Senior Subordinated Loan has the meaning given to that term under the Servicing Agreement;

Senior Subordinated Loan. Any Loan (other than a Senior Secured Loan) that is subordinated to only a Senior Secured Loan and which is documented in a form that is commercially reasonable and consistent with the Credit and Collection Policy.

Senior Subordinated Loan. Any Term Loan that (i) has a Loan-to-Value not greater than (a) 75% where the Loan is not a Material Mortgage Loan or the Related Property is not primarily real estate, and (b) 85% where the Loan is a Material Mortgage Loan or the Related Property is primarily real estate, and (ii) contains terms which, upon the occurrence of an event of default under the Loan Documents or in the case of any liquidation or foreclosure on the Related Property, provide that the Borrower’s portion of such Loan would be paid only after the other lender party to such Loan (including any lender party making any Senior Secured ABL, Senior Secured Loan, Stretch Senior Secured Loan or Second Lien Loan whose right to payment is contractually senior to the Borrower) is paid in full.

Examples of Senior Subordinated Loan in a sentence

Without prejudice to the survival of any other obligations of the Loan Parties hereunder and under the other Senior Subordinated Loan Documents, the obligations of the Loan Parties under this Section 6 shall survive the termination of the Senior Subordinated Loan Documents and the other Senior Subordinated Loan Documents and the payment of the Obligations.
The Class A Cumulative Preferred Units outstanding immediately prior to the Merger were exchanged for Class A Cumulative Preferred Units created pursuant to the Unit Designation attached as Exhibit C hereto (the “Class A Preferred Unit Designation”) and Debt Securities under the Senior Subordinated Loan Agreement pursuant to Section 2.3(d) of the Merger Agreement.
A copy of such Article of the Senior Subordinated Loan Agreement will be furnished by the issuer to the holder hereof upon written request therefor by holder.
A copy of such Article of the Amended and Restated Senior Subordinated Loan Agreement will be furnished by the issuer to the holder hereof upon written request therefor by holder.
This promissory note is the “Senior Subordinated Note” referred to in, and Lender is entitled to the benefits of, that certain Amended and Restated Senior Subordinated Loan Agreement of even date herewith (the “Loan Agreement”) between the Loan Parties and Lenders.

More Definitions of Senior Subordinated Loan

Senior Subordinated Loan. Any Term Loan that (i) may be secured by a combination of senior and/or junior Liens on substantially all of the Obligor’s assets constituting Related Property for the Loan, (ii) has a Loan-to-Value of less than (a) 75% where the Loan is not a Material Mortgage Loan or the Related Property is not primarily real estate, and (b) 90% where the Loan is a Material Mortgage Loan or the Related Property is primarily real estate, (iii) contains terms which, upon the occurrence of certain events of default under the senior loan documents between another lender and the Obligor or in the case of any liquidation or foreclosure on any Related Property, provide that the Seller’s portion of such Loan would be paid only after the other lender party to such related senior loan documents (including any lender party making any Senior Secured ABL Loan, Senior Secured Term Loan, Stretch Senior Secured Loan or Senior B-Note Loan whose right to payment is contractually senior to the Seller) is paid in full, and (iv) is substantially in the form of the “Senior Subordinated Loan” previously delivered by the Originator to the Administrative Agent in connection with the CapitalSource Funding I Transaction or such other form as shall be adopted by the Originator and approved in writing by the Administrative Agent at least five days prior to such Loan becoming part of the Collateral hereunder.

Senior Subordinated Loan. Any Type of Loan other than a Senior Secured Loan and that is subordinated to only a Senior Secured Loan. Servicer: CapitalSource Finance, and each successor (in the same capacity) appointed as Successor Servicer pursuant to Section 6.16(a).

Senior Subordinated Loan means the Indebtedness pursuant to the Senior Subordinated Loan Agreement, dated as of September 8, 2006, among the Company and the lenders that are party thereto.

Senior Subordinated Loan means the extension of credit by a Senior Subordinated Lender to a Borrower under Article II.

Senior Subordinated Loan set forth in Section 1.1 of the Sale and Servicing Agreement is hereby deleted in its entirety.

Senior Subordinated Loan means the loan in the original principal amount of $15,000,000 made by Senior Subordinated Lender to GMH pursuant to the Senior Subordinated Loan Instruments.