Senior Default Notice definition

Senior Default Notice means a written notice from the Trustee to the Junior Creditors or any Junior Trustee on their behalf pursuant to which the Junior Creditors or Junior Trustee is notified of the occurrence of a Senior Default, which notice incorporates a reasonably detailed description of such Senior Default.

Senior Default Notice means a written notice sent by the Senior Creditor Representative to the Subordinated Creditor Representative pursuant to which the Subordinated Creditors are notified of the existence of a Senior Covenant Default.

Senior Default Notice means a written notice from Agent to Subordinated Obligee pursuant to which Subordinated Obligee is notified of the occurrence of a Senior Default, which notice incorporates a reasonably detailed description of such Senior Default.

Examples of Senior Default Notice in a sentence

• 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.

• Notwithstanding the above, the right to deliver a Senior Default Notice (as defined in the Subordination Agreement and a notice of an Extension Period as defined in the Junior Debentures Indenture and the equivalent of a payment blockage notice under any other Subordinated Debt), shall reside solely with the Administrative Agent, and the Administrative Agent shall deliver such notice, only upon the direction of the Required Lenders.

• Likewise, Lender, Owner and Borrower each shall provide Junior Creditor with a Senior Default Notice upon the occurrence of each Event of Default under the Senior Loan Documents, and Lender shall notify Junior Creditor in the event such Event of Default is cured or waived.

• Senior Default Notice shall mean a written notice from the holders of Senior Debt to Holder pursuant to which Holder is notified of the occurrence of a Senior Default, which notice incorporates a reasonably detailed description of such Senior Default.

More Definitions of Senior Default Notice

Senior Default Notice means a written notice from Senior Agent to Subordinated Agent, with a copy sent to the Loan Parties in accordance with the Senior Credit Agreement, pursuant to which Subordinated Agent is notified of the occurrence of a Senior Default, which notice incorporates a reasonably detailed description of such Senior Default and states that it is a “Senior Default Notice” within the meaning of this Agreement that is intended to commence a payment blockage period under this Agreement.

Senior Default Notice means a written notice delivered by Agent to Subordinated Lender and EGP that an Event of Default has occurred and is continuing under the Senior Debt Documents.

Senior Default Notice means a written notice from Agent to Subordinated Creditors pursuant to which Subordinated Creditors are notified of the occurrence of a Senior Default, which notice incorporates a reasonably detailed description of such Senior Default.

Senior Default Notice means a written notice from Senior Agent or any Senior Creditor to Subordinated Agent and the Company pursuant to which the Subordinated Agent is notified of the existence of a Senior Covenant Default. Senior Indebtedness shall mean all Indebtedness, liabilities and other obligations of any and every kind and nature now existing or hereafter arising, contingent or otherwise, of any Obligor or any other Person under, in connection with, or evidenced or secured by the Senior Purchase Agreement or any of the other Basic Documents, including, without limitation, all such Obligations to pay (i) principal, (ii) interest or premium (including interest accruing after the commencement of any Proceeding, whether or not constituting an allowed claim in such Proceeding), (iii) fees, (iv) costs, expenses and other amounts related to any indemnity against loss, damage or liability, (v) any other monetary obligation, and all such Indebtedness, obligations and liabilities incurred with respect to Permitted Refinancings, together with any amendments, restatements, modifications, renewals or extensions of any thereof permitted hereunder; provided, that, in no event shall the principal amount of the Senior Indebtedness exceed the sum of (a) $30,000,000, reduced by the amount of any principal repayments and permanent commitment reductions under the Senior Purchase Agreement or any Permitted Refinancing Debt Documents, to the extent that such repayments and reductions may not be reborrowed (specifically excluding, however, any such repayments and commitment reductions occurring in connection with any Permitted Refinancing), plus (b) costs and expenses incurred following the occurrence of a Senior Payment Default or Senior Covenant Default, as the case may be, by or for the account of the holders of Senior Indebtedness (or any representatives thereof) to preserve or protect any Senior Creditor Collateral, plus (c) the amount of interest that is capitalized and added to the principal amount of the Senior Notes in accordance with the terms thereof.

Senior Default Notice means a written notice from Senior Creditor to the Junior Creditor pursuant to which Junior Creditor is notified of the occurrence of a Senior Covenant Default, which notice incorporates a reasonably detailed description of such Senior Covenant Default.

Senior Default Notice means a Senior Default Notice as referred to in Section 11.4 of the Company's Senior Subordinated Note Agreements dated as of December 1, 1989 and May 15, 1990, respectively.

Senior Default Notice see Section 2.3(b).