Refinancing of Senior Debt Sample Clauses

Refinancing of Senior Debt. Any or all of the Senior Debt may be refinanced and any debt refinancing of that Senior Debt will be treated as Senior Debt and rank accordingly in accordance with this Deed. Furthermore, the providers of debt refinancing any Senior Debt (to the extent that such refinancing debt is not provided in contravention of the provisions of the XX Xxxx Indenture) shall be deemed to be Senior Creditors and the HY Bonds shall be subordinated to such Senior Debt on the terms of this Deed. The Parties will promptly execute all such documents (including by way of accession to this Deed) and do all such acts as shall be necessary to effect such treatment and ranking.
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Refinancing of Senior Debt. Senior Lender may, from time to time, without notice to the undersigned, assign or transfer any or all of the Senior Debt or any interest therein or permit another person (a "Refinancing Party") to extend credit to Borrower to enable Borrower to repay all or a portion of the Senior Debt (a "Refinancing"), and, notwithstanding any such assignment, transfer or Refinancing or any subsequent assignment, transfer or Refinancing, such Senior Debt shall be and remain Senior Debt for the purposes of this Agreement, and every immediate and successive assignee or transferee of any of the Senior Debt or of any interest therein, including, without limitation, any Refinancing Party, shall, to the extent of the interest of such assignee, transferee or Refinancing Party in the Senior Debt, be entitled to the benefits of this Agreement to the same extent as if such assignee, transferee or Refinancing Party were Senior Lender. Borrower and Subordinated Lender agree to execute a subordination agreement in substantially the same form as this Agreement in favor of the Refinancing Party upon request by Senior Lender.
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Refinancing of Senior Debt. In the event that any Person (a “Refinancing Senior Creditors”) at any time hereafter extends credit to the Company and the proceeds of such extension of credit are applied to the payment and performance in full of all of the Senior Debt, then all indebtedness and liabilities of the Company to the Refinancing Senior Creditors (the “Refinanced Debt”) shall be entitled to the benefits of this Agreement to the same extent as the Senior Debt and the Senior Creditor, provided that such Refinancing shall not (i) impose a final maturity date of the Refinanced Debt or any other scheduled date for the payment of principal or premium payable in respect of the Refinanced Debt which is later than the earliest Repurchase Date, (ii) increase the maximum principal amount of the Refinanced Debt in excess of the Maximum Senior Debt Amount, (iii) provide for a cash interest rate or any other payment with respect to the Refinanced Debt that is scheduled to be due after the first Repurchase Date, (iv) include any redemption or call premium in excess of 2% plus the redemption or call premiums then provided under the Senior Debt, (v) alter the subordination provisions with respect to the Subordinated Debt, or (vi) directly prohibit or restrict the payment of principal of, premium on, or other amounts payable with respect to, the Subordinated Debt, or materially adversely effect the Subordinated Creditor’s or the Noteholders’ remedies under the Subordinated Debt Documents in each case in a manner that is more restrictive than the prohibitions and restrictions contained in this Agreement and the Senior Note Documents at the time of such refinancing. The Subordinated Creditor and the Company shall promptly execute and deliver any agreement which the Refinancing Senior Creditors shall reasonably request with respect thereto confirming the terms and conditions of this Agreement in favor of the Refinancing Senior Creditors. Any reference contained in this Agreement to the “Senior Creditor” shall be deemed to include any holder of Senior Debt at any time, including, without limitation, any Refinancing Senior Creditor.
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Refinancing of Senior Debt. In the event that the Company incurs Indebtedness to refinance and pay in full all principal, interest and other accrued and outstanding amounts under the Senior Debt, and so long as no Default exists, the Purchasers covenant and agree to reasonably cooperate in the execution of a subordination agreement with such new lender with respect to such new Indebtedness on similar terms as set forth in the Notes with respect to the Senior Debt; provided, however, that such new Indebtedness may not exceed $16,000,000 in the aggregate. Purchasers agree to be bound by the provisions of Section 3 of the Notes for the benefit of the Senior Lender and the provisions thereof are hereby incorporated herein by this reference.
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Refinancing of Senior Debt. In the event that any person(s) (“Refinancing Senior Lenders”) at any time hereafter extends credit to Company and the proceeds of such extension of credit are applied to the payment and performance in full of all of the Senior Debt, then all indebtedness and liabilities of Company to the Refinancing Senior Lenders shall be entitled to the benefits of this Agreement to the same extent as the Senior Debt and Senior Creditor, provided such Refinancing Senior Lenders agree in writing to be bound hereby, and Subordinated Creditors and Company shall promptly execute and deliver any agreement which the Refinancing Senior Lenders shall reasonably request with respect thereto confirming the terms and conditions of this Agreement in favor of the Refinancing Senior Lenders. Any reference contained in this Agreement to “Senior Creditor” shall be deemed to include any holder of Senior Debt at any time, including, without limitation, any Refinancing Senior Lender.
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Refinancing of Senior Debt. The Junior Creditor agrees, subject to clause 15.2, that:
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Refinancing of Senior Debt. Each of the Subordinated Parties agrees that, subject to clause 17.2:
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Refinancing of Senior Debt. At the Closing, subject to the satisfaction of the conditions set forth in Section 8.1 and Section 8.3 and subject to the terms and conditions set forth in Section 2.1, the Buyer will provide funds or financing to the Companies sufficient to retire in full the Companies’ existing bank facilities listed on Schedule 7.9. The Funded Debt Amount shall be paid on the Closing Date (i) entirely to the Senior Lenders to the extent that an amount at least equal to the Funded Debt Amount is owed to the Senior Lenders on the Closing Date under the credit facilities listed on Schedule 2.1(a)(i), or (ii) otherwise, the entire amount owed under such credit facilities shall be paid to the Senior Lenders and the difference between the Funded Debt Amount and such amount shall be paid to the Companies. In no event shall the indebtedness under that certain Amended and Restated Floor Plan Credit Agreement, dated as of July 31, 2002, by and among Lazy Days, Banc of America Specialty Finance, Inc. and KeyBank National Associations at the Closing exceed $50,000,000.
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Refinancing of Senior Debt. The Company has received a commitment letter from a financing source for the purpose of financing the Standalone Transaction, a true copy of which is attached hereto as Exhibit J.
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Related to Refinancing of Senior Debt

  • Designation of Senior Debt Designate any Indebtedness (other than the Indebtedness under the Loan Documents) of the Company or any of its Restricted Subsidiaries as “Designated Senior Debt” (or any similar term) under, and as defined in, any documentation evidencing any other Indebtedness of the Company or any of its Restricted Subsidiaries in which such concept is applicable.

  • Notes Subordinate to Senior Indebtedness The Company covenants and agrees, and each Holder of Notes, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article 11, the Indebtedness represented by the Notes and the payment of the principal of, premium, if any, and interest on the Notes are hereby expressly made subordinate and subject in right of payment as provided in this Article 11 to the prior payment in full in cash or Cash Equivalents or, as acceptable to the holders of Senior Indebtedness, in any other manner, of all Senior Indebtedness. This Article 11 shall constitute a continuing offer to all Persons who, in reliance upon such provisions, become holders of or continue to hold Senior Indebtedness; and such provisions are made for the benefit of the holders of Senior Indebtedness; and such holders are made obligees hereunder and they or each of them may enforce such provisions.

  • Notes Subordinated to Senior Indebtedness The Company covenants and agrees and the Trustee and each Holder of the Notes, by its acceptance thereof, likewise covenants and agrees, that all Notes shall be issued subject to the provisions of this Article Ten; and the Trustee and each person holding any Note, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Notes by the Company shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents of all Obligations on the Senior Indebtedness; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Indebtedness, and that each holder of Senior Indebtedness whether now outstanding or hereinafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Indebtedness in reliance upon the covenants and provisions contained in this Indenture and the Notes.

  • Additional Senior Debt To the extent, but only to the extent permitted by the provisions of the then extant Secured Credit Documents, the Borrower may incur additional indebtedness after the date hereof that is secured on an equal and ratable basis by the Liens securing the First-Lien Obligations (such indebtedness referred to as “Additional Senior Class Debt”). Any such Additional Senior Class Debt may be secured by a Lien and may be Guaranteed by the Grantors on a senior basis, in each case under and pursuant to the Additional First-Lien Documents, if and subject to the condition that the Authorized Representative of any such Additional Senior Class Debt (each, an “Additional Senior Class Debt Representative”), acting on behalf of the holders of such Additional Senior Class Debt (such Authorized Representative and holders in respect of any Additional Senior Class Debt being referred to as the “Additional Senior Class Debt Parties”), becomes a party to this Agreement as an Authorized Representative by satisfying the conditions set forth in clauses (i) through (iv) of the immediately succeeding paragraph. In order for an Additional Senior Class Debt Representative to become a party to this Agreement as an Authorized Representative, (i) such Additional Senior Class Debt Representative, each Collateral Agent, each Authorized Representative and each Grantor shall have executed and delivered a Joinder Agreement (with such changes as may be reasonably approved by the Collateral Agents and Additional Senior Class Debt Representative) pursuant to which such Additional Senior Class Debt Representative becomes an Authorized Representative hereunder, and the Additional Senior Class Debt in respect of which such Additional Senior Class Debt Representative is the Authorized Representative constitutes Additional First-Lien Obligations and the related Additional Senior Class Debt Parties become subject hereto and bound hereby as Additional First-Lien Secured Parties;

  • Notes Subordinated to Senior Debt The Company covenants and agrees, and each Holder of the Notes, by its acceptance thereof, likewise covenants and agrees, that all Notes shall be issued subject to the provisions of this Article Ten; and each Person holding any Note, whether upon original issue or upon registration of transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Notes by the Company shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents of all Obligations on or in respect of Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt, and that each holder of Senior Debt whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this Indenture and the Notes.

  • Securities Subordinate to Senior Indebtedness The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article, the payment of the principal of (and premium, if any) and interest (including any Additional Interest) on each and all of the Securities of each and every series are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Indebtedness.

  • Securities Subordinated to Senior Indebtedness The Company and each Holder of a Security, by his acceptance thereof, agree that (a) the payment of the principal of, premium (if any) and interest on and any Additional Amounts with respect to each and all the Securities and (b) any other payment in respect of the Securities, including on account of the acquisition or redemption of Securities by the Company, is subordinated, to the extent and in the manner provided in this Article Thirteen, to the prior payment in full of all Senior Indebtedness of the Company, whether outstanding at the date of this Indenture or thereafter created, incurred, assumed or guaranteed, and that these subordination provisions are for the benefit of the holders of Senior Indebtedness. This Article Thirteen shall constitute a continuing offer to all Persons who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the benefit of the holders of Senior Indebtedness, and such holders are made obligees hereunder and any one or more of them may enforce such provisions.

  • Designation as Senior Debt Designate all Secured Obligations as “Designated Senior Indebtedness” (or similar terms) under, and defined in, the Subordinated Debt Documents.

  • Limitation on Senior Subordinated Indebtedness The Company will not Incur any Indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness and senior in right of payment to the Securities. No Guarantor will Incur any Indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness of such Guarantor and senior in right of payment to such Guarantor’s Subsidiary Guarantee.

  • Modifications of Terms of Senior Indebtedness Any renewal or extension of the time of payment of any Senior Indebtedness or the exercise by the holders of Senior Indebtedness of any of their rights under any instrument creating or evidencing Senior Indebtedness, including, without limitation, the waiver of default thereunder, may be made or done all without notice to or assent from the Holders of the Securities or the Trustee. No compromise, alteration, amendment, modification, extension, renewal or other change of, or waiver, consent or other action in respect of, any liability or obligation under or in respect of, or of any of the terms, covenants or conditions of any indenture or other instrument under which any Senior Indebtedness is outstanding or of such Senior Indebtedness, whether or not such release is in accordance with the provisions of any applicable document, shall in any way alter or affect any of the provisions of this Article Sixteen or of the Securities relating to the subordination thereof.

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