Examples of Junior Debt Documents in a sentence
Nothing in this Section 2.3 limits a Senior Lender from objecting in an Insolvency Proceeding to any action taken by a Junior Creditor, including the Junior Creditor’s seeking adequate protection (other than adequate protection for the Junior Creditors expressly contemplated by Section 2.3(d) or (e)), proposing any DIP Financing or asserting any of its rights and remedies under the Junior Debt Documents or otherwise.
The Authority shall be entitled to receive a [●]% share of any Refinancing Gain arising from a Qualifying Refinancing in relation to Senior Credit Providers’ Agreements and a [●]% share of any Refinancing Gain arising from a Qualifying Refinancing in relation to Junior Debt Documents.
Notwithstanding anything to the contrary in this Agreement, the Junior Representatives and the Junior Debt Parties may exercise rights and remedies as unsecured creditors against the Borrower and any other Grantor in accordance with the terms of the Junior Debt Documents and applicable law so long as such rights and remedies do not violate the provisions of this Agreement.
Each Junior Creditor acknowledges and agrees that (a) the grants of Liens pursuant to the Senior Debt Documents and the Junior Debt Documents constitute two separate and distinct grants of Liens and (b) because of their differing rights in the Collateral, the Junior Debt is fundamentally different from the Senior Debt and must be separately classified in any plan of reorganization proposed or adopted in an Insolvency Proceeding.
While Wrigley was CEO, the Talladega Entities—who signed the Junior Debt Documents with the Company in or around May 2021—mostly remained on the sidelines.