Senior Secured Indebtedness Sample Clauses

Senior Secured Indebtedness. No fewer than five Business Days prior to the voluntary prepayment of, voluntary redemption of, voluntary repurchase of, or voluntary purchase of a participation in, any Senior Secured Indebtedness (other than the Securities), the Company shall provide the Trustee with a notice of prepayment of Securities in a principal amount equal to the product of (i) the Prior Prepayment Percentage multiplied by (ii) the principal amount of such prepayment, redemption, repurchase, or purchase of a participation.
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Senior Secured Indebtedness. The Obligations constitute Indebtedness that is permitted to be secured by a “Permitted Lien” under and as defined in, the KWI Note Indentures as in effect on the Closing Date.
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Senior Secured Indebtedness any Indebtedness outstanding on the Issue Date (including, without limitation, the Bridge Loan) and any Refinancing Indebtedness Incurred in respect of any Indebtedness described in this clause (a);
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Senior Secured Indebtedness. 15 (i)+(ii)+(iii)+(iv) $ (i) aggregate principal amount of Indebtedness of the Borrower and the Restricted Subsidiaries outstanding as of such date that is secured by any Lien on any asset of the Borrower or any Restricted Subsidiary,16 in the amount that would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP (but without giving effect to any other accounting principle that results in the amount of any such Indebtedness (other than zero coupon Indebtedness) as reflected on such balance sheet to be below the stated principal amount of such Indebtedness $ (ii) aggregate amount of Capitalized Lease Obligations and Synthetic Lease Obligations of the Borrower and the Restricted Subsidiaries outstanding as of such date,17 determined on a consolidated basis: $ 13 Item to be set forth without duplication and to the extent not deducted in determining such Consolidated Net Income. 14 Items to be set forth without duplication and to the extent included in determining Consolidated Net Income. Determined on a consolidated basis in accordance with GAAP. 15 Items to be set forth without duplication. Determined on a consolidated basis in accordance with GAAP. 16 Other than Indebtedness of any Foreign Subsidiary that is secured by a Lien only on assets of one or more Foreign Subsidiaries.
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Senior Secured Indebtedness. Each of the Noteholders hereby agrees for itself and for its successors and assigns that the Note Party Obligations are, to the extent and in the manner set forth in this Article VII, expressly subordinated and junior in right of payment to the prior payment in full of any Senior Secured Indebtedness incurred by a Note Party, provided, the Note Party Obligations shall not be subordinated and junior in right of payment to (and Section 7.3 shall not apply to) any Senior Secured Indebtedness of the Company that is not secured by a Lien on all or substantially all of the assets of the Company.
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Senior Secured Indebtedness amend the definition of Senior Secured Indebtedness in Annex I to delete and replace the reference to “First Priority Lien” with “First-Priority Lien”.
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Senior Secured Indebtedness. The Obligations constitute the direct and unconditional senior secured obligations of each Loan Party and rank pari passu in right of payment with all existing and future senior indebtedness of, and senior in right of payment to any existing and future Subordinated Indebtedness of, each Loan Party.
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Senior Secured Indebtedness. The excess of (A) (i.e. (i)+(ii)+(iii)) over (B) = $[ , , ]
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Senior Secured Indebtedness. As of February 28, 2017, ExWorks Capital Fund I, L.P. provided a $7,800,000 Senior Secured Debt facility to the Company and each of the members of the THC Group, as borrowers. Outstanding principal indebtedness under the ExWorks Loan Agreement will accrue interest at a rate of 15% per annum. Under the terms of the THC Purchase Agreement, the Company financed (i) a portion of the closing cash payment, (ii) retired $1,200,000 in principal indebtedness owed by THC and the Subsidiaries of THC to Patriot Bank and (iii) applied the balance for working capital of THC and the Subsidiaries of THC. The Senior Secured Debt is secured by a continuing security interest and lien in all presently existing or hereafter acquired collateral of THC and the Subsidiaries of THC to secure prompt repayment of all obligations under the Senior Secured Debt. The obligation to pay outstanding principal and interest to ExWorks under the ExWorks Loan Agreement is due and payable on February 28, 2018. On August 7, Exworks granted the Company an option, exercisable by it at any time on or before January 29, 2018, to extend the maturity date of the ExWorks loan to August 28, 2018. If the Company elects to exercise the option, it will be obligated to pay ExWorks an additional fee (excluding the $1.2 million fee provided for in the ExWorks loan agreement) of $600,000 and issue a second warrant to ExWorks to purchase shares of Class A Common Stock, in an amount representing 1.375% of Company fully-diluted Common Stock, and at an exercise price of $0.01 per share As of August 31, 2017, there was $7,800,000 outstanding in principal indebtedness under the Senior Secured Debt. On or before September 29, 2017, ExWorks and the Company agreed to enter into amendment 2 to the ExWorks Loan Agreement pursuant to which ExWorks agreed to loan up to an additional $3.700,000 to the Company, thereby increasing the outstanding principal amount of the Indebtedness owed to ExWorks to as much as $11,500,000. An initial advance of not less than 2,700,000 will be made on date of execution of the amendment and the balance is to be advanced at ExWork’s discretion. The parties agreed to restate the existing note by issuing to ExWorks a maximum $11,500,000 note that is due and payable on February 28, 2018, subject to extension as set forth above. The note is convertible at any time prior to the maturity date at the option of ExWorks into Class A Common Stock of the Company or upon consummation of the Merger (whethe...
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Related to Senior Secured Indebtedness

  • Secured Indebtedness The Borrower shall not permit the ratio of (i) Secured Indebtedness of the Borrower and its Subsidiaries to (ii) Total Asset Value to be greater than 0.40 to 1.00 at any time.

  • Subordinated Indebtedness The Obligations constitute senior indebtedness which is entitled to the benefits of the subordination provisions of all outstanding Subordinated Indebtedness.

  • Senior Secured Leverage Ratio The Borrowers shall not at any time permit the Senior Secured Leverage Ratio, calculated as of the end of each fiscal quarter, to exceed the maximum ratio set forth below for such fiscal quarter;

  • Investments; Indebtedness PNU shall not, and shall not permit any of its Subsidiaries to, other than in connection with actions permitted by Section 4.1(e), (i) make any loans, advances or capital contributions to, or investments in, any other Person, other than (x) by PNU or a direct or indirect wholly owned Subsidiary of PNU to or in PNU or any direct or indirect wholly owned Subsidiary of PNU, (y) pursuant to any contract or other legal obligation of PNU or any of its Subsidiaries as in effect at the date of this Agreement or (z) in the ordinary course of business consistent with past practice in an aggregate amount not in excess of the aggregate amount specified in Section 4.1(g) of the PNU Disclosure Schedule or (ii) create, incur, assume or suffer to exist any indebtedness, issuances of debt securities, guarantees, loans or advances not in existence as of the date of this Agreement except pursuant to the credit facilities, indentures (but not in excess of amounts authorized for issuance thereunder as of the date of this Agreement) and other arrangements in existence on the date of this Agreement or trade debt and commercial finance in the ordinary course of business consistent with past practice, in each case as such credit facilities, indentures and other arrangements and other existing indebtedness may be amended, extended, modified, refunded, renewed or refinanced after the date of this Agreement which does not increase the aggregate principal amount or amount of the facility, as the case may be.

  • Additional Indebtedness This Indenture does not restrict the Corporation from incurring additional indebtedness for borrowed money or other obligations or liabilities (including Senior Indebtedness) or mortgaging, pledging or charging its properties to secure any indebtedness or obligations or liabilities.