“Refinancing Indebtedness” means Indebtedness (to the extent not Permitted Indebtedness) that refunds, refinances or extends any Indebtedness of Holdings, the Borrower or any Restricted Subsidiary (other than Non-Recourse Indebtedness and Permitted Indebtedness described under [clauses [(d) through (f)]], [(h) through (j)], [(l), and [(n) through (s)]])] of the definition thereof), but only to the extent that:
“Permitted Refinancing Indebtedness” means Indebtedness (to the extent not Permitted Indebtedness) that refunds, refinances or extends any Indebtedness issued in exchange for, or the net proceeds of Holdings,which are used to extend, refinance, renew, replace, defease or refund (collectively, “Refinance”) the Borrower or any Restricted Subsidiary (other than Non-Recourse Indebtedness andbeing Refinanced (or previous refinancings thereof constituting Permitted Indebtedness described under [clauses [(d) through (f)]], [(h) through (j)], [(l), and [(n) through (s)]])] of the definition thereof), but only to the extentRefinancing Indebtedness); provided that:
“Permitted Refinancing Indebtedness” meansshall mean Indebtedness (to the extent not Permitted Indebtedness) that refunds, refinances or extends any Indebtedness of Holdings, theincurred by Lead Borrower or any Restricted Subsidiary (other than Non-Recourse Indebtedness andwhich serves to extend, replace, refund, refinance, renew or defease (“Refinance”) any Indebtedness, including any previously issued Permitted Indebtedness described under [clauses [(d) through (f)]], [(h) through (j)], [(l), and [(n) through (s)]])] of the definition thereof), but only to the extent that:Refinancing Indebtedness, so long as:
“Permitted Refinancing Indebtedness” means Indebtedness (to the extent not Permitted Indebtedness) that refunds, refinances or extends any Indebtedness of Holdings, the Borrowerany Loan Party or any Restricted Subsidiaryof its Subsidiaries (other than Non-Recourseany Bank Regulated Subsidiary and its respective Subsidiaries) issued in exchange for, or the net proceeds of which are used to extend, renew, refund, refinance, replace, defease or discharge other Indebtedness of such Loan Party or any of its Subsidiaries (other than any Bank Regulated Subsidiary and Permitted Indebtedness described under [clauses [(d) through (f)]], [(h) through (j)], [(l), and [(n) through (s)]])] of the definition thereof), but only to the extentits respective Subsidiaries); provided that:
“Permitted Refinancing Indebtedness”Indebtedness means Indebtedness (to the extent not Permitted Indebtedness) that refunds, refinances or extends any Indebtedness issued in exchange for, or the net proceeds of Holdings,which are used to extend, refinance, renew, replace, defease or refund (collectively, Refinance) the Borrower or any Restricted Subsidiary (other than Non-Recourse Indebtedness andbeing Refinanced (or previous refinancings thereof constituting Permitted Indebtedness described under [clauses [(d) through (f)]], [(h) through (j)], [(l), and [(n) through (s)]])] of the definition thereof), but only to the extentRefinancing Indebtedness); provided that:
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