Common use of Definition of Senior Indebtedness Clause in Contracts

Definition of Senior Indebtedness. The term "Senior Indebtedness," as used in this Agreement, shall mean the principal and interest on the following, whether outstanding at the date of execution of this Agreement or thereafter incurred, created, assumed, modified, renewed or extended: (w) indebtedness of the Company for money borrowed (including the loan with Security Bank); (x) the financial obligations of the Company to CenCor existing as of the date hereof (which will be repaid in full and released at Closing); (y) obligations of the Company as lessee under any lease of property which is reflected on the Company's balance sheet as a capitalized lease in accordance with generally accepted accounting principles ("GAAP"); and (z) guarantees by the Company of indebtedness for money borrowed by a Subsidiary or of any obligations of a Subsidiary under any lease of property which is reflected on the Subsidiary's balance sheet as a capitalized lease in accordance with GAAP.

Definition of Senior Indebtedness. The term "Senior Indebtedness," as --------------------------------- ------------------- used in this Agreement, shall mean the principal and interest on the following, whether outstanding at the date of execution of this Agreement or thereafter incurred, created, assumed, modified, renewed or extended: (w) indebtedness of the Company for money borrowed (including the loan with Security Bank); (x) the financial obligations of the Company to CenCor existing as of the date hereof (which will be repaid in full and released at Closing); (y) obligations of the Company as lessee under any lease of property which is reflected on the Company's balance sheet as a capitalized lease in accordance with generally accepted accounting principles ("GAAP"); and (z) guarantees by the Company of ---- indebtedness for money borrowed by a Subsidiary or of any obligations of a Subsidiary under any lease of property which is reflected on the Subsidiary's balance sheet as a capitalized lease in accordance with GAAP.

Definition of Senior Indebtedness. The term "Senior Indebtedness," as --------------------------------- ------------------- used in this Agreement, shall mean the principal and interest on the following, whether outstanding at the date of execution of this Agreement or thereafter incurred, created, assumed, modified, renewed or extended: (w) indebtedness of the Company for money borrowed (including the loan with Security Bank); (x) the financial obligations of the Company to CenCor existing as of the date hereof (which will be repaid in full and released at Closing); (y) obligations of the Company as lessee under any lease of property which is reflected on the Company's balance sheet as a capitalized lease in accordance with generally accepted accounting principles ("GAAP"); and (z) guarantees by ---- the Company of indebtedness for money borrowed by a Subsidiary or of any obligations of a Subsidiary under any lease of property which is reflected on the Subsidiary's balance sheet as a capitalized lease in accordance with GAAP.