Senior Obligations Termination Date definition

Senior Obligations Termination Date means the date on which all Senior Obligations (including all interest accrued thereon after the commencement of any bankruptcy, insolvency or liquidation proceeding at the rate, including any applicable post-default rate, specified in the applicable Senior Claim Documents, even if such interest is not enforceable, allowable or allowed as a claim in such proceeding) have been paid in full in cash (and/or defeased in accordance with the applicable Senior Claim Documents), all commitments to extend credit under all Senior Claim Documents have terminated or expired and all outstanding letters of credit issued pursuant to any Senior Claim Documents have been cancelled, terminated or cash collateralized at 102.5% of the aggregate undrawn amount.
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Senior Obligations Termination Date means the date on which the Loans (other than the Tranche B Revolving Loan) have been indefeasibly repaid in full and all other Senior Obligations under the Agreement and the other Loan Documents have been completely discharged and Letter of Credit Obligations have been cash collateralized, canceled or backed by stand-by letters of credit in accordance with Annex B, and Borrower shall have no further right to borrow any monies under the Agreement.
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Examples of Senior Obligations Termination Date in a sentence

  • Subject to and from and after the Senior Obligations Termination Date, Junior Claimant shall be subrogated to the rights of the Senior Claimants to receive payments or distributions of cash, property or securities of the Subordinated Debtor applicable to the Senior Claims until all amounts owing on the Subordinated Debt shall be paid in full.

  • So long as a Blockage Period has been commenced and is continuing, Payee will not ask, demand or sue for, any portion of the indebtedness evidenced by this Note, until the earliest to occur of (a) the acceleration of the Senior Obligations, (b) the commencement of an Insolvency Proceeding, and (c) the Senior Obligations Termination Date.

  • No payment or distribution by Payee to Wells Fargo pursuant to the WF Subordination Provisions shall entitle Payee to exercise any right of subrogation in respect thereof until the Senior Obligations Termination Date.

  • Payee shall hold any money and/or other property received by Payee from Maker during any Blockage Period in trust for Wells Fargo and promptly after receipt, deliver such money and other property to Wells Fargo according to Wells Fargo’s instructions until the Senior Obligations Termination Date.

  • Executive covenants not to xxx the Company or any other person or entity described above, at law or in equity, in any forum, for any claims, counterclaims, actions, complaints or causes of actions that are within the scope of this Release of Claims.

  • No payment or distribution by Payee to Wells Fargo pursuant to the subordination provisions of this Note shall entitle Payee to exercise any right of subrogation in respect thereof until the Senior Obligations Termination Date.

Related to Senior Obligations Termination Date

  • Senior Termination Date For each Senior Certificate Group, the Distribution Date on which the aggregate Class Certificate Balance of the related Classes of Senior Certificates has been reduced to zero.

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • Standstill Termination Date means the earlier of (i) the first anniversary of the Board Rights Termination Date and (ii) the later of (A) the third anniversary of this Agreement or (B) the first anniversary of the date on which both the Purchaser Designated Director has resigned from the Board and the Purchaser has permanently waived and renounced the Purchaser’s Board observation rights and Board designation rights in Section 1 and Section 2 of this Agreement.

  • Revolver Termination Date means the date that is the four (4) year anniversary of the Restatement Effective Date, unless extended with the consent of each Lender in its sole and absolute discretion.

  • Forbearance Termination Date means the earlier to occur of (i) the Termination Date and (ii) a Termination Event.

  • Series Termination Date means, with respect to any Series of Notes, the date specified as such in the applicable Series Supplement.

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Revolving Facility Termination Date means the earlier of (i) January 29, 2013, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.

  • Revolving Termination Date means the earlier to occur of:

  • Mandatory Termination Date means the "Termination Date" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Escrow Termination Date has the meaning ascribed to such term in Section 9.12.

  • Final Termination Date means the last date of the final year in which the Applicant is required to Maintain Viable Presence and as further identified in Section 2.3.E of this Agreement.

  • Existing Termination Date as defined in Section 2.18.

  • Agreement Termination Date is defined in Section 7.4.

  • Premium Termination Date With respect to the Series A Certificates, the scheduled maturity date of the Series A Certificates, with respect to the Series B Certificates, the scheduled maturity date of the Series B Certificates and with respect to the Series C Certificates, the scheduled maturity date of the Series C Certificates.

  • Loan Termination Date means the earliest to occur of the following: (i) as to TERM NOTE 2 and TERM NOTE 5, September 1, 2011; as to the REVOLVING NOTE, May 18, 2009 (ii) the date the OBLIGATIONS are accelerated pursuant to this AGREEMENT, and (iii) the date BANK receives (a) notice in writing from BORROWER of BORROWER’s election to terminate this AGREEMENT and (b) indefeasible payment in full of the OBLIGATIONS.

  • Accretion Termination Date As defined in the Series Supplement.

  • Bankruptcy Coverage Termination Date The point in time at which the Bankruptcy Loss Coverage Amount is reduced to zero.

  • Swap Termination Event means the occurrence of a “Termination Event” under the Swap Agreement, as defined in the Swap Agreement.]

  • Outside Termination Date shall have the meaning set forth in Section 8.01(f).

  • Term Loan Termination Date means the earlier to occur of (a) the Term Loan Maturity Date and (b) the acceleration of the Term Loans in accordance with the terms hereof.

  • Liquidity Termination Date means the earlier to occur of (a) July 13, 2009, as such date may be extended from time to time by the Lender’s Liquidity Banks in accordance with the Liquidity Agreement, and (b) the occurrence of an Event of Bankruptcy with respect to the Lender.

  • Initial Termination Date has the meaning set forth in Section 8.2(a).

  • Scheduled Termination Date means the date that is 364 days from (and including) the Effective Date, or any succeeding date to which the term of this Agreement is extended pursuant to Section 2.03.

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.