Junior Secured Obligations Sample Clauses

Junior Secured Obligations. [ ] (the “Hedging Counterparty”) has entered into [ describe Commodity Hedge Agreement ] dated as of , (the “Junior Hedge Agreement”) with the Borrower. The Borrower may, from time to time (whether before or after the date hereof), enter into one or more Commodity Hedge Agreements with the Hedging Counterparty or any other Person (each such other Person, an “Other Junior Hedging Counterparty”). So long as the Hedging Counterparty and any such Other Junior Hedging Counterparty shall have entered into an accession agreement substantially in the form of Annex A hereto (the “Accession Agreement”), the Borrower may, from time to time prior to the Collateral Release Date (whether before or after the date hereof), grant to the Hedging Counterparty and such Other Junior Hedging Counterparty (collectively, the “Junior Secured Creditors”), respectively, a security interest in the Collateral pursuant to the Junior Collateral Documents; provided that, notwithstanding the foregoing, the Borrower shall be permitted to grant the security interests permitted under Section 5.02(a)(vi) and (viii) of the Senior Credit Agreement to the Hedging Counterparty and Other Junior Hedging Counterparties without any such Person being a party to, or otherwise executing an Accession Agreement in respect of, an agreement with the Senior Agent containing these Intercreditor Terms. “Junior Collateral Documents” means all security agreements, pledge agreements, mortgages and other agreements creating any Lien in favor of the Junior Secured Creditors; the Junior Hedge Agreement, Commodity Hedge Agreements with Other Junior Hedging Counterparties, the Junior Collateral Documents and all other documents and agreements executed in connection with the Junior Hedge Agreement and Commodity Hedge Agreements with Other Junior Hedging Counterparties are collectively referred to herein as the “Junior Hedge Documents.”

Junior Secured Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment in full when due, whether at stated maturity, by acceleration or otherwise (including amounts which would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations of the Pledgor now or hereafter existing under the Subordinated Debt Indenture and the Subordinated Debt Securities issued thereunder, in each case whether for principal, premium, interest (including, without limitation, interest which, but for the filing of a petition in a bankruptcy, reorganization or other similar proceeding with respect to the Pledgor, would accrue on such obligations), fees, expenses or otherwise, and all obligations of the Pledgor now or hereafter existing under this Agreement (all such obligations of the Pledgor being the "JUNIOR SECURED OBLIGATIONS"); provided that the pledge made and the security interest granted in Section 1B and any other provisions of this Agreement shall be effective as to any obligations in respect of the Subordinated Debt Indenture and the Subordinated Debt Securities issued thereunder only if the Subordinated Debt Trustee shall have executed and delivered to the Collateral Agent a counterpart of the Intercreditor Agreement.