Senior Lien Debt definition

Senior Lien Debt means, with respect to any Collateral whose Excess Proceeds are required to be applied pursuant to Section 4.12, any Indebtedness or other Obligations secured by Liens on such Collateral ranking higher in priority than the Convertible Note Liens.

Senior Lien Debt means all Senior Lien Bonds and Senior Lien Obligations.

Senior Lien Debt has the meaning set forth in the Indenture.

Examples of Senior Lien Debt in a sentence

• The Indenture creates a pledge of and lien on the Revenues to pay Reimbursement Obligations subordinate only to Senior Lien Debt.

• Proceeds of each Series of Senior Lien Bonds or any Senior Lien Obligations shall be applied as specified in the Supplemental Indenture pursuant to which such Senior Lien Debt is issued or incurred.

• Such pledge of and lien on the Revenues and the Pledged Funds under the Indenture is a valid and binding pledge of the Authority, on a pari passu basis with the holders of all Parity Debt and shall only be subordinate to the Lien on Revenues and the Pledged Funds securing Senior Lien Debt, if any.

• The Indenture does not permit the issuance of any Debt secured by the Revenues to rank senior to lien on Revenues securing the Reimbursement Obligations, other than Senior Lien Debt issued under the Indenture.

• SUBORDINATE LIENS ON TAX INCREMENT REVENUES The Bond Resolution does not prohibit the Agency in any manner from issuing debt obligations of any kind secured by a lien on Pledged Revenues which is junior to the lien thereon of the Bonds and any Additional Bonds and Parity Obligations (collectively referred to herein as the "Senior Lien Debt").

More Definitions of Senior Lien Debt

Senior Lien Debt means all indebtedness or other obligations of the Authority having a lien upon the Revenues which is senior to that of the Notes and any Parity Debt, including, without limitation, the Senior Lien Bonds.

Senior Lien Debt means any and all obligations, liabilities and indebtedness of every kind, nature and description owing by Borrower or any Obligor to Senior Lien Creditors arising under the Senior Lien Loan Documents, whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, including principal, interest, charges, fees, costs, indemnities and expenses, however evidenced, whether as principal, surety, endorser, guarantor or otherwise, whether now existing or hereafter arising, whether arising before, during or after the initial or any renewal term of the Senior Lien Loan Agreement or after the commencement of any Insolvency Proceeding with respect to Borrower or any Obligor (and including, without limitation, the payment of interest which would accrue and become due but for the commencement of such Insolvency Proceeding whether or not such interest is allowed or allowable in whole or in part in any such Insolvency Proceeding); provided, however, for purposes of this Agreement, the term "Senior Lien Debt" shall not include (a) the aggregate outstanding principal amount of loans and outstanding letter of credit accommodations made intentionally or with actual knowledge by a Senior Lien Creditor pursuant to the Senior Lien Loan Documents (as in effect on the date hereof) in excess of the Maximum Senior Lien Debt or (b) any early termination fee payable pursuant to any Senior Lien Loan Documents. The term "Senior Lien Debt" shall include, obligations consisting of interest, fees, indemnities, costs or expenses, in each case whether or not charged by Senior Lien Creditors to the loan account of Borrower maintained by Senior Lien Creditors pursuant to the Senior Lien Loan Agreement.

Senior Lien Debt means the Senior Bonds and Parity Obligations issued in accordance with the requirements of the Senior Indenture and the provisions thereof.

Senior Lien Debt has the meaning specified in clause (39) of the definition of “Permitted Liens”.

Senior Lien Debt means the Bonds and other debt payable on a parity with the Bonds issued in accordance with the requirements of the Bond Indenture and the provisions thereof.

Senior Lien Debt means all Bonds, Parity Obligations and all other Debt issued or incurred by or on behalf of the Borrower secured by a senior lien on Revenues.

Senior Lien Debt shall not include (a) the aggregate outstanding principal amount of loans and outstanding letter of credit accommodations made intentionally or with actual knowledge by a Senior Lien Creditor pursuant to the Senior Lien Loan Documents (as in effect on the date hereof) in excess of the Maximum Senior Lien Debt or (b) any early termination fee payable pursuant to any Senior Lien Loan Documents. The term "Senior Lien Debt" shall include, obligations consisting of interest, fees, indemnities, costs or expenses, in each case whether or not charged by Senior Lien Creditors to the loan account of Borrower maintained by Senior Lien Creditors pursuant to the Senior Lien Loan Agreement.