Second Priority Securities definition

Second Priority Securities means the U.S.$140,000,000 aggregate original principal amount of Second Priority Senior Secured Notes due 2013 issued by the Company pursuant to the Second Priority Indenture, as the same may be amended, supplemented, or otherwise modified from time to time in accordance with the terms thereof and of the Second Priority Indenture.
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Second Priority Securities all Second Priority Senior Secured Notes due 2013 issued by Satmex pursuant to the Second Priority Indenture, as the same may be amended, supplemented or otherwise modified from time to time, including any Additional Second Priority Securities.
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Second Priority Securities has the meaning assigned to that term in the First Priority Indenture.
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Examples of Second Priority Securities in a sentence

  • The Common Representative shall not be liable with respect to any action taken by it, or omitted to be taken by it, in accordance with the direction of the First Priority Indenture Trustee, the Second Priority Indenture Trustee, or the Beneficial Owners of the Second Priority Securities to the extent such direction is expressly permitted or required in Article 4 hereof.

  • If no Interest Period is specified with respect to any requested LIBOR Borrowing, then Borrower shall be deemed to have selected an Interest Period of one month’s duration.

  • The First Priority Indenture Trustee and the Second Priority Indenture Trustee and the Beneficial Holders of the First Priority Securities or Second Priority Securities who hold in the aggregate more than fifty percent (50%) of the outstanding principal amount of the First Priority Securities or Second Priority Securities, as applicable, shall each have the right, but not the obligation, to pay any such amounts not paid by the Company in accordance with this Agreement.

  • Such waiver and release are part of the consideration for the issuance of the Second Priority Securities.

  • This Agreement shall be solely for the benefit of the Pledgee and the holders of Second Priority Obligations and Second Priority Securities represented thereby, the Pledgor, and no other person or entity shall be a third-party beneficiary hereof.

  • In any matter requiring the consent or approval of the Requisite Second Priority Holders hereunder or under any other Second Priority Document, the Indenture Trustee shall communicate with the Second Priority Holders in accordance with the Second Priority Securities Facility and shall provide to the Collateral Trustee a certificate as to the principal amount of Second Priority Securities held by the Second Priority Holders who have given their consent or approval to such matter.

  • To secure the Company’s payment obligations in this Section 7.7, the Trustee shall have a Lien prior to the Second Priority Securities on all assets held or collected by the Trustee, in its capacity as Trustee, except assets held in trust to pay principal and premium, if any, of or interest (or Additional Amounts, if any) on particular Second Priority Securities.

  • The Company shall approve the form of the Second Priority Securities and any notation, legend or endorsement thereon.

  • The undersigned Second Priority Guarantor hereby agrees to submit to the jurisdiction of the courts of the State of New York in any action or proceeding arising out of, connected with, or relating to this Guarantee, the Second Priority Indenture, the Second Priority Securities, or any other Second Priority Document.

  • A copy of each report sent to Second Priority Holders under this Section 7.6 shall also be sent to the Company and filed with the SEC and each securities exchange, if any, on which the Second Priority Securities are listed.


More Definitions of Second Priority Securities

Second Priority Securities has the meaning assigned to such term in the preamble of this Indenture, and includes the Initial Second Priority Securities and any Additional Second Priority Securities.
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Second Priority Securities shall have the meaning ascribed to it in the preamble.
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Related to Second Priority Securities

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

  • First Priority Secured Parties means, with respect to each Type of Common Collateral, the First Priority Representative and the holders of the First Priority Obligations.

  • Second Priority means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document, that such Lien is the only Lien to which such Collateral is subject, other than any Permitted Lien.

  • Security, Securities shall have the meaning set forth in Section 2(1) of the Securities Act;

  • Second Priority Debt means any Indebtedness of the Borrower or any other Grantor guaranteed by the Guarantors (and not guaranteed by any Subsidiary that is not a Guarantor), including the Initial Second Priority Debt, which Indebtedness and guarantees are secured by the Second Priority Collateral on a pari passu basis (but without regard to control of remedies, other than as provided by the terms of the applicable Second Priority Debt Documents) with any other Second Priority Debt Obligations and the applicable Second Priority Debt Documents which provide that such Indebtedness and guarantees are to be secured by such Second Priority Collateral on a subordinate basis to the Senior Debt Obligations (and which is not secured by Liens on any assets of the Borrower or any other Grantor other than the Second Priority Collateral or which are not included in the Senior Collateral); provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each Senior Debt Document and Second Priority Debt Document and (ii) except in the case of the Initial Second Priority Debt hereunder, the Representative for the holders of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying the conditions set forth in, Section 8.09 hereof. Second Priority Debt shall include any Registered Equivalent Notes and Guarantees thereof by the Guarantors issued in exchange therefor.