Discharge of the Senior Obligations definition

Discharge of the Senior Obligations means that the Senior Obligations have been indefeasibly paid in full in cash and all commitments of the Senior Parties under the Loan Documents have been terminated (other than any inchoate obligations for which no claim has been asserted).
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Discharge of the Senior Obligations has the meaning specified therefor in the Intercreditor Agreement.
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Discharge of the Senior Obligations has the meaning specified in Section 11.23(a).
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Examples of Discharge of the Senior Obligations in a sentence

  • The agreements and obligations of each party hereto under Sections 18 and 19 hereof shall survive the termination of this Agreement and Discharge of the Senior Obligations.

  • All powers, authorizations and agencies contained in this Agreement are coupled with an interest and are irrevocable until Discharge of the Senior Obligations.


More Definitions of Discharge of the Senior Obligations

Discharge of the Senior Obligations means, except to the extent otherwise expressly provided in Section 8,
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Discharge of the Senior Obligations means the occurrence of both of the following: (a) the Discharge of the DIP Facilities Obligations and (b) the Discharge of the Prepetition First Lien Obligations (as such terms are defined in the Intercreditor Annex).
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Discharge of the Senior Obligations means, except to the extent otherwise provided in Section 4.3, with respect to the Senior Obligations confirmation by the Senior Administrative Agent (a) payment in full in cash of the principal of and interest (including interest accruing on or after the commencement of any Insolvency or Liquidation Proceeding at the rate set forth in the Senior Credit Agreement, whether or not such interest would be allowed or allowable in such Insolvency or Liquidation Proceeding) and premium, if any, on all Indebtedness outstanding under the Senior Loan Documents; (b) payment in full in cash of all other Senior Obligations (including monetary obligations incurred during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether such monetary obligations would be allowed or allowable in such proceeding) other than Unasserted Contingent Obligations; (c) termination or cash collateralization of all Senior Obligations under interest rate agreements entered into by the Borrowers with any Senior Lender (or any of its affiliates) in connection with the Senior Credit Agreement (in an amount satisfactory to the Senior Administrative Agent); and (d) termination of all other commitments of the Senior Lenders under the Senior Loan Documents.
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Discharge of the Senior Obligations means (a) indefeasible payment and performance in full of the Senior Obligations (other than the Remaining Obligations (as defined in the Senior Loan Agreement), (b) termination or expiration of all commitments of the Senior Lender or Senior Agent to extend credit under the Senior Loan Documents, (c) termination, cancellation or cash collateralization (in an amount and pursuant to arrangements reasonably satisfactory to the Senior Agent) of all letters of credit issued under the Senior Loan Documents, (c) termination or cash collateralization (in an amount reasonably satisfactory to the Senior Agent) of any Interest Rate Hedge (as defined in the Senior Loan Agreement) and the indefeasible payment in full of all obligations in respect thereof.
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Discharge of the Senior Obligations means (a) payment in full in cash of the principal of and interest (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such Insolvency or Liquidation Proceeding) and premium, if any, on the Senior Obligations, (b) payment in full of all other Senior Obligations that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid (including any contingent indemnification obligations to the extent asserted), and (c) termination or expiration of all commitments to lend or make available any credit under the Senior Debt Agreements.
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Discharge of the Senior Obligations means the “Discharge of the Senior Obligations” as defined in the Intercreditor Agreement.
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Related to Discharge of the Senior Obligations

  • 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.

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

  • Junior Obligations means the Junior Obligations of the Guarantor and the Junior Obligations of the Issuer;

  • First Priority Obligations means (a) with respect to the Existing First Priority Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement and (b) with respect to each other First Priority Agreement, all “Obligations” of each Loan Party as defined in such First Priority Agreement, and shall in any event include (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable First Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any First Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any Second Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.