Senior Loan definition
Examples of Senior Loan in a sentence
The P1 Administrative Agent shall advise each applicable Senior Lender of the details of an Interest Election Request and such Senior ▇▇▇▇▇▇’s portion of such resulting Senior Loan Borrowing no less than one Business Day before the effective date of the election made pursuant to such Interest Election Request.
Subject to Section 2.2 (with respect to Construction/Term Loan Borrowings) and Section 2.7 (with respect to Revolving Loan Borrowings) and Section 4.4(b), Section 5.1, and Section 5.2, the Senior Loans comprising each Senior Loan Borrowing initially shall be of the Type specified in the applicable Borrowing Notice.
This Agreement shall terminate and shall have no force and effect (except with respect to the provisions that expressly survive termination of this Agreement) if (a) all Obligations have been indefeasibly paid in full and all Senior Loan Commitments have been terminated and the P1 Administrative Agent shall have given the notice required by Section 2.9(a) (Payment in Full of Senior Secured Debt) of the Common Terms Agreement and (b) all Revolving LCs have been terminated or cancelled.
If such Senior Lender pays such corresponding amount (together with such interest), then such corresponding amount so paid shall constitute |US-DOCS\137622719.74|| such Senior ▇▇▇▇▇▇’s Senior Loan included in such Senior Loan Borrowing.
As of the Term Conversion Date, the TCF Senior Loan DSRA shall have been funded in cash and/or by one or more instruments of DSR Credit Support (as defined in the P1 Accounts Agreement) in accordance with the P1 Accounts Agreement in an amount equal to the Credit Agreement Debt Service Reserve Amount.