Senior Lienholder definition
Examples of Senior Lienholder in a sentence
CONDITIONS PRECEDENT TO SELLER’S AND SUBSIDIARY’S OBLIGATION TO CLOSE 21 7.1 Accuracy of Representations 21 7.2 Performance of Covenants 21 TABLE OF CONTENTS (CONTINUED) PAGE 7.3 Delivery of Consideration 21 7.4 Additional Documents 21 7.5 No Restraints 22 7.6 Consents 22 7.7 Senior Lienholder 22 8.
The Junior Lienholder further warrants and represents to the Senior Lienholder that the Junior Lienholder has been duly authorized by the requisite number of Noteholders required under the terms of the Indenture to enter into this Agreement on behalf of all of the Noteholders and that, upon the execution and delivery hereof by all of the parties hereto, this Agreement shall be binding upon and enforceable against the Noteholders.
This Agreement shall not be construed to give rise to any obligation on the part of any Subordinate Lienholder to assume or pay any indebtedness of Company to Senior Lienholder, nor shall this Agreement be construed to give rise to any obligation on the part of AHAB or any Purchaser to provide to Company any amount or enter into other financing arrangement with Company.
In the event that any Senior Lienholder directly or indirectly gives to the Company, HE, RPG or any other party obligated under any Security Document or directly or indirectly receives from the Company, HE, RPG or any other party obligated under any Security Document notice of an Event of Default (as defined in the Amended and Restated Credit Facility Agreement), the Senior Lienholders shall cause a copy of such notice to be delivered promptly to the Junior Lienholders.
The Noteholders shall each be responsible for keeping informed of the financial condition of the Credit Parties and of all other circumstances bearing upon the risk of nonpayment of the Junior Lienholder Debt that diligent inquiry would reveal and the Junior Lienholder hereby agrees for itself and on behalf of the Noteholders that the Senior Lienholder shall have no duty to advise the Junior Lienholder or the Noteholders of any information regarding such condition or any such circumstances.
This agreement shall not limit, waive, modify or replace the requirement that the Senior Lienholder comply with IRC Section 42(h)(6)(E)(ii) as stated in the AHSC Regulatory Agreement.
The Junior Lienholder agrees that the Senior Lienholder has not made any representation or warranty with respect to the due execution, legality, validity, completeness or enforceability of any of the Senior Lienholder Documents, the perfection or priority of any Lien securing any of the Senior Lienholder Debt or the collectability of any of the Senior Lienholder Debt.
Notices shall be addressed as follows: If to the Senior Lienholder: Fleet Capital Corporation ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attention: Southeast Loan Administration Facsimile No.: ▇▇▇-▇▇▇-▇▇▇▇ With a copy to: ▇▇▇▇▇▇▇▇▇▇ & ▇▇▇▇, P.A. ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇▇▇▇ ▇.
If the Senior Lienholder shall be required by the Code or any other applicable law to give notice to the Junior Lienholder or the Noteholders of any action taken or to be taken by the Senior Lienholder against or with respect to any of the Senior Lienholder Collateral, such notice shall be given in accordance with Section 20 below and five (5) days notice shall be conclusively deemed to be commercially reasonable.
Senior Lienholder hereby consents to and waives notice of any and all extensions and renewals of Company’s obligations to Subordinate Lienholder, any or all of which, at Subordinate Lienholder’s option, may be for a period longer than the period of the renewed or extended obligation.