Senior Charges definition

Senior Charges means all Liens created or to be created by the Obligors in favour of the Senior Lender on the Senior Collateral and do not and will not include Liens over the First Lien Junior Collateral.
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Senior Charges means the legal charges and debentures, the security agreements and the other instruments of which details are specified in the Second Schedule and the assignments, mortgages, charges and other security interests created thereby or pursuant thereto and made between the Borrower and the Security Agent as agent and trustee for the Senior Creditors and any other security interest now or hereafter securing any Senior Indebtedness including (for the avoidance of doubt) any fixed charge arising on the Crystallisation of any charges created thereby;
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Senior Charges means, with respect to any Person for any fiscal period, (a) the aggregate of all Interest Expense paid or accrued during such period, plus (b) scheduled payments of principal with respect to Indebtedness during such period, less (c) the amount of interest accrued on any Subordinated Debt during such period.
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Examples of Senior Charges in a sentence

  • Nothing contained in this Clause 8 shall as between the Senior Creditors and the Borrower vary any matters agreed between the Senior Creditors and the Borrower and contained in the Loan Agreement or the Senior Charges.

  • If any Senior Creditor wishes pursuant to the powers in the Senior Charges to appoint a Receiver of the Borrower or to exercise its power of sale under or otherwise enforce any of the Senior Charges or wishes the Security Agent to do so it shall forthwith inform the other Creditors and endeavour to agree with them on the method by which the Charges will be enforced.

  • Forthwith upon any discharge of the Lenders' Security Interest in respect of any such property or assets the Security Agent will unless and until otherwise instructed by the Hedge Provider hold such assets for the Hedge Provider in accordance with the Senior Charges.