Senior Debt Loan definition

Senior Debt Loan means a Loan which (a) has a risk rating equal to or greater than 5.5 (or the equivalent of a rating greater than B/B2 by S&P and Moody’s respectively), as determined by the Servicer’s risk rating model and (b) is not subordinated to any other indebtedness of the applicable Obligor.
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Senior Debt Loan means a Loan which (a) has a risk rating equal to or greater than 5.5 (or the equivalent of a rating greater than B/B2 by S&P and ▇▇▇▇▇’▇ respectively), as determined by the Servicer’s risk rating model and (b) is not subordinated to any other indebtedness of the applicable Obligor.
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Examples of Senior Debt Loan in a sentence

  • Without limiting the generality of the foregoing clause, each of the Senior Creditors may assign or otherwise transfer in accordance with the Senior Debt Loan Documents all or any portion of their respective rights and obligations under the Senior Debt Loan Documents to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to the Senior Creditors herein.

  • GMAC, in its capacity as “Lender Agent” and sole “Lender” under the Senior Debt Loan Agreement, agrees that (i) the requirements of Sections 4.01 and 4.02 shall be an “Account Exception” for purposes of the Senior Debt Loan Agreement, and (ii) such requirements shall not violate Section 7.01(l) of the Senior Debt Loan Agreement.

  • No authorization or approval or other action by, and no notice to filing with or license from, any Governmental Authority is required other than those already obtained as of the Effective Date or as contemplated in Section 5.2 or Section 5.3. The Senior Debt Loan Documents are legal, valid and binding obligations of the parties thereto, enforceable against such parties in accordance with its terms.

  • Obligee hereby agrees to lend to Obligor the sum of _____________ dollars ($__________) (“Loan Amount”), and Obligor does hereby borrow and promise to repay this Senior Debt Loan Amount and to be retired by the close of the Company’s next Senior Debt Funding of a minimum $3M (up to $5M) which is anticipated to be finalized within ninety (90) days of filing the SEC Form 10-KSB, by June 30, 2008 ("Due Date").

  • Ally Financial, in its capacity as “Lender Agent” and sole “Lender” under the Senior Debt Loan Agreement, agrees that (i) the requirements of Sections 4.01 and 4.02 shall be an “Account Exception” for purposes of the Senior Debt Loan Agreement, and (ii) such requirements shall not violate Section 7.01(l) of the Senior Debt Loan Agreement.

  • In the event of any conflict between the provisions of this Agreement and the provisions of any Senior Debt Loan Document or any Subordinated Debt Document, the provisions of this Agreement shall govern.

  • The Senior Debt Loan Documents set forth the entire agreement and understanding of the parties thereto relating to the Senior Debt Credit Facility, and there are no other agreements, arrangements or understandings, written or oral, relating to the matters covered thereby.

  • The execution, delivery and performance of the Senior Debt Loan Documents have been duly authorized by all necessary action (including, without limitation, the obtaining of any consent of stockholders or other holders of Equity Interests required by law or by any applicable corporate or other organizational documents) on the part of each such Person.

  • Promptly following the occurrence of such an event the Developer shall calculate the [Senior Debt Loan Life Cover Ratio.] The Agent and the Developer shall notify the County in writing as to the applicable calculations together with all relevant facts in order for the County to verify the accuracy of the calculation.

  • Borrowers have delivered to the Investors complete and correct copies of the Senior Debt Loan Documents, including all schedules and exhibits thereto.