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 to the Note Liens.

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

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.

Examples of Senior Lien Debt in a sentence

• 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.

• Under the terms of the Indenture, the Revenues cannot secure any Debt of the Authority other than Senior Lien Debt, the Bank Note, Parity Debt, the Obligations and Subordinate Obligations.

• The payment of the Reimbursement Obligations ranks on a parity with the payment of principal of and interest on Parity Debt, is not subordinate to the payment of any Secured Debt secured by a Lien on the Sales Tax Revenues or the Pledged Funds or any other claim other than payments with respect to the principal of and interest on the Senior Lien Debt, and is prior as against all other Persons having claims of any kind in tort, contract or otherwise, whether or not such Persons have notice of the Lien.

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

• Amounts in each Account of the Second Senior Lien Debt Service Reserve Fund shall be pledged to Holders of Second Senior Xxxx Xxxxx of the related Series.

More Definitions of Senior Lien Debt

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

Senior Lien Debt means, collectively, the Bonds and any notes, bonds or other obligations which are issued following the Closing Date for the purpose of refunding any Bonds or other issue of Senior Lien Debt in whole or in part as permitted by the Dissolution Act.

Senior Lien Debt has the meaning set forth in the I ndenture.

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 Revenues

Senior Lien Debt means, without duplication, (a) any Indebtedness secured by a Lien on any of the assets of Holdings or its Subsidiaries that is higher in priority than the Liens securing the Obligations, (b) any Indebtedness of any Subsidiary of Holdings that is not a Guarantor and (c) any Indebtedness secured by any assets of Holdings or any of its Subsidiaries that do not constitute Collateral. For the avoidance of doubt, “Senior Lien Debt” shall (x) include the balance sheet amount of all Capital Leases and (y) include the full face amount of all outstanding First Lien Loans and Second Lien Loans (whether or not a lesser amount is recorded on the balance sheet of Holdings and its Subsidiaries solely as a result of any original issue discount on such First Lien Loans or Second Lien Loans).

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 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.