Unsecured Loan definition
Unsecured Loan. A senior unsecured Loan obligation of any Person which is not (and by its terms is not permitted to become) subordinate in right of payment to any other debt for borrowed money incurred by the Obligor under such Loan.
Unsecured Loan means any Loan other than a Secured Loan.
Unsecured Loan means any loan that is (a) not secured by a pledge of collateral and (b) senior or pari passu in right of payment to any other unsecured indebtedness of the related Obligor.
Examples of Unsecured Loan in a sentence
Group B 8% 8% 8% 8% 8% 8% Group C 5% 5% 5% 5% 5% 5% Notwithstanding the foregoing, for purposes of determining the S&P Recovery Rate of a Collateral Obligation that is a Senior Secured Loan (including any Cov-Lite Loan) secured solely or primarily by common stock or other equity interests, such Collateral Obligation shall be deemed to be an Unsecured Loan.
More Definitions of Unsecured Loan
Unsecured Loan means a Loan that is, as of the date of the origination thereof, not secured, which for the avoidance of doubt shall include Convenience Checks.
Unsecured Loan means a loan which is not secured by assets of the Loan Debtor or Loan Debtors or any third party.
Unsecured Loan means a Loan that is, as of the date of the origination thereof, not secured by any collateral pursuant to the terms of the applicable loan agreement.
Unsecured Loan. An unsecured Loan obligation of any corporation, partnership or trust.
Unsecured Loan has the meaning given to the term “Loan” (or equivalent) in any Unsecured Facilities Agreement.
Unsecured Loan means a loan that is not a secured loan;”.
Unsecured Loan means any loan made by the Lender under the Unsecured Facility pursuant to Section 2.01(b).