Senior and Subordinated Indebtedness definition

Senior and Subordinated Indebtedness means the principal of (and premium, if any) and interest, if any (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company whether or not such claim for post-petition interest is allowed in such proceeding), on Indebtedness of the Company, whether incurred on or prior to the date of this Indenture or thereafter incurred, unless, in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such obligations are not superior in right of payment to the Securities or other Indebtedness which is pari passu with, or subordinated to, the Securities, provided, however, that Senior and Subordinated Indebtedness shall not be deemed to include (a) any Indebtedness of the Company which, when incurred and without respect to any election under Section 1111(b) of the Bankruptcy Reform Act of 1978, as amended, was without recourse to the Company, (b) any Indebtedness of the Company to any of its Subsidiaries, (c) Indebtedness to any employee of the Company, and (d) any Securities.
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Senior and Subordinated Indebtedness means the principal of (and premium, if any) and interest, if any (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company whether or not such claim for post-petition interest is allowed in such proceeding), on Indebtedness of the Company, whether incurred on or prior to the date of this Indenture or thereafter incurred, unless, in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such obligations are not superior in right of payment to the Securities or other Indebtedness which is PARI PASSU with, or subordinated to, the Securities, PROVIDED, HOWEVER, that Senior and Subordinated Indebtedness shall not be deemed to include (a) any Indebtedness of the Company which, when incurred and without respect to any election under Section 1111(b) of the Bankruptcy Reform Act of 1978, as amended, was without recourse to the Company, (b) any Indebtedness of the Company to any of its Subsidiaries, (c) Indebtedness to any employee of the Company, and (d) any Securities.
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Senior and Subordinated Indebtedness means all deposits and all unsubordinated liabilities of the Issuer and all subordinated liabilities of the Issuer including instruments constituting “Tier II” and “Upper Tier II” capital of the Issuer as defined under the RBI Guidelines, other than liabilities of the Issuer which rank or are expressed to rank either pari passu with or junior to the Hybrid Tier I Notes.
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Examples of Senior and Subordinated Indebtedness in a sentence

  • The Trustee shall not be deemed to owe any fiduciary duty to the holders of such Senior and Subordinated Indebtedness and, subject to the provisions of Article VI of this Indenture, the Trustee shall not be liable to any holder of such Senior and Subordinated Indebtedness if it shall pay over or deliver to Securityholders, the Company or any other Person money or assets to which any holder of such Senior and Subordinated Indebtedness shall be entitled by virtue of this Article XV or otherwise.

  • The payment by the Company of the principal of and interest (including Compounded Interest and Additional Sums, if any) on all Securities issued hereunder shall, to the extent and in the manner hereinafter set forth, be subordinated and junior in right of payment in full of principal of all Allocable Amounts on such Senior and Subordinated Indebtedness, whether outstanding at the date of this Indenture or thereafter incurred.

  • The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XV in respect of any Senior and Subordinated Indebtedness at any time held by it, to the same extent as any other holder of Senior and Subordinated Indebtedness, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder.

  • It is understood that the provisions of this Article XV are and are intended solely for the purposes of defining the relative rights of the holders of the Securities, on the one hand, and the holders of such Senior and Subordinated Indebtedness on the other hand.

  • The Trustee, subject to the provisions of Article VI of this Indenture, shall be entitled to conclusively rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior and Subordinated Indebtedness of the Company (or a trustee on behalf of such holder), as the case may be, to establish that such notice has been given by a holder of such Senior and Subordinated Indebtedness or a trustee on behalf of any such holder or holders.

  • With respect to the holders of Senior and Subordinated Indebtedness of the Company, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XV, and no implied covenants or obligations with respect to the holders of such Senior and Subordinated Indebtedness shall be read into this Indenture against the Trustee.

  • In the event of the acceleration of the maturity of the Securities, then no payment shall be made by the Company with respect to the principal (including redemption payments) of or interest on the Securities until the holders of all Senior and Subordinated Indebtedness outstanding at the time of such acceleration shall receive payment in full of such Senior and Subordinated Indebtedness (including any amounts due upon acceleration).

  • Each holder hereof, by his or her acceptance hereof, hereby waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior and Subordinated Indebtedness, whether now outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions.

  • Appeals must be submitted in writing to the Superintendent within five business days after receiving notice of the resolution.

  • Rights of the Trustee; Holders of Senior and Subordinated Indebtedness......................


More Definitions of Senior and Subordinated Indebtedness

Senior and Subordinated Indebtedness means all deposits and other liabilities of the Issuer (including those in respect of bonds, notes and debentures, whether senior or subordinated (but not subordinated further than instruments constituting upper “tier 2” capital of the Issuer under the Applicable Banking Regulations)) or guarantees in respect thereof, other than (i) liabilities of the Issuer under the Securities, and (ii) Other Pari Passu Claims. For the purposes of the foregoing, “Other Pari Passu Claims” means claims of creditors of the Issuer which are subordinated so as to rank pari passu with claims in respect of the Securities.
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Senior and Subordinated Indebtedness means the Principal of and interest on all Debt of the company whether created, incurred or assumed before, on or after the date of the issuance of the Securities; provided that Senior and Subordinated Indebtedness shall not include
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Senior and Subordinated Indebtedness. ’ means all deposits and other liabilities of Fortis Bank (including those in respect of bonds, notes and debentures (whether senior or subordinated)), and instruments constituting ‘‘upper Tier 2’’ or ‘‘lower Tier 2’’ capital of Fortis Bank under Applicable Banking Regulations, other than liabilities of Fortis Bank under the Securities.
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Senior and Subordinated Indebtedness means all deposits and other liabilities of ICICI Bank (including those in respect of bonds, notes and debentures (whether senior or subordinated)), and debt instruments constituting “upper Tier II” or “lower Tier II” capital of ICICI Bank from time to time, other than liabilities of ICICI Bank which rank either pari passu with or rank junior to the securities. For the avoidance of doubt, Senior and Subordinated Indebtedness shall not include any other debt securities of ICICI Bank which qualify for Tier I treatment under the RBI guidelines. Additional Amounts All payments of principal and interest in respect of the securities will be made without withholding or deduction for any taxes or other governmental charges imposed by a Taxing Jurisdiction, unless such withholding or deduction is required by law. In the event ICICI Bank is required to withhold or deduct amounts for any such taxes or other governmental charges, ICICI Bank will pay such additional amounts so that the holders of the securities will receive the same amounts as they would have received without such withholding or deduction, subject to certain exceptions. ICICI Bank will pay any stamp, administrative, court, documentary, excise or property taxes imposed on the initial issuance and delivery of the securities in a taxing jurisdiction mentioned above and will indemnify the holders of the securities for any such taxes paid by the holders of the securities, excluding any such duties or taxes which may relate to any transfer or transmission of the securities following their initial issuance and delivery by us. See “Description of the Securities — Additional Amounts.”
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Senior and Subordinated Indebtedness means the Senior Notes and any Subordinated Debt.
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Senior and Subordinated Indebtedness means all liabilities of Fortis Hybrid Financing (including those in respect of bonds, notes and debentures (whether senior or subordinated)), other than liabilities of Fortis Hybrid Financing under the Securities or SPV Parity Securities.
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Related to Senior and Subordinated Indebtedness

  • 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 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.

  • 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 Subordinated Debt means the Indebtedness represented by the Senior Subordinated Notes (including the Note Guarantees, Exchange Notes (each as defined in the Senior Subordinated Debt Documents), guarantees of Exchange Notes and any replacement Exchange Notes).

  • Subordinated Indebtedness means any Indebtedness of the Borrower or any Subsidiary the payment of which is subordinated in right to the Loan Obligations.

  • Subordinated Indebtedness Documents means any document, agreement or instrument evidencing any Subordinated Indebtedness or entered into in connection with any Subordinated Indebtedness.

  • 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.

  • Senior Subordinated Indenture means the Indenture, dated as of August 30, 2007, among the Company, the subsidiary guarantors party thereto from time to time and Xxxxx Fargo Bank, National Association, as trustee, governing the 13.5% Senior Subordinated Notes due 2015 of the Company, as the same may be amended, supplemented, waived or otherwise modified from time to time.

  • Permitted Subordinated Debt means Indebtedness of any of the Borrowers which has been subordinated and made junior to the Full Payment of the Obligations, and evidenced as such by a subordination agreement containing subordination provisions substantially in the form of Exhibit I, or otherwise in form and substance reasonably satisfactory to the Administrative Agent; provided that (a) at the time such Permitted Subordinated Debt is incurred, no Default or Event of Default has occurred or would occur as a result of such incurrence, and (b) the documentation evidencing such Permitted Subordinated Debt shall have been delivered to the Administrative Agent and shall contain all of the following characteristics: (i) it shall be unsecured, (ii) it shall bear interest at a rate not to exceed the market rate as determined in good faith by the applicable Borrower, (iii) it shall not require unscheduled principal repayments thereof prior to the maturity date of such debt, (iv) if it has any covenants, such covenants (including covenants relating to incurrence of indebtedness) shall be less restrictive than those set forth herein, (v) it shall have no restrictions on the Borrowers’ ability to grant liens securing indebtedness ranking senior to such Permitted Subordinated Debt, (vi) it shall permit the incurrence of senior indebtedness under this Agreement, (vii) it may be cross-accelerated with the Obligations and other senior indebtedness of the Borrowers (but shall not be cross-defaulted except for payment defaults which the senior lenders have not waived) and may be accelerated upon bankruptcy, and (viii) it shall provide for the complete, automatic and unconditional release of any and all guarantees of such Permitted Subordinated Debt granted by any Borrower in the event of the sale by any Person of such Borrower or the sale by any Person of all or substantially all of such Borrower’s assets (including in the case of a foreclosure).

  • 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 Note Documents means the Senior Subordinated Notes Indenture and all other instruments, agreements and other documents evidencing the Senior Subordinated Notes or providing for any guarantee or other right in respect thereof.

  • Subordinate Indebtedness means all present and future indebtedness, obligations, and liabilities of Borrower to Subordinate Lender under or in connection with the Subordinate Loan or the Subordinate Loan Documents.

  • Senior Unsecured Indebtedness means Indebtedness that is not subordinated to any other Indebtedness and is not secured or supported by a guarantee, letter of credit or other form of credit enhancement.

  • Senior Subordinated Note Indenture the Indenture entered into by the Borrower and certain of its Subsidiaries in connection with the issuance of the Senior Subordinated Notes, together with all instruments and other agreements entered into by the Borrower or such Subsidiaries in connection therewith, as the same may be amended, supplemented or otherwise modified from time to time in accordance with Section 7.9.

  • 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.

  • Subordinated Debt is indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to Bank.

  • Senior Subordinated Notes means the Borrower’s 9.75% Senior Subordinated Notes due 2014, in an original aggregate principal amount of $225,000,000.

  • Designated Indebtedness means any Indebtedness that has been designated by the Borrower at the time of the incurrence thereof as “Designated Indebtedness” for purposes of this Agreement in accordance with the requirements of Section 6.01.

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

  • Related Indebtedness means any and all indebtedness paid or payable by Borrower to Administrative Agent or any Lender pursuant to any Loan Document other than any Note.

  • 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.

  • Principal Indebtedness means the principal balance of the Loan outstanding from time to time.

  • Senior Unsecured Debt means the Indebtedness represented by the Senior Unsecured Notes (including the Note Guarantees, Exchange Notes (each as defined in the Senior Unsecured Debt Documents), guarantees of Exchange Notes and any replacement Exchange Notes).

  • Subordinate Debt means indebtedness secured hereby or by any Supplemental Indenture which is by its terms expressly subordinate and inferior hereto both in lien and right of payment.

  • Subordinated Intercompany Debt shall have the meaning assigned to such term in Section 6.01(e).