Senior Obligations of the Guarantor definition

Senior Obligations of the Guarantor means all obligations of the Guarantor, including subordinated obligations of the Guarantor according to Spanish insolvency law, other than Parity Obligations of the Guarantor and Junior Obligations of the Guarantor;
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Senior Obligations of the Guarantor means all obligations of the Guarantor issued directly or indirectly by it (including, without limitation, any obligation of the Guarantor under any guarantee which ranks or is expressed to rank pari passu with the most senior present or future preferred stock or preference shares of the Guarantor and with any present or future guarantee entered into by the Guarantor in respect of any of the most senior present or future preferred stock or preference stock of any Subsidiary of the Guarantor) other than Parity Securities of the Guarantor and the ordinary share capital of the Guarantor;
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Senior Obligations of the Guarantor means all obligations of the Guarantor, including subordinated obligations of the Guarantor according to the Spanish Insolvency Law, other than Parity Obligations of the Guarantor and Junior Obligations of the Guarantor;
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Examples of Senior Obligations of the Guarantor in a sentence

  • This Preferred Securities Guarantee will constitute an unsecured obligation of the Guarantor and will rank subordinate and junior in right of payment to all Senior Debt, Subordinated Debt and Additional Senior Obligations, of the Guarantor (as defined in the Indenture), to the extent and in the manner set forth in the Indenture, and the applicable provisions of the Indenture will apply, in all relevant respects, to the obligations of the Guarantor hereunder.

  • The payment obligations of the Guarantor in respect of the Subordinated Guarantee will (a) rank junior to all Senior Obligations of the Guarantor, (b) rank pari passu with all Pari Passu Obligations of the Guarantor and (c) rank senior to all Junior Obligations of the Guarantor.

  • Accordingly, the claims of holders of all Senior Obligations of the Guarantor will first have to be satisfied in any liquidation, winding-up or analogous proceedings before the Holders may expect to obtain any recovery in respect of their Securities from the Guarantor and prior thereto Holders will have only limited ability to influence the conduct of such liquidation, winding-up or analogous proceedings.

  • The obligations of the Guarantor under the Subordinated Guarantee constitute direct, unconditional, subordinated and unsecured obligations of the Guarantor.The payment obligations of the Guarantor in respect of the Subordinated Guarantee will (a) be subordinated to all Senior Obligations of the Guarantor, (b) rank pari passu with all other Pari Passu Obligations of the Guarantor and (c) rank in priority to all Junior Obligations of the Guarantor.

  • The Guarantor undertakes that its obligations under this Subordinated Guarantee constitute direct, unconditional, subordinated and unsecured obligations of the Guarantor and do and will (a) rank junior to all Senior Obligations of the Guarantor, (b) rank pari passu with all Pari Passu Obligations of the Guarantor and (c) rank senior to all Junior Obligations of the Guarantor.

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  • The obligations of the Guarantor under the Deed of Guarantee constitute direct, subordinated and unsecured obligations of the Guarantor.The payment obligations of the Guarantor in respect of the Deed of Guarantee will (a) be subordinated to all Senior Obligations of the Guarantor in the manner described below, (b) rank pari passu with all other Pari Passu Obligations of the Guarantor and (c) rank in priority to all Junior Obligations of the Guarantor.

  • The obligations of the Guarantor hereunder do not constitute Senior Obligations of the Guarantor.

  • Step-up of an additional 75 basis points 26 years after the Issue Date186-1- 25 -and claims of Holders against the Guarantor in respect of or arising under the Guarantee will rank (i) junior to the claims of the holders of all Senior Obligations of the Guarantor, (ii) pari passu with the claims of the holders of all Parity Obligations of the Guarantor, and(iii) senior to the claims of the holders of all Junior Obligations of the Guarantor.

  • In the event that any Senior Obligations of the Guarantor shall not be rated Investment Grade by at least two (2) Rating Agencies at any time on or after November 1, 2000, each Noteholder will have the right to elect, prior to the Restoration Date, to require the Company to redeem such Note in whole (but not in part) on the Redemption Date at a price equal to the Redemption Price.


More Definitions of Senior Obligations of the Guarantor

Senior Obligations of the Guarantor means all obligations of the Guarantor issued directly or indirectly by it (including, without limitation, any obligation of the Guarantor under a ny guarantee which ranks or is expressed to rank pari passu with the most senior present or future preferred stock or preference shares of the Guarantor and with any present or future guarantee entered into by the Guarantor in respect of any of the most se nior present or future preferred stock or preference stock of any Subsidiary of the Guarantor) other than Parity Securities of the Guarantor and the ordinary share capital of the Guarantor; “ Senior Obligations of the Issuer ” means all obligations of the Is xxxx, issued directly or indirectly by it, other than Parity Securities of the Issuer and the ordinary share capital of the Issuer; “ Special Event ” means any of a Rating Capital Event, a Substantial Repurchase Event, a Tax Deductibility Event or a Withhold ing Tax Event or any combination of the foregoing; “ Subsidiary ” means a subsidiary within the meaning of Section 1159 of the Companies Xxx 0000 and “ Subsidiaries” shall be construed accordingly; “ Substantial Repurchase Event ” shall be deemed to occur if pr ior to the giving of the relevant notice of redemption the Issuer, the Guarantor or any of their respective Subsidiaries repurchases (and effects corresponding cancellations) or redeems Securities in respect of 75 per cent. or more in the principal amount of the Securities initially issued (which shall for this purpose include any further securities issued pursuant to Condition 19); “ Substituted Obligor ” has the meaning given in Condition 15; “ Talons ” has the meaning given in the preamble to these Condition s; “ Target System ” means the Trans - European Automated Real - Time Gross Settlement Express Transfer (known as TARGET2) System which was launched on 19 November 2007 or any successor thereto; “ Taxes ” has the meaning given in Condition 13; a “ Tax Deductibility Event ” shall be deemed to have occurred if as a result of a Tax Law Change: (a) in respect of the Issuer’s obligation to make any Interest Payment on the next following Interest Payment Date, the Issuer or (provided there has been no default by the Issuer in respect of such Interest Payment and the Guarantor is treated for tax purposes as payer of that Interest Payment) the Guarantor would not be entitled to claim a deduction in respect of the expense recognised by the Issuer for accounting purposes as attribu table to such In...
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Senior Obligations of the Guarantor means all obligations of the Guarantor issued directly or indirectly by it other than Parity Obligations of the Guarantor and Junior Obligations of the Guarantor;
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Related to Senior Obligations of the Guarantor

  • Senior Obligations is defined in Section 5.1 of this Agreement.

  • Junior Obligations means the Junior Obligations of the Guarantor and the Junior Obligations of the Issuer;

  • Guarantor Subordinated Obligations means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Note Obligations means the Notes, the Guarantees and all other obligations of any obligor under this Indenture, the Notes, the Guarantees and the Security Documents.

  • Guarantor Senior Indebtedness means, with respect to any Guarantor, ----------------------------- at any date, (a) all Obligations of such Guarantor under the Senior Credit Facility; (b) all Interest Rate Protection Obligations of such Guarantor; (c) all Obligations of such Guarantor under stand-by letters of credit; and (d) all other Indebtedness of such Guarantor for borrowed money, including principal, premium, if any, and interest (including Post-Petition Interest) on such Indebtedness, unless the instrument under which such Indebtedness of such Guarantor for money borrowed is Incurred expressly provides that such Indebtedness for money borrowed in not senior or superior in right of payment to such Guarantor's Guaranty of the Securities, and all renewals, extensions, modifications, amendments or refinancings thereof. Notwithstanding the foregoing, Guarantor Senior Indebtedness shall not include (a) any obligation of such Guarantor under the TCIC Credit Facility; (b) to the extent that it may constitute Indebtedness, any Obligation for federal, state, local or other taxes; (c) any Indebtedness between such Guarantor and any Subsidiary of such Guarantor; (d) to the extent that it may constitute Indebtedness, any Obligation in respect of any trade payable incurred for the purchase of goods or materials, or for services obtained, in the ordinary course of business; (e) that portion of any Indebtedness that is Incurred in violation of this Indenture; provided, however, that such Indebtedness shall be deemed not to have been Incurred in violation of this Indenture for purposes of this clause (e) if (i) the holder(s) of such Indebtedness or their representative or the Company shall have furnished to the Trustee an opinion of independent legal counsel, unqualified in all material respects, addressed to the Trustee (which legal counsel may, as to matters of fact, rely upon an Officers' Certificate of the Company) to the effect that the Incurrence of such Indebtedness does not violate the provisions of this Indenture or (ii) in the case of any Obligations under the Senior Credit Facility, the holder(s) of such Obligations or their agent or representative shall have received a representation from the Company to the effect that the Incurrence of such Indebtedness does not violate the provisions of this Indenture; (f) Indebtedness evidenced by such Guarantor's Guaranty of the Securities; (g) Indebtedness of such Guarantor that is expressly subordinate or junior in right of payment to any other Indebtedness of such Guarantor; (h) to the extent that it may constitute Indebtedness, any obligation owing under leases (other than Capitalized Lease Obligations) or management agreements; and (i) any obligation that by operation of law is subordinated to any general unsecured obligations of such Guarantor.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Guaranteed Obligations has the meaning set forth in Section 11.01.

  • Parity Obligations means (i) all obligations of the Issuer in respect of Tier 1 Instruments (excluding any such obligations that rank, or are expressed to rank, junior to claims in respect of the Notes), and (ii) any other securities or obligations (including, without limitation, any guarantee, credit support agreement or similar undertaking) of the Issuer that rank, or are expressed to rank, pari passu with claims in respect of the Notes and/or any Parity Obligation.

  • Subordinated Obligations has the meaning specified in Section 7.05.