Examples of Junior Creditors in a sentence
The provisions of this Agreement are solely for the purpose of defining the relative rights of the Junior Creditors and the Trustee and the Holders and shall not be deemed to create any rights or priorities in favor of any other Person, including any Obligor.
Notwithstanding the foregoing, the Junior Creditors shall be the beneficiaries of the rights set forth in Section 11 hereof until all Junior Obligations have been indefeasibly paid in full.
The Junior Creditors and the Obligors shall provide the Trustee with a Junior Default Notice promptly upon the occurrence of each Junior Default, which notice shall specify the date of first occurrence thereof and the nature of such Junior Default, and the Junior Creditors shall notify the Trustee promptly in the event such Junior Default is cured or waived.
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The Senior Agent shall be irrevocably authorized to file any required proof of claim if the Junior Creditors fail to do so in a timely manner.