Superior Debt definition
Superior Debt means any and all obligations of the Company and its Subsidiaries arising under the Senior Credit Agreement and each document related thereto or executed in connection therewith together with amendments and modifications thereof and including in all events any extensions, refinancings or restructurings thereof.
Superior Debt means (i) the Obligations (as defined in the Senior Credit Agreement) and the promissory notes issued pursuant thereto, including, without limitation, principal, premium, interest and other liabilities payable from time to time and similar obligations, interest accruing before and after any event of insolvency at the rate provided in the documentation with respect thereto (irrespective of whether such principal, premium, interest or other liabilities are allowed as a claim in any such proceeding), premiums, penalties, fees, indemnities or expenses, and regardless of whether direct or indirect, now existing or hereafter arising, absolute or contingent, secured or unsecured, or long or short term, (ii) obligations arising under guarantees executed by the Company or any of its members or Subsidiaries of items described in (i) above, and (iii) renewals, extensions, refundings, refinancings, deferrals, restructurings, amendments and modifications of the items described in (i) and/or (ii) above.
Superior Debt means all of the present and future indebtedness (principal, interest (including, without limitation, default interest and interest accruing after the commencement of a bankruptcy proceeding by or against the Debtor), fees, charges, collection and other costs (including, without limitation, attorney's fees) and expenses and other amounts), liabilities and obligations (including, without limitation, letter of credit reimbursement obligations, protective advances permitted under the FSA and the other Financing Documents for unpaid taxes, insurance, etc., and yield maintenance and other indemnification amounts) of the Debtor to the Lender including any such indebtedness under the FSA or any of the other Financing Documents, all whether fixed or contingent, matured or unmatured, liquidated or unliquidated, and whether arising under contract, in tort or otherwise, and all increases, extensions, modifications, refinancings, assignments and/or renewals thereof.
Examples of Superior Debt in a sentence
This Agreement is effective notwithstanding any defect in the validity or enforceability of any instrument or document evidencing the Superior Debt.
This Agreement is effective notwithstanding any defect in the validity or enforceability of any instrument or document at any time evidencing or securing the whole or any part of the Superior Debt.
Except as otherwise expressly provided herein, the provisions of the Note may be amended and the Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained the written consent of the holders of the Junior Notes then outstanding and the Senior Agent and the Required Lenders with respect to any Superior Debt then outstanding.
This Note shall be due and payable upon the earlier to occur of the following events (the “Maturity Date”): (i) six and one-half (6 1/2) years from December 7, 1999; (ii) six (6) months after repayment of the Superior Debt (as defined in Section 8 below); or (iii) the closing (any such closing referred to as the “Closing”) of a Sale Transaction.
The Borrower and the lender of the SRAC Subordinated Debt (the "Lender") agree for the benefit of the holders of the Superior Debt that the SRAC Subordinated Debt shall, to the extent hereinafter set forth, be subordinate and junior in right of payment to all Superior Debt of the Borrower.
More Definitions of Superior Debt
Superior Debt means all "Obligations" as defined in the Senior Loan Agreement, including the funding obligations of Maker with respect to the "Debt Service Reserve Account" as described in Section 5.9 of the Senior Loan Agreement, as well as all other "Debt" permitted under the terms of the Senior Loan Agreement. The Superior Debt shall continue to be Superior Debt and be entitled to the benefits of these subordination provisions irrespective of any amendment, modification or waiver of any term of the Superior Debt or extension or renewal of the Superior Debt. No direct or indirect payment (in cash, property or securities or by set-off or otherwise) shall be made or agreed to be made on account of the principal of, or premium, if any, or interest on any Subordinated Debt, or in respect of any redemption, retirement, purchase or other acquisition of any of the Subordinated Debt so long as any amounts shall remain due or payable under the Senior Loan Agreement; PROVIDED, HOWEVER, that Maker may make payments on the Subordinated Debt pursuant to the terms hereof, and PROVIDED FURTHER that making any such payment will not contravene any provision of the subordination provisions set forth in this Note or the Senior Loan Agreement. Notwithstanding any provisions to the contrary, upon the occurrence of any condition or event which would constitute an "Event of Default" as defined in the Senior Loan Agreement or which would constitute any default or event of default with respect to any other Superior Debt, as defined therein or in any instrument under which the same is outstanding, which permits the holder or holders of any of the Superior Debt to accelerate the maturity thereof then, unless and until such condition or event shall have been cured or waived or shall have ceased to exist, no direct or indirect payment (in cash, property or securities or by set-off or otherwise) shall be made or agreed or attempted to be made on account of the principal of, or premium, if any, or interest or otherwise on any Subordinated Debt, or as a sinking fund for the Subordinated Debt, or in respect of any redemption, retirement, purchase or other acquisition of any of the Subordinated Debt. In the event of:
Superior Debt means all present and future indebtedness or liabilities (whether contingent or otherwise) of the Borrower to the Bank under or in connection with the Facility Agreement.
Superior Debt means all Obligations and all other loans, advances, liabilities, and debit balances at any time or times owed by Debtor (in any capacity, whether as borrower or as a guarantor of such loans, advances, liabilities, and debit balances to the Subsidiary) to Agents or Lenders, (i) under the Credit Agreement or any of the other Credit Documents, (ii) any and all loans made or credit extended by Agents or Lenders to Debtor during the pendency of any Insolvency Proceeding of Debtor and all interest, fees, charges, expenses and attorneys’ fees for which Debtor is now or hereafter becomes liable to pay to Agents or Lenders under the Credit Agreement or any of the other Credit Documents, including all interest, fees, charges, expenses and attorneys’ fees that accrue during the pendency of any bankruptcy case of Debtor, whether or not Agents and Lenders are authorized by 11 U.S.C. §506 to collect such interest from Debtor.
Superior Debt the meaning specified therefor in section 13.2.
Superior Debt means all (i) principal of, interest and premium (if ------------- any) on, indebtedness for borrowed money of the Company (including, without limitation, guarantees and other contingent obligations with respect to indebtedness for borrowed money of its Subsidiaries)
Superior Debt means shall mean collateralized or secured borrowings from banks, venture debt lenders, equipment lessors or other financial institutions borrowed by Maker to fund capital improvements and/or equipment of Maker and/or that constitutes a line of credit secured by receivables or other property of Maker on terms generally available from commercial lenders to businesses similarly situated to Maker.
Superior Debt means the Obligations of the Borrower under the Credit Agreement, including all principal of and interest on and premiums (if any) related thereto and any collateral securing the payment of the same.