Senior Claims definition

Senior Claims means, (a) with respect to the RBL Priority Collateral, each of the First-Priority Lien Obligations secured by such Collateral and, (b) with respect to the Term/Notes Priority Collateral, each of the Second-Priority Lien Obligations secured by such Collateral.
Senior Claims means the aggregate amount of all claims admitted in the winding up or dissolution of the Issuer which are:
Senior Claims means the aggregate amount of all claims admitted to proof in the winding-up of the Issuer which are (i) claims of depositors (if any) of the Issuer; and (ii) claims of creditors in respect of Ordinary Unsecured Debts of the Issuer and all other obligations of the Issuer which are preferred by law to Secondary Unsecured Debts;

Examples of Senior Claims in a sentence

  • By virtue of such subordination, payments to a Noteholder will, in the event of the liquidation or bankruptcy of the Issuer or in the event of a Moratorium with respect to the Issuer, only be made after, and any set- off by a Noteholder shall be excluded until, all obligations of the Issuer resulting from Senior Claims have been satisfied.

  • Except as prohibited under 45 CFR §164.502(a)(5)(i) (prohibited use of genetic information for underwriting), underwriting, enrollment, premium rating and other activities relating to the creation, renewal or replacement of a contract of health insurance or health benefits, and ceding, securing or placing a contract for reinsurance of risk relating to claims for health care (including stop-loss insurance and excess of loss insurance);4.

  • By virtue of such subordination, payments to a Subordinated Noteholder will, in the event of the liquidation or bankruptcy of the Issuer or in the event of a Moratorium with respect to the Issuer, only be made after, and any set-off by a Subordinated Noteholder shall be excluded until, all obligations of the Issuer resulting from Senior Claims have been satisfied.

  • Junior Claimant hereby assents to any renewal, extension or postponement of the time of payment of Senior Claims or any other indulgence with respect thereto, to any increase in the amount of Senior Claims, to any substitution, exchange or release of collateral therefor and to the addition or release of any person primarily or secondarily liable thereon and assents to the provisions of any instrument, security or other writing evidencing Senior Claims.

  • The provisions of this Article X shall continue to be effective or shall be revived or reinstated, as the case may be, if at any time any payment of any of the Senior Claims is rescinded or must otherwise be returned by any Senior Claimant upon the insolvency, bankruptcy or reorganization of any Issuer Group Member, or otherwise, all as though such payment had not been made.


More Definitions of Senior Claims

Senior Claims means the claims of all creditors of the Issuer (including, without limiting the generality of the foregoing, all contingent and prospective claims, all claims in respect of deposits with or loans to the Issuer and all claims to interest thereon which are admitted to proof in the winding up of the Issuer but excluding all claims in respect of Subordinated Indebtedness and, for the avoidance of doubt, all claims in respect of Deferred Shares); and
Senior Claims means, collectively, (a) the principal of, and premium, if any, and interest on, the Senior Obligations (in each case, including, without limitation, any interest accruing thereon at the legal rate after the commencement of any Proceeding and any additional interest that would have accrued thereon but for the commencement of such Proceeding), and (b) all other Obligations of the Subordinated Debtor to the Senior Claimants, whether now existing or hereafter incurred or created, under or with respect to the Senior Claim Documents or any replacement, supplement to or refinancing of the Senior Obligations.
Senior Claims means (a) the principal of, and premium, if any, and ------------- interest on the Senior Secured Notes issued pursuant to the Indenture (including, without limitation, any interest accruing thereon at the legal rate after the commencement of any Proceeding and any additional interest that would have accrued thereon but for the commencement of such Proceeding); and (b) all other Obligations of Navy I to any Senior Claimants, whether now existing or hereafter incurred or created, under or with respect to the Indenture, the other Financing Documents and any related documents.
Senior Claims shall have the meaning given to such term in Section 2.1(a).
Senior Claims means the aggregate amount of all claims in respect of deposits with, or loans to, the Issuer, all claims of creditors in respect of Ordinary Non-Preferential Debts of the Issuer and all other obligations of the Issuer which are preferred by law to Secondary Non-Preferential Debts;
Senior Claims shall have the meaning set forth in Section 8.7.