Senior Claim definition

Senior Claim means, with respect to any Obligations (other than Expenses), all other Obligations the payment of which constitutes a Prior Ranking Amount with respect thereto.

Senior Claim has the meaning set forth in Section 10.1(a) of the Indenture.

Senior Claim has the meaning given to such term in Section 11.01(a).

Examples of Senior Claim in a sentence

• Notwithstanding the time of filing, attachment or recording of any document or other instrument, it is agreed by Junior Claimant that any Liens arising under or pursuant to the Senior Claim Documents shall be senior to any Liens arising in favor of Junior Claimant as part of or relating to the Subordinated Debt Documents, if any; provided, however, that nothing herein shall be deemed to permit Junior Claimant to obtain any such Liens.

• The Junior Claimant acknowledges that it has been provided with a copy of the Senior Claim Documents and has read and is familiar with the provisions thereof.

• In the event any Junior Secured Party in respect of any Collateral becomes a judgment lien creditor in respect of such Collateral as a result of its enforcement of its rights as an unsecured creditor, such judgment lien shall be subordinated to any Lien on such Collateral securing any Senior Claim in respect of such Collateral on the same basis and to the same extent as the other Liens on such Collateral securing the Junior Claims are subordinated to those securing the Senior Claims under this Agreement.

• The Subordinated Loans owing to each Originator shall be evidenced by, and shall be payable in accordance with the terms and provisions of its Subordinated Note and shall be payable solely from cash available to Buyer after payment of all amounts due in respect of the Senior Claim (as defined in the Subordinated Note) or to become due in respect of the Senior Claim within 30 days of the date of proposed payment on the Subordinated Note.

• The Adequate Protection Senior Claim shall: (i) be subordinate only to: (A) the Carve-Out, and (B) the Super-Priority Claim; and (ii) be senior and superior to the Subordinate Claims and Related Rights.

More Definitions of Senior Claim

Senior Claim has the meaning given thereto in Section 11.01(a) hereof.

Senior Claim means, with respect to any Obligations, all other Obligations the payment of which constitutes a Prior Ranking Amount with respect thereto.

Senior Claim means, in relation to an Eligible Bank, any claim or right which the Guarantor has or may (on whatever ground) have against any person who owes any Junior Claim to that Eligible Bank.

Senior Claim means a Claim that is senior to a subject Claim in accordance with the priorities set forth in the Priority Waterfall.

Senior Claim means all of Borrower’s indebtedness and liabilities to Senior Lender now existing or hereafter arising, direct or indirect, absolute or contingent, joint or several, whether as maker, endorser, surety, guarantor or otherwise, as well as the notes or other instruments evidencing the same, and any extensions, renewals, restatements or refinancings thereof, including, without limitation, the obligations of Borrower to Senior Lender under the Credit Agreement and the documents related thereto.

Senior Claim means all of Borrower’s indebtedness, liabilities and liens to Senior Lender arising under the Senior Mortgage (including all future advances) including all documents executed or to be executed in connection therewith, including but not limited to a Promissory Note, a Loan Agreement, and any and all documents, instruments and agreements executed by Borrower in connection with the Senior Loan.

Senior Claim means a claim which is either an Administrative Claim, other than an Administrative Claim for which Professional Fee Applications are required to be filed, or a Class 1 or Class 2 Claim.