Examples of Senior Secured Loans in a sentence

For purposes of calculating the Collateral Quality Test, DIP Collateral Obligations will be treated as having an S&P Recovery Rate equal to the S&P Recovery Rate for Senior Secured Loans.
Nature of Collateral; defaultsThe Issuer will invest in a portfolio of Collateral Debt Obligations consisting at the time of acquisition of predominantly Senior Secured Loans, Senior Secured Bonds, Corporate Rescue Loans, Senior Unsecured Obligations, Second Lien Loans, High Yield Bonds and Mezzanine Obligations, as well as certain other investments, all of which will have greater credit and liquidity risk than investment grade sovereign or corporate bonds or loans.
For purposes of calculating the Collateral Quality Test, DIP Collateral Obligations shall be treated as having an S&P Recovery Rate equal to the S&P Recovery Rate for Senior Secured Loans unless otherwise assigned by S&P.
Senior Secured Loans usually have shorter terms than more junior obligations and often require mandatory repayments from excess cash flow, asset dispositions and offerings of debt and/or equity securities.
For purposes of calculating the Collateral Quality Test, DIP Collateral Obligations shall be treated as having an S&P Recovery Rate equal to the S&P Recovery Rate for Senior Secured Loans.

More Definitions of Senior Secured Loans

Senior Secured Loans means senior secured loans that are secured by a first lien or a second lien on some or all of the obligor’s assets, including, without limitation, traditional senior secured loans and any related Revolving Credit Loan or delayed draw loan as well as loans provided pursuant to unitranche credit facilities which are secured by a first lien on some or all of the obligor’s assets.

Senior Secured Loans means a Collateral Loan (i) that is not subordinated in right of payment by its terms (including by operation of a payment waterfall in the Related Documents) to indebtedness of the Obligor for borrowed money (other than with respect to liquidation, capitalized leases, other similar obligations, or is a Split Lien Transaction) and the Lien of which is not contractually subordinated to any other secured obligation of the Obligor secured by all or a portion of the collateral securing such Collateral Loan; (ii) is secured by a valid and perfected first priority Lien on, subject to customary exceptions, substantially all of the Obligor’s assets constituting Related Property for the Collateral Loan, subject to any “permitted liens” as defined in the applicable Related Documents for such Collateral Loan or such comparable definition if “permitted liens” is not defined therein, so long as such definition is reasonable and customary; (iii) as of the date such Collateral Loan is initially included in the Collateral, has a Loan-to-Value Ratio not greater than 65% and with respect to which the Obligor Net Leverage Ratio is less than 4.5 to 1.0; and (iv) that is not secured solely or primarily by the common stock or other equity interests of its Obligor or any of its Affiliates.

Senior Secured Loans means a Loan (or participation therein) that is a senior secured obligation as determined by the Servicer in its reasonable business judgment, provided that:

Senior Secured Loans the loans made pursuant to the Senior Secured Loan Agreement.

Senior Secured Loans means “Loans” as defined in the Senior Secured Credit Facilities.

Senior Secured Loans means Opco’s Senior Secured Loans extended pursuant to the Credit Agreement.

Senior Secured Loans as defined in the recitals hereto.