Senior Obligations definition

Senior Obligations is defined in Section 5.1 of this Agreement.
Senior Obligations has the meaning set forth in Section 5.1.

Examples of Senior Obligations in a sentence

  • Senior Lender may extend, renew, modify, or amend the Senior Obligations and any of the Senior Loan Documents, and release, transfer, assign, sell, or exchange any security therefor and otherwise deal freely with Borrower to the same extent as could any person, all without notice to or consent of Subordinate Lender and without affecting the liabilities and obligations of Subordinate Lender.

  • As long as any portion of the Senior Obligations shall remain outstanding, the sole remedy of the holder of the Subordinate Loan Documents, in the event of any default under the Subordinate Loan Documents, shall be to pay off (or to purchase at par, without warranty or recourse) the Senior Loan and the Senior Loan Documents as a condition to, and prior to asserting, any rights or remedies under the Subordinate Loan Documents.

  • The priorities herein specified are applicable irrespective of the time of creation of the Senior Obligations or the Subordinate Obligations.

  • The RRIF Lien is in full force and effect and is not subordinate or junior to any other Liens in respect of the Pledged Taxes and the Pledged Taxes Accounts except (i) to the extent the Pledged Taxes and Pledged Taxes Accounts are pledged for the benefit of the Senior Obligations, and (ii) to the extent such other Liens are entitled to priority as a matter of law.

  • The RRIF Lien granted to the RRIF Lender pursuant to the RRIF Loan Documents shall be subordinate only to the pledge of the Pledged Taxes and the Pledged Taxes Accounts for the benefit of the Senior Obligations.


More Definitions of Senior Obligations

Senior Obligations means (a) with respect to any ABL Priority Collateral, all ABL Obligations and (b) with respect to any Term Loan Priority Collateral, all Term Loan Obligations.
Senior Obligations means all obligations of the Issuer that are unsubordinated or that are subordinated and do not constitute either Junior Obligations or Parity Obligations.
Senior Obligations shall have the meaning given to the term “Obligations” in the Credit Agreement (and shall include, without limitation, all interest accruing after the commencement of any bankruptcy, insolvency, receivership or similar proceeding at the rate provided in the governing documentation, whether or not such interest is an allowed claim in such proceeding).
Senior Obligations means all obligations of the Issuer, issued directly or indirectly by it, other than Parity Obligations and Junior Obligations;
Senior Obligations means all unsubordinated payment obligations of the Issuer (including payment obligations to the Issuer's depositors in respect of their due claims) and all subordinated payment obligations (if any) of the Issuer except Junior Obligations or Pari Passu Obligations;
Senior Obligations means, collectively, the unpaid principal of and interest on the Senior Loan and all other obligations and liabilities of the Borrower Entities to the Senior Lender (including interest accruing at the then applicable rate after the maturity (including by acceleration) of the Senior Loan and interest accruing at the then applicable rate after the commencement of any Reorganization Proceeding, whether or not a claim for post-filing or post-petition interest is allowed in any such Proceeding), whether absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Senior Loan Documents, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including all fees and disbursements of counsel to the Senior Lender that are required to be paid by the Borrower or any other party pursuant to the terms of the Senior Loan Documents). In no event shall the term “Senior Obligations” include any of the Subordinated Obligations. “Subordinated Obligations” shall mean, collectively, the unpaid principal of and interest on the Subordinated Loan and all other obligations and liabilities of the Borrower or any other party to the Subordinated Lender (including interest accruing at the then applicable rate after maturity (including by acceleration) of the Subordinated Loan and interest accruing at the then applicable rate after the commencement of any Reorganization Proceeding, whether or not a claim for post-filing or post-petition interest is allowed in such Proceeding), whether absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Subordinated Loan Documents, whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including all fees and disbursements of counsel to the Subordinated Lender that are required to be paid by the Borrower or any other party pursuant to the terms of the Subordinated Loan Documents). In no event shall the term “Subordinated Obligations” include any of the Senior Obligations.
Senior Obligations has the meaning ascribed to it in Section 12.9(a).