Senior Secured Discharge Date definition

Senior Secured Discharge Date means the first date on which all Senior Secured Liabilities have been fully and finally discharged to the satisfaction of each Senior Secured Notes Representative (in the case of the Senior Secured Notes Liabilities), the Senior Agent (in the case of the Senior Lender Liabilities), each Pari Passu Debt Representative (in the case of the Pari Passu Debt Liabilities) and each Hedge Counterparty (in the case of its Hedging Liabilities) (each acting reasonably), whether or not as a result of an enforcement, and the Senior Secured Creditors are under no further obligation to provide financial accommodation to any of the Debtors under any of the Senior Finance Documents, Hedging Agreements, Pari Passu Debt Documents or Senior Secured Notes Finance Documents (as applicable).
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Senior Secured Discharge Date means the first date on which the Senior Discharge Date and the Senior Secured Notes Discharge Date has occurred.
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Senior Secured Discharge Date means the first date on which all the Senior Secured Obligations have been discharged in cash or cash collateralized in accordance with the Senior Secured Documents whether or not as a result of an Enforcement, and the Senior Secured Creditors are under no further obligation to provide financial accommodation to any Debtors under any of the Senior Secured Documents; provided, however that a Senior Secured Discharge Date shall be deemed not to have occurred if any Senior Secured Obligations are Refinanced with Senior Secured Obligations.
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Examples of Senior Secured Discharge Date in a sentence

  • Holdco Subject to Clause 7.11 (Permitted Enforcement: Holdco), a Holding Company Creditor shall not be entitled to take any Enforcement Action in respect of any Holdco Liabilities against any member of the Group at any time prior to the Senior Secured Discharge Date unless otherwise directed by the Security Agent.

  • Intra-Group Lenders Subject to Clause 8.7 (Permitted Enforcement: Intra-Group Lenders), none of the Intra-Group Lenders shall be entitled to take any Enforcement Action in respect of any of the Intra-Group Liabilities at any time prior to the Senior Secured Discharge Date unless otherwise directed by the Security Agent.

  • Immediately after the Senior Secured Discharge Date, the Debtors will (to the extent permitted by law) fully indemnify each Holding Company Creditor upon demand for the amount of any payment or distribution turned over to the Security Agent under Clause 10.2 (Turnover by the Creditors).


More Definitions of Senior Secured Discharge Date

Senior Secured Discharge Date means the Senior Secured Notes Discharge Date.
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Senior Secured Discharge Date means the first date on which all of the following have occurred, whether or not as a result of enforcement: (i) the Credit Facility Discharge Date; (ii) each Hedge Counterparty being satisfied that the Hedging Liabilities in respect of it have been fully and finally discharged; (iii) the Senior Secured Notes Discharge Date; (iv) the Pari Passu Debt Discharge Date; and (v) the Senior Secured Creditors being under no further obligation to provide financial accommodation to any of the Debtors under any of the Senior Secured Finance Documents.
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Senior Secured Discharge Date means the latest of:
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Related to Senior Secured Discharge Date

  • Senior Discharge Date means the first date on which all of the Senior Debt (other than contingent indemnification obligations) has been paid indefeasibly in full in cash and all commitments of Senior Lenders under the Senior Loan Documents have been terminated.

  • Final Discharge Date means the date when all principal, interest and any other costs or outstanding amounts under the Senior Finance Documents have been irrevocably discharged in full and all commitments of the Secured Parties under the Senior Finance Documents have expired, been cancelled or terminated.

  • Senior Secured Loan means any interest in a loan, including any assignment of or participation in or other interest in a loan, that (i) is not (and is not expressly permitted by its terms to become) subordinate in right of payment to any obligation of the obligor in any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings (other than pursuant to a Permitted Working Capital Lien and customary waterfall provisions contained in the applicable loan agreement), (ii) is secured by a pledge of collateral, which security interest is (a) validly perfected and first priority under Applicable Law (subject to liens permitted under the applicable credit agreement that are reasonable for similar loans, and liens accorded priority by law in favor of any Governmental Authority) or (b)(1) validly perfected and second priority in the accounts, documents, instruments, chattel paper, letter-of-credit rights, supporting obligations, deposit accounts, investments accounts and any other assets securing any Working Capital Revolver under Applicable Law and proceeds of any of the foregoing (a first priority lien on such assets a "Permitted Working Capital Lien") and (2) validly perfected and first priority (subject to liens for taxes or regulatory charges and any other liens permitted under the related underlying instruments that are reasonable and customary for similar loans) in all other collateral under Applicable Law, and (iii) the Portfolio Manager determines in good faith that the value of the collateral for such loan (including based on enterprise value) on or about the time of acquisition equals or exceeds the outstanding principal balance of the loan plus the aggregate outstanding balances of all other loans of equal or higher seniority secured by a first priority Lien over the same collateral. For the avoidance of doubt, debtor-in-possession loans and FLLO Loans shall constitute Senior Secured Loans.

  • Senior Secured Notes means the $1,875 million aggregate principal amount of 7.375% Senior Secured Notes due 2023 of the Borrower including, as the same may be amended, supplemented, waived or otherwise modified from time to time, including any senior secured exchange notes issued in lieu thereof.

  • Senior Secured Notes Trustee means U.S. Bank Trust Company, National Association, as successor in interest to U.S. Bank National Association, as trustee under the Senior Secured Notes Indenture.

  • Senior Secured Leverage Ratio means, as of the date of determination thereof, the ratio of (a) Consolidated Senior Secured Debt as of such date to (b) Consolidated EBITDA for the period of four (4) fiscal quarters then most recently ended.