Junior Subordinate Obligations definition

Junior Subordinate Obligations means, collectively, the Junior Subordinate Notes and any Other Junior Subordinate Obligations.
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Junior Subordinate Obligations means the TIFIA Bond and any other Secured Obligations of the Borrower issued or incurred in accordance with Section 3.09 of the Indenture and Section 17(a) (Indebtedness) and secured by a lien and charge on Pledged Revenues that is subordinate to the liens and charges on Pledged Revenues that secure the Senior Obligations, the Subordinate Obligations and the obligation to pay Fees and Expenses and Hedging Termination obligations on Existing Interest Rate Swap Agreements.
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Junior Subordinate Obligations has the meaning set forth in the Senior Lien Trust Agreement.
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Examples of Junior Subordinate Obligations in a sentence

  • The Other Obligations are special obligations of the Authority which constitute Fees and Expenses under the Senior Trust Agreement and are payable from Pledged Revenues pursuant to the terms of the Senior Lien Trust Agreement after deposits with respect to the Subordinate Obligations and before deposits with respect to the Junior Subordinate Obligations.

  • The Series 2020-A Bonds are Junior Subordinate Obligations under the Trust Agreement, and are junior and subordinate in all respects to the Senior Obligations, Subordinate Obligations and any payments and deposits required to be made to the Fees and Expenses Fund as to lien on and priority of payment from the Pledged Revenues.

  • For purposes of this Section 3.05, Maximum Annual Debt Service shall be calculated (i) for Senior Obligations and Subordinate Obligations, as provided in the Senior Trust Agreement, and (ii) for Junior Subordinate Bonds and Junior Subordinate Obligations, as provided in this Trust Agreement.

  • All Junior Subordinate Obligations shall be subordinated, to the extent and in the manner provided in this Article XI-A, to the prior payment in full of the Senior Obligations and Subordinate Obligations then due and payable and any deposits then required to be made to the Fees and Expenses Fund or the Existing Hedging Termination Obligations Fund.

  • The rights of the Holders and the Trustee hereunder are subject to the provisions set forth in Sections 5.02(A) and 7.02 and Article XI of the Senior and Junior Subordinate Trust Agreement as in effect on the date hereof, and such provisions are incorporated by reference herein to the extent applicable for so long as there are Senior Obligations and/or Junior Subordinate Obligations outstanding under the Senior and Junior Subordinate Trust Agreement.

  • All Swap Revenues received by the Authority with respect to Interest Rate Swap Agreements that are Junior Subordinate Obligations shall be transferred by the Authority to the Trustee and deposited in the Interest Fund and credited to the above required deposits.

  • All Junior Subordinate Bonds and Junior Subordinate Obligations shall be of equal rank without preference, priority or distinction of any Junior Subordinate Bonds and Junior Subordinate Obligations over any other Junior Subordinate Bonds and Junior Subordinate Obligations.

  • All moneys in the Junior Subordinate Obligations Reserve Fund shall be applied, ratably on a parity basis, to make up any shortfall in the payment of principal or interest with respect to the 2017 TIFIA Bond and any other JuniorSubordinate Obligations when due (or to be released to the Commission in accordance with the terms of the 2017 TIFIA Loan Agreement or other instrument relating to Junior Subordinate Obligations).

  • All moneys at any time held in the Junior Subordinate Revenue Fund shall be held in trust for the benefit of the Holders of the Junior Subordinate Bonds and the holders of Junior Subordinate Obligations and shall be disbursed, allocated and applied solely for the uses and purposes set forth in this Trust Agreement.

  • The Junior Subordinate Bonds issued hereunder shall be secured and payable as Junior Subordinate Bonds pursuant to this Trust Agreement and as Junior Subordinate Obligations pursuant to the Senior Trust Agreement.


More Definitions of Junior Subordinate Obligations

Junior Subordinate Obligations means any obligations of the Corporation authorized and issued in accordance with Section 2.1(e) hereof.
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Junior Subordinate Obligations means the TIFIA Bonds, and any other bonds of the Commission issued in accordance with Sections 3.09 and 3.10 of this Indenture and, for so long as the 2017 TIFIA Bond is outstanding, Section 17(a) of the 2017 TIFIA Loan Agreement, and secured by a lien and charge onthe Trust Estate that is subordinate to the liens and charges securing the Senior Obligations and the Subordinate Obligations.
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Junior Subordinate Obligations means (i) any indebtedness, installment sale obligation, lease obligation or other obligation of the Authority for borrowed money or (ii) any Interest Rate Swap Agreement (excluding fees and expenses on Interest Rate Swap Agreements and Swap Termination Payments, which fees and expenses and Swap Termination Payments shall be secured by a lien and charge on the Junior Subordinate Pledged Revenues subordinate to the lien and charge upon Junior Subordinate Pledged Revenues that secures the Junior Subordinate Bonds) entered into in connection with a Series of Junior Subordinate Bonds, in each case incurred in accordance with Section 3.06(C), and in each case having an equal lien and charge upon the Junior Subordinate Pledged Revenues and therefore being payable on a parity with the Junior Subordinate Bonds (whether or not any Junior Subordinate Bonds are Outstanding).
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Junior Subordinate Obligations means any obligations of the Authority issued or incurred in accordance with Section 3.06(G), and secured, in one or more tiers, by a lien and charge on Pledged Revenues subordinate to the liens and charges on Pledged Revenues that secure the Bonds and Parity Obligations, Subordinate Obligations and obligations to pay Fees and Expenses.
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Related to Junior Subordinate Obligations

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • Junior Subordinated Debt means (a) subordinated junior deferrable interest debentures of the Borrower, (b) the related preferred securities, if applicable, of Subsidiaries of the Borrower and (c) the related subordinated guarantees, if applicable, of the Borrower, in each case, from time to time outstanding.

  • Junior Subordinated Indebtedness means the principal of (and premium, if any) and unpaid interest on (a) indebtedness of the Company (including indebtedness of others guaranteed by the Company), whether outstanding on the date hereof or thereafter created, incurred, assumed or guaranteed, for money borrowed, which in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such indebtedness ranks junior in right of payment to the Company’s Senior Indebtedness and Senior Subordinated Indebtedness and equally and pari passu in right of payment to any other Junior Subordinated Indebtedness, (b) Junior Subordinated Securities, and (c) renewals, extensions, modifications and refinancings of any such indebtedness.

  • Senior Subordinated Debt means the Securities and any other Indebtedness of the Company that specifically provides that it is to rank pari passu with other Senior Subordinated Debt of the Company and is not subordinated to any Indebtedness of the Company that is not Senior Debt.

  • Senior Subordinated Indebtedness means the Securities and any other Indebtedness of the Company that specifically provides that such Indebtedness is to rank pari passu with the Securities in right of payment and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of the Company which is not Senior Indebtedness.

  • Guarantor Subordinated Obligations means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Junior Subordinated Notes means the $__________ aggregate principal amount of the Depositor's Series __ ____% Junior Subordinated Notes due ____ __, ____, issued pursuant to the Subordinated Indenture.

  • Junior Subordinated Payment has the meaning specified in Section 13.2.

  • Guarantor Subordinated Obligation means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinate in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Junior Obligations means the Junior Obligations of the Guarantor and the Junior Obligations of the Issuer;

  • Junior Subordinated Debentures means the aggregate principal amount of the Depositor's ____% Junior Subordinated Deferrable Interest Debentures, due ________ __, 2027, issued pursuant to the Indenture.

  • Senior Subordinated Notes means the Company's 10 1/2% Senior Subordinated Notes due 2009 issued pursuant to the Senior Subordinated Notes Indenture.

  • Junior Obligation means the Shares, and any other class of the Issuer’s share capital and any instrument or other obligation (including without limitation any preference shares) issued or guaranteed by the Issuer that ranks or is expressed to rank junior to the Capital Securities by operation of law or contract.

  • Junior Subordinate Certificates The Class B-4, Class B-5 and Class B-6 Certificates.

  • Senior Subordinated Note Documents means the Senior Subordinated Notes, the Senior Subordinated Note Agreement, the Senior Subordinated Note Guarantees and all other documents executed and delivered with respect to the Senior Subordinated Notes or the Senior Subordinated Note Agreement.

  • Senior Subordinated Indenture means the Indenture dated as of October 15, 1997 between the Company and State Street Bank and Trust Company, as trustee, as from time to time amended, restated, supplemented or otherwise modified.

  • Senior Obligations is defined in Section 5.1 of this Agreement.

  • Permitted Subordinated Indebtedness means Indebtedness incurred after the Closing Date by the Borrower or the Subsidiaries that is (i) subordinated to the Obligations and all other Indebtedness owing from the Borrower or the Subsidiaries to the Lender pursuant to a written subordination agreement satisfactory to the Lender in its sole discretion and (ii) in an amount and on terms approved by the Lender in its sole discretion.

  • Senior Subordinate Certificates The Class B1, Class B2 and Class B3 Certificates.

  • Existing Senior Subordinated Notes means the 10.875% Senior Subordinated Notes Due 2009 issued by the Company pursuant to the Existing Senior Subordinated Note Indenture.

  • Note Obligations means the Notes, the Guarantees and all other obligations of any obligor under this Indenture, the Notes, the Guarantees and the Security Documents.

  • Subordinated Obligations has the meaning specified in Section 7.05.

  • Eligible Subordinated Debt means, at any time in respect of any issuer, each series of the issuer’s then-outstanding long-term indebtedness for money borrowed that (a) upon a bankruptcy, liquidation, dissolution or winding up of the issuer, ranks subordinate to the issuer’s then outstanding series of indebtedness for money borrowed that ranks most senior, (b) is then assigned a rating by at least one NRSRO (provided that this clause (b) shall apply on a Redesignation Date only if on such date the issuer has outstanding subordinated long-term indebtedness for money borrowed that satisfies the requirements in clauses (a), (c) and (d) that is then assigned a rating by at least one NRSRO), (c) has an outstanding principal amount of not less than $100,000,000, and (d) was issued through or with the assistance of a commercial or investment banking firm or firms acting as underwriters, initial purchasers or placement or distribution agents. For purposes of this definition as applied to securities with a CUSIP number, each issuance of long-term indebtedness for money borrowed that has (or, if such indebtedness is held by a trust or other intermediate entity established directly or indirectly by the issuer, the securities of such intermediate entity that have) a separate CUSIP number shall be deemed to be a series of the issuer’s long-term indebtedness for money borrowed that is separate from each other series of such indebtedness.

  • Senior Subordinated Note Indenture means the Indenture dated as of May 12, 2009, between the Company and U.S. Bank National Association, as trustee, in respect of the 2020 Senior Subordinated Notes and the 2023 Senior Subordinated Notes, as supplemented and amended from time to time.

  • Junior Lien Obligations means Junior Lien Debt and all other Obligations in respect thereof.

  • Permitted Subordinated Debt means Indebtedness incurred by Credit Parties; provided that (i) such Indebtedness shall be subordinated in right of payment to the payment in full of the Obligations, (ii) such Indebtedness shall be either (x) unsecured or (y) secured by the Collateral on a junior basis (including with respect to the control of remedies) with the Obligations, (iii) if such Indebtedness is secured, the holders of such Indebtedness (or their senior representative or agent) and the Collateral Trustee shall be party to a subordination agreement reasonably satisfactory to the Requisite Holders, (iv) such Indebtedness shall not be at any time guaranteed by any Subsidiaries other than Subsidiaries that are Guarantors and the terms of such guarantee shall be no more favorable to the secured parties in respect of such Indebtedness than the terms of the Guarantee, (v) such Indebtedness shall have covenants, default and remedy provisions and other terms and conditions (other than interest, fees, premiums, funding discounts or optional prepayment or redemption provisions) that are substantially identical to, or less favorable to the investors providing such Indebtedness than, those set forth in this Indenture, (vi) the maturity date of such Indebtedness shall be no earlier than the date that is ninety one (91) days after the Stated Maturity Date, and (vii) there shall be no scheduled amortization of such Indebtedness, and such Indebtedness shall not be subject to mandatory redemption, repurchase, prepayment or sinking fund obligation (except customary asset sale or change-of-control provisions that provide for the prior repayment in full of the Notes and all other Obligations), in each case prior to the date that is ninety one (91) days after the Stated Maturity Date.