Senior Debt Designation Sample Clauses

Senior Debt Designation. No indenture or other loan documentation to which the Borrower is a party contains a requirement that the Obligations be designated as “senior debt” in order to be treated as such under such indenture or other loan documentation.
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Senior Debt Designation. The Company will not designate any Indebtedness as "Designated Senior Debt" pursuant to the terms of the New Subordinated Indenture (or make any comparable designation with respect to any Qualified Indenture). Parent will not, and the Company and Parent will not permit any Subsidiary to, designate any Indebtedness as "Guarantor Designated Senior Debt" pursuant to the terms of the New Subordinated Indenture (or make any comparable designation with respect to any Qualified Indenture).
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Senior Debt Designation. The Trustee, on behalf of itself and each Noteholder, hereby acknowledges and agrees that: (a) the Obligations under the Senior Credit Agreement constitute “First-Priority Lien Obligations” (as such term is defined in the Indenture) and (b) the Senior Credit Agreement constitutes the “Credit Agreement” (as such term is defined in the Indenture). In addition, and for the avoidance of doubt, the Trustee hereby acknowledges that execution and delivery of this Agreement shall serve as the Company’s notice to the Trustee of its designation of all Obligations under or in respect of the Senior Lender Documents as First-Lien Indebtedness pursuant to and as contemplated by Section 5.6 of the Prior Intercreditor Agreement. • Enforcement.
Sample 1
Senior Debt Designation. 121 Section 8.25. Amendment of Constitutive Documents............................................................. 121 Section 8.26. Partnerships, Etc. ............................................................................. 121 ARTICLE IX
Sample 1
Senior Debt Designation. The Company shall not designate any Indebtedness as "Designated Senior Debt" pursuant to the terms of the Existing Subordinated Notes Indenture or the New Subordinated Notes Indenture (or make any comparable designation with respect to any Subordinated Debt Notes Document). The Company shall not permit any of its Subsidiaries to, designate any Indebtedness as "Guarantor Designated Senior Debt" pursuant to the terms of the Existing Subordinated Indenture or the New Subordinated Notes Indenture (or make any comparable designation with respect to any Subordinated Debt Document).
Sample 1
Senior Debt Designation. In the event that the Borrower or any other Credit Party shall at any time issue or have outstanding any Indebtedness that by its terms is subordinated to any other Indebtedness of the Borrower or such other Credit Party, the Borrower or such other Credit Party, as applicable, will take all actions necessary to cause the Obligations to constitute senior indebtedness (however denominated) in respect of such subordinated Indebtedness and to enable the Lenders or the Agent on their behalf to exercise any payment blockage or other remedies available or potentially available to lenders of senior indebtedness under the terms of such subordinated Indebtedness. Without limiting the foregoing, the Obligations are hereby designated as "senior indebtedness" and, to the extent applicable, as "designated senior indebtedness" in respect of all such subordinated Indebtedness and are further given all such other designations as shall be required under the terms of any such subordinated Indebtedness in order that the Lenders or the Agent on their behalf may exercise any payment blockage or other remedies available or potentially available to lenders of senior indebtedness under the terms of such subordinated Indebtedness.
Sample 1

Related to Senior Debt Designation

  • Senior Debt The Obligations constitute “Senior Indebtedness” (or any comparable term) or “Senior Secured Financing” (or any comparable term) under, and as defined in, the documentation governing, any Indebtedness that is subordinated to the Obligations expressly by its terms.

  • Senior Debt Status The Obligations of each Loan Party under this Agreement, the Notes, the Guaranty Agreement and each of the other Loan Documents to which it is a party do rank and will rank at least pari passu in priority of payment with all other Indebtedness of such Loan Party except Indebtedness of such Loan Party to the extent secured by Permitted Liens. There is no Lien upon or with respect to any of the properties or income of any Loan Party or Subsidiary of any Loan Party which secures indebtedness or other obligations of any Person except for Permitted Liens.

  • Senior Indebtedness The Loans, the Obligations and the Guaranteed Obligations constitute “senior indebtedness” (or any other similar or comparable term) under and as defined in the documentation governing any Indebtedness of the Credit Parties that is subordinated in right of payment to any other Indebtedness thereof.

  • Rights of the Trustee; Holders of Senior Indebtedness The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XV in respect of any Senior Indebtedness at any time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XV, and no implied covenants or obligations with respect to the holders of such Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of such Senior Indebtedness and, subject to the provisions of Article VI of this Indenture, the Trustee shall not be liable to any holder of such Senior Indebtedness if it shall pay over or deliver to Securityholders, the Company or any other Person money or assets to which any holder of such Senior Indebtedness shall be entitled by virtue of this Article XV or otherwise. Nothing in this Article XV shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.6.

  • Senior Indebtedness Status The Obligations of each Credit Party under this Agreement and each of the other Financing Documents ranks and shall continue to rank at least senior in priority of payment to all Debt that is contractually subordinated to the Obligations of each such Person under this Agreement and is designated as “Senior Indebtedness” (or an equivalent term) under all instruments and documents, now or in the future, relating to all Debt that is contractually subordinated to the Obligations under this Agreement of each such Person.

  • 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.

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