Senior Payment Obligations definition

Senior Payment Obligations shall have the meaning assigned to such term in the Loan Agreement.
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Senior Payment Obligations shall have the meaning specified in SECTION 5.14(a).
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Senior Payment Obligations collectively, as of any date: (a) all principal of and interest on the 2016 Senior Loan due and owing hereunder as of such date (including without limitation any Excess Interest Amount (as defined in the 2016 Senior Loan Agreement), any compounded interest previously due and unpaid, any interest accruing at the Rate Increase Event Rate (as defined in the 2016 Senior Loan Agreement) then due and owing and any principal prepaid pursuant to Section 2.02(d) of the 2016 Senior Loan Agreement; (b) any amounts payable pursuant to Section 2.02(g) of the 2016 Senior Loan Agreement due and owing as of such date;
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Examples of Senior Payment Obligations in a sentence

  • The Senior Reserve Fund hereunder shall terminate only when all Senior Payment Obligations with respect to the 2016 Senior Loan and the 2016 Senior Swap Agreement have been paid in full.

  • Moneys in the Senior Payment Fund (including any moneys transferred thereto from the Senior Reserve Fund) shall be used by the Custodian solely to pay Senior Payment Obligations in the following order of priority.

  • The Authority shall pay and discharge, when due, all of the Senior Payment Obligations, except when the payment thereof is being contested in good faith by appropriate procedures which will avoid financial liability and with adequate reserves provided therefor.

  • The Custodian shall credit funds into the Senior Payment Fund from the Senior Pledged Revenue Fund, in an amount which, when combined with other legally available moneys in the Senior Payment Fund (not including moneys available in the Senior Reserve Fund), will be sufficient to pay Senior Payment Obligations which have become due or are estimated to become due as provided in Section 2.02(j) of the Loan Agreement in the year in which the credit is made.

  • The Authority shall not grant or permit to be granted any lien on or security interest in and to any portion of the Senior Pledged Revenue or the Senior Pledged Collateral on a basis senior or prior to, or, other that with respect to the 2016 Senior Swap Agreement, on a parity with, the lien on and security interest in the Senior Pledged Revenue or the Senior Pledged Collateral granted hereby with respect to the Senior Payment Obligations.

  • The Authority hereby pledges, assigns and grants to the Bank a first priority security interest in the Pledged Revenue and the Pledged Collateral to secure its payment of the Senior Payment Obligations to the Bank hereunder and under the other Financing Documents, which pledge and lien shall be on the priority basis set forth in the Custodial Agreement and subject to no prior liens.

  • The Authority covenants not to issue or incur any Debt or any other obligation which is payable from or secured by any portion of the Incremental Tax Revenue on a basis senior or prior to, or on a parity with, the Senior Payment Obligations hereunder, without the prior written consent of the Bank.

  • On the Maturity Date (or prior to the Maturity Date if a Rate Increase Event has occurred and is continuing beyond any applicable grace period), the Custodian shall transfer amounts from the Loan Reserve Fund and upon transfer of such amounts from the Custodian, the Bank shall apply such amounts to the payment of all Senior Payment Obligations then due and owing the basis provided in Section 4 of the Custodial Agreement.

  • On the Maturity Date (or prior to the Maturity Date if a Rate Increase Event has occurred and is continuing beyond any applicable grace period), the Custodian shall transfer amounts from the Senior Reserve Fund and upon transfer of such amounts from the Custodian, the Bank shall apply such amounts to the payment of all Senior Payment Obligations then due and owing the basis provided in Section 4 of the Custodial Agreement.

  • The Authority shall not grant or permit to be granted any lien on or security interest in and to any portion of the Pledged Revenue or the Pledged Collateral on a basis senior or prior to, or on a parity with, the lien on and security interest in the Pledged Revenue or the Pledged Collateral granted hereby with respect to the Senior Payment Obligations.


More Definitions of Senior Payment Obligations

Senior Payment Obligations means, collectively, as of any date: (a) all principal of and interest on the 2016 Senior Loan due and owing hereunder as of such date (including without limitation any Excess Interest Amount, any compounded interest previously due and unpaid, any interest accruing at the Rate Increase Event Rate then due and owing and any principal prepaid pursuant to Section 2.02(d); (b) any amounts payable pursuant to Section 2.02(g) due and owing as of such date; (c) any fees of the Bank due and owing as of such date; (d) any replenishment of the Senior Reserve Fund required by the Custodial Agreement as of such date; (e) all Authority Net Regularly Scheduled Swap Payments due and owing under the 2016 Senior Swap Agreement as of such date and (f) all Termination Payments due and owing by the Authority under the 2016 Senior Swap Agreement as of such date.
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Senior Payment Obligations means, collectively, as of any date: (a) all principal of and interest on the 2020 Senior Loan due and owing hereunder as of such date (including without limitation any compounded interest previously due and unpaid, any interest accruing at the Rate Increase Event Rate then due and owing and any principal to be mandatorily prepaid pursuant to Section 2.02(d) hereof; (b) any fees of the Bank due and owing as of such date; and (c) any replenishment of the Loan Reserve Fund required by the Custodial Agreement as of such date; provided that, for the avoidance of doubt, Senior Payment Obligations shall not include any principal of the 2020 Senior Loan that is prepaid at the option of the Authority pursuant to Section 2.02(e) hereof or accrued interest thereon.
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Related to Senior Payment Obligations

  • Swap Agreement Obligations means any and all obligations of the Loan Parties and their Subsidiaries, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any Swap Agreement permitted hereunder with a Lender or an Affiliate of a Lender, and (b) any cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction permitted hereunder with a Lender or an Affiliate of a Lender.

  • Investment Obligations means and include, except as otherwise provided in the Supplemental Indenture providing for the authorization of Bonds, any of the following securities, if and to the extent that such securities are legal investments for funds of the Issuer;

  • Secured Cash Management Obligations means Obligations under Secured Cash Management Agreements.

  • Credit Agreement Obligations means the “Obligations” as defined in the Credit Agreement.

  • Loan Document Obligations means (a) the due and punctual payment by the Borrower of (i) the principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral and (iii) all other monetary obligations of the Borrower under this Agreement and each of the other Loan Documents, including obligations to pay fees, expense reimbursement obligations (including with respect to attorneys’ fees) and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), (b) the due and punctual performance of all other obligations of the Borrower under or pursuant to this Agreement and each of the other Loan Documents and (c) the due and punctual payment and performance of all the obligations of each other Loan Party under or pursuant to each of the Loan Documents (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), in each case of clauses (a), (b) and (c), whether now or hereafter owing.

  • Cash Management Obligation means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person under or in respect of a Cash Management Agreement.

  • Liquidity Obligations “Loan Trustee”, “Non-Extended Facility”, “Note Purchase Agreement”, “Operative Agreements”, “Participation Agreement”, “Performing Equipment Note”, “Person”, “Pool Balance”, “Rating Agencies”, “Regular Distribution Date”, “Replacement Liquidity Facility”, “Responsible Officer”, “Scheduled Payment”, “Special Payment”, “Stated Interest Rate”, “Subordination Agent”, “Taxes”, “Threshold Rating”, “Transfer”, “Trust Agreement”, “Trustee”, “Underwriters”, and “Underwriting Agreement”.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Cash Management Obligations means obligations owed by the Company or any Subsidiary to any Lender or a Cash Management Bank in respect of (1) any overdraft and related liabilities arising from treasury, depository and cash management services or any automated clearing house transfers of funds and (2) the Company’s or any Subsidiary’s participation in commercial (or purchasing) card programs at the Lender or any Affiliate (“card obligations”).

  • Credit Document Obligations shall have the meaning provided in the definition of "Obligations" in this Article IX.

  • Earn Out Obligations means, with respect to an Acquisition, all obligations of the Borrower or any Subsidiary to make earn out or other contingency payments (including purchase price adjustments, non-competition and consulting agreements, or other indemnity obligations) pursuant to the documentation relating to such Acquisition. The amount of any Earn Out Obligations at the time of determination shall be the aggregate amount, if any, of such Earn Out Obligations that are required at such time under GAAP to be recognized as liabilities on the consolidated balance sheet of the Borrower.

  • Additional Senior Debt Obligations means, with respect to any series, issue or class of Additional Senior Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional Senior Debt, (b) all other amounts payable to the related Additional Senior Debt Parties under the related Additional Senior Debt Documents and (c) any renewals or extensions of the foregoing.

  • Debt Obligations means any debt obligations issued or guaranteed by the Government of Japan.

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • Rate Management Obligations of a Person means any and all obligations of such Person, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (i) any and all Rate Management Transactions, and (ii) any and all cancellations, buy backs, reversals, terminations or assignments of any Rate Management Transactions.

  • Treasury Management Obligations means obligations under any agreement governing the provision of treasury or cash management services, including deposit accounts, funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade finance services. Treasury Management Obligations shall not constitute Indebtedness.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Credit Facility Obligations means all “Obligations” (or any other defined term having a similar purpose) as defined in the Credit Agreement.

  • Overdraft Obligations means, with respect to any Portfolio, the amount of any outstanding Overdraft(s) provided by the Custodian to such Portfolio together with all accrued interest thereon.

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Collateral Enhancement Obligation means any warrant or equity security, excluding Exchanged Equity Securities, but including without limitation, warrants relating to Mezzanine Obligations and any equity security received upon conversion or exchange of, or exercise of an option under, or otherwise in respect of a Collateral Debt Obligation; or any warrant or equity security purchased as part of a unit with a Collateral Debt Obligation (but in all cases, excluding, for the avoidance of doubt, the Collateral Debt Obligation), in each case, the acquisition of which will not result in the imposition of any present or future, actual or contingent liabilities or obligations on the Issuer other than those which may arise at its option; provided that no Collateral Enhancement Obligation may be a Dutch Ineligible Security.

  • Refunded Obligations means, collectively, the Refunded Notes, if any, and the Refunded Bonds, if any, refunded by each Series.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • debt obligation means a public security, as defined by Government Code 1201.002, secured by and payable from ad valorem taxes. The term does not include public securities that are designated as self-supporting by the political subdivision issuing the securities. Gov’t Code 1251.051(1)

  • Reimbursement Obligations means, at any time, the aggregate of all obligations of the Borrower then outstanding under Section 2.18 to reimburse the LC Issuers for amounts paid by the LC Issuers in respect of any one or more drawings under Facility LCs.

  • Senior Obligations is defined in Section 5.1 of this Agreement.