Senior Debt means the principal of, premium, if any, interest (including all interest accruing subsequent to the commencement of any bankruptcy or similar proceeding, whether or not a claim for post-petition interest is allowable as a claim in any such proceeding) and rent payable on or in connection with, and all fees, costs, expenses and other amounts accrued or due on or in connection with, Indebtedness of the Company, whether outstanding on the date of this Indenture or thereafter created, incurred, assumed, guaranteed or in effect guaranteed by the Company (including all deferrals, renewals, extensions or refundings of, or amendments, modifications or supplements to, the foregoing), unless in the case of any particular Indebtedness the instrument creating or evidencing the same or the assumption or guarantee thereof expressly provides that such Indebtedness shall not be senior in right of payment to the Securities or expressly provides that such Indebtedness is “pari passu” or “ junior” to the Securities. Notwithstanding the foregoing, the term Senior Debt shall not include any Indebtedness of the Company to any Subsidiary of the Company. If any payment made to any holder of any Senior Debt or its Representative with respect to such Senior Debt is rescinded or must otherwise be returned by such holder or Representative upon the insolvency, bankruptcy or reorganization of the Company or otherwise, the reinstated Indebtedness of the Company arising as a result of such rescission or return shall constitute Senior Debt effective as of the date of such rescission or return.
Senior Debt means all indebtedness and other obligations of the Borrower, contingent or otherwise, to the Senior Creditor, now or hereafter existing, under or with respect to:
Senior Debt means the Notes and any Debt of the Company or its Subsidiaries that by its terms is not in any manner subordinated in right of payment to any other unsecured Debt of the Company or any Subsidiary.
Examples of Senior Debt in a sentence
Nothing in this Agreement shall in any way constitute the Province a guarantor of the Senior Debt Financing.
In exercising rights and remedies with respect to the Collateral, the Senior Representatives and the Senior Secured Parties may enforce the provisions of the Senior Debt Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion.
Such collective of Lenders may include any providers of the Senior Debt Financing as well as any monoline insurer or any other provider of credit enhancement in relation to the Senior Debt Financing, provided such collective is represented by a single trustee or other representative for purposes of dealing with the Province and the Contractor under the Direct Lender Agreement.
More Definitions of Senior Debt
Senior Debt with respect to any series of Securities shall have the meaning specified as contemplated by Section 301.
Senior Debt means the Obligations (as defined in the Senior Loan Agreement).
Senior Debt means, as of the date of any determination thereof, all Consolidated Debt, other than Subordinated Debt.
Senior Debt means all Debt outstanding from the Company to ComVest Capital LLC (the “ComVest Debt”), as of the date of this Note, and includes any increase in the amount of indebtedness owed to ComVest, and when it has been fully repaid, the ComVest Debt shall no longer be part of the Senior Debt calculation; and (ii) “Junior Debt” means all Debt, whether now or hereafter incurred or outstanding, other than the Senior Debt and this Note. "Debt" as to any person or entity (including the Company) (any such person or entity, the “Obligor”) means: (a) all obligations incurred by the Obligor in respect of borrowed money; (b) all obligations owing by the Obligor to the seller or lessor of any real or personal property under leases that are treated as "finance leases"; (c), or any other creditor, bank or person in respect of amounts paid under letters of credit, acceptances or other similar instruments; (d) any other obligations of the Obligor that constitute a balance sheet liability of the Obligor, from time to time; (e) all Guarantees issued by the Obligor in respect of any of the foregoing items of Debt; (f) all liabilities (xxxxxx or conditional), principal of and premium, if any, and interest (including without limitation, interest accruing or that would have accrued but for the filing of a bankruptcy, reorganization or other insolvency proceeding whether or not such interest constitutes an allowed claim in such proceeding) on, and any and all other fees, charges, expense reimbursement obligations, indemnities and other amounts owing or which may become owing (whether or not then payable) pursuant to the terms of, or any settlement or compromise of, all leases, accounts payable, trade debt, agreements, documents and instruments providing for, creating, securing, guaranteeing or evidencing or otherwise entered into in connection with all such debt; (g) all deferrals, renewals, extensions, refundings, replacements, refinancings and restructuring of and amendments, modification and supplements to any Debt described above. For purposes of this Paragraph 3, the term "Guarantee" means, as to any person, any obligation of such person guaranteeing or intended to guarantee any indebtedness, including without limitation leases, dividends, principal, premium, interest, penalties, fees, reimbursements, indemnifications, damages, and other expenses payable under the terms of the documentation governing such indebtedness.
Senior Debt means any Indebtedness incurred by the Company, unless the instrument under which such Indebtedness is incurred expressly provides that it is subordinated in right of payment to the Securities, provided that Senior Debt will not include (a) any liability for federal, state, local or other taxes owed or owing, (b) any Indebtedness owing to any Subsidiaries of the Company, (c) any trade payables or (d) any Indebtedness that is incurred in violation of this Indenture.
Senior Debt means the principal of and any premium and interest on (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company, whether or not such claim for post-petition interest is allowed in such proceeding) all Debt of the Company, whether incurred on or prior to the date of this Indenture or thereafter incurred, unless it is provided in the instrument creating or evidencing the same or pursuant to which the same is outstanding, that such obligations are not superior in right of payment to the Securities issued under this Indenture.
Senior Debt means the principal of (and premium, if any) and interest, if any (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company whether or not such claim for post-petition interest is allowed in such proceeding), on Debt, whether incurred on or prior to the date of this Indenture or thereafter incurred, unless, in the instrument creating or evidencing the same or pursuant to which the same is outstanding, it is provided that such obligations are not superior in right of payment to the Debentures or to other Debt which is pari passu with, or subordinated to, the Debentures; provided, however, that Senior Debt shall not be deemed to include (i) any Debt of the Company which when incurred and without respect to any election under section 1111(b) of the United States Bankruptcy Code of 1978, as amended, was without recourse to the Company; (ii) any Debt of the Company to any of its subsidiaries; (iii) Debt to any employee of the Company; (iv) Debt which by its terms is subordinated to trade accounts payable or accrued liabilities arising in the ordinary course of business to the extent that payments made to the holders of such Debt by the holders of the Debentures as a result of the subordination provisions of this Indenture would be greater than they otherwise would have been as a result of any obligation of such holders to pay amounts over to the obligees on such trade accounts payable or accrued liabilities arising in the ordinary course of business as a result of subordination provisions to which such Debt is subject; and (v) Debt which constitutes Subordinated Debt.