Examples of Senior Claimholder in a sentence
If any Senior Claimholder is required in any Insolvency Proceeding or otherwise to turn over, disgorge or otherwise pay to the estate of any Obligor any amount paid in respect of the Senior Obligations (a “Senior Recovery”), then such Senior Claimholder shall be entitled to a reinstatement of Senior Obligations with respect to all such recovered amounts, and all rights, interests, priorities and privileges recognized in this Agreement shall apply with respect to any such Senior Recovery.
Nothing contained in this Agreement shall preclude any of the Senior Claimholders from discontinuing the extension of credit to any Obligor (whether under the Senior Loan Documents or otherwise) or from taking (without notice to any Subordinated Claimholder, any Obligor, or any other Person) any other action in respect of the Senior Obligations or the Collateral which such Senior Claimholder is otherwise entitled to take with respect to the Senior Obligations or the Collateral.
If any Senior Claimholder is required in any Insolvency Proceeding or otherwise to turn over, disgorge or otherwise pay to the estate of any Grantor any amount paid in respect of Senior Lien Obligations (a “Recovery”), then such Senior Claimholders shall be entitled to a reinstatement of Senior Lien Obligations with respect to all such recovered amounts, and all rights, interests, priorities and privileges recognized in this Agreement shall apply with respect to any such Recovery.
Each Junior Collateral Agent, on behalf of itself and its Related Claimholders, also agrees that the Senior Collateral Agents and the other Senior Claimholders have no duty, express or implied, fiduciary or otherwise, to them in respect of the maintenance or preservation of the Collateral in which a Senior Claimholder has a Senior Lien, the Senior Obligations or otherwise.
Until the Discharge of Senior Obligations has occurred, if any Junior Collateral Agent or any other Junior Claimholders shall, at any time, receive any proceeds of any such insurance policy or any such award or payment in respect of Collateral in which a Senior Claimholder has a Senior Lien in contravention of this Agreement, it shall segregate and hold in trust and forthwith pay such proceeds over to the Directing Senior Collateral Agent in accordance with the terms of Section 4.2.
The Senior Collateral Agent acting pursuant to this Section 6.5 shall not have by reason of the Senior Collateral Documents, the Third Lien Collateral Documents, this Agreement or any other document or theory, a fiduciary relationship in respect of any Senior Collateral Agent, any Senior Claimholder, the Third Lien Collateral Agent or any Third Lien Claimholder.
The Subordinated Agent, for itself and on behalf of any such Subordinated Claimholders, promptly shall execute and deliver to each Senior Agent or the applicable Senior Claimholder such termination or amendment statements, releases, and other documents as such Senior Agent or such Senior Claimholder may reasonably request to effectively confirm such release.
Plaintiffs Lucas T., Ximena T., Jose T.C. and Valentina T.C. have suffered emotional harm as a result of spending the past ten months in ACS custody without a permanent family.
As a result, the scoring, which had been at “Awareness C“ level in the past, improved to a “Management B-” level for the first time.
Each Obligor agrees to be bound by the Subordination Agreement, and agrees that any event of default by any Obligor under any present or future instrument or agreement among any Obligor and any Subordinated Claimholder shall, to the extent specified in the Senior Loan Documents, constitute an immediate event of default under all present and future instruments and agreements among any Obligor and any Senior Claimholder.