Senior Note Purchasers definition
Examples of Senior Note Purchasers in a sentence
Contemporaneously with the Closing the Company shall sell to the Senior Note Purchasers, and the Senior Note Purchasers shall purchase, the Senior Notes to be purchased by them at the Closing under the Senior Note Purchase Agreements.
First Lien Agent or any Senior Note Purchaser shall have the right upon any such public sale or sales and, to the extent permitted by law, upon any such private sale or sales, to purchase for the benefit of the Senior Note Purchasers, the whole or any part of said Collateral so sold, free of any right or equity of redemption, which equity of redemption the Grantor hereby releases.
No sales of participations, other sales, assignments, transfers or other dispositions of any agreement governing or instrument evidencing the Senior Note Obligations or any portion thereof or interest therein shall in any manner impair the Lien granted to First Lien Agent, for the benefit of Senior Note Purchasers, hereunder.
Grantor will not create, permit or suffer to exist, and Grantor will defend the Collateral against, and take such other action as is necessary to remove, any Lien on the Collateral except Permitted Encumbrances, and will defend the right, title and interest of First Lien Agent and Senior Note Purchasers in and to any of the Grantor’s rights under the Collateral against the claims and demands of all Persons whomsoever, other than holders of Permitted Encumbrances.
The powers conferred on First Lien Agent, for the benefit of the Senior Note Purchasers, under the Power of Attorney are solely to protect First Lien Agent’s interests (for the benefit of the Senior Note Purchasers) in the Collateral and shall not impose any duty upon First Lien Agent or any Senior Note Purchaser to exercise any such powers.
Neither the First Lien Agent nor the Senior Note Purchasers shall be required to marshal the Collateral or any guarantee of the Senior Note Obligations or to resort to the Collateral or any such guarantee in any particular order, and all of its and their rights hereunder or under any other Note Document shall be cumulative.
First Lien Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of Collateral and to enforce any of First Lien Agent’s remedies (for the benefit of Senior Note Purchasers), with respect to such appointment without prior notice or hearing as to such appointment.
Each of the Senior Note Purchasers appoints and authorizes Sankaty Advisors, LLC to act for the Senior Note Purchasers as the First Lien Collateral Agent in connection with the granting of a First Lien Security Interest in the Collateral as contemplated by this Agreement and the Collateral Documents on the terms set forth in the Collateral Documents.
This Security Agreement is to be read, construed and applied together with the Note Purchase Agreement and the other Note Documents which, taken together, set forth the complete understanding and agreement of First Lien Agent, Senior Note Purchasers and Grantor with respect to the matters referred to herein and therein.
All Liens granted or contemplated hereby shall be for the benefit of Senior Note Purchasers, and all proceeds or payments realized from Collateral in accordance herewith shall be applied to the Senior Note Obligations in accordance with the terms of the Note Purchase Agreement.