Senior Interest Clause Samples
Senior Interest. Except as set forth herein, the Notes and the Secured Obligations shall be senior to all other obligations of Borrower other than trade debt and other debt incurred in the ordinary course of business.
Senior Interest. Collectively, (i) the obligation of the Company and the Master Servicer to identify, and to turn over, Collections and other proceeds of the Asset Interest acquired by the Purchaser pursuant to the Receivables Purchase Agreement, (ii) any Indemnified Amounts and (iii) all other obligations of the Company that are due and payable to any Affected Party, together with all interest accruing on any such amounts after the commencement of any Bankruptcy Proceedings, notwithstanding any provision or rule of law that might restrict the rights of any Senior Interest Holder, as against the Company of anyone else, to collect such interest.
Senior Interest. The Senior Notes shall bear interest at a fixed rate equal to the sum of the applicable Senior Swap Rate plus the applicable Senior Applicable Margin (calculated on the basis of a year of 360 days consisting of 12 30-day months). Such interest rate shall be determined as provided in the following clauses (i), (ii) and (iii) of this Section 3(b).
Senior Interest. Collectively, (i) the obligation of the Buyer and the Collection Agent to set aside, and to turn over, Collections and other proceeds of the Receivables and other collateral pledged to the Agent for the benefit of the Committed Purchasers pursuant to the Receivables Sale Agreement and (ii) all other obligations of the Buyer that are due and payable to any Senior Interest Holder under the Receivables Sale Agreement, together with all interest accruing on any such amounts after the commencement of any Bankruptcy Proceedings (as defined herein), notwithstanding any provision or rule of law that might restrict the rights of any Senior Interest Holder, as against the Buyer of anyone else, to collect such interest.
Senior Interest. (i) The Senior Notes of each Tranche and Series shall bear interest at a fixed rate equal to the Senior Interest Rate for such Series and Tranche.
Senior Interest. The Borrower shall, subject to the terms and conditions of this Section 3(b), have the right to elect on or prior to the date that is two Business Days prior to the Funding Date that the Senior Loans bear interest either at a Floating Rate or a Fixed Rate.
Senior Interest. The purchase price for the initial --------------- Purchase of the Senior Interest and for each additional Purchase shall be an amount equal to eighty-four percent (84%) of the Net Receivables Balance of the Eligible Receivables subject to such Purchase.