Examples of Senior Termination Date in a sentence
If, prior to the Senior Termination Date, any payment or distribution is received by a Subordinated Creditor upon or with respect to the Subordinated Indebtedness at a time not permitted hereunder, such Subordinated Creditor shall promptly deliver the same to the Trustee in the form received (except for endorsement or assignment by such Subordinated Creditor where required by the Trustee), for application to the Senior Indebtedness.
With respect to any Distribution Date after the Senior Termination Date, the Senior Percentage for such Mortgage Pool will equal zero.
Facility (b) thereafter until the Senior Termination Date (expected on July 10, 2005), the rate per annum which is the greater of the sum of (i) United States Treasury bill rate, FERI Margin and 3.0% and (ii) World Bank Lending Rate, the FERI Margin and 2.5%.
This Senior Guaranty is a continuing agreement of each Guarantor and shall: (a) remain in full force and effect until the Senior Termination Date for such Guarantor, (b) be binding upon such Guarantor, its successors and assigns and (c) inure to the benefit of and be enforceable by the Senior Secured Parties and their successors, transferees and assigns.
In any Reorganization, until all of the Senior Indebtedness shall be Paid in Full, any such Reorganization Consideration received by any Subordinated Creditor which may be payable or deliverable in respect of the Subordinated Indebtedness shall promptly be paid or delivered directly to the Trustee for the benefit of the Senior Creditors for application in payment of the Senior Indebtedness until the occurrence of the Senior Termination Date.