Senior Default definition

Senior Default means any Senior Payment Default or Senior Covenant Default.

Senior Default means any Default or Event of Default under the Senior Credit Agreement or any document referred to therein.

Senior Default means any “Event of Default” under the Senior Debt Documents.

Examples of Senior Default in a sentence

• If a Senior Default has occurred and is continuing or would result from any scheduled payment of principal or interest by the Company with respect to this Note, then, until the Senior Default which has occurred or which would result from such payment has been cured, no payment of principal or interest shall be deemed due or otherwise payable under this Note.

• Upon any such cure or waiver of such Senior Default, the Company may pay to the Holder all sums then due and payable under this Subordinated Note.

• Upon the occurrence of any Senior Default and unless and until such Senior Default shall have been cured in a manner satisfactory to the holder of the Senior Indebtedness or effectively waived in writing by such holder, no direct or indirect payment (in cash, property, securities or by set-off or otherwise) shall be made of or on account of this Subordinated Note or in respect of any redemption, retirement, purchase or other acquisition of this Subordinated Note.

• Nothing in this paragraph will preclude or prohibit the Holder from receiving and retaining any payment hereunder unless and until the Holder has received notice of a Senior Default Notice or from converting this Note or any amounts due hereunder into Common Stock.

• The Trustee and the Obligors shall provide the Junior Creditors and any Junior Trustee with a Senior Default Notice promptly upon the occurrence of each Senior Default, which notice shall specify the date of first occurrence thereof and the nature of such Senior Default (including whether it constitutes a Senior Non-Payment Default or a Senior Payment Default), and the Trustee shall notify the Junior Creditors and any Junior Trustee promptly in the event such Senior Default is cured or waived.

More Definitions of Senior Default

Senior Default means (i) any default or event of default under any instrument creating any Senior Indebtedness, or (ii) any event which would, with giving of notice, lapse of time, or both, or subject to any other condition subsequent to such event, constitute such a default or event of default.

Senior Default means a Payment Default or a Non-payment Default.

Senior Default means any “Default,” “Event of Default” or any condition or event that (with or without notice, lapse of time, or both) would permit Holders of Senior Debt to accelerate the maturity of such Senior Debt if that condition or event were not cured or removed within any applicable grace or cure period set forth therein.

Senior Default means a Default under (and as defined in) the Senior Facilities Agreement.

Senior Default means any “Event of Default” under the Senior Debt Documents, or any condition or event that, after notice or lapse of time or both, would constitute such an Event of Default if that condition or event were not cured or removed within any applicable grace or cure period set forth therein.

Senior Default means any “Event of Default”, as such term is defined in any Senior Loan Document.

Senior Default means any event of default under any of the Senior Debt.