Senior Unsecured Loan definition

Senior Unsecured Loan. Any assignment of or Participation Interest in or other interest in an Unsecured Loan that is not subordinated to any other unsecured indebtedness of the Obligor (other than with respect to liquidation, trade claims, capitalized leases or similar obligations).

Senior Unsecured Loan means a Collateral Debt Obligation that:

Senior Unsecured Loan. Any Assignment of or Participation in or other interest in a loan that is not subordinated in right of payment and is not a Senior Secured Loan.

Examples of Senior Unsecured Loan in a sentence

• Any Financial Indebtedness incurred under or in connection with the Senior Unsecured Loan Agreement is declared to be due and payable prior to its specified maturity as a result of an event of default (however described).

• A Material Event of Default occurs or a Senior Lender takes any Enforcement Actions with respect to obligations in connection with the Senior Unsecured Loan Agreement.

• The Issuer shall not agree to any increase of the applicable margin, which is added to the relevant interest base to determine the interest under Senior Unsecured Loans, or the fixed interest rate for any Senior Unsecured Loan, unless a corresponding increase of the Interest also is made with respect to the Bonds.

• The Issuer shall further promptly provide copies to the Agent and of any documentation evidencing any waiver or decisions taken by the Senior Lenders under the Senior Unsecured Loan Agreement to the extent the Issuer reasonably believes such waiver or decision may have any effects for the application of the Terms and Conditions.

• For purposes of determining the S&P Recovery Rate of a Lease Financing Transaction, if a Lease Financing Transaction is secured solely by real property, it shall be treated as an S&P Senior Unsecured Loan and (d) has an Assigned Moody’s Rating.

More Definitions of Senior Unsecured Loan

Senior Unsecured Loan means an obligation that:

Senior Unsecured Loan. Any unsecured Loan that is not subordinated to any other unsecured indebtedness of the borrower.

Senior Unsecured Loan. A senior unsecured Loan that is not (and by its terms is not permitted to become) subordinate in right of payment to any other Indebtedness for borrowed money incurred by the related Obligor (other than with respect to (i) trade claims, capitalized leases or similar obligations or (ii) any structural subordination resulting from such other Indebtedness for borrowed money being secured by any assets of the related Obligor pursuant to a prior claim to the proceeds of such assets upon liquidation).

Senior Unsecured Loan means that certain Credit and Guaranty Agreement dated as of March 3, 2011 by and among the Issuer, Euramax Holdings, Inc., certain Subsidiaries of the Issuer, and the lenders party thereto from time to time for $125.0 million in aggregate principal amount of borrowings and any related notes, guarantees, instruments and agreements executed in connection therewith, and in each case as further amended, restated, adjusted, waived, renewed, modified, refunded, replaced, restated, restructured, increased, supplemented or refinanced in whole or in part from time to time, regardless of whether such amendment, restatement, adjustment, waiver, modification, renewal, refunding, replacement, restatement, restructuring, increase, supplement or refinancing is with the same financial institutions (whether as agents or lenders) or otherwise and any one or more indentures, note purchase agreements, credit facilities, commercial paper facilities, or other financing arrangements or agreements that replace, refund or refinance all or any part of the loans, notes, or other commitments thereunder, including any such replacement, refunding or refinancing facility or indenture or other financing arrangements or agreements that increases the amount borrowable or issuable thereunder or alters the maturity thereof.

Senior Unsecured Loan means a Loan (which is not a Senior Secured Loan) that is senior to any unsecured, subordinated obligation of an Obligor.

Senior Unsecured Loan means a Portfolio Investment that is a loan obligation senior to any unsecured, subordinated obligation of the Obligor as determined by the Collateral Manager in its reasonable business judgement, which is not secured by (i) assets of the Obligor or guarantor if and to the extent a pledge of assets is permissible under applicable law or (ii) by 100 per cent. of the equity interests in the stock of an entity owning such assets.

Senior Unsecured Loan means a Collateral Debt Obligation that is (as determined by the Portfolio Manager in its reasonable business judgement):