, or change the subordination provisions of such New Subordinated Debt (or Guarantee thereof) or make any of the covenants or events of default applicable to such New Subordinated Debt (or Guarantee thereof) more restrictive than the covenants or events of default applicable under this Agreement or (ii) could otherwise be reasonably expected to have an adverse effect on the Banks, without in each case the prior written consent of the Required Banks. The Company Borrower will not enter into any amendment or waiver of the Escrow Agreement which (i) would alter the provisions regarding the deposit, withdrawal, application or investment of amounts on deposit therein (including without limitation the timing or amount of any such deposit or withdrawal) or the creation or termination or release of any Liens on amounts on deposit therein or (ii) could otherwise be reasonably expected to have an adverse effect on the Banks, without in each case the prior written consent of the Required Banks. (c) Neither the Company Borrower nor any Subsidiary will optionally prepay, redeem, purchase, acquire or make any other payment in respect of any New Subordinated Debt other than regularly scheduled payments of interest thereon.