Senior/Subordinated definition

Senior/Subordinated. Shifting interest Cut-off Date: The Cut-off Date is June 1, 1999. Distribution Date: The 25th day of each month (or, if such 25th day is not a business day, the business day immediately following) commencing July, 1999.

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Senior/Subordinated. Notes The outstanding principal amount of the 8 1/8% Senior Subordinated Notes due 2008 ("Senior Notes"), including all accrued and unpaid interest thereon through and including the consummation of the Restructuring and all other claims held by holders of the Senior Notes against the Company or its past and present directors, officers, and employees arising out of or related to the Senior Notes or the purchase or sale of any other securities of the Company shall be exchanged for (i) cash or (ii) New Notes, New Common Stock and New Warrants as described below. Cash Option - $33.0 million of the principal ----------- amount of Senior Notes will be exchanged for $10.0 million in cash (i.e., $303 per $1,000 principal amount of Senior Notes); provided that principal amount of Senior Notes eligible for the Cash Option shall be reduced dollar for dollar by the principal amount of Senior Notes that do not tender into the Exchange Offer and the amount of cash allocated to the Cash Option shall be similarly reduced pro rata. For example, if $11 million principal amount of Senior Notes do not tender into the Exchange Offer, only $22 million of principal amount of Senior Notes will be eligible for the Cash Option, each $1,000 of principal amount shall continue to receive $303 and the aggregate amount of cash distributed by the Company shall be $6.666 million. New Notes and New Common Stock Option - $132 ------------------------------------- million principal amount of the Senior Notes will be exchanged for $100.0 million principal amount of new redeemable, convertible subordinated notes (the "New Notes") as described below, 15% of the new common stock of the Company after giving effect to the Restructuring (the "New Common Stock") and warrants to purchase additional New Common Stock representing 10% of all outstanding New Common Stock as of consummation of the Restructuring to be struck at an implied equity value of $155 million. Each Senior Noteholder shall be entitled to elect which option it prefers with respect to all or any portion of its Senior Notes; provided that if either option is over- subscribed, Senior Noteholders that elect the over-subscribed option will share pro rata and receive the balance of their consideration from the option that is not over-subscribed. Features of the New Notes Issuer: Aviation Sales Company Principal Amount: $100,000,000 General Description: New Convertible Senior Subordinated Notes

Senior/Subordinated. LOAN shall mean the loan in the original principal amount of $15,000,000 made by Senior Subordinated Lender to Acquisition Corp. pursuant to the Senior Subordinated Loan Instruments. SENIOR SUBORDINATED LOAN INSTRUMENTS shall mean the Senior Subordinated Note Agreement, Senior Subordinated Note and all other documents and instruments executed by Borrower or Senior Subordinated Lender in connection with the Senior Subordinated Loan. SENIOR SUBORDINATED NOTE shall mean that certain Senior Note Due December 21, 2002 in the aggregate principal amount of $17,243,295 issued by Borrower to Senior Subordinated Lender pursuant to the Senior Subordinated Note Agreement.

Examples of Senior/Subordinated in a sentence

Nothing in this Warrant Agreement shall be deemed to prevent the Warrant Agent from acting as [Senior] [Subordinated] Trustee under the [Senior][Subordinated] Indenture.
The Issuer's obligations with respect to voting under the Senior/Subordinated Intercreditor Agreement are set out in clause 31.6 (Instructions under the Senior/Subordinated Intercreditor Agreement) of the Issuer Deed of Charge.
Each Borrower Secured Creditor (other than the Borrower Security Trustee) agrees that it shall notify the Borrower Security Trustee in writing as soon as practicable thereafter if it takes any Enforcement Action or any Enforcement Action (as such term is defined in the Senior/Subordinated Intercreditor Agreement).
The Certificates will be designated generally as the Senior/Subordinated Pass-Through Certificates, Series ____-__.
Where a STID Proposal gives rise to a Subordinated Lender Consent Matter, the proposed resolution may not be passed without additionally the prior written consent of the Majority Subordinated Creditors or, in certain circumstances, certain ratings confirmations, in each case in accordance with clause 3.3 of the Senior/Subordinated Intercreditor Agreement.
The Board of Directors of the Depositor has duly authorized the formation of a trust (the "Trust") to issue a Series of Certificates with an aggregate initial outstanding principal balance of $______________ to be known as the Senior/Subordinated Pass-Through Certificates, Series ____-__ (the "Certificates").
Prospective investors are advised to read carefully, and should rely solely on, the final prospectus and prospectus supplement (the "Final Prospectus") related to Deutsche Financial Capital Securitization, LLC, Senior/Subordinated Pass-Through Certificates, Series 1997-I (the "DFC 97-I Certificates") in making their investment decisions.
On the date hereof, the Company will issue to the Purchasers, $105,263,157 aggregate Stated Value of Senior-Subordinated Secured Second Lien Notes in the form attached hereto as Exhibit A (the “Notes”) and at the purchase price set forth on Schedule 1.2A, with the original issue discount as described below.
This Note is one of the series of Securities of the Bank issued pursuant to the Indenture and designated as [ ]% [Senior/Subordinated] Securities due [ ] (herein called the “Notes”), limited in aggregate principal amount to U.S.$[ ].
Credit Enhancement: ------------------ Senior/Subordinated: Shifting interest.

More Definitions of Senior/Subordinated

Senior/Subordinated. The Borrower will use its reasonable best efforts to Notes: offer and sell senior subordinated notes of the Borrower (the "SENIOR SUBORDINATED NOTES") yielding aggregate gross proceeds of $225 million, in lieu of borrowing the Bridge Loans (the "SUBORDINATED NOTE OFFERING"). In connection with the foregoing, the Borrower will use its reasonable best efforts to accomplish the following:

Senior/Subordinated. NOTES The subordination provisions contained in the Senior Subordinated Notes and in the other Senior Subordinated Note Documents are enforceable against the respective Credit Parties party thereto and the holders of the Senior Subordinated Notes, and all Obligations and Guaranteed Obligations (as defined in the Subsidiaries Guaranty) are within the definition of "Senior Indebtedness" or "Guarantor Senior Indebtedness", as the case may be, included in such subordination provisions.