Senior Loans. The Fitch Discount Factor applied to senior, secured floating rate Loans made to corporate and other business entities ("Senior Loans") shall be the percentage specified in the table below opposite such Fitch Loan Category: Fitch Loan Category Discount Factor ------------------- --------------- A 115% B 130% C 152% D 370% Notwithstanding any other provision contained above, for purposes of determining whether a Fitch Eligible Asset falls within a specific Fitch Loan Category, to the extent that any Fitch Eligible Asset would fall within more than one of the Fitch Loan Categories, such Fitch Eligible Asset shall be deemed to fall into the Fitch Loan Category with the lowest applicable Fitch Discount Factor.
Senior Loans. The Fitch Discount Factor applied to senior, secured floating rate Loans made to corporate and other business entities ("Senior Loans") shall be the percentage specified in the table below opposite such Fitch Loan Category: Fitch Loan Category Discount Factor A 115% B 130% C 152% D 370%
Senior Loans. As used in this Section 10, the term "Senior Loans" shall mean all principal of and premium, if any, and interest (including post-petition interest during any proceeding under the Bankruptcy Code, whether or not allowed in such proceeding) on and fees, and expenses and all other obligations including, without limitation, Holdings' obligations as a guarantor and obligations to cash collateralize letters of credit, payable in connection with, all loans and financial accommodations from time to time outstanding under or in connection with the Credit Agreement. The Senior Loans shall continue to be Senior Loans and entitled to the benefits of these subordination provisions irrespective of any amendment, restatement, modification or waiver of any term of the Senior Loans or extension or renewal of the Senior Loans.
Senior Loans. “Senior Loans” are loans and loan participations (collectively, “Loans”) that are senior secured floating rate Loans. Senior Loans are made to corporations and other non-governmental entities and issuers. Senior Loans typically hold the most senior position in the capital structure of the issuing entity, are typically secured with specific collateral and typically have a claim on the assets and/or stock of the borrower that is senior to that held by subordinated debt holders and stockholders of the borrower. The proceeds of Senior Loans primarily are used to finance leveraged buyouts, recapitalizations, mergers, acquisitions, stock repurchases, dividends, and, to a lesser extent, to finance internal growth and for other corporate purposes. Senior Loans typically have rates of interest that are determined daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium or credit spread. Base lending rates in common usage today are primarily the London-Interbank Offered Rate (“LIBOR”), and secondarily the prime rate offered by one or more major U.S. banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.
Senior Loans. Borrower shall timely perform its obligations under the ------------ Senior Loan Documents and shall not cause or permit the occurrence of any default under any such document.
Senior Loans. Increased or decreased, as the case may be, 49% with respect to the "First Union Loan" and 51% with respect to the "MARC Equity") to the extent that on the Initial Closing Date the outstanding principal balance on the Existing Senior Loan for the applicable Group A Property or Group B Property is less or more than the amount of set forth on Schedule 9.15.6 hereto for such Group A Property or Group B Property.
Senior Loans. The aggregate principal amount of the Senior Loan Certificates shall amortize quarterly on each Interest Payment Date (the first of which being the first Interest Payment Date following the Delivery Date), as provided in Schedule 3(a)(i) hereto.
Senior Loans. Each and every representation and warranty of the Borrower made to the Senior Lender in connection with the Senior Loan, as amended from time to time as permitted hereunder (all of which are hereby incorporated by this reference herein), are true and correct.
Senior Loans. 12 10.3. Default in Respect of Senior Loans and the Notes.......... 12 10.4. Insolvency, etc........................................... 13 10.5.
Senior Loans. Pursuant to the Senior Credit Agreement, the Senior Lender has agreed to advance up to a maximum of $2,000,000 aggregate principal amount at any one time outstanding to the Debtor on a revolving credit basis (together with any modifications, renewals or refinancings thereof, "Senior Loans"). Pursuant to this Security Agreement, payment of the Senior Loans is secured by the grant by the Debtor of a first priority security interest in all the assets herein and all of the documents related thereto ("Collateral"), which constitute the Collateral that is now or hereafter owned by the Debtor and payment of the Obligations (as hereinafter defined) of the Debtor to the Secured Parties is secured by the grant by the Debtor of a second priority security interest in such Collateral. Pursuant to the terms of the Senior Credit Agreement, the note evidencing the Senior Loans must be paid in full on or before June 30, 1996. It is anticipated, however, that the Debtor will refinance its Obligations under the Senior Credit Agreement prior to June 30, 1996, pursuant to the terms of an agreement with a third party bank or financial institution providing for revolving credit loans secured by the Collateral. Such agreement shall be subject to the consent of the Purchasers, which consent shall not be unreasonably withheld, and the lender with respect thereto shall be granted a first perfected security interest in the Collateral on terms substantially equivalent to those set forth in this Agreement.
