Senior Obligation definition

Senior Obligation means any obligation which is not Subordinated to any unsubordinated Borrowed Money obligation of the relevant Reference Entity.

Senior Obligation means a debt obligation of the Recipient that is senior to this Obligation. There are no Senior Obligations.

Senior Obligation means (a) the obligations of the Company to Senior Lender pursuant to that certain General Continuing Guaranty and that certain Security Agreement (All Assets) by and between the Company and Senior Lender, each dated October 26, 2004, each as amended, restated and renewed from time to time; and (b) the obligations of the subsidiaries of the Company pursuant to that certain Loan and Security Agreement dated October 26, 2004, as amended, restated and renewed from time to time.

Examples of Senior Obligation in a sentence

• The Offering Proceeds Note Guarantor further agrees that its Guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or (premium, if any) interest on any Senior Obligation is rescinded or must otherwise be restored by the Issuer upon the bankruptcy or reorganization of Level 3 LLC or otherwise.

• The subordination provisions contained herein are for the direct benefit of, and may be enforced by, any holder of a Senior Obligation, and may not be terminated, amended or otherwise revoked until the Senior Obligations have been indefeasibly paid in full in cash and the Related Documents terminated in accordance with their respective terms.

• The TIFIA Bond and each other Senior Obligation outstanding as of the Effective Date have received a public credit rating of “A-” or “A3” (or the equivalent thereto) or higher from at least two (2) Nationally Recognized Rating Agencies, and written evidence of each such public rating has been provided to the TIFIA Lender prior to the Effective Date, and neither public rating has been reduced, withdrawn or suspended as of the Effective Date.

• If a candidate arrives in the afternoon for a paper that had been re-arranged for a morning session, the candidate may be allowed to take the paper at the published time as long as he/she has not had any contact with any candidate who sat the paper earlier.

• A failure to pay principal of, premium, if any, or interest on this Class B Note will not constitute an Event of Default under the Indenture if any Senior Obligation is Outstanding.

More Definitions of Senior Obligation

Senior Obligation means indebtedness of the District meeting the definition of a “Senior Bond” within the meaning of the District Indenture (which includes the Series 2021 Bonds).

Senior Obligation means (a) any Bonds issued by the Corporation under the Indenture and (b) any bonds or other obligations issued pursuant to the Indenture.

Senior Obligation means any obligation of a Reference Entity which is Borrowed Money other than a Bond (or is an undrawn credit facility which, if drawn, would be an obligation of a Reference Entity which is Borrowed Money) and which, as of the Delivery Date, is secured by a security interest over the same assets as secure one or more Reference Obligations and is entitled to receipt of the application of proceeds realised following enforcement of such security interest and benefits from the same or equivalent guarantees or other collateral as one or more Reference Obligations, in each case having a priority or ranking senior to the Reference Obligations.

Senior Obligation means any (i) Debt other than accounts payable incurred in the ordinary course of the Company's business and (ii) any equity securities of the Company which rank senior to the Series C Preferred Stock with respect to the payment of dividends or the distribution of assets upon liquidation, dissolution or winding up of the Company.

Senior Obligation means a Collateralised Debt Obligation that is a Senior Secured Loan or a Senior Unsecured Obligation.

Senior Obligation means a Collateral Obligation that is a Secured Senior Obligation, an Unsecured Senior Obligation or a Second Lien Loan, as determined by the Collateral Manager in its reasonable commercial judgement.

Senior Obligation means an obligation of the Recipient that is payable from and secured by a pledge of the Net Revenues on a basis senior to this Obligation. The outstanding Senior Obligation is this: • The portion of the 1999 Bonds secured by a pledge of the City’s Wastewater Treatment and Wastewater System enterprises.