Examples of Senior Loan Documents in a sentence
This Agreement shall remain in full force and effect until the indefeasible payment in full in cash of the Senior Debt and the termination of all lending commitments under the Senior Loan Documents after which this Agreement shall terminate without further action on the part of the parties hereto; provided, that if any payment is, subsequent to such termination, recovered from any holder of Senior Debt, this Agreement shall be reinstated.
Subject to the indefeasible payment in full in cash of all Senior Debt and the termination of all lending commitments under the Senior Loan Documents, if Subordinated Lender makes a Distribution to Senior Agent or the Senior Lenders under this Agreement, Subordinated Lender shall be subrogated to the rights of Senior Agent and the Senior Lenders to receive Distributions with respect to the amount of such Distribution made by Subordinated Lender until the Subordinated Debt is paid in full.
All of the Borrowers’ and Guarantors’ obligations to Senior Agent and the Senior Lenders under the Senior Credit Agreement and the other Senior Loan Documents (as hereinafter defined) are secured on a first priority basis by liens on and security interests in substantially all of the now existing and hereafter acquired real and personal property of the Borrowers (collectively, the “Collateral”).
The Obligors hereby consent to any such assignment and replacement of agent in accordance with the terms of this paragraph, which consent shall be sufficient to satisfy any Obligor consent requirement set forth in the Senior Loan Documents in connection with such assignment and/or replacement of agent.
Until the Senior Debt is indefeasibly paid in full in cash and all commitments to lend under the Senior Loan Documents shall be terminated Subordinated Lender shall not, without the prior written consent of Senior Agent, take any Enforcement Action with respect to the Subordinated Debt.