Junior Obligation definition

Junior Obligation means the Shares, and any other class of the Issuer’s share capital and any instrument or other obligation (including without limitation any preference shares) issued or guaranteed by the Issuer that ranks or is expressed to rank junior to the Capital Securities by operation of law or contract.

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Junior Obligation means any ordinary shares of the Issuer and any class of the Issuer’s share capital and any other instruments or securities (including without limitation any preference shares, preferred units or subordinated perpetual securities) issued, entered into or guaranteed by the Issuer that ranks or is expressed to rank, whether by its terms or by operation of law, junior to the Perpetual Securities; and

Junior Obligation means ordinary shares of any class of the Issuer;

Examples of Junior Obligation in a sentence

• In the event of the liquidation of the Borrower or the distribution of any of its assets or the securities of any successor on account of any liquidation, bankruptcy, receivership, reorganization, assignment for the benefit of creditors or similar proceeding, the Guarantor shall not be entitled to any payment or distribution on account of any Junior Obligation until all Obligations have been satisfied in full.

• Junior Lienholders agree that the balance of such proceeds remaining after such restoration, or all of such proceeds in the event Bank elects, in accordance with Colorado law, not to release any such proceeds for any such restoration, shall be applied to the payment of amounts due under the Senior Loan Documents until all such amounts have been paid in full, prior to being applied to the payment of any amounts due under the Junior Obligation Documents.

• The due date for any payment or performance of any Junior Obligation shall be deemed to be extended during any period in which such payment or performance is prevented by the provisions of this Agreement, and no cause of action against the Company will accrue to the Junior Creditor or any subsequent holder of the Junior Obligations during the continuance of any such extension.

• Borrower must make any payments under the Junior Obligation Documents that may be required by federal law.

• Further, any change to the Junior Obligation Documents and the Senior Loan Documents that results in an increase in the interest rate, an increase of the total indebtedness, an acceleration of the amortization or payment schedule, or any changes that would preclude or impair a reasonable opportunity to cure any defaults by the Borrower under the Junior Obligations Documents and Senior Loan Documents shall not be effective without the prior written consent of HUD.

More Definitions of Junior Obligation

Junior Obligation means (i) any Share and (ii) any class of the Issuer’s share capital and any instrument or security (including without limitation any preference shares) issued, entered into or guaranteed by the Issuer which ranks or is expressed to rank, by its terms or by operation of law, junior to a Capital Security;

Junior Obligation means the Shares, and any other class of DSB’s share capital and any instrument or other obligation issued or guaranteed by DSB that ranks or is expressed to rank junior to the Dated Subordinated Notes by operation of law or contract;

Junior Obligation means the ordinary shares of the Issuer or any other securities ranking pari passu therewith;

Junior Obligation means any class of equity capital in KIT and any instrument or security issued, entered into or guaranteed by the Issuer, other than any instrument or security (including without limitation any preferred units) ranking in priority in payment and in all other respects to the ordinary units of KIT.

Junior Obligation means all classes of share capital of the Issuer, any Tier 1 Capital Instruments, and any instrument or other obligation (including without limitation any preference shares) issued, entered into, or guaranteed by the Issuer that ranks or is expressed to rank junior to the Bonds by operation of law or contract.

Junior Obligation means any class of equity capital in Keppel REIT and any instrument or security issued, entered into or guaranteed by the Keppel REIT Trustee, other than any instrument or security (including without limitation any preferred units) ranking in priority in payment and in all other respects to the ordinary units of Keppel REIT.

Junior Obligation means, in relation to the Issuer or the Guarantor, any of its ordinary shares and any class of its share capital and any other instruments or securities (including without limitation any preference shares or subordinated perpetual securities) issued, entered into or guaranteed by the Issuer or, as the case may be, the Guarantor that ranks or is expressed to rank, whether by its terms or by operation of law, junior to the Perpetual Securities or, as the case may be, the Guarantee (as defined in the Trust Deed); and