Guarantor Senior Indebtedness Sample Clauses
The Guarantor Senior Indebtedness clause defines and prioritizes certain debts owed by the guarantor as 'senior' to other obligations, meaning these debts must be paid first in the event of insolvency or liquidation. Typically, this clause outlines which specific loans, bonds, or credit facilities are considered senior, and may exclude subordinated or junior debt from this category. Its core practical function is to establish a clear hierarchy of repayment, ensuring that senior creditors have priority over other claimants and thereby reducing their risk in lending to the guarantor.
Guarantor Senior Indebtedness. 7 Holder...................................................................8 Indebtedness.............................................................8 Indenture................................................................8
Guarantor Senior Indebtedness. The Borrower, the Obligors, the Administrative Agent and the Lenders acknowledge and agree that the Borrower Obligations hereunder constitute “Senior Debt” and “Designated Senior Debt,” in each case, under and as defined in the Indentures pursuant to which the Senior Notes have been issued.
Guarantor Senior Indebtedness. The obligations of the guarantors under the guaranty entered into pursuant to the terms of this Agreement constitute "Guarantor Senior Indebtedness" under that certain Indenture dated as of August 5, 1997 among Marsh Supermarkets, Inc., as issuer, certain Subsidiaries of Marsh Su▇▇▇▇▇rkets, Inc., as guarantors, and State Street Bank and Tr▇▇▇ ▇ompany.
Guarantor Senior Indebtedness. Each Loan Party shall at all times cause the Obligations to constitute "Guarantor Senior Indebtedness" under the Indenture.
Guarantor Senior Indebtedness. 40 ARTICLE IV Conditions............................................................................................41 Section 4.01 Closing Date.....................................................................................41
Guarantor Senior Indebtedness. The term “