Definition of Senior Debt. As used herein "Senior Debt" shall mean all indebtedness whenever incurred by Salton for borrowed money, whether secured or unsecured, with the exception of indebtedness owed to any Affiliate of Salton, and trade debt. As used in this Section 3.1, the term "Affiliate" shall not include any investor (other than a Salton Executive Related Party) who acquires an equity interest in Salton at the closing of the Salton Option or thereafter provided that such investor's interest represents less than fifty percent (50%) of the voting interests in Salton or any parent company of Salton.
Definition of Senior Debt. The term "Senior Debt" means the principal, premium (if any), and interest on (a) indebtedness (other than this Debenture or any previously subordinated debenture) of the Company evidenced by notes or similar obligations for money borrowed from or guaranteed to persons, firms, or corporations which engage in lending money, including, but without limitation, individuals, banks, trust companies, insurance companies and other financing institutions, and charitable trusts, pension trusts, and other investing entities or organizations, (b) indebtedness of the Company evidenced by notes or debentures issued under the provisions of an indenture or similar instrument between the Company and a bank or trust company, (c) the indebtedness of the Company evidenced by the Company's Senior Notes in an aggregate principal amount of $2,000,000 (due January 12, 1998) and $1,680,000 (due February 3, 1999), and (d) indebtedness incurred, assumed or guaranteed by the Company in connection with the acquisition by it of any property or asset unless, in each case, by the terms of the instrument creating or evidencing the indebtedness it is expressly provided that such indebtedness is not superior in right of payment to this Debenture.
Definition of Senior Debt. Upon the Notification Time, the term "Senior Debt" as defined in the Indenture shall be amended to be defined as follows:
Definition of Senior Debt. The definition of "Senior Debt" on page 19 ------------------------- of the Credit Agreement is restated in its entirety as follows:
Definition of Senior Debt. For purposes hereof, "SENIOR DEBT" shall mean (a) the principal of, premium, if any, accrued and unpaid interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company), and any other monetary obligations on (i) indebtedness of the Company for money borrowed, whether outstanding on the date of this Debenture or thereafter created, incurred or assumed (including but not limited to nonrecourse borrowings secured by receivables), (ii) guaranties by the Company of indebtedness for money borrowed by any other person, or reimbursement obligations under letters of credit, in either case, whether outstanding on the date of this Debenture or thereafter created, incurred or assumed, and (iii) indebtedness evidenced by notes, debentures, bonds or other instruments of indebtedness (other than this Debenture) for the payment of which the Company is responsible or liable, by guarantees or otherwise, whether outstanding on the date of this Debenture or thereafter created, incurred or assumed, and (b) modifications, renewals, extensions, refinancings, refundings and replacements of any such indebtedness, obligations or guarantees; unless, in the instrument creating or evidencing the same or pursuant to which the same is outstanding, it is expressly provided that such indebtedness, obligations or guarantees or such modification, renewal, extension, refinancing, refunding or replacement thereof are not superior in right of payment to this Debenture and the holder of such indebtedness has consented to same; PROVIDED, HOWEVER, that Senior Debt shall not be deemed to include any obligations of the Company to any of its subsidiaries. Without in any way limiting the scope of the foregoing, it is expressly acknowledged and agreed that Senior Debt shall include all indebtedness, obligations and guaranties of the Company and its subsidiaries under that certain Credit Agreement dated November 14, 1996 among the Company, certain of its subsidiaries, Fleet National Bank, as administrative agent, The First National Bank of Boston, as documentation agent, and the lender parties thereto and under all notes, instruments, agreements and documents entered into pursuant thereto or in connection therewith and all modifications, renewals, extensions, refinancings, refundings and replacements thereof.
Definition of Senior Debt. In the subordinated debt documents, senior debt will be defined to include (i) all amounts owing under the Credit Agreement and Loan Documents, including all principal, interest, fees, expenses, amounts payable under reimbursement obligations in connection with letters of credit and post-petition interest at the rate prescribed in the Credit Agreement whether or not allowed or allowable in a bankruptcy case, (ii) all amounts owing with respect to foreign exchange and interest rate and other hedging agreements between the Borrower and any Holders of Secured Obligations, (iii) all amounts owing under agreements refinancing the Credit Agreement, or amendments of the Credit Agreement, including amendments that increase the principal amount of senior debt. The amount of senior debt (exclusive of amounts due under foreign exchange and interest rate and other hedging agreements) may be restricted to an amount not less than $120,000,000, which may be reduced by repayments of the Term Loans.
Definition of Senior Debt. The term "Senior Debt" shall mean and consist of all present and future indebtedness and liabilities of the Company (contingently or otherwise) to Imperial Bank (the "Senior Lender") pursuant to the terms of that certain Loan and Security Agreement dated March 4, 1996, by and between the Company and the Senior Lender as amended from time to time, and related agreements and instruments (collectively, the "LOAN DOCUMENTS") and any increase, refinancing, refunding or replacement of all or any part of such indebtedness.
Definition of Senior Debt. As used in this Agreement, Senior Debt shall mean and include the aggregate amount of principal, interest (including post-petition interest accruing after the commencement of any bankruptcy, insolvency, liquidation or similar proceeding, to the extent allowed as a claim in such proceeding), fees and other amounts payable by the Company to the Lender on, or in respect of, indebtedness listed on Schedule 1 hereto; provided, however, that if the aggregate amount of such indebtedness (exclusive of accrued and unpaid interest) shall exceed Five Million Dollars ($5,000,000), such excess shall not constitute Senior Debt for purposes of this Agreement.
Definition of Senior Debt. The term "SENIOR DEBT" shall mean and consist of all present indebtedness for borrowed money of the Company (contingently or otherwise), to banks, insurance companies and similar institutional lenders (all such lenders, the "LENDERS") and any extension, replacement, removal, restatement or refinancing thereof.
Definition of Senior Debt. For purposes hereof, "Senior Debt" shall mean (a) the principal of, premium, if any, accrued and unpaid interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company), and any other monetary obligations on (i) indebtedness of the Company for money borrowed, whether outstanding on the date of this Note or thereafter created, incurred or assumed (including but not limited to nonrecourse borrowings secured by receivables), (ii) guaranties by the Company of indebtedness for money borrowed by any other person, or reimbursement obligations under letters of credit, in either case, whether outstanding on the date of this Note or thereafter created, incurred or assumed, and (iii) indebtedness evidenced by notes (other than the Note), debentures, bonds or other instruments of indebtedness for the payment of which the Company is responsible or liable, by guarantees or otherwise, whether outstanding on the date of this Note or thereafter created, incurred or assumed, and (b) modification, renewals, extensions, refinancings, refundings and replacements of any such indebtedness, obligations or guarantees; unless, in the instrument creating or evidencing the same or pursuant to which the same is outstanding, it is
