Senior Subordinated Note Clause Samples
A Senior Subordinated Note is a type of debt instrument that ranks below senior debt but above other subordinated obligations in terms of claims on assets and repayment priority. In practice, this means that if the issuer defaults or is liquidated, holders of senior subordinated notes are paid only after all senior debt holders have been satisfied, but before junior subordinated or equity holders. This clause is essential for clarifying the order of repayment among creditors, thereby allocating risk and helping investors understand their position in the event of financial distress.
Senior Subordinated Note. The Senior Subordinated Note issued in the name of HCIC duly executed by the Company;
Senior Subordinated Note. The remainder of the Purchase Price shall be paid by the execution and delivery by Buyer to Seller of the Senior Subordinated Note of Buyer in the principal amount of $1,000,000 substantially in the form of Exhibit A attached hereto (the "Senior Subordinated Note").
Senior Subordinated Note. A senior subordinated note in the original principal amount of $1,000,000 payable to IBF in the form of Exhibit 1.6 b.(iii)-1 hereto (the "Senior Subordinated Note") executed by the Purchaser and the Surviving Corporation. The Purchaser's and the Surviving Corporation's obligations under the Senior Subordinated Note shall be secured pursuant to a security agreement to be executed by the Purchaser and the Surviving Corporation substantially in the form of Exhibit 1.6 b.(iii)-2 hereof (the "Security Agreement"), a pledge agreement to be executed by the Purchaser and the Surviving Corporation substantially in the form of Exhibit 1.6 b.(iii)-3 hereof (the "Pledge Agreement") and an intellectual property security agreement to be executed by the Purchaser and the Surviving Corporation substantially in the form of Exhibit 1.6 b.(iii)-4 hereof (the "IP Agreement").
Senior Subordinated Note. This Note and the principal and interest payable hereunder shall be wholly subordinate in right of payment to all obligations of the Company under the senior secured notes issued pursuant to that certain Trust Indenture Agreement dated as of June 1, 2004, between the Company and JPMorgan Chase Bank, and joined by MHW, Ltd., as collateral agent, and other senior debt subsequently incurred, subject to the limitations on Company indebtedness set forth in Section 10.5 of the Convertible Note Purchase Agreement.
Senior Subordinated Note. The Senior Subordinated Note issued in the name of Purchaser, duly executed by the Company;
Senior Subordinated Note. Borrowers shall have delivered to Agent copies of the Senior
(f) Agent and Lenders hereby consent to the Amendment to the Stockholders Agreement as attached as Exhibit 2.
Senior Subordinated Note