Senior Security Interests definition

Senior Security Interests shall have the meaning set forth in Section 8.1.7.
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Senior Security Interests as defined in Recital E of this Agreement.
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Senior Security Interests means the security interests previously granted by the Company to GR Match, LLC (“GRM”) in connection with: (i) the 9% Secured Convertible Promissory Note issued by the Company to GRM payable March 31, 2012; (ii) the Amended and Restated 9% Secured Convertible Promissory Note issued by the Company to GRM and payable March 31, 2012; and (iii) the Media and Marketing Services Agreement between GRM and the Debtor dated and effective as of July 19, 2011.
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Examples of Senior Security Interests in a sentence

  • The security interest of the Secured Party in and to such additional FMARC Collateral shall be subordinate to the Senior Security Interests for so long as any Senior Obligation shall be outstanding, and for as long as such Senior Security Interests 4 shall continue.

  • The Collateral Agent may be removed (i) by the Senior Creditors for so long as the Senior Security Interests shall continue, and (ii) at such time as the Senior Obligations shall have been paid in full, by the Secured Party, at any time, with or without cause, by an instrument or concurrent instruments in writing delivered to the Collateral Agent and a written copy thereof shall be promptly furnished to the Pledgor.

  • Subject to the rights of the Senior Creditors for so long as the Senior Security Interests shall continue, the power of attorney granted pursuant to this Pledge Agreement and all authority hereby conferred are granted and conferred solely to protect the Secured Party's interest in the FMARC Collateral and shall not impose any duty upon the Collateral Agent or the Secured Party to exercise any power.

  • Subject to the rights of the Senior Creditors for so long as the Senior Security Interests shall continue, if, at any time, either the Collateral Agent acting on behalf of the Secured Party or the Secured Party notifies the Pledgor that it requires additional stock powers endorsed in blank, the Pledgor shall promptly execute in blank and deliver the requested power to the requesting party.

  • The Collateral Agent shall, subject to the other terms and provisions of this Pledge Agreement and subject to the rights of the Senior Creditors for so long as the Senior Security Interests shall continue, act upon and in compliance with the Secured Party's written instructions delivered pursuant to this Pledge Agreement as promptly as possible following receipt of such written instructions.

  • The term "Senior Security Interests" shall mean any and all properly perfected, valid and enforceable liens existing as of July 11, 1997, of Pledgor to the Senior Creditors securing the Senior Obligations.

  • Debtor shall keep the Collateral free from any and all liens other than the Senior Security Interests.

  • Subject to any sale or other disposition of the FMARC Collateral pursuant to and in accordance with this Pledge Agreement or the Senior Pledge Agreements, and subject further to the rights of the Senior Creditors for so long as the Senior Security Interests shall continue, the FMARC Collateral shall be returned to the Pledgor on the Final Date.

  • The Trustee or the Collateral Agent may enter into intercreditor agreements substantially in the form attached hereto as Exhibit E with the holders from time to time of Senior Security Interests in order to define the relative rights and priorities among the Holders of the Securities and the holders of the applicable Senior Obligations in respect of the Collateral.

  • Subject to the rights of the Senior Creditors for so long as the Senior Security Interests shall continue, the Secured Party appoints Harrxx Xxxst and Savings Bank as its Collateral Agent and Harrxx Xxxst and Savings Bank accepts such appointment and agrees to act as Collateral Agent on behalf of the Secured Party to maintain custody and possession of the FMARC Collateral and to perform the other duties of the Collateral Agent in accordance with the provisions of this Pledge Agreement.


More Definitions of Senior Security Interests

Senior Security Interests means any and all properly perfected, valid and enforceable liens existing as of July 11, 1997, of Pledgor to the Senior Creditors securing the Senior Obligations. The term "Responsible Officer" shall mean when used with respect to the Collateral Agent any officer within its principal corporate trust office located at 311 Xxxx Xxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000, xxcluding any Vice President, Managing Director, Assistant Vice President, Secretary, Assistant Secretary or Assistant Treasurer or any other officer of the Collateral Agent customarily performing functions similar to those performed by any of the above designated officers and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer's knowledge and familiarity with 3 the particular subject.
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Senior Security Interests means the existing senior secured indebtedness by Debtor to Xxxxxx Xxxxx, Catalytic Capital LLC, and YVSGRAMORAH, LLC outstanding as of the date hereof or that may accrue hereafter.
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Senior Security Interests means the existing senior secured debt of the Debtor as of the date hereof, which includes any amounts of indebtedness by Debtor to Platinum Partners Credit Opportunities Master Fund, LP, a Delaware limited partnership (“PPCO”) outstanding as of the date hereof or that may accrue hereafter.
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Senior Security Interests means Liens granted to the Senior Lenders pursuant to the Loan Agreement and certain "Loan Documents" (as defined in the Loan Agreement), as in effect on the date hereof or amended as permitted by the Subordination Agreement so that the obligations thereunder constitute Senior Indebtedness.
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Senior Security Interests means the security interests in the Collateral granted under the Senior Pledge Agreement securing the Senior Secured Obligations.
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Senior Security Interests means (i) the security interest and liens in TSI’s Accounts and Inventory in favor of the Senior Lender and all products and proceeds thereof (including, without limitation, insurance payable by reason of loss or damage to the foregoing collateral) and any property, securities, guaranties or monies of TSI which may at any time come into the possession of the Senior Lender, and (ii) any security interest or lien now existing or hereafter created in PHI’s Accounts or Inventory in favor of the Senior Lender and all products and proceeds thereof (including, without limitation, insurance payable by reason of loss or damage to the foregoing collateral) and any property, securities, guaranties or monies of PHI which may at any time come into the possession of the Senior Lender.
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Related to Senior Security Interests

  • Prior Security Interest means a valid and enforceable perfected first-priority security interest in and to the Collateral that is subject only to Permitted Liens which have first-priority by operation of applicable Law.

  • Senior Security Documents means with respect to any Senior Secured Party, the Security Documents that secure the Senior Obligations.

  • Senior Secured Parties means the Credit Agreement Secured Parties and any Additional Senior Debt Parties.

  • Permitted Security Interests means (i) any Security Interest for taxes, assessments or governmental charges or levies which relate to obligations not yet due and delinquent, (ii) easements, servitudes, encroachments and other minor imperfections of title which do not, individually or in the aggregate, detract from the value of or impair the use or marketability of any real property, and (iii) undetermined or inchoate Security Interests arising or potentially arising under statutory provisions which have not at the relevant time been filed or registered in accordance with applicable laws or of which written notice has not been given in accordance with applicable laws;

  • Security Interests means the security interests in the Collateral granted hereunder securing the Secured Obligations.

  • Senior Security or “Senior Securities” means any Security or Securities designated pursuant to Section 301 as a Senior Security.

  • Permitted Security Interest means any Security Interest:

  • Senior Security Account means an account maintained and specifically allocated to a Series under the terms of this Agreement as a segregated account, by recordation or otherwise, within the custody account in which certain Securities and/or other assets of the Fund specifically allocated to such Series shall be deposited and withdrawn from time to time in accordance with Certificates received by the Custodian in connection with such transactions as the Fund may from time to time determine.

  • Senior Secured Debt means Senior Debt that is secured by Liens on any property or assets of the Borrower or any of its Subsidiaries.

  • Junior Security of a Person means, when used with respect to the Securities of any series, any Qualified Capital Stock of such Person or any Indebtedness of such Person that is subordinated in right of payment to the Securities of such series and has no scheduled installment of principal due, by redemption, sinking fund payment or otherwise, on or prior to the Stated Maturity of the Securities of such series.

  • Senior Secured Credit Facilities means the revolving credit facility and other credit facilities under the Credit Agreement, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings, refinancings or replacements thereof and any one or more indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund, supplement or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.09 hereof) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, trustee, lender or group of lenders or holders.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Senior Secured Obligations means (a) with respect to the Revolving Facility Obligations (to the extent such Obligations are secured by the Noteholder First Lien Collateral), the Noteholder Obligations, and (b) with respect to Noteholder Obligations (to the extent such Obligations are secured by the Revolving Facility First Lien Collateral), the Revolving Facility Obligations.

  • Purchase Money Security Interest means Liens upon tangible personal property securing loans to any Loan Party or Subsidiary of a Loan Party or deferred payments by such Loan Party or Subsidiary for the purchase of such tangible personal property.

  • Senior Secured Indebtedness means, with respect to any Person as of any date of determination, any Specified Indebtedness; provided that such Indebtedness is in each case secured by a Lien on the assets of the Issuer or its Restricted Subsidiaries on a basis pari passu with or senior to the security in favor of the Notes.

  • Senior Securities means senior securities (as such term is defined and determined pursuant to the Investment Company Act and any orders of the SEC issued to the Borrower thereunder).

  • Permitted Liens means, with respect to any Person:

  • First Priority Obligations means (a) with respect to the Existing First Priority Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement and (b) with respect to each other First Priority Agreement, all “Obligations” of each Loan Party as defined in such First Priority Agreement, and shall in any event include (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable First Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any First Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any Second Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Junior means any person in receipt of less than the adult wage.

  • Senior Secured Loan means any interest in a loan, including any assignment of or participation in or other interest in a loan, that (i) is not (and is not expressly permitted by its terms to become) subordinate in right of payment to any obligation of the obligor in any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings (other than pursuant to a Permitted Working Capital Lien and customary waterfall provisions contained in the applicable loan agreement), (ii) is secured by a pledge of collateral, which security interest is (a) validly perfected and first priority under Applicable Law (subject to liens permitted under the applicable credit agreement that are reasonable for similar loans, and liens accorded priority by law in favor of any Governmental Authority) or (b)(1) validly perfected and second priority in the accounts, documents, instruments, chattel paper, letter-of-credit rights, supporting obligations, deposit accounts, investments accounts and any other assets securing any Working Capital Revolver under Applicable Law and proceeds of any of the foregoing (a first priority lien on such assets a "Permitted Working Capital Lien") and (2) validly perfected and first priority (subject to liens for taxes or regulatory charges and any other liens permitted under the related underlying instruments that are reasonable and customary for similar loans) in all other collateral under Applicable Law, and (iii) the Portfolio Manager determines in good faith that the value of the collateral for such loan (including based on enterprise value) on or about the time of acquisition equals or exceeds the outstanding principal balance of the loan plus the aggregate outstanding balances of all other loans of equal or higher seniority secured by a first priority Lien over the same collateral. For the avoidance of doubt, debtor-in-possession loans and FLLO Loans shall constitute Senior Secured Loans.

  • Liens means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

  • Permitted Junior Secured Refinancing Debt means any secured Indebtedness issued or incurred by the Borrower or a Subsidiary Guarantor in the form of one or more series of Junior Lien secured notes or loans; provided that (i) such Indebtedness is secured by the Collateral on a Junior Lien basis (subject to Liens permitted under Section 9.1) with the Obligations and is not secured by any property or assets of the Borrower or any Subsidiary other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness, (iii) such Indebtedness does not mature or have scheduled amortization or scheduled payments of principal and is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligation (other than customary offers to repurchase or mandatory prepayments upon a change of control, asset sale or other Disposition or casualty event or incurrence of indebtedness that is not permitted thereunder and customary acceleration rights after an event of default) prior to the Latest Maturity Date, determined at the time such Indebtedness is incurred, (iv) the security agreements relating to such Indebtedness are substantially the same as the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (v) such Indebtedness is not guaranteed by any Subsidiaries other than the Subsidiary Guarantors and (vi) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to or otherwise subject to the provisions of the Junior Lien Intercreditor Agreement; provided that if such Indebtedness is the initial Permitted Junior Secured Refinancing Debt incurred by the Borrower or a Subsidiary Guarantor, then Holdings, the Borrower, the Subsidiary Guarantors, the Administrative Agent and the Senior Representative for such Indebtedness shall have executed and delivered a Junior Lien Intercreditor Agreement. Permitted Junior Secured Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

  • Senior Secured Notes means the $1,875 million aggregate principal amount of 7.375% Senior Secured Notes due 2023 of the Borrower including, as the same may be amended, supplemented, waived or otherwise modified from time to time, including any senior secured exchange notes issued in lieu thereof.

  • Permitted First Priority Refinancing Debt means any secured Indebtedness incurred by the Borrower in the form of one or more series of senior secured notes or senior secured loans; provided that (i) such Indebtedness is secured by the Collateral on a pari passu basis with the Obligations and is not secured by any property or assets of Holdings and its Subsidiaries other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness in respect of Term Loans, (iii) such Indebtedness does not mature prior to the Maturity Date of the Refinanced Debt and such Indebtedness shall have a Weighted Average Life to Maturity that is not shorter than the Refinanced Debt, (iv) to the extent applicable, the security agreements relating to such Indebtedness are substantially the same as the Security Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (v) no Restricted Subsidiary guarantees such Indebtedness unless it is a Subsidiary Guarantor (or becomes a Subsidiary Guarantor substantially concurrently with the incurrence of such Indebtedness); provided that, if, at any time, such Restricted Subsidiary ceases to be a Guarantor, it shall not guarantee such Indebtedness, (vi) the other terms and conditions of such Indebtedness (excluding pricing, fees, rate floors, premiums, optional prepayment or optional redemption provisions) reflect market terms and conditions at the time of incurrence and issuance; provided, that, to the extent such terms and documentation are not substantially identical to the Indebtedness being refinanced, (x) such terms (taken as a whole) shall be less favorable to the providers of such Permitted First Priority Refinancing Debt than those applicable to the Indebtedness being refinanced, except, in each case, for financial or other covenants or other provisions contained in such Indebtedness that are applicable only after the then Latest Maturity Date, or (y) such documentation shall be reasonably acceptable to the Administrative Agent and (vii) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to a Pari Passu Intercreditor Agreement and the Administrative Agent shall have become a party to the Pari Passu Intercreditor Agreement (or any then-existing Pari Passu Intercreditor Agreement shall have been amended or replaced in a manner reasonably acceptable to the Administrative Agent, which results in such Senior Representative having rights to share in the Collateral as provided in clause (i) above). Permitted First Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

  • Lien means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind (including any conditional sale or other title retention agreement or lease in the nature thereof).

  • Senior Secured Note Documents means the Senior Secured Note Indenture, the Senior Secured Note Guarantees, the Senior Secured Notes, the Intercreditor Arrangements, any security document relating to the Senior Secured Notes and/or the Senior Secured Note Indenture and any other document that may be entered into pursuant to any of the foregoing.