Senior Secured Loans definition

Senior Secured Loans means all Senior Secured Loans, collectively.

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Senior Secured Loans shall have the meaning given to such term in the Investment Agreement.

Senior Secured Loans credit facilities which are secured by a first lien on some or all of the applicable issuer’s assets.

Examples of Senior Secured Loans in a sentence

In the event that the Holder has elected a Surrender Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the Holder shall surrender to the Company an aggregate amount of the Senior Secured Loans having a value as of the date of the exercise of this Warrant of $___________________.
Not more than 10% of the Collateral Principal Amount may consist of any Portfolio Investments other than Senior Secured Loans or Second Lien Loans.
The Administrative Agent shall have received evidence that the Senior Secured Loan Documents have been executed and delivered by all Persons stated to be a party thereto in the form then most recently delivered to the Administrative Agent, and the Senior Secured Loans contemplated to be made thereunder on the Closing Date shall have been made.
Not less than 55% of the Collateral Principal Amount may consist of Senior Secured Loans (including first-lien unitranche assets) and cash and Cash Equivalents on deposit in the Account as Principal Proceeds.
Not less than 80% of the Collateral Principal Amount may consist of Senior Secured Loans and cash and Cash Equivalents on deposit in the Principal Collection Account as Principal Proceeds.

More Definitions of Senior Secured Loans

Senior Secured Loans means a Collateral Loan (i) that is not subordinated in right of payment by its terms (including by operation of a payment waterfall in the Related Documents) to indebtedness of the Obligor for borrowed money (other than with respect to liquidation, capitalized leases, other similar obligations, or is a Split Lien Transaction) and the Lien of which is not contractually subordinated to any other secured obligation of the Obligor secured by all or a portion of the collateral securing such Collateral Loan; (ii) is secured by a valid and perfected first priority Lien on, subject to customary exceptions, substantially all of the Obligor’s assets constituting Related Property for the Collateral Loan, subject to any “permitted liens” as defined in the applicable Related Documents for such Collateral Loan or such comparable definition if “permitted liens” is not defined therein, so long as such definition is reasonable and customary; (iii) as of the date such Collateral Loan is initially included in the Collateral, has a Loan-to-Value Ratio not greater than 65% and with respect to which the Obligor Net Leverage Ratio is less than 4.5 to 1.0; and (iv) that is not secured solely or primarily by the common stock or other equity interests of its Obligor or any of its Affiliates.

Senior Secured Loans means senior secured loans that are secured by a first lien or a second lien on some or all of the obligor’s assets, including, without limitation, traditional senior secured loans and any related Revolving Credit Loan or delayed draw loan as well as loans provided pursuant to unitranche credit facilities which are secured by a first lien on some or all of the obligor’s assets.

Senior Secured Loans the loans made pursuant to the Senior Secured Loan Agreement.

Senior Secured Loans means a Loan (or participation therein) that is a senior secured obligation as determined by the Servicer in its reasonable business judgment, provided that:

Senior Secured Loans means “Loans” as defined in the Senior Secured Credit Facilities.

Senior Secured Loans senior secured loans that are secured by a first lien on some or all of the obligor’s assets, including, without limitation, traditional senior secured loans and any related Revolving Credit Loan or delayed draw loan.

Senior Secured Loans as defined in the recitals hereto.