Senior Guarantee definition

Senior Guarantee means any guarantee by a New Guarantor of Indebtedness incurred by the Borrower or any of its Subsidiaries after the effectiveness of Amendment Number Two; provided that the aggregate principal amount of Indebtedness guaranteed under any Senior Guarantee shall in no case exceed 10.0% of the Purchase Price of the relevant Vessel owned by the Principal Subsidiary of such New Guarantor that acquired such Vessel; provided, however, that in the event such Senior Guarantee constitutes a crisis-related credit support arrangement (as determined by the Borrower in its reasonable discretion acting in good faith), then the aggregate principal amount of Indebtedness guaranteed under any Senior Guarantee may be up to, but shall in no case exceed, 30.0% of the Purchase Price of the relevant Vessel owned by the Principal Subsidiary of such New Guarantor that acquired such Vessel (the “Crisis Exception”); and provided further that, prior to relying on the Crisis Exception, the Borrower shall provide Finnvera (with a copy to the Facility Agent) with at least 3 Business Days advance written notice (the “Advance Notice Period”) of the Borrower’s determination that a crisis has occurred and, if so requested by Finnvera, shall discuss this determination in good faith with Finnvera during the Advance Notice Period (it being understood that nothing herein shall prevent the Borrower from relying on the Crisis Exception following the end of the Advance Notice Period).”;

Senior Guarantee means the Guarantees by the Guarantors of Obligations under the Credit Agreement or other Senior Debt.

Senior Guarantee means any guarantee of the obligations of the Company under this Indenture and the Securities by any Person in accordance with the provisions of this Indenture.

Examples of Senior Guarantee in a sentence

• The payment obligations of the Issuer under the Senior Notes and the Coupons relating to them and of the Guarantor under the Senior Guarantee shall, save for such exceptions as may be provided by applicable legislation and subject to Condition 4, at all times rank at least equally with all other outstanding, present and future, unsecured and unsubordinated obligations of the Issuer and the Guarantor respectively.

• The obligations of the Guarantor under the Senior Guarantee (as defined in the Trust Deed) are contained in the Trust Deed.

• The Obligations of each Guarantor under its Note Guarantee pursuant to this Article 11 shall be junior and subordinated to the Senior Guarantee of such Guarantor on the same basis as the Notes are junior and subordinated to Senior Debt of the Company.

• The obligations of the Guarantor under the ZIC Senior Guarantee constitute direct, unconditional, unsubordinated and unsecured obligations of the Guarantor.Claims of Noteholders under the ZIC Senior Guarantee rank and will rank pari passu with all other outstanding unsecured and unsubordinated obligations of the Guarantor, present and future, save for statutorily preferred exceptions, but, in the event of insolvency, only to the extent permitted by applicable laws relating to creditors’ rights.

• The payment obligations of the Guarantor under the Senior Guarantee and the Trust Deed constitute direct, unconditional, unsubordinated and unsecured obligations of the Guarantor and shall rank pari passu with all other unsecured obligations (other than subordinated obligations and priorities created by law) of the Guarantor.

More Definitions of Senior Guarantee

Senior Guarantee means a Guarantor's guarantee of the Senior Notes.

Senior Guarantee means any guarantee by a New Guarantor of Indebtedness incurred by the Borrower or any of its Subsidiaries after the effectiveness of the Amendment and Restatement No.4; provided that the aggregate principal amount of Indebtedness guaranteed under any Senior Guarantee shall in no case exceed 10.0% of the Purchase Price of the relevant Vessel owned by the Principal Subsidiary of such New Guarantor that acquired such Vessel.

Senior Guarantee means the guarantee by Mortgagor of the Company's Indenture Obligations (as defined in the Senior Note Indenture) pursuant to Article Fourteen of the Senior Note Indenture.

Senior Guarantee means (i) the guarantee by Group of the Guarantied Obligations pursuant to the Credit Agreement, (ii) the guarantee by Packaging of the Guarantied Obligations pursuant to the Subsidiary Guaranty to which it is a party and (iii) if applicable, the guarantee by any Guaranteeing Subsidiary of obligations of the issuer or issuers of any New Senior Debt.

Senior Guarantee means each of the senior guarantees issued by the Guarantor on May 30, 2008 and May 13, 2015, respectively, relating to the Program. Subordinated Guarantee The obligations of the Issuer under the Subordinated Notes thatare 3(a)(2) Notes (the “3(a)(2) Subordinated Notes”) will be guaranteed on a subordinated basis by the Guarantor (the “Subordinated Guarantee” and, along with the Senior Preferred Guarantee and the Senior Non Preferred Guarantee, the “Guarantees”). For so long as any Existing Subordinated Note is outstanding, the Guarantor’s obligations under the Subordinated Guarantee constitute and will constitute direct, unconditional, unsecured and subordinated obligations of the Guarantor and rank and will rank pari passu with all other present and future direct, unconditional, unsecured and ordinarily subordinated obligations of the Issuer. Subject to applicable law, in the event of the voluntary liquidation of the Issuer, bankruptcy proceedings or any other similar proceedings affecting the Issuer, the rights to payment of a holder of any 3(a)(2) Subordinated Notes under the Subordinated Guarantee shall be subordinated to the full payment of unsubordinated creditors of the Issuer (including depositors) but, subject to such payment in full, a holder of 3(a)(2) Subordinated Notes shall be paid under the Subordinated Guarantee in priority to prêts participatifs granted to the Issuer, titres participatifs issued by the Issuer and any Undated Deeply Subordinated Notes (obligations dites “super subordonnées” i.e. engagements subordonnés de dernier rang) issued by the Issuer. Upon redemption or repurchase and cancellation of all of the Existing Subordinated Notes, the Guarantor’s obligations under the Subordinated Guarantee will constitute direct, unconditional, unsecured and subordinated obligations of the Guarantor and will rank pari passu among themselves and pari passu with:

Senior Guarantee means any guarantee provided by any of the Company’s Subsidiaries in respect of any Senior Debt owing to the Company’s principal banking syndicate.

Senior Guarantee means that certain Guarantee, dated as of March 5, 1996, executed by Company in favor of BT Commercial Corporation, as Agent under the Credit Agreement, as it may be supplemented, amended, extended, amended and restated or otherwise modified from time to time, or any other guarantee required of obligations under the Credit Agreement.