Examples of Senior Bank Indebtedness in a sentence
Sell, lease, assign, transfer or otherwise dispose of (i) Collateral, except for the disposition of Inventory and Equipment in the ordinary course of business or as otherwise specifically permitted by this Agreement or the terms of any Senior Bank Indebtedness, or (ii) all or any substantial part of its assets, if any, which do not constitute Collateral.
The Holder agrees not to initiate, prosecute or participate in any claim, action or other proceeding challenging the enforceability, validity, perfection or priority of the Senior Bank Indebtedness or any liens and security interests securing the Senior Bank Indebtedness.
Upon the request of Investment Manager, Borrowers will promptly deliver to Investment Manager any reports or other information delivered by Borrowers to any Senior Bank Lender under any of the Senior Bank Indebtedness.
The provisions of this Section 14 are and are intended solely for the purposes of defining the relative rights of the Holder and the holders of Senior Bank Indebtedness and nothing in this Section 14 shall impair, as between the Company and the Holder, the obligation of the Company, which is unconditional and absolute, to pay to the Holder the Principal (and premium, if any) and Interest, in accordance with the terms of this Note.
Pending the final application of any such Net Proceeds, the Company may temporarily reduce Senior Bank Indebtedness or otherwise invest such Net Proceeds in Cash Equivalents.