Junior Security Agreement definition
Examples of Junior Security Agreement in a sentence
Such Successor Borrower shall assume the obligations under the Note or the Defeased Note, as applicable, and the Security Agreement and, if applicable, the Junior Security Agreement and Borrower shall be relieved of its obligations under such documents.
Borrower shall pay $1,000 to any such Successor Borrower as consideration for assuming the obligations under the Note or the Defeased Note, as applicable, and the Security Agreement and, if applicable, the Junior Security Agreement.
Buyer shall have executed and delivered the (i) the Senior Notes; (ii) Senior Security Agreement; (iii) the Junior Note; (iv) the Junior Security Agreement and (v) the Pledge Agreement.
Without the prior written consent of the Administrative Agent and those Senior Lenders holding a majority of the Senior Loan Claims, no Junior Lender shall hold any Lien on any assets of the Borrower, Holdings or any of its Subsidiaries, other than the Lien granted to pursuant to the Junior Security Agreement as in effect on the date hereof in the Common Collateral.
JUNIOR SECURITY AGREEMENT This Junior Security Agreement (the "Agreement") dated as of January 31, 1997 by and between RICH▇▇▇ ▇▇▇DMAN 1/2 PRICE STORES, INC., a Delaware corporation (successor by merger to Rich▇▇▇ ▇▇▇d▇▇▇ ▇▇▇res, Inc.