Senior Obligations definition

Senior Obligations is defined in Section 5.1 of this Agreement.

Senior Obligations means the Credit Agreement Obligations and any Additional Senior Debt Obligations.

Senior Obligations has the meaning set forth in Section 5.1.

Examples of Senior Obligations in a sentence

• This is a continuing agreement of Lien subordination, and the Senior Secured Parties may continue, at any time and without notice to the Second Priority Representatives or any Second Priority Debt Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Obligors or any Subsidiary constituting Senior Obligations in reliance hereon.

• If more than one Second Priority Debt Party has exercised such purchase right and the aggregate amount of all purchase rights exercised exceeds the amount of the Senior Obligations, the amount with respect to which each exercising Second Priority Debt Party shall be deemed to have exercised its purchase right shall be reduced on a ratable basis according to the amounts of the original exercises of such purchase right by each such Second Priority Debt Party.

• Subject to Section 5.06 and Section 6.04, this Agreement shall continue to be effective until the Discharge of Senior Obligations shall have occurred.

• Except as otherwise provided herein, all payments received by the Senior Secured Parties may be applied, reversed and reapplied, in whole or in part, to such part of the Senior Obligations as the Senior Secured Parties, in their sole discretion, deem appropriate, in accordance with the terms of the Senior Debt Documents.

• The Lien priorities provided for in Section 2.01 shall not be altered or otherwise affected by any amendment, supplement or other modification, or any Refinancing, of either the Senior Obligations or the Second Priority Debt Obligations, or any portion thereof.

More Definitions of Senior Obligations

Senior Obligations means (a) with respect to any ABL Priority Collateral, all ABL Obligations and (b) with respect to any Term Loan Priority Collateral, all Term Loan Obligations.

Senior Obligations means all obligations of the Issuer that are unsubordinated or that are subordinated and do not constitute either Junior Obligations or Parity Obligations.

Senior Obligations shall have the meaning given to the term “Obligations” in the Credit Agreement (and shall include, without limitation, all interest accruing after the commencement of any bankruptcy, insolvency, receivership or similar proceeding at the rate provided in the governing documentation, whether or not such interest is an allowed claim in such proceeding).

Senior Obligations means all obligations of the Issuer, issued directly or indirectly by it, other than Parity Obligations and Junior Obligations;

Senior Obligations means all unsubordinated payment obligations of the Issuer (including payment obligations to the Issuer's depositors in respect of their due claims) and all subordinated payment obligations (if any) of the Issuer except Junior Obligations or Pari Passu Obligations;

Senior Obligations means, collectively, the unpaid principal of and interest on the Senior Loan and all other obligations and liabilities of the Borrower Entities to the Senior Lender (including interest accruing at the then applicable rate after the maturity (including by acceleration) of the Senior Loan and interest accruing at the then applicable rate after the commencement of any Reorganization Proceeding, whether or not a claim for post-filing or post-petition interest is allowed in any such Proceeding), whether absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Senior Loan Documents, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including all fees and disbursements of counsel to the Senior Lender that are required to be paid by the Borrower or any other party pursuant to the terms of the Senior Loan Documents). In no event shall the term “Senior Obligations” include any of the Subordinated Obligations. “Subordinated Obligations” shall mean, collectively, the unpaid principal of and interest on the Subordinated Loan and all other obligations and liabilities of the Borrower or any other party to the Subordinated Lender (including interest accruing at the then applicable rate after maturity (including by acceleration) of the Subordinated Loan and interest accruing at the then applicable rate after the commencement of any Reorganization Proceeding, whether or not a claim for post-filing or post-petition interest is allowed in such Proceeding), whether absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Subordinated Loan Documents, whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including all fees and disbursements of counsel to the Subordinated Lender that are required to be paid by the Borrower or any other party pursuant to the terms of the Subordinated Loan Documents). In no event shall the term “Subordinated Obligations” include any of the Senior Obligations.

Senior Obligations has the meaning ascribed to it in Section 12.9(a).