Junior Secured Debt definition

Junior Secured Debt means Indebtedness permitted to be secured by a Lien on Collateral under Section 6.06 or any Flyer Miles Obligations.

Junior Secured Debt means any Obligations of the Issuer or a Note Guarantor that are:

Junior Secured Debt means Indebtedness of the Borrower or any Guarantor that is secured by a Lien on all or any portion of the Collateral (but not any assets that do not constitute Collateral) that is junior to the Lien in favor of the Collateral Agent on the Collateral.

Examples of Junior Secured Debt in a sentence

• The Pledgor hereby transfers, pledges and assigns to the Collateral Agent, and grants to the Collateral Agent for the ratable benefit of the New Junior Secured Debt Holders, if any, a second priority security interest in the Collateral.

• Purchaser shall assume the leases for the office space currently used by Sellers in connection with the operation of the Business and that are listed on Schedule 3.4 hereto.

• The security interest created hereby for the benefit of the Additional Debt Holders shall be released, in whole, as provided for in the relevant New Senior Secured Debt Document or New Junior Secured Debt Document, as the case may be.

• LHFI shall pay 12% cash interest on the outstanding balance of the Junior Secured Debt Facility, payable semi- annually in arrears, with an additional 4% PIK interest, 2% of which shall be forgiven if the Junior Secured Debt Facility is refinanced within two years.

• No Grantor shall consent to any third party’s registering an interest on the International Registry against the Collateral (other than with respect to any Liens granted to secure any Pari Passu Senior Secured Debt or any Junior Secured Debt) or granting an Irrevocable De-Registration and Export Request Authorization in connection with the Collateral (other than in favor of such Grantor or the Administrative Agent).

More Definitions of Junior Secured Debt

Junior Secured Debt means any secured Indebtedness incurred in the form of one or more series of secured notes or secured loans that are secured by Liens on the Collateral ranking junior to the Liens securing the Obligations in accordance with the ABL Intercreditor Agreement. Junior Secured Debt will include any Registered Equivalent Notes issued in exchange therefor.

Junior Secured Debt means Indebtedness referred to in clause (2) of the definition of “Permitted Liens” that is secured by a Lien on Collateral under Section 6.06 (including, without limitation, the Co-Branded Secured Obligations).

Junior Secured Debt means (i) Indebtedness secured by a Lien on Collateral under Section 6.01(b) and (ii) any Refinancing Debt secured by a Lien on the Collateral that is junior to the Liens securing the Obligations and the other Pari Passu Senior Secured Debt pursuant to the Collateral Trust Agreement, so long as (1) such Refinancing Debt is permitted to be incurred and so secured under all applicable Secured Debt Documents and (2) such Refinancing Debt constitutes “Junior Lien Debt” as defined under, and in accordance with the terms of, the Collateral Trust Agreement; provided that, after giving effect to the incurrence of any such Indebtedness described in clause (i) or (ii), the Borrower shall be in compliance with Section 6.03.

Junior Secured Debt means Indebtedness referred to in clause (vii) of the definition of “Permitted Debt”.

Junior Secured Debt means Indebtedness incurred and outstanding in reliance on Section 8.1(k) [Indebtedness].

Junior Secured Debt means (a) Indebtedness of the Borrower and the Guarantors secured by a Lien on the Collateral that is junior to the Liens securing the Obligations, provided that (i) after giving pro forma effect to the incurrence of such Indebtedness and the application of the net proceeds therefrom, the Total Collateral Coverage Ratio shall be no less than 1.00:1.00 at the time of such incurrence, (ii) such Indebtedness shall not mature prior to the Latest Maturity Date, (iii) such Indebtedness shall not have a shorter Weighted Average Life to Maturity than the Term Loans (or any other term loans incurred under this Agreement) (iv) the other terms and conditions of such Indebtedness (excluding maturity and amortization) shall be customary market terms for Indebtedness of such type and (v) there shall be no direct or contingent obligors with respect to such Indebtedness other than the Loan Parties and (b) any refinancing, refunding, renewal or extension of any such Indebtedness or of any Indebtedness previously incurred under this clause (b), provided that (1) the principal amount of any such Indebtedness shall not be increased above the principal amount thereof outstanding immediately prior to such refinancing, refunding, renewal or extension, (2) the direct and contingent obligors with respect to such Indebtedness are not changed, (3) such Indebtedness shall have a Weighted Average Life to Maturity that is greater than or equal to that of the Indebtedness being so refinanced, refunded, renewed or extended, (4) the terms and conditions of such Indebtedness shall not be materially less favorable to the obligors thereon or to Lenders than the Indebtedness being so refinanced, refunded, renewed or extended (provided that, notwithstanding the foregoing in this subclause (4), (x) the interest rate or other pricing terms of such Indebtedness may be increased, (y) if such Indebtedness is incurred pursuant to a bank credit facility or similar agreement, such Indebtedness may contain any covenant or event of default that is no more restrictive on (or less favorable to) the Borrower and the Guarantors than the comparable covenant or event of default included in this Agreement, and (z) if such Indebtedness is incurred in the bond market, such Indebtedness may contain terms and conditions that are customary (in the good faith judgment of the Borrower) for financings of such type at the time of incurrence); provided that in each case of clause (a) and (b) above, such Indebtedness is ...

Junior Secured Debt means “Second Lien Obligations,” as such term is defined in the Intercreditor Agreement, in respect of the “Initial Second Lien Loan Agreement,” as such term is defined in the Intercreditor Agreement.