Junior Charge definition

Junior Charge means the debenture details of which are specified in the Third Schedule and the assignments, mortgages, charges and other security interests created thereby or pursuant thereto and made between the Borrower and Cygnet and any other security interest now or hereafter securing any Junior Indebtedness including (for the avoidance of doubt) any fixed charge arising on the Crystallisation of any charges created thereby);
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Examples of Junior Charge in a sentence

  • Simultaneously with the execution of this Agreement, the Shareholders shall execute and deliver to the Company’s VP Finance, executed copies of the forms, notices and other documents required in order to remove the Shareholders Junior Charge upon such repayment or conversion.

  • Any amendment to the Junior Charge the Facility Letter or the Indemnity made or purported to be made without the consent of the Senior Creditors shall be void.

  • If there are any other terms relating to the Junior Indebtedness existing at the date hereof and not comprised in this Deed, the Facility Letter the Indemnity and the Junior Charge, such terms shall be of no further force and effect.

  • This Deed, the Facility Letter, and the Junior Charge and the Indemnity form the entire agreement as to the Junior Indebtedness.

  • Cygnet covenants with the Senior Creditors (while any Senior Indebtedness remains outstanding) not without the prior written specific consent of the Senior Creditors to take any step (whether under Clause 7 of the Junior Charge or otherwise) which would or might Crystallise the floating charge created under the terms of the Junior Charge provided that this Clause 12.2 shall not prevent Cygnet serving a Permitted Demand on the Borrower.

  • The Senior Creditors consent to the execution by the Borrower of the Junior Charge and, subject to the terms of this Deed, to the existence of the Junior Indebtedness.