Junior Secured Creditors definition

Junior Secured Creditors means (a) the Capital Noteholders and (b) each other holder of Junior Secured Obligations;
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Junior Secured Creditors means the Second Secured Creditors, the Third Secured Creditors and the Fourth Secured Creditors until the First Secured Obligations are Paid in Full, and thereafter means the Third Secured Creditors and the Fourth Secured Creditors until the Second Secured Obligations are Paid in Full, and thereafter means the Fourth Secured Creditors.
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Junior Secured Creditors means any entities possessing a Secured Claim against the Debtors that is junior in priority to the Secured Claims of Laurus.
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Examples of Junior Secured Creditors in a sentence

  • The Junior Secured Creditors further agree that none of them shall be entitled to benefit from any avoidance action affecting or otherwise relating to any distribution or allocation made in accordance with this Agreement, whether by preference or otherwise, it being understood and agreed that the benefit of such avoidance action otherwise allocable to them shall instead be allocated and turned over for application in accordance with the priorities set forth in this Agreement.

  • In any Insolvency Proceeding, the Junior Secured Creditors agree that they will not object to or oppose a Disposition of any Collateral that, as to such Junior Secured Creditor, is Non-Priority Collateral, free and clear of Liens or other claims under Section 363 of the Bankruptcy Code or any other provision of the Bankruptcy Code, if the Priority Secured Creditors with respect to such Collateral have consented to such Disposition.

  • All allocations of payments made with respect to Collateral between the Priority Secured Creditors and the Junior Secured Creditors shall, subject to any court order, continue to be made after the filing of any Insolvency Proceeding on the same basis that such payments were to be allocated prior to the date of such filing.

  • The rights of the Junior Secured Creditors shall at all times be subject to the terms of this Agreement.

  • This Class consists of separate subclasses for any Allowed Secured Claim against Debtor, other than the Class 2 Secured Claim and other than the Class 4 Junior Secured Creditors.

  • Any sale, assignment, transfer, negotiation or participation of the Third Secured Obligations shall be subject to this Agreement and any such purchaser, assignee, transferee, participant or other recipient shall automatically be subject to the terms of this Agreement (without releasing the Junior Secured Creditors) and shall execute such agreements and documents in form and substance satisfactory to the First Lien Agent assuming such obligations.

  • Notwithstanding anything herein to the contrary, the Junior Secured Creditors are not waiving any claims they may have if the Priority Secured Creditors do not exercise their rights and remedies under the Priority Secured Loan Documents in good faith and in a commercially reasonable manner.

  • This Agreement shall bind the Secured Creditors and their respective successors and assigns, and shall inure to the benefit of their respective successors and assigns, subject to the restrictions on transfers by the Junior Secured Creditors contained in this Section 10.

  • The existence of these Intercreditor Terms shall not commit or obligate the Senior Secured Creditors or the Junior Secured Creditors to make loans or extend credit to the Borrower.

  • In the event of the occurrence of any casualty with respect to any of the Collateral, the Junior Secured Creditors agrees that the Senior Agent, on behalf of the Senior Secured Creditors, shall have the sole and exclusive right to adjust, compromise or settle any such loss with the insurer thereof, and to collect and receive the proceeds from such insurer.


More Definitions of Junior Secured Creditors

Junior Secured Creditors means Stratford Capital Partners, L.P., Retail & Restaurant Growth Capital L.P., Provender Opportunities Fund L.P., Cornerstone Equity Investors IV, L.P., James P. Argyropoulos, Giles Bateman, Xxxxx Xxxxxx, Xxenx xxx Xxxxxxn Merrill Trust, The Perlman Faxxxx Xxxxx xxx 2/27/95, Montesano Family Trust dated March 17, 0000, Xandice E. Appletox Xxxxxx Xxxxx, Xxxxxx Xxxxxx 0000 Xxxst UAD 5/2/99, Robert Taicher, Herbert Simon, Harry Xxxxx, Xxxx Xxxxx xxx Xan Xxxxxxxxx.
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Junior Secured Creditors means the holders of the Junior Debt;
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Junior Secured Creditors means Stratford Capital Partners, L.P., Retail & Restaurant Growth Capital L.P., Provender Opportunities Fund L.P., Cornerstone Equity Investors IV, L.P., James P. Argyropoulos, Giles Batemxx, Xxxxx Xxxxxx, Xxxnt xxx Xxxxxxx Mexxxxx Xxxxx, Txx Xxrlman Xxxxxx Xxxxx xtd 2/27/95, Xxxxxxxno Family Trust dated March 00, 0000, Candice E. Appleton Family Trust, Xxxxxx Xxxxxx 0000 Trust UAD 5/2/90, Xxxert Taicher, Herbert Simon, Harxx Xxxxx, Xxxx Mxxxx xxx Xxx Zuxxxxxxx.
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Related to Junior Secured Creditors

  • Senior Secured Parties means the Credit Agreement Secured Parties and any Additional Senior Debt Parties.

  • Senior Secured Credit Agreement means that certain Credit Agreement, dated as of September 27, 2018, among the Borrowers, the lenders from time to time party thereto, JPMCB as administrative agent, JPMCB as collateral agent, and the other parties thereto, as amended, restated, amended, restated, extended, supplemented, refinanced or otherwise modified from time to time.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Senior Secured Obligations means (a) with respect to the Revolving Facility Obligations (to the extent such Obligations are secured by the Noteholder First Lien Collateral), the Noteholder Obligations, and (b) with respect to Noteholder Obligations (to the extent such Obligations are secured by the Revolving Facility First Lien Collateral), the Revolving Facility Obligations.

  • Senior Secured Credit Facilities means the amended and restated senior secured credit facilities dated November 30, 2016 among Studio City Company Limited, the guarantors named therein, the financial institutions named as lenders therein and the agent for such lenders, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, as such facilities may be amended, restated, modified, renewed, supplemented, replaced or refinanced from time to time.

  • Senior Secured Loan Any assignment of or Participation Interest in a Loan that: (a) is not (and cannot by its terms become) subordinate in right of payment to any other obligation of the obligor of the Loan (other than with respect to trade claims, capitalized leases or similar obligations); (b) is secured by a valid first-priority perfected security interest or lien in, to or on specified collateral securing the obligor’s obligations under the Loan (subject to customary exceptions for permitted liens, including, without limitation, tax liens); (c) the value of the collateral securing the Loan at the time of purchase together with other attributes of the obligor (including, without limitation, its general financial condition, ability to generate cash flow available for debt service and other demands for that cash flow) is adequate (in the commercially reasonable judgment of the Collateral Manager) to repay the Loan in accordance with its terms and to repay all other Loans of equal seniority secured by a first lien or security interest in the same collateral; and (d) is not secured solely or primarily by common stock or other equity interests; provided that if such Loan is made to a parent entity that is secured solely or primarily by the stock of one or more of the subsidiaries of such parent entity to the extent that the granting by any such subsidiary of a lien on its own property would violate law or regulations applicable to such subsidiary (whether the obligation secured is such Loan or any other similar type of indebtedness owing to third parties), then the limitation set forth in this clause (d) shall not apply with respect to such Loan.

  • Secured Creditors shall have the meaning assigned that term in the respective Security Documents.

  • Senior Secured Debt means, at any time, Consolidated Total Funded Debt that constitutes Senior Indebtedness secured by a Lien on any Collateral.

  • Junior Security of a Person means, when used with respect to the Securities of any series, any Qualified Capital Stock of such Person or any Indebtedness of such Person that is subordinated in right of payment to the Securities of such series and has no scheduled installment of principal due, by redemption, sinking fund payment or otherwise, on or prior to the Stated Maturity of the Securities of such series.

  • Senior Security Documents means with respect to any Senior Secured Party, the Security Documents that secure the Senior Obligations.

  • Required Secured Creditors means (i) at any time when any Credit Document Obligations are outstanding or any Commitments under the Credit Agreement exist, the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of the Lenders) and (ii) at any time after all of the Credit Document Obligations have been paid in full and all Commitments under the Credit Agreement have been terminated and no further Commitments may be provided thereunder, the holders of a majority of the Other Obligations.

  • Junior Creditor means any Defaulting Bank which has not (x) fully cured each and every default on its part under the Loan Documents and (y) unconditionally tendered to the Administrative Agent such Defaulting Bank’s Pro Rata Share of all costs, expenses and disbursements required to be paid or reimbursed pursuant to the terms of the Loan Documents.

  • Senior Secured Indebtedness means, with respect to any Person as of any date of determination, any Specified Indebtedness; provided that such Indebtedness is in each case secured by a Lien on the assets of the Issuer or its Restricted Subsidiaries on a basis pari passu with or senior to the security in favor of the Notes.

  • Senior Secured Notes Trustee means U.S. Bank Trust Company, National Association, as successor in interest to U.S. Bank National Association, as trustee under the Senior Secured Notes Indenture.

  • Permitted Junior Secured Refinancing Debt means any secured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of second-lien (or other junior lien) secured notes or second-lien (or other junior lien) secured loans; provided that (i) such Indebtedness (x) is secured by the Collateral on a second-priority (or other junior priority) basis with the Obligations and (y) is not secured by any property or assets of the Borrower or any Subsidiary other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness, (iii) such Indebtedness does not mature, have a shorter Weighted Average Life to Maturity than, or have scheduled amortization or scheduled payments of principal and is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligation (other than customary offers to repurchase upon a change of control, asset sale or casualty event and customary acceleration rights after an event of default), prior to the date that is 91 days after the Latest Maturity Date at the time such Indebtedness is incurred, (iv) such Indebtedness is not guaranteed by any Subsidiaries other than the Subsidiary Guarantors, (v) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to or otherwise be subject to the provisions of one or more intercreditor agreements reasonably satisfactory to the Administrative Agent and (vi) any mandatory or voluntary prepayments of Permitted Junior Secured Refinancing Debt may not be made except to the extent that prepayments of the Term Loans and Permitted Pari Passu Secured Refinancing Debt are first made ratably, to the extent required hereunder or pursuant to the terms of such Permitted Pari Passu Secured Refinancing Debt, as the case may be. Permitted Junior Secured Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

  • Senior Secured Notes means the $1,875 million aggregate principal amount of 7.375% Senior Secured Notes due 2023 of the Borrower including, as the same may be amended, supplemented, waived or otherwise modified from time to time, including any senior secured exchange notes issued in lieu thereof.

  • Other Pari Passu Lien Obligations means any Indebtedness or other Obligations (including Hedging Obligations) having Pari Passu Lien Priority relative to the Notes with respect to the Collateral; provided that an authorized representative of the holders of such Indebtedness shall have executed a joinder to the ABL-Notes Intercreditor Agreement and a joinder to the Pari Passu Intercreditor Agreement or the Pari Passu Intercreditor Agreement.

  • Unsecured Creditors means all Creditors with Concurrent Claims against the Company;

  • Senior Secured Note Documents means the Senior Secured Note Indenture, the Senior Secured Note Guarantees, the Senior Secured Notes, the Intercreditor Arrangements, any security document relating to the Senior Secured Notes and/or the Senior Secured Note Indenture and any other document that may be entered into pursuant to any of the foregoing.

  • Junior Securities means the Common Stock and all other Common Stock Equivalents of the Corporation other than those securities which are explicitly senior or pari passu to the Preferred Stock in dividend rights or liquidation preference.

  • Pari Passu Lien Obligations means any Financial Indebtedness that has equal or substantially equal Security Interest priority to the Facilities on the Security (taking into account any intercreditor arrangements).

  • Junior Debt Documents means any agreement, indenture or instrument pursuant to which any Junior Debt is issued, in each case as amended to the extent permitted under the Loan Documents.

  • Junior Lien Indebtedness means any Indebtedness of any Credit Party that is secured by Liens on Collateral that rank junior in priority to the Liens that secure the Obligations.

  • Junior Debt means any Indebtedness in respect of Subordinated Indebtedness.

  • Second Lien Obligations means the “Obligations” as defined in the Second Lien Credit Agreement.

  • Senior Security or “Senior Securities” means any Security or Securities designated pursuant to Section 301 as a Senior Security.