Junior Subordinated Obligations definition

Junior Subordinated Obligations means claims of creditors of the Issuer which are subordinated so as to rank or are expressed to rank pari passu with the claims of the holders of Junior Subordinated Notes and the Receipts and Coupons relating to them;
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Junior Subordinated Obligations means the principal of, and premium, if any, payable on redemption or prepayment of, and interest on, all indebtedness and all other obligations now existing or hereafter incurred or owing under, the Junior Subordinated Credit Documents, including without limitation, all fees, expenses, claims, charges and indemnity obligations.
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Junior Subordinated Obligations means all Obligations relating to Junior Subordinated Loans.
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Examples of Junior Subordinated Obligations in a sentence

  • For purposes of this Article Three, except as otherwise expressly provided or unless the context otherwise requires: "CONSOLIDATED LEVERAGE RATIO" as of any date of determination means the ratio of (i) the total liabilities of the Company and its consolidated Subsidiaries, as determined in accordance with GAAP, excluding Junior Subordinated Obligations, to (ii) the Consolidated Net Worth of the Company.

  • The obligations of the Issuer under the Notes in respect of principal, interest and other amounts, constitute direct, unconditional, unsecured Undated Junior Subordinated Obligations.

  • The payment obligations of the Issuer under the Junior Subordinated Notes and Coupons relating to them shall at all times rank equally with all other Junior Subordinated Obligations (as defined below).Junior Subordinated Notes that have a scheduled maturity date and constitute Upper Tier II Capital will have a minimum maturity of five years or may be undated.

  • Each of the Junior Subordinated Claimholders (including the Junior Subordinated Agent to the extent so instructed in writing by the other Junior Subordinated Claimholders) hereby agree to cause the Discharge of the Junior Subordinated Obligations to occur on or before the Junior Subordinated Maturity Date.

  • This Agreement shall continue in full force and effect until the earlier to occur of (a) the Discharge of the Junior Subordinated Obligations (so long as it has occurred on or prior to the Junior Subordinated Maturity Date) and (b) the Discharge of the Secured Obligations and shall thereafter be revived to the extent provided for in Section 5(e).

  • The provisions hereof as to subordination are solely for the purpose of defining the relative rights of the Lenders holding Senior Obligations, Senior Subordinated Obligations and Junior Subordinated Obligations, and none of such provisions shall excuse Borrower from its obligations to pay the Senior Subordinated Obligations and the Junior Subordinated Obligations in accordance with the terms of this Agreement and the other Loan Instruments.

  • The payment obligations of the Issuer under the Junior Subordinated Notes and the Receipts and Coupons relating to them shall at all times rank equally with all other Junior Subordinated Obligations (as defined below).Junior Subordinated Notes that have a scheduled maturity date and constitute Upper Tier II Capital will have a minimum maturity of five years or may be undated.

  • On the Junior Subordinated Maturity Date, the Borrower may either (i) issue Qualified Equity Interests of the Borrower to the applicable Junior Subordinated Claimholders or (ii) make a one-time cash payment, solely with proceeds received from the issuance of Qualified Equity Interests of the Borrower, in each case, in an amount not to exceed the amount necessary to effectuate the Discharge of the Junior Subordinated Obligations.

  • Notwithstanding the foregoing, the Junior Subordinated Lender shall be entitled to file a proof of claim with respect to the Junior Subordinated Obligations and seek to enforce same in accordance with the terms of this Agreement.

  • The Liens of the Agent for the Lenders holding Senior Obligations are pari passu and first in priority; the Liens of the Agent for the benefit of the Lenders holding Senior Subordinated Obligations are pari passu and second in priority; and, with respect only to the Pledged Interests, the Liens of the Agent for the benefit of the Lenders holding Junior Subordinated Obligations are pari passu and third in priority.


More Definitions of Junior Subordinated Obligations

Junior Subordinated Obligations means collectively, all Obligations (as defined in the Junior Subordinated Credit Agreement) and all other obligations owing, due, or secured under the terms of the Junior Subordinated Credit Agreement, or any other Junior Subordinated Loan Document, whether now existing or arising hereafter, including all principal, premium, interest, fees, attorneys’ fees, costs, charges, expenses, reimbursement obligations, indemnities, guarantees, and all other amounts payable under or secured by any Junior Subordinated Loan Document or in respect thereof (including, in each case, all amounts accruing on or after the commencement of any Insolvency Proceeding relating to any Obligor, or that would have accrued or become due under the terms of the Junior Subordinated Loan Documents but for the effect of the Insolvency Proceeding or other applicable law, and irrespective of whether a claim for all or any portion of such amounts is allowable or allowed in such Insolvency Proceeding).
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Junior Subordinated Obligations means any present and future claims in respect of obligations of the Issuer which rank or are expressed to rank, junior to claims in respect of the Subordinated Notes;
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Junior Subordinated Obligations as of any date shall mean the Borrower's obligations to repay the balance of the loans then outstanding under the Junior Subordinated Loan Instruments, including accrued and unpaid interest thereon, and all of the other amounts to be paid and obligations to be performed or otherwise satisfied under the Junior Subordinated Loan Instruments.
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Related to Junior Subordinated 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.

  • 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 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.

  • 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.

  • 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.

  • Subordinated Obligations has the meaning specified in Section 7.05.

  • 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.

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

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

  • Subordinated Obligation means any Indebtedness of the Company (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinate in right of payment to the Notes pursuant to a written agreement.

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

  • 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.

  • 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.

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

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

  • 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.

  • 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.

  • 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.

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

  • 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.

  • 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.

  • Designated Obligations means all obligations of the Borrower with respect to (a) principal of and interest on the Loans and (b) accrued and unpaid fees under the Loan Documents.

  • Permitted Obligations mean (i) nonspeculative Hedging Obligations of any Person and its Subsidiaries arising in the ordinary course of business and in accordance with such Person’s established risk management policies that are designed to protect such Person against, among other things, fluctuations in interest rates or currency exchange rates and which in the case of agreements relating to interest rates shall have a notional amount no greater than the payments due with respect to the applicable obligations being hedged and (ii) Commodity Trading Obligations. For the avoidance of doubt, such transactions shall be considered nonspeculative if undertaken in conformance with FE’s Corporate Risk Management Policy then in effect, as approved by FE’s Audit Committee, together with the Approved Business Unit Risk Management Policies referenced thereunder.