Senior Subordination Agreement definition

Senior Subordination Agreement means that certain Subordination Agreement dated as of the date hereof, among Agent and Lenders (as senior lenders), Senior Subordinated Creditor (as junior lender) and the Credit Parties, in form and substance reasonably satisfactory to Agent, as the same may from time to time be amended, restated or otherwise modified.

Senior Subordination Agreement means the Subordination Agreement, dated as of the Original Closing Date, between the Administrative Agent and the holders of the Senior Subordinated Notes, and acknowledged and agreed to by the Loan Parties, as amended by that certain Amendment No. 1 to Subordination Agreement, dated as of August 6, 2010 and as amended by that certain Amendment No. 2 to Subordination Agreement, dated as November 9, 2011.

Senior Subordination Agreement means the Subordination Agreement dated as of the date hereof among the Purchasers, the Company, and the Senior Lender, or any such agreement with a Senior Lender in any refinancing permitted pursuant to Section 7.15.

Examples of Senior Subordination Agreement in a sentence

• Subject to the terms of the Senior Subordination Agreement, if any Event of Default shall occur and be continuing, each and every Holder may exercise any right or remedy it has at law, in equity or under this Agreement or any Other Agreement.

• SUBORDINATION Notwithstanding any provision in this Agreement to the contrary, the Indebtedness evidenced by the Senior Subordinated Notes shall be subordinate in right of payment to all regularly scheduled payments of principal and interest with respect to Senior Debt, and Purchaser's rights and remedies hereunder shall be subordinate to the rights and remedies of the Senior Lender, in accordance with the terms of the Senior Subordination Agreement.

• No Company shall create, assume or suffer to exist any Lien upon any of its property or assets, whether now owned or hereafter acquired; provided that this Section shall not apply to Permitted Liens and Liens securing the Senior Subordinated Debt so long as such Liens are in compliance with the terms of the Senior Subordination Agreement.

• Pursuant to the Senior Subordination Agreement, the Subordinated Creditors agree that all Subordinated Debt is subordinate in right of payment to the Senior Liabilities and payment of any amount of Subordinated Debt (except in the case of a Permitted Payment (as defined in Appendix 2 (Glossary of Defined Terms) for the purposes of the Senior Facility Agreement) is conditional upon the Subordinated Debtors having irrevocably paid in full all of the Senior Liabilities.

• Except for the Senior Subordination Agreement, Borrowers shall not enter into any agreement that restricts prepayments under this Agreement, limits Borrowers' ability to provide the Collateral required hereunder, or otherwise restricts in any material respect Borrowers' ability to freely perform under the Loan Documents (other than agreements with prohibits rendered not effective pursuant to the Uniform Commercial Code or any other applicable Law (including Debtor Relief Laws) or principles of equity).

More Definitions of Senior Subordination Agreement

Senior Subordination Agreement means a subordination agreement with a Senior Lender in form and substance approved and executed by Collateral Agent and Lenders, pursuant to which Collateral Agent’s and each Lender’s rights are made subordinate to the rights of the Senior Lender in certain respects. Without limiting in any respect Collateral Agent’s and each Lender’s discretion in approving other terms and conditions of a Senior Subordination Agreement, Collateral Agent and Lenders shall be under no obligation to consider such an agreement if it (i) permits Senior Debt exceeding 110% of the principal debt committed by the Senior Lender, (ii) imposes payment blockage or a remedies standstill without written notice to Lenders, (iii) imposes payment blockage for more than one hundred eighty (180) days on account of defaults other than monetary defaults, (iv) imposes a remedies standstill period that extends for more than one hundred eighty (180) days or that impairs Lenders’ ability to charge the Default Rate or to obtain equitable relief for non-monetary breaches by Borrowers, (v) requires the release of Collateral Agent’s security interest in consensual dispositions of Borrower’s assets, (vi) permits the amendment of the senior loan documents without Collateral Agent’s and each Lender’s consent in any way that would make the documents less advantageous to Borrowers in any material respect, (vii) encumbers or restricts remedies regarding the key man life insurance on Xxxx Daily or the Equity Interests of i3 Verticals that are required to secure the Obligations, or (viii) materially impairs the ordinary rights that Collateral Agent and Lenders would have in a Borrower’s bankruptcy case.

Senior Subordination Agreement means that certain Subordination Agreement, dated as of the Closing Date, between Administrative Agent, Senior Credit Agreement Agent and the Credit Parties.

Senior Subordination Agreement means that certain Subordination and Intercreditor Agreement dated as of July 17, 2012, by and between the Purchaser and the Senior Lender, as the same may be amended, modified, supplemented or restated from time to time in accordance with the terms hereof.

Senior Subordination Agreement. This term is defined in Section 11.1 of the Note Agreement.

Senior Subordination Agreement means the subordination agreement dated as of the Original Closing Date between the Senior Administrative Agent, the Senior Collateral Agent, the Agent, the Borrower and each of the Restricted Subsidiaries, as amended, supplemented, modified or replaced from time to time. “ Share Based Compensation ” means compensation paid by the Borrower to the directors, officers, full - time employees and service providers of the Borrower and the Borrower’s Subsidiaries and Affiliates in the form of common shares pursuant to the Share Option Plan, the Restricted Share Grant Plan, the PB Plan or the Deferred Compensation Plan. 30135002.5

Senior Subordination Agreement means that certain subordination agreement, dated as of the date hereof, by and between PFG and Senior Lender.

Senior Subordination Agreement means the Subordination Agreement dated the Closing Date among the Agent, the Senior Note Purchaser and the Note Purchaser and acknowledged by the Related Parties.