Examples of Existing Senior Indebtedness in a sentence
All instruments and documents given to secure or evidence the Existing Senior Indebtedness.
Pledgor has good, indefeasible and merchantable title to and ownership of the Collateral, free and clear of all Liens other than Liens granted as of the date hereof, if any, by Pledgor to Silicon Valley Bank pursuant to the Senior Credit Agreement to secure the Existing Senior Indebtedness (the “Senior Lien”).
The Company shall not, and shall not permit any Subsidiary to, incur, create, issue, assume or guarantee any Indebtedness that is contractually subordinate in right of payment to any other Indebtedness of the Company other than the Existing Senior Indebtedness unless such Indebtedness is also contractually subordinated in right of payment to the Notes on substantially similar terms.
The security interest granted by each Debtor to Secured Party in the Collateral constitutes a valid and enforceable Lien and first priority security interest in the Collateral, except that such security interest shall be second in such priority only to the security interests securing the Existing Senior Indebtedness.
No Guarantor will incur, create, issue, assume or guarantee any Indebtedness that is contractually subordinate in right of payment to any other Indebtedness of such Guarantor other than Existing Senior Indebtedness unless such Indebtedness is also contractually subordinated in right of payment to such Guarantor’s Guarantee on substantially similar terms.