Senior Expenses definition

Senior Expenses means any expenses of the Issuer which rank in priority to the Class A Notes in the relevant Priority of Payments.

Senior Expenses means amounts due and payable in the following order of priority:

Senior Expenses means any expenses of the Issuer which rank in priority to the payment of interest on the Class A Notes in the relevant Priorities of Payments.

Examples of Senior Expenses in a sentence

• Available Redemption Receipts (if any) may only be redirected as Principal Addition Amounts in respect of a Senior Expenses Deficit.

• In addition to the above, payments on the Notes and the Residual Certificates are subordinate to payments of certain senior ranking fees, costs and expenses, including those payable as Senior Expenses.

• Any such payments shall be paid to the Account Bank from Interest Proceeds, without regard to the Priorities of Payment and shall not be subject to the Senior Expenses Cap and may, accordingly, have a negative impact on the amounts available to the Issuer to apply as payments on the Notes.

• The Tranche C Loan, will be an amount equal to the amount of interest required by the Issuer to pay interest due and payable on the Class C Notes on such Payment Date less an amount equal to any Principal Addition Amounts used to cure any Senior Expenses Deficit on the Class C Notes in accordance with item (a) of the relevant section of the Issuer Pre-Enforcement Redemption Priority of Payments.

• Available Principal Receipts (if any) may only be redirected as Principal Addition Amounts in respect of a Senior Expenses Deficit.

More Definitions of Senior Expenses

Senior Expenses means any expenses of the Issuer which rank in priority to the Most Senior Class of Notes in the relevant Priority of Payments;

Senior Expenses means all liabilities, indemnities, costs, fees and expenses due or owing to the Senior Note Trustee, the Security Trustee or the Senior Paying Agent under the Financing Documents.

Senior Expenses means all fees, costs, charges, expenses, liabilities and other amounts described in paragraphs (1) and (2) of Condition 3.2(a)(v) but excluding any Initial Transaction Costs properly paid from the Funding Account pursuant to Condition 2.7(b)(ii);

Senior Expenses means all costs, sums and expenses incurred or to be incurred in respect of items (ii), (iii), and (iv) of the Pre-Enforcement Revenue Payment Priorities. Retained Profit Prior to the delivery of an Enforcement Notice, on each Interest Payment Date, the Issuer will transfer to the Retained Profit Account an amount equal EUR 80 (the Rouble equivalent of which will be debited from the Transaction Account as calculated at the official exchange rate of the Central Bank of the Russian Federation on the relevant Determination Date), for each calendar month or part thereof by way of retained profit. Resignation and removal of the Cash ManagerThe Cash Manager may at any time resign its appointment upon not less than one month's notice in writing to the Issuer, the Mortgage Administrator and the Trustee, provided that such resignation will not take effect until a successor acceptable to the Issuer and the Trustee has been duly appointed by the Issuer on terms substantially similar to those of the appointment of the Cash Manager under the Cash Management Agreement. If the Issuer has not appointed a successor prior to the expiry of the notice period given by the Cash Manager, the Cash Manager will be entitled (but not obliged) to nominate such a successor. The Issuer (with the prior written consent of the Trustee) or the Trustee may at any time revoke the appointment of the Cash Manager upon not less than one month's notice in writing to the Cash Manager, provided that such removal will not take effect until a successor acceptable to the Issuer and the Trustee has been duly appointed by the Issuer on terms substantially similar to those of the appointment of the Cash Manager under the Cash Management Agreement. In addition to the right of revocation as set out above, the Issuer may, with the prior written consent of the Trustee, or the Trustee may itself, by written notice of termination to the Cash Manager, terminate the Cash Manager's appointment under the Cash Management Agreement on the date specified in such notice immediately or at any time after the occurrence of any of the following events:

Senior Expenses means those expenses listed as Items First to Fifth (inclusive) in the Pre-Enforcement Series 2 Priority of Payments applicable during the Revolving Period;

Senior Expenses means, on any date, an amount, as calculated by the Investment Administrator (based on the information received from the Issuer, the Calculation Agent and/or the Portfolio Manager or in the Investment Administrator's possession for the purposes of the performance of its obligations under the Transaction Documents at such time) on or about the day which is 5 Business Days prior to such date, equal to the aggregate of the following (but only, except for SPV Costs, to the extent payable or accrued due but unpaid on such date):

Senior Expenses means fees, expenses and indemnity claims only, to be paid to the Collateral Administrator, the Calculation Agent, the Principal Paying Agent, the Account Bank, the Custodian, the Corporate Services Provider, the Placement Agent, the FX Liquidity Facility Provider, the Collateral Manager and the Rating Agencies.