Discharge of Senior Debt definition

Discharge of Senior Debt means the repayment in full of all Senior Debt, in each case, after or concurrently with the termination or expiration of all commitments, if any, to make loans, advances or otherwise extend credit that would constitute Senior Debt.

Discharge of Senior Debt means payment in full in cash of the Senior Debt (other than (A) Unasserted Contingent Obligations and (B) Obligations owing to Lender Counterparties under any Secured Hedge Agreement that are not then due and payable).

Discharge of Senior Debt means all obligations in respect of the Senior Notes and premium, if any, on such obligations shall have been paid in full (other than contingent indemnification obligations) or converted as provided in Section 3 and Section 4 of the Senior Notes, and all commitments of the Senior Creditor to extend credit under the Senior Notes shall have been terminated.

Examples of Discharge of Senior Debt in a sentence

• Notwithstanding the terms of the Subordinated Debt Documents (or any documents governing any Subordinated DIP Financing), each Company (for itself and its subsidiaries) acknowledges that none of them may make, and Subordinated Agent and each Subordinated Lender hereby agrees that it will not accept, any Distribution (other than Permitted Subordinated Debt Payments) with respect to the Subordinated Debt until the Discharge of Senior Debt.

• This authorization is coupled with an interest and is irrevocable for application (in accordance with the Senior Debt Documents) to the payment of the Senior Debt then remaining unpaid, until the Discharge of Senior Debt.

• All payments on account of the Subordinated Debt shall be subject, subordinate, and junior in right of payment and exercise of remedies, to the extent and in the manner set forth herein, to the Discharge of Senior Debt.

• All covenants, agreements, representations and warranties made in this Agreement shall, except to the extent otherwise provided herein, survive the execution and delivery of this Agreement, and shall continue in full force and effect until the Discharge of Senior Debt has occurred.

• Until the Discharge of Senior Debt, neither the Subordinated Agent nor the Subordinated Secured Parties shall, without the prior written consent of Agent (acting at the written direction of the Required Senior Lenders and Required Revolving Lenders (as defined in the Senior Credit Agreement)), take any Enforcement Action with respect to the Subordinated Debt (including any Collateral therefor) other than Permitted Subordinated Actions.

More Definitions of Discharge of Senior Debt

Discharge of Senior Debt means payment and satisfaction in full in cash of any and all Senior Debt (as defined below) which may be now or hereafter owing to any Secured Party (as defined below) by any Applicable Debtor, including, with respect to amounts available to be drawn under outstanding letters of credit issued under the Credit Agreement or any other Loan Document (or indemnities issued pursuant thereto in respect of outstanding letters of credit), delivery of cash to be held as collateral for such letters of credit or backstop letters of credit in respect thereof in compliance with the terms of the Credit Agreement, in each case, after or concurrently with the termination of the Credit Agreement and the termination of all obligations and commitments to make loans, advances or otherwise extend credit thereunder.

Discharge of Senior Debt has the meaning provided in the Subordination Agreement.

Discharge of Senior Debt means payment and satisfaction in full in cash of any and all Senior Debt (as defined below) which may be now or hereafter owing to the Purchaser or any other holder of the Securities by any Obligor.

Discharge of Senior Debt means the Senior Debt shall have been fully paid in cash (other than inchoate indemnity obligations), all commitments to extend credit under the Senior Loan Documents shall have been terminated (the temporary reduction of outstanding obligations, liabilities and indebtedness of Borrower to Senior Creditor and/or the Senior Lenders not being deemed to constitute full payment or satisfaction thereof) and the Senior Loan Documents shall have been terminated; provided that the Discharge of Senior Debt shall not be deemed to have occurred in connection with any Refinancing of the Senior Debt Obligations up to the Senior Debt Cap.

Discharge of Senior Debt means the payment in full in cash of the Senior Debt (other than contingent indemnification obligations to the extent no claim giving rise thereto has been asserted). If after receipt of any payment of, or Proceeds applied to the payment of, the Senior Debt, any holder of Senior Debt is required to surrender or return such payment or Proceeds to any Person for any reason, then the Senior Debt intended to be satisfied by such payment or Proceeds shall be reinstated and continue and this Agreement shall continue in full force and effect as if such payment or Proceeds had not been received by such holder of Senior Debt, and no Discharge of Senior Debt shall be deemed to have occurred.

Discharge of Senior Debt means the repayment in full of all Senior Debt, in each case, after or concurrently with the termination or expiration of all Commitments, if any, to make loans, advances or otherwise extend credit that would constitute Senior Debt.

Discharge of Senior Debt means, with respect to any Senior Debt, the: (a) final, irrevocable and unconditional payment in full in cash of all principal, interest, fees and other charges payable in connection therewith, whether such interest, fees, premium or other charges accrue or are incurred prior to or during the pendency of an Insolvency Proceeding and whether or not any of the same are allowed or recoverable in any Insolvency Proceeding pursuant to the Insolvency Act, Section 506 of the Bankruptcy Code or similar Insolvency Laws, (b) payment in full in cash of all other Senior Debt that is due and payable or otherwise accrued and owing at or prior to the time such principal, interest and premium, if any, are paid and (c) termination or expiration of any commitments to make advances that would be Senior Debt (excluding for the purposes of paragraphs (a), (b) and (c) the Senior Expenses and the Subordinated Expenses).