Senior Secured Note definition
Senior Secured Note. An assignment of or Participation Interest in or other interest in a senior secured note issued pursuant to an indenture or equivalent document by a corporation, partnership, limited liability company, trust or other Person (other than any government or any agency or political subdivision thereof), bearing interest at a floating rate and that is secured by a pledge of collateral and has a senior pre-petition priority (including pari passu with other obligations of the Obligor, but subject to customary permitted liens, such as, but not limited to, any tax liens, liquidation, trade claims, capitalized leases or similar obligations) in any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings.
Senior Secured Note. Any corporate note that (a) is secured by the pledge of collateral and has the most senior pre-petition priority (including pari passu with other obligations of the obligor, but subject to any super priority lien imposed by operation of law, such as, but not limited to, any tax liens, and liquidation preferences with respect to pledged collateral, and any Senior Secured Loan) in any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings and (b) is not (and cannot by its terms become) subordinate in right of payment to any other obligation of the Obligor of the Senior Secured Note (other than with respect to liquidation, trade claims, capitalized leases or similar obligations). For the avoidance of doubt, the term Senior Secured Note shall not include Senior Secured Loans.
Senior Secured Note. Any dollar-denominated senior secured note issued pursuant to an indenture by a corporation, partnership or other Person that is secured by a first priority, perfected security interest or lien to or on specified collateral securing the issuer’s obligations under such note.
Examples of Senior Secured Note in a sentence
By: Name: Title: This is one of the Notes referred to in the within-mentioned Indenture: U.S. Bank Trust Company, National Association, as Trustee By: Authorized Signatory Dated: 1 Insert in Global Notes only Back of Note 10.500% Senior Secured Note due 2032 Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.
More Definitions of Senior Secured Note
Senior Secured Note means the Senior Secured Notes due in December 2015 issued pursuant to the Senior Secured Note Indenture.
Senior Secured Note means that certain Senior Secured Note, dated as of January 26, 2024, by and among FlyExclusive Jet Share, LLC, a North Carolina limited liability company, as borrower, the Company and LGM Enterprises, LLC, a North Carolina limited liability company, as guarantors, ETG FE LLC, a Delaware limited liability company, as the initial noteholder, the other noteholders from time to time party thereto, ▇▇▇▇▇ Agency Services Limited, as administrative agent and ▇▇▇▇▇ Trustee Services Limited, as collateral agent, as amended, restated, amended and restated, supplemented, extended, replaced, refinanced or otherwise modified from time to time.
Senior Secured Note means any debt obligation issued by a corporation, partnership, limited liability company or trust that constitutes borrowed money and is in the form of, or represented by, a note (other than any note evidencing a loan), certificated debt security or other debt security and that: (a) is not (and cannot by its terms become) subordinate in right of payment to any other obligation of the Obligor of such note (subject to customary exceptions for permitted liens including an Obligor’s obligations thereunder in respect of its trade claims, accounts receivables, inventory, capitalized leases and similar obligations and Senior Revolver Facilities); (b) is secured by a valid first-priority perfected security interest or lien in, to or on specified collateral securing the Obligor’s obligations under the note (subject to customary exceptions for permitted liens); (c) does not constitute a Bond (or other similar debt obligation with a public rating) and (d) the value of the collateral securing the note at the time of acquisition together with other attributes of the Obligor (including, without limitation, its general financial condition, ability to generate cash flow available for debt service and other demands for that cash flow) is adequate (in the commercially reasonable judgment of the Collateral Manager) to repay the note in accordance with its terms and to repay all other debt obligations of equal seniority secured by a first lien or security interest in the same collateral.
Senior Secured Note means any debt obligation that constitutes borrowed money and is in the form of, or represented by, a note (other than any note evidencing a Loan), certificated debt security or other debt security and that: (a) is not (and cannot by its terms become) subordinate in right of payment to any other obligation of the Obligor of such note (subject to customary exceptions for permitted liens including an Obligor’s obligations thereunder in respect of its trade claims, accounts receivables, inventory, capitalized leases and similar obligations and Senior Revolver Facilities); (b) is secured by a valid first-priority perfected security interest or lien in, to or on specified collateral securing the Obligor’s obligations under the note (subject to customary exceptions for permitted liens); (c) does not constitute a bond (or other similar debt obligation with a public rating) and (d) the value of the collateral securing the note at the time of acquisition together with other attributes of the Obligor (including, without limitation, its general financial condition, ability to generate cash flow available for debt service and other demands for that cash flow) is adequate (in the commercially reasonable judgment of the Collateral Manager) to repay the note in accordance with its terms and to repay all other debt obligations of equal seniority secured by a first lien or security interest in the same collateral.
Senior Secured Note means that certain Senior Secured Note, dated as of January 26, 2024, by and among FlyExclusive Jet Share, LLC, a North Carolina limited liability company, as borrower, the Company and LGM Enterprises, LLC, a North Carolina limited liability company, as guarantors, ETG FE LLC, a Delaware limited liability company, as the initial noteholder, the other noteholders from time to time party thereto, Kroll Agency Services Limited, as administrative agent and Kroll Trustee Services Limited, as collateral agent, as amended, restated, amended and restated, supplemented, extended, replaced, refinanced or otherwise modified from time to time.
Senior Secured Note means that certain Secured Promissory Note in the form attached hereto as Exhibit 12 being entered into simultaneously with the execution of this Agreement by Zynaxis, as the maker, and CytRx, as the holder, outlining the terms governing the lending of up to Two Million Dollars ($2,000,000) by CytRx to Zynaxis.
Senior Secured Note. Any note that is not (and cannot by its terms become, in any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or otherwise) subordinate (except with respect to liquidation preferences with respect to pledged collateral) in right of payment to any obligation of the obligor but subject to customary permitted liens, such as, but not limited to, any tax liens and is secured by a valid first-priority perfected pledge of collateral.