Junior Obligation definition

Junior Obligation means the Shares, and any other class of the Issuer’s share capital and any instrument or other obligation (including without limitation any preference shares) issued or guaranteed by the Issuer that ranks or is expressed to rank junior to the Capital Securities by operation of law or contract.

Junior Obligation means any ordinary shares of the Issuer and any class of the Issuer’s share capital and any other instruments or securities (including without limitation any preference shares, preferred units or subordinated perpetual securities) issued, entered into or guaranteed by the Issuer that ranks or is expressed to rank, whether by its terms or by operation of law, junior to the Perpetual Securities; and

Junior Obligation means ordinary shares of any class of the Issuer;

Examples of Junior Obligation in a sentence

• Junior Lienholders agree that the balance of such proceeds remaining after such restoration, or all of such proceeds in the event Bank elects, in accordance with Colorado law, not to release any such proceeds for any such restoration, shall be applied to the payment of amounts due under the Senior Loan Documents until all such amounts have been paid in full, prior to being applied to the payment of any amounts due under the Junior Obligation Documents.

• Further, any change to the Junior Obligation Documents and the Senior Loan Documents that results in an increase in the interest rate, an increase of the total indebtedness, an acceleration of the amortization or payment schedule, or any changes that would preclude or impair a reasonable opportunity to cure any defaults by the Borrower under the Junior Obligations Documents and Senior Loan Documents shall not be effective without the prior written consent of HUD.

• In the event of any conflicts between (i) the Junior Obligation Documents and the Senior Loan Documents and (ii) the RAD Use Agreement, the terms of the RAD Use Agreement shall control.

• Further, the Junior Obligation Documents and Senior Loan Documents shall remain automatically subordinate to the RAD Use Agreement in the event any subsequent modification or amendments are deemed necessary to the RAD Use Agreement; provided, that the Senior Lender has been given notice of such modification or amendment prior to the execution thereof.

• This Agreement shall be the whole and only agreement with regard to the subordination of the lien or charge of the Junior Obligation Documents to the lien or charge of the Senior Mortgage (except with respect to the subordination provisions contained in the Junior Obligation Documents, to the extent not inconsistent with any provision in this Agreement).

More Definitions of Junior Obligation

Junior Obligation means the Shares, and any other class of DSB’s share capital and any instrument or other obligation issued or guaranteed by DSB that ranks or is expressed to rank junior to the Dated Subordinated Notes by operation of law or contract;

Junior Obligation means (i) any Share and (ii) any class of the Issuer’s share capital and any instrument or security (including without limitation any preference shares) issued, entered into or guaranteed by the Issuer which ranks or is expressed to rank, by its terms or by operation of law, junior to a Capital Security;

Junior Obligation means all classes of the Issuer’s share capital, any CET1 Capital Instruments, and any instrument or other obligation (including without limitation any preference shares) issued, entered into, or guaranteed by the Issuer that ranks or is expressed to rank junior to the Capital Securities by operation of law or contract.

Junior Obligation means the ordinary shares of the Issuer or any other securities ranking pari passu therewith;

Junior Obligation means any class of equity capital in KIT and any instrument or security issued, entered into or guaranteed by the Issuer, other than any instrument or security (including without limitation any preferred units) ranking in priority in payment and in all other respects to the ordinary units of KIT.

Junior Obligation means, in relation to the Issuer or the Guarantor, any of its ordinary shares and any class of its share capital and any other instruments or securities (including without limitation any preference shares or subordinated perpetual securities) issued, entered into or guaranteed by the Issuer or, as the case may be, the Guarantor that ranks or is expressed to rank, whether by its terms or by operation of law, junior to the Perpetual Securities or, as the case may be, the Guarantee (as defined in the Trust Deed); and

Junior Obligation means all classes of the Issuer’s ordinary share capital, any Tier 1 Capital Instruments which are not Additional Tier 1 Capital Instruments and any instrument or other obligation issued, entered into or guaranteed by the Issuer that ranks or is expressed to rank junior to the Undated Capital Securities by operation of law or contract.