Examples of Senior Default in a sentence
Each SOC is progressed through the governance route of the Trust and ultimately presented to the Capital and Service Development Group for consideration as to alignment with strategic priorities, investment potential and lifecycle payback.
DeFranco testified he initially added Fuller to his travel benefits as a “registered companion.” Fuller later realized her children and mother could also have travel benefits if she were DeFranco’s “domestic partner” or “spouse,” and DeFranco agreed to change Fuller’s status to domestic partner.On April 9, 2015, Fuller told DeFranco that American Airlines limited domestic partner status in the United States to same-sex couples.
In relation to the Gray's Shopping Centre Loan and the Normandy House Loan, which are bullet repayment loans (and therefore, there are no amortised repayments), voluntary prepayments of the loans made prior to the final repayment date and prior to a Material Senior Default, are for the account of the Senior Lenders and the Junior Lenders on a pro rata basis.
Amortised Repayment and Prepayment In relation to the Admiral Portfolio Loan and the Halton Lea Shopping Centre Loan, amortised repayments of the loan made prior to the final repayment date and prior to a Material Senior Default, are for the account of the Junior Lenders and any voluntary prepayments prior to a Material Senior Default, are for the account of the Senior Lenders and the Junior Lenders on a pro rata basis.
Save for "Excess Senior Debt", all amounts of principal and interest received shall be paid into the Tranching Account in respect of such Tranched Loan prior to certain events of default under the Credit Agreement (non-payment; breach of interest cover ratios; insolvency related breaches; or, prior to securitisation, any other event of default which the majority Senior Lenders determine will have a material adverse effect under the Credit Agreement) (a "Material Senior Default").