Examples of Senior Secured Bank Debt in a sentence

Notwithstanding the foregoing, Maker shall not be required to make, and shall not make, any payment on this Note to the extent that such payment is prohibited by the terms of any Senior Secured Bank Debt, as defined herein (a “Payment Prohibition Period”).
By the acceptance of this Note, Xxxxx understands, acknowledges and agrees that, from time to time, it shall enter into such intercreditor and/or subordination agreements as may be requested by the holders of Senior Secured Bank Debt in order to confirm the subordination of this Note to such Senior Secured Bank Debt as set forth herein.
Xxxxxx or Xxxxxxx Xxxxxxxxx under the Purchase Agreement is due to a prohibition imposed by the terms of any Senior Secured Bank Debt as defined in that agreement, the cure period for such breach shall be extended to ninety (90) days from written notice to Licensee.
Holder acknowledges and agrees that the security interest granted hereby shall, at all times that any amount remains outstanding under this Note, be junior and subordinate to security interests granted by the Maker to its lender under the Senior Secured Bank Debt, whether now existing or hereafter created, and to the Maker’s obligations under any Capital Lease or Purchase Money Obligations.
The Escrow Property shall be held by the Escrow Agent in accordance with the terms of the Escrow Agreement of even date herewith (the “Escrow Agreement”), by and among CHC, CCG, the Escrow Agent and Bank of America, N.A., as agent under the Senior Secured Bank Debt.

More Definitions of Senior Secured Bank Debt

Senior Secured Bank Debt has the meaning assigned to such term in the Collateral and Intercreditor Agreement.

Senior Secured Bank Debt. An assignment of or participation in all or a portion of a secured senior term loan to a Borrower, which loan (a) is rated B- or better by at least two (2) Rating Agencies, (b) is senior or pari passu with other secured obligations of such Borrower and (c) is secured by (i) 100% of the Equity Interest of each existing and subsequently acquired or organized direct or indirect domestic Subsidiary of the Borrower and (ii) substantially all tangible and intangible assets (including, but not limited to, inventory, accounts receivable, plant, machinery, equipment, fixtures, Commercial Real Estate, leasehold interests, intellectual property, contracts, license rights and other general intangibles and investment property) of the Borrower. Each Senior Secured Bank Debt is subject to such additional underwriting criteria and other terms, conditions and requirements as the Purchaser may require in its discretion.

Senior Secured Bank Debt means an assignment of or participation in all or a portion of a secured senior term loan to a Obligor, which loan (a) is rated B- or better by at least two (2) Rating Agencies, (b) is senior or pari passu with other secured obligations of such Obligor and (c) is secured by (i) 100% of the Equity Interest of each existing and subsequently acquired or organized direct or indirect Domestic Subsidiary of the Obligor and (ii) substantially all tangible and intangible assets (including, but not limited to, inventory, accounts receivable, plant, machinery, equipment, fixtures, Commercial Real Estate, leasehold interests, intellectual property, contracts, license rights and other general intangibles and investment property) of the Obligor. Each Senior Secured Bank Debt is subject to such additional underwriting criteria and other terms, conditions and requirements as the Administrative Agent may require in its discretion.

Senior Secured Bank Debt means the Debt under the Senior Secured Credit Agreement.

Senior Secured Bank Debt at any date shall mean (i) the aggregate principal amount of Consolidated Debt of the Borrowers and their Subsidiaries outstanding at such date that consists of, without duplication, (A) Term Loans or Revolving Facility Credit Exposure and (B) Indebtedness secured by a Lien (other than any Indebtedness of a Subsidiary that is not a Loan Party secured by a Lien on assets of a Subsidiary that is not a Loan Party) under Section 6.02(a), (c), (i), (j), (u) or (cc) (in each case of (A) and (B), other than letters of credit to the extent undrawn and not supporting Indebtedness of the type included in Consolidated Debt), less (ii) without duplication, the Unrestricted Cash and Permitted Investments of the Borrowers and their Subsidiaries on such date.

Senior Secured Bank Debt at any date shall mean (i) the aggregate principal amount of Consolidated Debt of the Borrowers and their Subsidiaries outstanding at such date that consists of, without duplication, (A) Term Loans or Revolving Facility Credit Exposure and (B) Indebtedness that in each case is then secured by a first priority Lien on assets of the Borrowers and their Subsidiaries (other than (x) any Indebtedness of a Subsidiary that is not a Loan Party secured by a Lien on assets of a Subsidiary that is not a Loan Party and (y) Indebtedness secured by assets held in defeasance or a similar trust or arrangement for the benefit of such Indebtedness) (in each case of (A) and (B), other than letters of credit to the extent undrawn and not supporting Indebtedness of the type included in Consolidated Debt), less (ii) without duplication, the Unrestricted Cash and Permitted Investments of the Borrowers and their Subsidiaries on such date.

Senior Secured Bank Debt definition

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