Senior Secured Liabilities definition
Examples of Senior Secured Liabilities in a sentence
Each Guarantor will file all claims against the Borrower or any Subsidiary of the Borrower or any Guarantor in any case under the Bankruptcy Law and in each other insolvency, reorganization, receivership, dissolution or liquidation proceeding in which the filing of claims is required or permitted by law upon any of the Subordinated Liabilities and will assign to the holders of Senior Secured Liabilities all rights of such Guarantor thereunder.
Each of the Parties agrees that the Transaction Security shall rank and secure the Super Senior Liabilities and the Senior Secured Liabilities pari passu and without any preference between them.
The holders of Senior Secured Liabilities shall be entitled to receive payment of all amounts due or to become due on or in respect of the Senior Secured Liabilities (including all Post-Petition Interest and Expense Claims), in full and in cash, before any Guarantor is entitled to receive any payment or distribution of any kind or character, whether in cash, property or securities or otherwise, on account of any of the Subordinated Liabilities.
If any Guarantor does not file any such claim at least 30 days prior to any applicable claims bar date, each holder of Senior Secured Liabilities is hereby authorized (but shall not be obligated), as attorney-in-fact for such Guarantor with full power of substitution, to file such claim or proof thereof in the name of such Guarantor.
The Senior Secured Liabilities are, and any Indebtedness incurred to refinance the Senior Secured Notes is permitted under the Bank Credit Facility to be and shall be, equally and ratably secured by all Collateral under the Pledge Agreement.
The Additional Senior Secured Notes are Additional Senior Secured Liabilities owed to the Additional Senior Secured Creditors.
None of the Primary Creditors shall oppose or seek to challenge (or support directly or indirectly any person in opposing or seeking to challenge) any claim by any Senior Secured Agent or Senior Secured Creditor for allowance in any US Insolvency or Liquidation Proceeding of Senior Secured Liabilities of Post-Petition Interest under Section 506(b) of the US Bankruptcy Code or otherwise.
The subordination provisions in this Deed constitute a continuing subordination and benefit the ultimate balance of the Senior Secured Liabilities regardless of any intermediate payment or discharge of the Senior Secured Liabilities in whole or in part.
The following undertakings are given by each Ormat Equity Party (except as otherwise expressly provided in this Clause 10) with respect to itself to the Offshore Security Agent for the benefit of each Senior Secured Party and shall remain in full force until the Senior Secured Liabilities Discharge Date.
The Borrower and Starwood REIT shall not, and shall not permit any Restricted Subsidiary to, permit or consent to any Indebtedness becoming an Obligation secured by the Lien of the Pledge Agreement except for Credit Facility Liabilities, the Senior Secured Liabilities, Eligible Hedging Liabilities or the Senior Secured Notes or Affiliate Guaranty, the ITT Notes and any refinancings thereof.