Examples of Senior Security Interest in a sentence
Secured Party acknowledges and agrees that the amount of the Indebtedness may be increased or decreased by ADMIS and the terms thereof may be extended, amended or otherwise modified from time to time without notice to or consent of Secured Party and without affecting the relative priority of the Junior Security Interest and Senior Security Interest.
Secured Party acknowledges and agrees that the amount of the Commodity Intermediary Indebtedness may be increased or decreased and the terms thereof may be extended, amended or otherwise modified from time to time without notice to or consent of Secured Party and without affecting the relative priority of the Junior Security Interest and Senior Security Interest.
Debtor is now or may hereafter become indebted to Secured Party and has granted to Secured Party a security interest (“Junior Security Interest”) in the Account and Property junior and subordinated to the Senior Security Interest pursuant to other agreements and/or as set forth below.
At closing, NATCOM shall assume with CMT any and all obligations owed by CMT to Xxxxxxxxxx Equity Partners, LLC and collateralize such obligations with a Senior Security Interest on all the assets of NATCOM.
Each Guarantor covenants with Purchasers and Agent that such Guarantor shall not grant any security interest in or permit any lien, claim or encumbrance upon any of its assets in favor of any person or entity other than liens and security interests in favor of Purchasers and Agent and the Senior Security Interest and/or Permitted Indebtedness.