Examples of Junior Creditors in a sentence
It is clear, however, that it involves activation of β-adrenergic receptors (5-7), leading to elevated intracellular cAMP ([cAMP]i), and culminates in elevation of the cytoplasmic free Ca2+ concentration ([Ca2+]i) with resultant Ca2+-dependent stimulation of glucagon secretion (6;8;9).
Subject to the indefeasible payment in full in cash of all Senior Debt, the Junior Creditors shall be subrogated to the rights of the Trustee and the Holders to receive payments and distributions of cash, property and securities applicable to the Senior Debt to the extent that distributions otherwise payable to the Junior Creditors have been applied to the Senior Debt, until all amounts payable under the Junior Obligations shall have been paid in full.
The Trustee and the Obligors shall provide the Junior Creditors and any Junior Trustee with a Senior Default Notice promptly upon the occurrence of each Senior Default, which notice shall specify the date of first occurrence thereof and the nature of such Senior Default (including whether it constitutes a Senior Non-Payment Default or a Senior Payment Default), and the Trustee shall notify the Junior Creditors and any Junior Trustee promptly in the event such Senior Default is cured or waived.
The provisions of this Agreement are solely for the purpose of defining the relative rights of the Junior Creditors and the Trustee and the Holders and shall not be deemed to create any rights or priorities in favor of any other Person, including any Obligor.
The Senior Agent shall be irrevocably authorized to file any required proof of claim if the Junior Creditors fail to do so in a timely manner.