Senior Lenders definition
Examples of Senior Lenders in a sentence
Upon request by the Company, the Holder and each subsequent holder of this Note agrees to confirm this subordination relationship to the Senior Lenders in a form reasonably acceptable to the Senior Lenders and such Holder or subsequent holder, as applicable.
The lien priorities set forth in the immediately preceding sentence shall not be altered or otherwise affected by any failure to perfect the Senior Lenders’ security interest in the Collateral, by the avoidance or invalidation of the Senior Lenders’ security interest, or by any other action or inaction which the Senior Lenders may take or fail to take with respect to the Collateral.
Nothing will impair, as between the Company and the Holder, the obligation of the Company, which is absolute and unconditional, to pay to the Holder hereof the principal hereof and interest hereon as and when the same will become due and payable, or will prevent the Holder hereof, upon an Event of Default hereunder, from exercising all rights, powers and remedies otherwise provided herein or by applicable law, all subject to the rights, if any, of the Senior Lenders under the Senior Debt Documents.
Notwithstanding the respective dates, order or time of attachment or perfection of the security interest of the Holder and the security interest of the Senior Lenders, the security interest of the Senior Lenders in the Collateral (as defined in that certain Security Agreement by and between the Company, the Material Subsidiaries and the Senior Lenders, dated as of September 25, 2024) shall at all times be prior to the security interest of the Holder.