Junior Secured Debt definition

Junior Secured Debt means Indebtedness permitted to be secured by a Lien on Collateral under Section 6.06 or any Flyer Miles Obligations.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Junior Secured Debt means Indebtedness of the Borrower or any Guarantor that is secured by a Lien on all or any portion of the Collateral (but not any assets that do not constitute Collateral) that is junior to the Lien in favor of the Collateral Agent on the Collateral.

Junior Secured Debt means any Obligations of the Issuer or a Note Guarantor that are:

Examples of Junior Secured Debt in a sentence

• The Pledgor hereby transfers, pledges and assigns to the Collateral Agent, and grants to the Collateral Agent for the ratable benefit of the New Junior Secured Debt Holders, if any, a second priority security interest in the Collateral.

• The security interest created hereby for the benefit of the Additional Debt Holders shall be released, in whole, as provided for in the relevant New Senior Secured Debt Document or New Junior Secured Debt Document, as the case may be.

• Purchaser shall assume the leases for the office space currently used by Sellers in connection with the operation of the Business and that are listed on Schedule 3.4 hereto.

• Borrower will not and will not permit any of its Restricted Subsidiaries directly or indirectly to enter into or assume any agreement (other than the Loan Documents and other than as provided in the Senior Note Documents as in effect on the Effective Date, the Junior Secured Debt, if any, and the Junior DIP Debt Loan Documents) prohibiting the creation or assumption of any Lien upon its properties or assets, whether now owned or hereafter acquired.

• The parties acknowledge and agree that this Agreement and the other Loan Documents do not constitute a novation, payment and reborrowing or termination of the Junior Secured Debt and that, as of the Effective Date, all such Junior Secured Debt will in all respects be continued and outstanding as Obligations under this Agreement with only the terms being modified from and after the Effective Date as provided in this Agreement, the Notes, if any, and the other Loan Documents.

More Definitions of Junior Secured Debt

Junior Secured Debt means any secured Indebtedness incurred in the form of one or more series of secured notes or secured loans that are secured by Liens on the Collateral ranking junior to the Liens securing the Obligations in accordance with the ABL Intercreditor Agreement. Junior Secured Debt will include any Registered Equivalent Notes issued in exchange therefor.

Junior Secured Debt means Indebtedness referred to in clause (2) of the definition of “Permitted Liens” that is secured by a Lien on Collateral under Section 6.06 (including, without limitation, the Co-Branded Secured Obligations).

Junior Secured Debt means the promissory notes issued to the Junior Secured Noteholders pursuant to the Junior Secured Note Purchase Agreements, but shall not include any obligations owing by the Petitioner to the Junior Secured Noteholders under the Restructuring Funding Note Agreement.

Junior Secured Debt means Indebtedness permitted to be incurred under Section 6.03(b)(21) and permitted to be secured by a Lien on Collateral under Section 6.06 (including, without limitation, the Co-Branded Secured Obligations).

Junior Secured Debt means (i) Indebtedness secured by a Lien on Collateral under Section 6.01(b) and (ii) any Refinancing Debt secured by a Lien on the Collateral that is junior to the Liens securing the Obligations and the other Pari Passu Senior Secured Debt pursuant to the Collateral Trust Agreement, so long as (1) such Refinancing Debt is permitted to be incurred and so secured under all applicable Secured Debt Documents and (2) such Refinancing Debt constitutes “Junior Lien Debt” as defined under, and in accordance with the terms of, the Collateral Trust Agreement; provided that, after giving effect to the incurrence of any such Indebtedness described in clause (i) or (ii), the Borrower shall be in compliance with Section 6.03.

Junior Secured Debt means Indebtedness referred to in clause (vii) of the definition of “Permitted Debt”.

Junior Secured Debt means Indebtedness incurred and outstanding in reliance on Section 8.1(k) [Indebtedness].