Guarantor Senior Subordinated Indebtedness means, with respect to a Subsidiary Guarantor, the obligations of such Subsidiary Guarantor under the Subsidiary Guarantee and any other Indebtedness of such Subsidiary Guarantor that specifically provides that such Indebtedness is to rank pari passu in right of payment with the obligations of such Subsidiary Guarantor under the Subsidiary Guarantee and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of such Subsidiary Guarantor which is not Guarantor Senior Indebtedness of such Subsidiary Guarantor.
Guarantor Senior Subordinated Indebtedness means, with respect to a Subsidiary Guarantor, the obligations of such Subsidiary Guarantor under the Subsidiary Guarantee and any other Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that specifically provides that such Indebtedness is to rank equally in right of payment with the obligations of such Subsidiary Guarantor under the Subsidiary Guarantee and is not expressly subordinated by its terms in right of payment to any Indebtedness of such Subsidiary Guarantor which is not Guarantor Senior Indebtedness of such Subsidiary Guarantor.
Guarantor Senior Subordinated Indebtedness means, with respect to a Note Guarantor, the obligations of such Note Guarantor under the Note Guarantee and any other Indebtedness of such Note Guarantor that specifically provides that such Indebtedness is to rank pari passu in right of payment with the obligations of such Note Guarantor under the Note Guarantee and is not expressly subordinated by its terms in right of payment to any Indebtedness of such Note Guarantor which is not Guarantor Senior Indebtedness of such Note Guarantor.
Examples of Guarantor Senior Subordinated Indebtedness in a sentence
No Subsidiary Guarantor will Incur any Indebtedness if the proceeds thereof are used, directly or indirectly, to refinance any Guarantor Senior Subordinated Indebtedness unless such refinancing Indebtedness is either Guarantor Senior Subordinated Indebtedness or Guarantor Subordinated Obligations.
At March 31, 2013: • outstanding Guarantor Senior Indebtedness was $4.4 million, all of which would have been secured (including Indebtedness of the Subsidiary Borrower under the Senior Secured Credit Agreement); and • the Subsidiary Guarantors did not have any Guarantor Senior Subordinated Indebtedness other than the Subsidiary Guarantees.
Each Subsidiary Guarantee will rank equally with all other Guarantor Senior Subordinated Indebtedness of that Subsidiary Guarantor and will be senior in right of payment to all future Guarantor Subordinated Obligations of that Guarantor.
More Definitions of Guarantor Senior Subordinated Indebtedness
Guarantor Senior Subordinated Indebtedness means, as to any Guarantor, Senior Subordinated Indebtedness of such Guarantor, it being understood that for purposes of this definition, all references to the Company in the definition of Senior Subordinated Indebtedness shall be deemed references to such Guarantor.
Guarantor Senior Subordinated Indebtedness means, with respect to a Guarantor, the obligations of such Guarantor under its Guarantee and any other Indebtedness of such Guarantor (whether outstanding on the Effective Date or thereafter incurred) that specifically provides that such Indebtedness is to rank equally in right of payment with the obligations of such Guarantor under its Guarantee and is not expressly subordinated by its terms in right of payment to any Indebtedness of such Guarantor which is not Guarantor Senior Debt of such Guarantor.
Guarantor Senior Subordinated Indebtedness means, with respect to a Guarantor, all Indebtedness of that Guarantor which is senior to such Guarantor’s Guarantor Subordinated Indebtedness and pari passu in right of payment with such Guarantor’s Subsidiary Guarantee.
Guarantor Senior Subordinated Indebtedness with respect to a Guarantor, the obligations of such Guarantor under the Subsidiary Guarantee and any other Indebtedness of such Guarantor that specifically provides that such Indebtedness is to rank pari passu in right of payment with the obligations of such Guarantor under the Subsidiary Guarantee and is not expressly subordinated by its terms in right of payment to any Indebtedness of such Guarantor which is not Guarantor Senior Indebtedness of such Guarantor.
Guarantor Senior Subordinated Indebtedness means with respect to a Guarantor, the obligations of such Guarantor under the Note Guarantee and any other Indebtedness of such Guarantor (whether outstanding on the date of this Indenture or thereafter incurred) that specifically provides that such Indebtedness is to rank pari passu in right of payment with the obligations of such Guarantor under the Note Guarantee and is not expressly subordinated by its terms in right of payment to any Indebtedness of such Guarantor which is not Guarantor Senior Indebtedness of such Guarantor.
Guarantor Senior Subordinated Indebtedness terms in right of payment to any Indebtedness of such Subsidiary Guarantor which is not Guarantor Senior Indebtedness of such Subsidiary Guarantor.
Guarantor Senior Subordinated Indebtedness means with respect to a Subsidiary Guarantor, the obligations of such Subsidiary Guarantor under the Subsidiary Guarantee and any other Indebtedness of such Subsidiary Guarantor (whether outstanding on the date of the Existing Indenture or thereafter Incurred) that specifically provides that such Indebtedness is to rank pari passu in right of payment with the obligations of such Subsidiary Guarantor under the Subsidiary Guarantee and is not expressly subordinated by its terms in right of payment to any Indebtedness of such Subsidiary Guarantor which is not Guarantor Senior Indebtedness of such Subsidiary Guarantor.