Senior Default definition

Senior Default means any Senior Payment Default or Senior Covenant Default.

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Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.

Senior Default means any “Event of Default” under the Senior Debt Documents.

Examples of Senior Default in a sentence

• Upon any such cure or waiver of such Senior Default, the Company may pay to the Holder all sums then due and payable under this Subordinated Note.

• Upon the occurrence of any Senior Default and unless and until such Senior Default shall have been cured in a manner satisfactory to the holder of the Senior Indebtedness or effectively waived in writing by such holder, no direct or indirect payment (in cash, property, securities or by set-off or otherwise) shall be made of or on account of this Subordinated Note or in respect of any redemption, retirement, purchase or other acquisition of this Subordinated Note.

• The Trustee and the Obligors shall provide the Junior Creditors and any Junior Trustee with a Senior Default Notice promptly upon the occurrence of each Senior Default, which notice shall specify the date of first occurrence thereof and the nature of such Senior Default (including whether it constitutes a Senior Non-Payment Default or a Senior Payment Default), and the Trustee shall notify the Junior Creditors and any Junior Trustee promptly in the event such Senior Default is cured or waived.

• At any time when a Senior Default does not exist or would not be caused thereby, any Debtor may make, and the Junior Creditor may receive, Permitted Payments.

• Following the occurrence of any Senior Default referred to in paragraphs (a) or (b) of this Clause 5.2, any Hedge Counterparty may suspend any payments due from it to any Obligor under any Hedging Arrangement to which it is a party.

More Definitions of Senior Default

Senior Default means (i) any default or event of default under any instrument creating any Senior Indebtedness, or (ii) any event which would, with giving of notice, lapse of time, or both, or subject to any other condition subsequent to such event, constitute such a default or event of default.

Senior Default means any “Event of Default” under the Senior Debt Documents, or any condition or event that, after notice or lapse of time or both, would constitute such an Event of Default if that condition or event were not cured or removed within any applicable grace or cure period set forth therein.

Senior Default means a Payment Default or a Non-payment Default.

Senior Default means a Default under (and as defined in) the Senior Facilities Agreement.

Senior Default means a Default as defined in the Senior Credit Agreement;

Senior Default means any "Event of Default" as defined in the Senior Loan Agreement.

Senior Default means any “Default,” “Event of Default” or any condition or event that (with or without notice, lapse of time, or both) would permit Holders of Senior Debt to accelerate the maturity of such Senior Debt if that condition or event were not cured or removed within any applicable grace or cure period set forth therein.