Senior Priority Debt definition

Senior Priority Debt means:

Senior Priority Debt means any indebtedness incurred by the Grantor as permitted under Section 4.06(e) of the Indentures that is secured by a security interest in the Collateral senior to that granted to the Trustee on behalf of the Noteholders, including, but not limited to indebtedness incurred under the Loan Agreement.

Senior Priority Debt as defined in the First Lien Intercreditor Agreement.

Examples of Senior Priority Debt in a sentence

• No Additional Indebtedness may be designated both Senior Priority Debt and Junior Priority Debt.

• In exercising rights and remedies with respect to the Senior Priority Collateral, the Senior Priority Representatives and the Senior Priority Secured Parties may enforce the provisions of the Senior Priority Debt Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion.

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

• Notwithstanding the foregoing, no provision in this Agreement shall be construed to prevent or impair the rights of any Senior Priority Representative to enforce this Agreement (including the priority of the Liens securing the Senior Obligations as provided in Section 2.01) or any of the Senior Priority Debt Documents.

• The Company hereby designates such Additional Indebtedness as Additional Indebtedness under the Intercreditor Agreement and such Additional Indebtedness shall constitute [Senior Priority Debt] [Junior Priority Debt].

More Definitions of Senior Priority Debt

Senior Priority Debt means the “Senior Priority Debt” as defined in the Intercreditor Agreement (or any comparable term in any Other Intercreditor Agreement, as applicable).

Senior Priority Debt means all obligations, liabilities and Indebtedness of every kind, nature and description owing by any Grantor to any Senior-Priority Secured Party (in its capacity as such), including principal, interest, charges, fees, premiums, indemnities and expenses (including attorney’s fees and expenses), however evidenced, whether as principal, surety, endorser, guarantor or otherwise, evidenced by or arising under any of the Senior-Priority Documents, whether now existing or hereafter arising, whether arising before, during or after the initial or any renewal term of the Senior-Priority Documents or after the commencement of any case with respect to any Grantor under the Bankruptcy Code or any other Insolvency or Liquidation Proceeding (and including any principal, interest, fees, costs, expenses and other amounts which would accrue and become due but for the commencement of such case, whether or not such amounts are allowed or allowable in whole or in part in such case or similar proceeding), whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured.

Senior Priority Debt means (i) the Obligations and other indebtedness and liabilities of any Borrower to the Lender Group under or in connection with the Loan Agreement and the other Loan Documents, including all unpaid principal of the Advances, all interest accrued thereon (including all interest that, but for the provisions of the Bankruptcy Code, would have accrued), all fees due under the Loan Agreement and the other Loan Documents (including all fees that, but for the provisions of the Bankruptcy Code, would have accrued), and all other amounts payable by any Borrower to any member of the Lender Group thereunder or in connection therewith, whether now existing or hereafter arising, and whether due or to become due, absolute or contingent, liquidated or unliquidated, determined or undetermined and (ii) any future secured indebtedness incurred by SGI permitted under: (A) the Loan Documents (if in effect at the time), (B) any other agreements then outstanding restricting SGI’s ability to incur additional indebtedness and (C) under Section 4.06(e) of the Indentures, pursuant to which SGI has granted a security interest in the Collateral senior to that granted to the Trustee on behalf of holders of the Secured Notes and has designated such secured indebtedness as “Senior Priority Debt” for purposes hereof.

Senior Priority Debt means (x) Additional Senior Priority Debt and (y) any Indebtedness under the First Lien Credit Agreement.

Senior Priority Debt means: (1) all Cash Flow Obligations; and (2) any Additional Obligations of any Credit Party so long as on or before the date on which the relevant Additional Indebtedness is incurred, such Indebtedness is designated by the Company Representative as “Senior Priority Debt” in the relevant Additional Indebtedness Designation delivered pursuant to Section 7.11(a)(iii). “Senior Priority Documents” shall mean the Cash Flow Documents and any Additional Documents in respect of any Senior Priority Obligations. “Senior Priority Lien” shall mean a Lien granted (a) by a Cash Flow Collateral Document to the Cash Flow Agent or (b) by an Additional Collateral Document to any Additional Agent for the purpose of securing Senior Priority Obligations. “Senior Priority Obligations” shall mean the Cash Flow Obligations and any Additional Obligations constituting Senior Priority Debt. “Senior Priority Recovery” shall have the meaning set forth in Section 5.3. “Senior Priority Representative” shall mean the Senior Priority Agent designated by the Senior Priority Agents to act on behalf of the Senior Priority Agents under this Agreement, acting in such capacity; provided that, at any time the Base Intercreditor Agreement is in effect, the Senior Priority

Senior Priority Debt means any debt for borrowed money of Borrower to which the Obligations hereunder have been subordinated in right of payment by an agreement binding on PFG.

Senior Priority Debt as defined in the Cash Flow Intercreditor Agreement.