Senior Secured Debt definition

Senior Secured Debt means Senior Debt that is secured by Liens on any property or assets of the Borrower or any of its Subsidiaries.

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Senior Secured Debt means, at any time, Consolidated Total Funded Debt that constitutes Senior Indebtedness secured by a Lien on any Collateral.

Senior Secured Debt means, for the Company and its Subsidiaries on a consolidated basis as of any date, the aggregate amount of secured Indebtedness plus Attributable Debt of such Persons as of such date (including, without limitation, Indebtedness under any Existing ABS Facility and Indebtedness under any additional ABS Facilities entered into in accordance with Section 7.1(h) hereof).

Examples of Senior Secured Debt in a sentence

• The failure of any Senior Secured Debt Holder to make payments on any date required hereunder shall not relieve any other Senior Secured Debt Holder of its corresponding obligation to do so on such date, and no Senior Secured Debt Holder shall be responsible for the failure of any other Senior Secured Debt Holder to do so.

• For purposes of this Section 2.4(c), Replacement Debt shall be deemed “incurred” upon the execution of the Senior Secured Debt Instruments in respect thereof (irrespective of the satisfaction or waiver of the conditions precedent thereunder to the initial disbursement thereof or initial issuance of letters of credit thereunder).

• The Borrower covenants and agrees that until the Discharge Date, it shall perform or observe or cause to be performed or observed (as applicable) the obligations set forth in this Article 4 in favor of each Senior Secured Debt Holder.

• The obligations of the Senior Secured Debt Holders to make payments pursuant to this Section 8.10(b) are several and not joint and shall survive the payment in full of the Senior Secured Obligations and the termination of this Agreement.

• Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Senior Secured Debt Holder that is a “Defaulting Lender” or similarly designated under any Senior Secured Debt Instrument shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.

More Definitions of Senior Secured Debt

Senior Secured Debt means, as of any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a Lien on any assets of Holdings or any Restricted Subsidiary.

Senior Secured Debt means all Indebtedness of Parent and its Restricted Subsidiaries included in the calculation of Total Indebtedness (including the outstanding principal amount of the Loans) that is secured and that is not expressly subordinated by its terms to the Obligations.

Senior Secured Debt means, as of any date of determination, for the Borrower and its Subsidiaries on a consolidated basis determined in accordance with GAAP, the remainder of (a) Consolidated Funded Indebtedness as of such date of determination which is secured by a Lien minus (b) to the extent included in the foregoing clause (a), Subordinated Debt as of such date of determination which is secured by a Lien.

Senior Secured Debt means (i) the indebtedness, obligations and other liabilities (contingent or otherwise) of the Company under the Credit Agreement, including, without limitation, all fees, costs, expenses and other amounts accrued or due on or in connection with such indebtedness, obligations and other liabilities and (ii) any and all deferrals, renewals, extensions, refinancings, replacements and refundings of, or amendments, modifications or supplements to any indebtedness, obligation or liability of the kind described in clause (i).

Senior Secured Debt means, as at any date, the aggregate amount ------------------- of Indebtedness of the Borrower and its Subsidiaries at such date (determined on a consolidated basis without duplication in accordance with GAAP) that is not Subordinated Indebtedness and is secured by the Property of the Borrower and/or its Subsidiaries.

Senior Secured Debt at any date shall mean (i) the aggregate principal amount of Consolidated Debt of the Borrower and the Subsidiaries outstanding at such date that consists of, without duplication, (A) Revolving Facility Credit Exposure, (B) Indebtedness that in each case is then secured by a Lien (other than Liens securing the Senior Secured Second Lien Notes and other Liens that are subordinated to the Liens securing the Obligations (it being understood that such Liens may be senior in priority to, or pari passu with, or junior in priority to, Liens securing Indebtedness other than the Obligations) and (C) Indebtedness of a Subsidiary that is not a Loan Party, less (ii) without duplication, the sum of (x) Unrestricted Cash and Permitted Investments of the Borrower and the Subsidiaries on such date plus (y) prior to a Borrower Qualified IPO, the lesser of (A) the Unrestricted Cash and Permitted Investments that would appear on an unconsolidated balance sheet of Holdings on such date and (B) 25% of EBITDA for the relevant four quarter period used in calculating the Total Net Secured Leverage Ratio.

Senior Secured Debt means, at any time, Consolidated Total Debt at such time minus any unsecured Indebtedness included therein.