Junior Claim definition

Junior Claim means (a) with respect to Expenses, all other Obligations and (b) with respect to any other Obligations, all Obligations, in each case, as to which the payment of such other Obligations constitute a Prior Ranking Amount.

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Junior Claim means, in relation to an Eligible Bank, any claim or right which that Eligible Bank has or may have against any of its group companies in respect of (whether directly or indirectly) any Guaranteed Debt Instrument issued by the Eligible Bank.

Junior Claim means (a) a claim against the Issuer or any Guarantor that would be subordinated to the Issuer’s obligations under this Indenture and the Notes, or such Guarantor’s obligations under its Note Guarantee, under 11 U.S.C. Sec. 510 (or any successor statute) in a hypothetical Chapter 11 case where the Issuer or such Guarantor were a debtor, or (b) any claim against TerraForm (other than related to tax claims); provided, however, that a claim shall not be a Junior Claim hereunder to the extent that the Parent, the Issuer or a Restricted Subsidiary is directly or indirectly liable for such claim and the claim against the Parent, the Issuer or such Restricted Subsidiary is not a claim of the type set forth in clause (a) hereof. For purpose of this definition, “claim” has the meaning set forth in 11 U.S.C. Sec. 101(5).

Examples of Junior Claim in a sentence

If an Event of Default shall exist, then no Guarantor shall accept any direct or indirect payment (in cash, property or securities, by setoff or otherwise) from the Borrower on account of or in any manner in respect of any Junior Claim until all of the Guarantied Obligations have been indefeasibly paid in full.
If an Event of Default shall have occurred and be continuing, then no Guarantor shall accept any direct or indirect payment (in cash, property, securities by setoff or otherwise) from the Borrower or any other Guarantor on account of or in any manner in respect of any Junior Claim until all of the Obligations have been indefeasibly paid in full.
If an Event of Default shall exist, no Guarantor shall accept any direct or indirect payment (in cash, property or securities, by setoff or otherwise) from or any other Loan Party on account of or in any manner in respect of any Junior Claim until all of the Guarantied Obligations have been indefeasibly paid in full.
During the continuance of an Event of Default, no Guarantor shall accept any direct or indirect payment (in cash, property or securities, by setoff or otherwise) from any Loan Party on account of or in any manner in respect of any Junior Claim until all of the Guarantied Obligations have been indefeasibly paid in full.
If an Event of Default shall have occurred and be continuing, then no Guarantor shall accept any direct or indirect payment (in cash, property, securities by setoff or otherwise) from the Borrower or any other Guarantor on account of or in any manner in respect of any Junior Claim until all of the Obligations have been indefeasibly paid in full, except as expressly provided for in the Credit Agreement, including but not limited to payments as contemplated in Section 6.05 of the Credit Agreement.
If an Event of Default shall exist, then Guarantor shall not accept any direct or indirect payment (in cash, property or securities, by setoff or otherwise) from the Borrower on account of or in any manner in respect of any Junior Claim until all of the Guarantied Obligations have been indefeasibly paid in full.
If an Event of Default shall have occurred and be continuing, then no Guarantor shall accept any direct or indirect payment (in cash, property, securities by setoff or otherwise) from the Borrower on account of or in any manner in respect of any Junior Claim until all of the Guarantied Obligations have been indefeasibly paid in full.
If an Event of Default shall exist, no Guarantor shall accept any direct or indirect payment (in cash, property or securities, by setoff or otherwise) from or any other Loan Party on account of or in any manner in respect of any Junior Claim until a Discharge of the Guarantied Obligations.
If an Event of Default shall have occurred and be continuing, then the Guarantor shall not accept any direct or indirect payment (in cash, property, securities by setoff or otherwise) from the Borrower on account of or in any manner in respect of any Junior Claim until all of the Obligations have been indefeasibly paid in full.
If an Event of Default shall have occurred and be continuing, then no Guarantor shall accept any direct or indirect payment (in cash, property or securities, by setoff or otherwise) from the Borrower on account of or in any manner in respect of any Junior Claim until all of the Guarantied Obligations have been indefeasibly paid in full.

More Definitions of Junior Claim

Junior Claim means, in relation to an Eligible Bank, any claim or right which

Junior Claim means (a) with respect to WEST Expenses, all other amounts payable in accordance with Section 3.14 and (b) with respect to any other amount payable in accordance with Section 3.14, all amounts other than Prior Ranking Amounts in respect of such amount. *** Confidential information omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission.