Designated Senior Claims definition

Designated Senior Claims means all Obligations of, and all Claims against, the Note Guarantor (i) under the Credit Agreement, (ii) held by or for the benefit of the PBGC pursuant to any settlement of any actual or alleged ERISA Section 4062(e) event occurring (or alleged to have occurred) before or after the Issue Date, (iii) held by any party with respect to any Equity Investment or any commitment to make any such Equity Investment of the Issuer, in each case, made after the Issue Date with respect to the financing of the American Centrifuge Project, (iv) held by or for the benefit of the U.S. Department of Energy, export credit agencies or any other lenders or insurers providing financing or government support of the American Centrifuge Project and (v) held by the United States government.
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Designated Senior Claims has the meaning set forth in the Initial Junior Lien Indenture as of the date of execution thereof but shall also include any Refinancing thereof.
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Designated Senior Claims means all Obligations of, and all Claims against, the Note Guarantor (i) under the Credit Facilities up to $50 million with a maximum net borrowing of $40 million after taking into account any minimum cash balance, (ii) under the Inventory Revolver, (iii) held by or for the benefit of the PBGC pursuant to any settlement (including any required funding of pension plans), and (iv) under surety bonds or similar obligations held by the United States government pursuant to regulatory requirements. 4
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Examples of Designated Senior Claims in a sentence

  • Only the Issuer, the Note Guarantor or a Representative or a holder of Designated Senior Claims shall be entitled to give the notice; provided, however, that, if any Designated Senior Claim has a Representative, only the Representative shall be entitled to give the notice.

  • Interestingly, when considering bond-equity adjusted vol- ume correlation, the average correlation shows an increase.

  • The foregoing provisions are intended as an inducement to the present and future holders of the Designated Senior Claims and such holders are intended third party beneficiaries of the Intercreditor Agreement.

  • The Note Guarantor agrees, and each Holder by accepting a Note agrees, that the obligations of the Note Guarantor under its Guarantee are subordinated in right of payment, to the extent and in the manner provided in this Article 11, to the prior payment in full of all Designated Senior Claims (whether outstanding on the date hereof or hereafter created, incurred, assumed or guaranteed) and that the subordination is for the benefit of and enforceable by the holders of such Designated Senior Claims.

  • No amendment of, or supplement to, the Intercreditor Agreement shall be permitted to be effected without the consent of the Collateral Agent and of any Representative for any Designated Senior Claims as may be required thereunder.

  • A distribution made under this Article 11 to holders of such Designated Senior Claims which otherwise would have been made to Holders is not, as between the Note Guarantor and Holders, a payment by the Note Guarantor on the Guarantee.

  • This Article 11 defines the relative rights of Holders and holders of Designated Senior Claims of the Note Guarantor.

  • The provisions of Section 11.08 through Section 11.24 hereof may not be amended or modified without the written consent of holders of all Designated Senior Claims.

  • For purposes of this Article 11 of this Indenture, the existence of an Outstanding Government Claim shall constitute a payment default with respect to any Claims within the meaning of clause (v) of the definition of Designated Senior Claims.

  • The foregoing lien subordination is for the benefit of and enforceable by holders of Designated Senior Claims.


More Definitions of Designated Senior Claims

Designated Senior Claims means obligations and claims (i) under the Credit Facility, (ii) under the Inventory Revolver, (iii) held by or for the benefit of the Pension Benefit Guaranty Corporation (“PBGC”) pursuant to any settlement (including any required funding of pension plans), and (iv) under surety bonds or similar obligations held by or on behalf of the U.S. government pursuant to regulatory requirements.The collateral for the Guarantor guarantees of the Existing Notes and the New Notes Guarantee will be substantially identical, and will be subject to a pari passu intercreditor agreement providing for equal and ratable treatment as to such collateral. Termination of Guarantee The New Notes Guarantee will be terminable upon the same events as the Existing Notes Guarantee except the New Notes Guarantee will not be released upon an involuntary termination by PBGC of any of the qualified pension plans of the Company or Guarantor or an ACP Termination (as defined in the indenture of the Existing Notes). Guarantee Lien The lien securing the Guarantor guarantees of the Existing Notes and the New Notes shall be pari passu with each other, and shall be junior in priority with respect to the lien securing Limited Secured Acquisition Debt, which will be limited to the assets acquired with such Limited Secured Acquisition Debt. Covenants Substantially identical to the covenants for the Existing Notes, except as set forth in “Other Terms” below. Redemption The New Notes will have the same optional redemption features as the Existing Notes. Events of Default Identical to the Existing Notes. Securities Act Exemption Participating holders must certify that they are either qualified institutional buyers or “accredited investors.” The issuance of the New Notes will be exempt under 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). The Exchange Offer will also need to comply with any applicable state securities (blue sky) laws. Resale Restrictions/Registration Rights No registration rights. The New Notes will be restricted securities, available for resale only if an exemption exists, such as Rule 144 under the Securities Act.
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Designated Senior Claims means obligations and claims (i) under the Credit Facility, (ii) under the Inventory Revolver, (iii) held by or for the benefit of the Pension Benefit Guaranty Corporation (“PBGC”) pursuant to any settlement (including any required funding of pension plans), and (iv) under surety bonds or similar obligations held by or on behalf of the U.S. government pursuant to regulatory requirements.
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Designated Senior Claims means all Obligations of, and all Claims against, the Note Guarantor (i) under the Credit Facilities up to $50 million with a maximum net borrowing of $40 million after taking into account any minimum cash balance, (ii) under the Inventory Revolver, (iii) held by or for the benefit of the PBGC pursuant to any settlement (including any required funding of pension plans), and (iv) under surety bonds or similar obligations held by the United States government pursuant to regulatory requirements.”;
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Designated Senior Claims. “Issuer Senior Debt,” “Intercreditor Agreement” and “Security Documents” and replacing them with the following in alphabetical order:
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Related to Designated Senior Claims

  • Senior Claims means, (a) with respect to the RBL Priority Collateral, each of the First-Priority Lien Obligations secured by such Collateral and, (b) with respect to the Term/Notes Priority Collateral, each of the Second-Priority Lien Obligations secured by such Collateral.

  • Designated Senior Debt means (i) Indebtedness under or in respect of ---------------------- the Credit Agreement and (ii) any other Indebtedness constituting Senior Debt which, at the time of determination, has an aggregate principal amount of at least $25.0 million and is specifically designated in the instrument evidencing such Senior Debt as "Designated Senior Debt" by the Company.

  • Prior Claims means the Competing Claims to which the Authority’s right to the Building Aid is subordinated by the School Financing Act.

  • Designated Senior Representative means (i) if at any time there is only one Senior Representative for a Senior Facility with respect to which the Discharge of Senior Obligations has not occurred, such Senior Representative and (ii) at any time when clause (i) does not apply, the Applicable Authorized Representative (as defined in the First Lien Intercreditor Agreement) at such time.

  • Subordinated Claims shall have the meaning set forth in Section 3.6(c)(i) hereof.

  • Designated Senior Indebtedness means (i) Senior Indebtedness under the Credit Agreement and (ii) any other Senior Indebtedness the principal amount of which is $25.0 million or more and that has been designated by the Issuer as Designated Senior Indebtedness.

  • Program Obligations means (1) all applicable statutes and any regulations issued by the Secretary pursuant thereto that apply to the Project, including all amendments to such statutes and regulations, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and (2) all current requirements in HUD handbooks and guides, notices, and mortgagee letters that apply to the Project, and all future updates, changes and amendments thereto, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and provided that such future updates, changes and amendments shall be applicable to the Project only to the extent that they interpret, clarify and implement terms in this Agreement rather than add or delete provisions from such document. Handbooks, guides, notices, and mortgagee letters are available on HUD's official website: (xxxx://xxx.xxx.xxx/offices/adm/hudclips/index.cfm or a successor location to that site)).

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Additional Senior Obligations means all indebtedness of the Company whether incurred on or prior to the date of this Indenture or thereafter incurred, for claims in respect of derivative products such as interest and foreign exchange rate contracts, commodity contracts and similar arrangements; provided, however, that Additional Senior Obligations does not include claims in respect of Senior Debt or Subordinated Debt or obligations which, by their terms, are expressly stated to be not superior in right of payment to the Debentures or to rank pari passu in right of payment with the Debentures. For purposes of this definition, "claim" shall have the meaning assigned thereto in Section 101(4) of the United States Bankruptcy Code of 1978, as amended.

  • Noteholder Claims means all Obligations in respect of the Notes or arising under the Noteholder Documents or any of them, including all fees and expenses of the Trustee thereunder.

  • Junior Priority Obligations means the Initial Junior Priority Obligations and any Additional Obligations constituting Junior Priority Debt.

  • Secured Claims means Claims held by “secured creditors” as defined in the CCAA, including Construction Lien Claims, to the extent of the Allocated Value of the Property securing such Claim, with the balance of the Claim being a Deficiency Claim, and amounts subject to section 6(6) of the CCAA;

  • Priority Claims means, collectively, Priority Tax Claims and Other Priority Claims.

  • AWR Claim means any complaint or claim to a tribunal or court made by or on behalf of the Agency Worker against the Hirer and/or the Employment Business for any breach of the AWR;

  • Initial Additional First Lien Obligations means the [Obligations] as such term is defined in the Initial Additional First-Lien Security Agreement.

  • Discharge of Senior Obligations means the date on which the Discharge of Credit Agreement Obligations and the Discharge of each Additional Senior Debt Facility has occurred.

  • Existing Senior Subordinated Notes means the 10.875% Senior Subordinated Notes Due 2009 issued by the Company pursuant to the Existing Senior Subordinated Note Indenture.

  • Parity Obligations means (i) all obligations of the Issuer in respect of Tier 1 Instruments (excluding any such obligations that rank, or are expressed to rank, junior to claims in respect of the Notes), and (ii) any other securities or obligations (including, without limitation, any guarantee, credit support agreement or similar undertaking) of the Issuer that rank, or are expressed to rank, pari passu with claims in respect of the Notes and/or any Parity Obligation.

  • Senior Obligations is defined in Section 5.1 of this Agreement.

  • Discharge of Senior Lender Claims means, except to the extent otherwise provided in Section 5.7 below, payment in full in cash (except for contingent indemnities and cost and reimbursement obligations to the extent no claim has been made) of (a) all Obligations in respect of all outstanding Senior Lender Claims and, with respect to letters of credit or letter of credit guaranties outstanding thereunder, delivery of cash collateral or backstop letters of credit in respect thereof in compliance with the Credit Agreement, in each case after or concurrently with the termination of all commitments to extend credit thereunder and (b) any other Senior Lender Claims that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid; provided that the Discharge of Senior Lender Claims shall not be deemed to have occurred if such payments are made with the proceeds of other Senior Lender Claims that constitute an exchange or replacement for or a refinancing of such Obligations or Senior Lender Claims. In the event the Senior Lender Claims are modified and the Obligations are paid over time or otherwise modified pursuant to Section 1129 of the Bankruptcy Code, the Senior Lender Claims shall be deemed to be discharged when the final payment is made, in cash, in respect of such indebtedness and any obligations pursuant to such new indebtedness shall have been satisfied.

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • Senior Higher Priority Liabilities means any obligations in respect of principal of the Issuer under any Notes and any other unsecured and unsubordinated obligations (créditos ordinarios) of the Issuer, other than the Senior Non Preferred Liabilities; and

  • DIP Claims means, collectively, the DIP ABL Claims and the DIP Term Loan Claims.

  • Junior Obligations means (i) all classes of share capital and participation securities (if any) of the Issuer and (ii) all other obligations of the Issuer that rank, or are expressed to rank, junior to claims in respect of the Notes and/or any Parity Obligation.

  • Senior Liabilities means all present and future moneys, debts and liabilities due, owing or incurred by the Obligors to any Finance Party under or in connection with any Finance Document (in each case, whether alone or jointly, or jointly and severally, with any other person, whether actually or contingently and whether as principal, surety or otherwise).

  • Existing Obligations means the “Obligations” as defined in the Existing Credit Agreement.