Examples of Junior Priority Indebtedness in a sentence
Security Documents and Intercreditor Agreement The Issuer, the Guarantors and the Collateral Agent will enter into one or more Security Documents defining the terms of the security interests that secure the New Notes and the Guarantees and Junior Priority Indebtedness permitted to be Incurred under the New Notes Indenture, including the Cerberus 3L Notes.
Except as otherwise permitted by the DIP Orders, the Cash Management Order, or pursuant to and upon consummation of the Plan of Reorganization, the Parent and the Borrowers shall not, and shall not permit any of their respective Restricted Subsidiaries to, make any cash payment or prepayment (including any redemption, purchase, retirement, defeasance (including in-substance or legal defeasance), sinking fund or similar payment) on account of principal of any Junior Priority Indebtedness.
The Notes shall be secured by Liens and security interests, subject to Permitted Liens, in the Collateral, which Liens are equal in priority to the Liens securing the other First Lien Priority Indebtedness and senior in priority to the Liens securing the First Lien Junior Priority Indebtedness and Second Priority Lien Obligations, on the terms and conditions set forth in the Indenture, the Collateral Documents and the Intercreditor Agreements.