Senior Revolver definition
Examples of Senior Revolver in a sentence
Notwithstanding the foregoing, the failure of the Borrowers to comply with such ratios shall not effect the validity or enforceability of the Senior Debt Subordination Agreement with respect to such increased amount advanced by the Senior Revolver Lender, and such increased amount shall be treated as "Senior Debt" (under and as defined in the Senior Debt Subordination Agreement).
The Borrowers shall apply the proceeds of the investment as follows, and for no other purpose or purposes: (i) toward expenses relating to the closing of the investment, and (ii) toward paying down the Senior Revolver.
The revolving credit facility shall be made available, in the Pre-Delivery Period in two facilities; the Junior Revolver and the Senior Revolver and in the Post-Delivery Period the Revolving Credit shall be capable of being drawn, up to the Maximum Revolver Facility Amount on the dates described in Clause 4.2(a).
After giving effect to the transactions to occur on the Substantial Consummation Date as provided for in the Chapter 11 Plan, including the incurrence of all Indebtedness and obligations being incurred in connection herewith and therewith (including without limitation the Loans and the New Senior Revolver), each Loan Party will be and will continue to be Solvent as of the Substantial Consummation Date and the Closing Date.
During the Senior Revolver Availability Period, within such limit and subject to the other terms and conditions of this Agreement, the Borrower may borrow under this Section 3.2(b), prepay under Section 5.3 and Section 3.2(d) of the Depositary Agreement, and reborrow under this Section 3.2(b).