Examples of Senior Creditor Claims in a sentence
For avoidance of doubt, all claims, rights and remedies of any of the Maker or the Holder with respect to this Note are hereby subordinated and made subsequent and inferior to the Senior Creditor Claims and any liens, claims, rights and remedies arising out of, or in connection with any Senior Creditor Claim in accordance with the terms of the Subordination Agreement.
The indebtedness evidenced by the Subordinated Note is unsecured and wholly subordinate and inferior in claim and right and time of payment to any and all Senior Creditor Claims in accordance with the terms of the Subordination Agreement.
The indebtedness evidenced by the Subordinated Note is unsecured and wholly subordinate and inferior in claim and right and time of payment to any and all Senior Creditor Claims (as defined in the Subordination Agreement) in accordance with the terms of the Subordination Agreement.
Until the Discharge of Senior Creditor Claims has occurred, each Second Priority Agent, on behalf of itself and each applicable Second Priority Secured Party, agrees that none of them shall seek relief from the automatic stay or from any other stay in any Insolvency or Liquidation Proceeding or take any action in derogation thereof, in each case in respect of any Common Collateral, without the prior written consent of all First Lien Agents and the Required Lenders under the Senior Creditor Documents.
Unless and until the Discharge of Senior Creditor Claims has occurred, each First Lien Agent and the Senior Creditors shall have the sole and exclusive right, subject to the rights of the Grantors under the Senior Creditor Documents, to adjust settlement for any insurance policy covering the Common Collateral in respect of the Second Priority Claims in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral.
Periodic Distributions to Holders of Allowed General Unsecured Claims and Allowed Senior Creditor Claims on account of, as appropriate, the Remaining Secondary Plan Distribution B Amount and the Remaining Substitute Plan Distribution Amount shall be determined and made in a similar manner and fashion as Periodic Distributions on respect of the Remaining Plan Distribution Amount.
Each Second Priority Agent, on behalf of itself and each applicable Second Priority Secured Party, hereby waives any rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of Senior Creditor Claims has occurred.
Equipment Lease Secured Claims (Class 1), General Unsecured Claims (Class 4), Senior Creditor Claims (Class 5), Convertible Subordinated Note Claims (Class 6) and Convenience Claims (Class 7) are Impaired by this Plan, and only the Holders of Allowed Claims in such Classes at the time the vote on this Plan is solicited are entitled to vote to accept or reject this Plan.
All such portions of the Plan Distribution and, except for Secondary Plan Distribution A, other distributions and property shall be delivered by the Debtors and Reorganized USi directly to the Holders of Senior Creditor Claims pursuant to the Subordination Provisions.
This is a continuing agreement of lien subordination and the Senior Creditors may continue, at any time and without notice to any Second Priority Agent or any Second Priority Secured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Borrower or any other Grantor constituting Senior Creditor Claims in reliance hereon.