Specified Senior Indebtedness Clause Samples
The "Specified Senior Indebtedness" clause defines certain debts or financial obligations that are given priority over other forms of indebtedness in the event of a default or liquidation. Typically, this clause lists or describes particular loans, credit facilities, or other financial instruments that are considered senior, meaning they must be repaid before subordinated or junior debts. For example, a company’s primary bank loan or a syndicated credit agreement might be designated as Specified Senior Indebtedness. The core function of this clause is to clearly identify which debts have repayment priority, thereby protecting the interests of senior lenders and providing clarity to all parties regarding the order of payment in adverse situations.
Specified Senior Indebtedness. The Parties acknowledge and agree that the Indebtedness hereunder is specifically designated "Designated Senior Indebtedness" as required by the 2002 Senior Subordinated Indenture pursuant to which the 2002 Senior Subordinated Notes have been issued.
Specified Senior Indebtedness. The Indebtedness of the Borrower constitutes “Senior Indebtedness” and “Specified Senior Indebtedness,” and the Indebtedness of each Guarantor under the Loan Documents to which it is a party constitutes “Guarantor Senior Indebtedness” and “Specified Guarantor Senior Indebtedness,” in each case, under and as defined in the Second Lien Term Loan Agreement pursuant to which the Second Lien Notes have been issued.
Specified Senior Indebtedness. 100 Section 12.15 Limitation of Liability of the General Partner.............................................100 Annex I List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Compliance Certificate Exhibit C-1 Form of Legal Opinion of Akin, Gump, Strauss, ▇▇▇▇▇ & ▇▇▇▇, L.L.P., special counsel to the Borrower Exhibit C-2 Form of Legal Opinion of Local Counsel Exhibit D-1 Security Instruments Exhibit D-2 Form of Guaranty and Collateral Agreement Exhibit E Form of Assignment and Assumption Exhibit F-1 Form of Maximum Credit Amount Increase Certificate Exhibit F-2 Form of Additional Lender Certificate Schedule 1.02 Swap Agreements with BoA Schedule 7.03 Approvals Schedule 7.05 Litigation Schedule 7.06 Environmental Matters Schedule 7.14 Restriction on Liens Schedule 7.15 Subsidiaries and Partnerships; Unrestricted Subsidiaries Schedule 7.17 Properties; Titles, Etc. Schedule 7.19 Gas Imbalances Schedule 7.20 Marketing Contracts Schedule 7.21 Swap Agreements Schedule 9.03 Liens Schedule 9.05 Investments Schedule 9.07 Nature of Business THIS CREDIT AGREEMENT dated as of July 3, 2002, is among: PLAINS EXPLORATION & PRODUCTION COMPANY, L.P., a limited partnership duly formed and existing under the laws of the State of California (the "Borrower"); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK (in its individual capacity, "JPMorgan"), as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the "Administrative Agent"); BANK ONE, NA (MAIN OFFICE CHICAGO) and FLEET NATIONAL BANK, as syndication agents for the Lenders (each, in such capacity, together with its successors in such capacity, a "Syndication Agent"); and BNP PARIBAS and FORTIS CAPITAL CORP., as documentation agents for the Lenders (each, in such capacity, together with its successors in such capacity, a "Documentation Agent").
Specified Senior Indebtedness. The Indebtedness of the Borrower constitutes "Senior Indebtedness" as defined in the Intercreditor Agreement."
Specified Senior Indebtedness. The Obligations shall constitute Specified Senior Indebtedness (as defined in each of the Subordinated Debt Indentures).
Specified Senior Indebtedness. 97 Section 12.15
Specified Senior Indebtedness. The Parties acknowledge and agree that the Indebtedness hereunder is specifically designated "Specified Senior Indebtedness" as required by the Senior Notes Indenture pursuant to which the Senior Notes have been issued. The parties hereto have caused this Agreement to be duly executed as of the day and year first above written. BORROWER: ENERGY PARTNERS, LTD. By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ------------------------------- Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Title: Treasurer ADMINISTRATIVE AGENT JPMORGAN CHASE BANK, Individually and AND LENDER: as Administrative Agent By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇ _____________________________ Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇ _____________________________ Title: Managing Director _____________________________ [Signature Page - Credit Agreement] SYNDICATION AGENT AND BNP PARIBAS, Individually and LENDER: as Syndication Agent By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇ _______________________________ Name: ▇▇▇▇▇ ▇▇▇▇▇▇ _______________________________ Title: Vice President _______________________________ By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇ _______________________________ Name: ▇▇▇▇ ▇▇▇▇▇▇▇ _______________________________ Title: Vice President _______________________________ CO-DOCUMENTATION AGENT WACHOVIA BANK, NATIONAL AND LENDER: ASSOCIATION, Individually and as Co-Documentation Agent By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ _______________________________ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ _______________________________ Title: Director _______________________________ CO-DOCUMENTATION AGENT ▇▇▇▇▇ FARGO BANK, NATIONAL AND LENDER: ASSOCIATION, Individually and as Co-Documentation Agent By: /s/ ▇▇▇▇ ▇▇▇▇▇▇ _______________________________ Name: ▇▇▇▇ ▇▇▇▇▇▇ _______________________________ Title: Vice President _______________________________ LENDER: ROYAL BANK OF CANADA By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ _____________________________ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ _____________________________ Title: Authorized Signatory _____________________________ [Signature Page - Credit Agreement] LENDER: WHITNEY NATIONAL BANK By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ _____________________________ Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ _____________________________ Title: Senior Vice President _____________________________ ANNEX I LIST OF MAXIMUM CREDIT AMOUNTS AGGREGATE MAXIMUM CREDIT AMOUNTS APPLICABLE MAXIMUM CREDIT NAME OF LENDER PERCENTAGE AMOUNT ------------------------------------------------------------------- JPMorgan Chase Bank 20% $ 40,000,000 BNP Paribas 20% $ 40,000,000 ▇▇▇▇▇ Fargo Bank, National Association 15% $ 30,000,000 Wachovia Bank, National Association 15% $ 30,0...
Specified Senior Indebtedness. The Indebtedness of the Borrower constitutes “Senior Indebtedness” as defined in the Second Lien Term Loan Documents.”
2.6 Amendment to Section 9.02(g). Section 9.02(g) is hereby amended by replacing “$100,000,000” with “$75,000,000”.
2.7 Amendment to Section 9.04(b). Section 9.04(b)(iii) is hereby amended and restated in its entirety as follows:
Specified Senior Indebtedness. The Parties acknowledge and agree that the Indebtedness hereunder is specifically designated "Specified Senior Indebtedness" the Second Lien Term Loan Documents.