Superior Indebtedness. The words “Superior Indebtedness” mean the indebtedness described in the section of this Agreement titled “Superior Indebtedness”.
Superior Indebtedness. The words “Superior Indebtedness” as used in this Agreement mean and include all present and future indebtedness, obligations, liabilities, claims, rights, and demands of any kind which may be now or hereafter owing from Borrower to Lender. The term “Superior Indebtedness” is used in its broadest sense and includes without limitation all principal, all interest, all costs, reasonable attorneys’ fees, all sums paid for the purpose of protecting Lender’s rights in security (such as paying for insurance on collateral if the owner fails to do so), all contingent obligations of Borrower (such as a guaranty), all obligations arising by reason of Borrower’s accounts with Lender (such as an overdraft on a checking account), and all other obligations of Borrower to Lender, secured or unsecured, of any nature whatsoever.
Superior Indebtedness. The term "Superior Indebtedness" shall mean the indebtedness owed by the Company to the Frost National Bank and American Bank as described in the subordination agreements previously entered into between Holder and each Bank.
Superior Indebtedness. 12 Trustee............................................. 12
Superior Indebtedness. The term Superior Indebtedness shall mean the indebtedness owed by the Company to (i) Frost National Bank as disclosed in the subordination agreement previously entered into between Holder and Frost National Bank and (ii) the Company’s guarantee of Pioneer Drilling Services, Ltd.’s Fourteen Million Five Hundred Thousand and No/100 Dollars ($14,500,000.00) term loan from Xxxxxxx Xxxxx Capital, a division of Xxxxxxx Xxxxx Business Financial Services, Inc.”
1.04 Amendment to Section 6.08
Superior Indebtedness. For purposes of this Agreement and specifically this Article 10 and Article 12 hereof, the term "Superior Indebtedness" shall be indebtedness currently outstanding or hereinafter incurred of the Company defined as follows: The principal of, and accrued and unpaid interest on (a) indebtedness of the Company incurred in the ordinary course of business for money borrowed or in respect of letters of credit issued for its own account, to (i) any bank or trust company organized under the laws of the United States or any state; (ii) any savings and loan association; or (iii) to the Xxxxx Mortgage Trust under that certain agreement dated March 9, 1999; (b) obligations of the Company incurred pursuant to agreements to factor the accounts receivable of the Company; (c) purchase money obligations entered into in the ordinary course of business, evidenced by notes, lease-purchase agreements, purchase contracts or agreements, or similar instruments for the payment of which the Company is responsible or liable, by guarantees or otherwise; (d) obligations of the Company incurred in the ordinary course of business under any agreement to lease, or lease of, any real or personal property which are required to be capitalized in accordance with generally accepted accounting principles, or any other agreement to lease, or lease of, any real or personal property for the benefit of the Company which, by the terms thereof, are expressly designated as Superior Indebtedness; and (e) any modification, renewal, extension or refunding of any such indebtedness, guarantee or obligation; in every case, whether such indebtedness, guarantee or obligation, or such modification, renewal, extension or refunding thereof, was outstanding on the date of execution of this Agreement or thereafter created, incurred or assumed.
Superior Indebtedness. The words “Superior Indebtedness” mean and include without limitation all present and future indebtedness, obligations, liabilities, claims, rights and demands of any kind which may be now or hereafter owing from Borrower to Lender. The term “Superior Indebtedness” is used in its broadest sense and includes without limitation all principal, all interest, all obligations under letters of credit issued by the Lender for the benefit of the Borrower, all costs and attorneys’ fees, all sums paid for the purpose of protecting Lender’s rights in security (such as paying for insurance on collateral if the owner fails to do so), all contingent obligations of Borrower (such as a guaranty), all obligations arising by reason of Borrower’s accounts with Lender (such as an overdraft on a checking account), and all others obligations of Borrower to Lender, secured or unsecured, of any nature whatsoever.
Superior Indebtedness. See Section 11.1(e).
Superior Indebtedness. The term "Superior Indebtedness" shall mean (a) Funded Debt, being all Indebtedness having a final maturity of more than one year, and all guarantees of Indebtedness extending more than one year, from its "date of origin" or which is renewable or extendable at the option of the obligor for a period or periods of more than one year from its date of origin, and all amounts due under Capitalized Leases reflected on the balance sheets; and (b) Current Debt, being all unsecured Indebtedness for money borrowed, payable on demand or having a maturity of not more than one year from the date of determination (other than current maturities of Funded Debt) and not extendable or renewable at the option of obligor.
Superior Indebtedness. The Credit Agreement (as defined in Section --------------------- I(D) and all other documents executed in connection therewith constitute the only "Superior Indebtedness" of the Purchaser as that term is used in the Note Subordination Agreement (as hereinafter defined) and the Contingent Payment Subordination Agreement (as hereinafter defined).
