Subordinated Unsecured Indebtedness definition

Subordinated Unsecured Indebtedness means the obligations of Borrower and certain Credit Parties pursuant to the Subordinated Unsecured Credit Documents and any other unsecured subordinated Indebtedness issued in exchange for, or the proceeds of which are applied to repay, such obligations.
Sample 1
Subordinated Unsecured Indebtedness means Indebtedness which would otherwise constitute Junior Indebtedness, but that is by its terms (i) subordinated in right of payment to the creditors in respect of any Junior Indebtedness, and (ii) not eligible to receive the proceeds of enforcement of any Collateral.
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Related to Subordinated Unsecured Indebtedness

  • Unsecured Indebtedness means, with respect to any Person, all Indebtedness of such Person for borrowed money that does not constitute Secured Indebtedness.

  • Subordinated Indebtedness means any Indebtedness of the Borrower or any Subsidiary the payment of which is subordinated to payment of the obligations under the Loan Documents.

  • Permitted Unsecured Refinancing Debt means unsecured Indebtedness incurred by the Borrower and Guarantees with respect thereto by any Loan Party; provided that such Indebtedness constitutes Credit Agreement Refinancing Indebtedness in respect of Term Loans, Incremental Term Loans, Refinancing Term Loans, Revolving Credit Loans, Incremental Revolving Credit Commitments, or Refinancing Revolving Credit Loans.

  • Subordinated Indebtedness Documents means any document, agreement or instrument evidencing any Subordinated Indebtedness or entered into in connection with any Subordinated Indebtedness.

  • Secured Indebtedness means any Indebtedness secured by a Lien.

  • Unsecured Debt means Debt which is not secured by any of the properties of the Company or any Subsidiary.

  • Subordinated Debt is indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to Bank.