Subordinate Creditors definition

Subordinate Creditors means any Person whose indebtedness owing by Ayr or other Ayr Entities is subordinated to the 2024 Notes pursuant to the Subordination Agreements;
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Subordinate Creditors means, collectively, the Subordinate Lender and the Subordinate Lender's Agent.
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Subordinate Creditors means, collectively, the lenders of the Subordinate Indebtedness party to the Subordinated Debt Documents (each, individually, a “Subordinated Creditor”).
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Examples of Subordinate Creditors in a sentence

  • The Subordinate Creditors agree that, so --------------------------- long as any of the Senior Debt shall remain unpaid, neither of the Subordinate Creditors will commence nor join with any creditor other than the Senior Creditor in commencing any Proceeding referred to in Section 3.A.

  • LRA-NE has requested that the Senior Creditor consent to the sale and purchase transaction with the Subordinate Creditors to be evidenced by the EDP Asset Purchase Agreement.

  • The Borrowers and the Subordinate Creditors agree that ------------- the payment of or in respect of the Subordinated Debt owing or to become owing in the future is and shall be expressly subordinated to the prior payment in full of all Senior Debt to the extent and in the manner hereinafter set forth.

  • As among the Borrowers and all other creditors (other than the Senior Creditor and the Subordinate Creditors), all payments or distributions made to the Senior Creditor to which either of the Subordinate Creditors would otherwise be entitled except for the terms of this Agreement shall be deemed to be a payment by the Borrowers to or on account of Subordinated Debt and not payment with respect to the Senior Debt.

  • The Borrowers and the Subordinate Creditors each will further xxxx their respective books of account in such a manner as shall be effective to give proper notice of the effect of this Agreement and will, in the case of any Subordinated Debt which is not evidenced by any instrument, upon the Senior Creditor's reasonable request, cause such Subordinated Debt to be evidenced by an appropriate instrument or instruments endorsed with the above legend.

  • All proceeds of such insurance shall inure to the Agent, for the benefit of the Lenders, and the Subordinate Creditors shall cooperate in a reasonably manner in effecting the payment of insurance proceeds to the Agent.

  • The Borrowers and the Subordinate Creditors each will, at their respective expense and at any time and, from time to time, promptly execute and deliver all further instruments and documents, and take all further actions that may be necessary or desirable, or that the Senior Creditor may reasonably request, in order to protect any right or interest granted or purported to be granted hereby or to enable the Senior Creditor to exercise and enforce the Senior Creditor's rights and remedies hereunder.

  • The Subordinate Creditors acknowledge that neither of the Subordinate Creditors is a party to the Credit Agreement and does not and shall not have any rights or benefits thereunder.

  • This Agreement is a continuing agreement and shall, (a) remain in full force and effect until the Senior Debt shall have been paid in full, (b) be binding upon the Subordinate Creditors, the Borrowers and their respective successors and assigns and any subsequent holder of Subordinated Debt, and (c) inure to the benefit of and be enforced by the Senior Creditor and the Senior Creditor's successors, transferees and assigns of the Senior Debt.

  • It is expressly understood that this Agreement is intended solely to be for the purposes of defining the rights among the Senior Creditor and the Subordinate Creditors and shall not affect the rights of the Subordinate Creditors against any other Person.


More Definitions of Subordinate Creditors

Subordinate Creditors means (a) the Convertible Debentureholders, and (b) the CTR Lenders in their capacity as Creditors of SRT;
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Subordinate Creditors means [ ] and [ ].7
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Subordinate Creditors means, collectively, The Stxxxx, Xxxxx xnd Mexxxxxx Xrust, the Abxxxx Xamily Trust, Rixxxxx X. Xxxxxxx, and the Jaxxx X. Xxxx Xarital Trust, and "Subordinate Creditor" means any one of them.
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Subordinate Creditors has the meaning set forth in subparagraph 7(j) below;
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Subordinate Creditors. SENIOR CREDITORS:
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Subordinate Creditors means (a) with respect to the Tranche A Lenders, the Tranche B Lenders and the Tranche C Lenders, and (b) with respect to the Tranche B Lenders, the Tranche C Lenders.
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Related to Subordinate Creditors

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • Senior Lender Claims means (a) the principal of all Indebtedness outstanding under one or more of the Senior Lender Documents to the extent not prohibited by the Indenture (as in effect on the date hereof), and (b) all other Obligations not constituting principal of Indebtedness of any Obligor under the Senior Lender Documents, including, without limitation, all claims under the Senior Lender Documents for interest, fees, expense reimbursements, indemnification and other similar claims. Senior Lender Claims shall include all interest accrued or accruing (or which would, absent the commencement of an Insolvency or Liquidation Proceeding, accrue) after the commencement of an Insolvency or Liquidation Proceeding in accordance with and at the rate specified in the Senior Credit Agreement whether or not the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding. To the extent any payment with respect to the Senior Lender Claims (whether by or on behalf of any Obligor, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be fraudulent or preferential in any respect, set aside or required to be paid to a debtor in possession, trustee, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. Notwithstanding anything to the contrary contained in the first sentence of this definition, any principal Indebtedness (including reimbursement obligations for drawn or undrawn letters of credit) incurred under the Senior Credit Agreement shall constitute a "Senior Lender Claim" (whether or not such Indebtedness is at any time determined not to have been permitted to be incurred under the Indenture), to the extent, after giving effect to such incurrence, the aggregate principal amount of Indebtedness outstanding under the Senior Credit Agreement does not exceed $15,000,000 (less any prior permanent reductions in the Revolving Loan Commitment).

  • Junior Creditor means any Defaulting Bank which has not (x) fully cured each and every default on its part under the Loan Documents and (y) unconditionally tendered to the Administrative Agent such Defaulting Bank’s Pro Rata Share of all costs, expenses and disbursements required to be paid or reimbursed pursuant to the terms of the Loan Documents.

  • Subordinated Creditors means all creditors the indebtedness of which is subordinated, in the event of the Winding-Up of DSB, in right of payment to the claims of depositors and other unsubordinated creditors of DSB other than those whose claims rank or is expressed to rank by operation of law or contract pari passu with, or junior to, the claims of the Noteholders. For this purpose indebtedness shall include all liabilities, whether actual or contingent;

  • Subordinate Lender means the person or entity named as such in the first paragraph of this Agreement and any other person or entity who becomes the legal holder of the Subordinate Note after the date of this Agreement.

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • Subordinated Lenders means the holders of Subordinated Debt.

  • Subordinate Debt means indebtedness secured hereby or by any Supplemental Indenture which is by its terms expressly subordinate and inferior hereto both in lien and right of payment.

  • Subordinate Companion Loan A Companion Loan that, to the extent provided in the related Loan Documents and/or the related Co-Lender Agreement, is generally subordinate in right of payment to the related Split Mortgage Loan. The only Subordinate Companion Loans related to the Trust as of the Closing Date are evidenced by the Notes identified in the Loan Combination Table under the column heading “Subordinate Companion Loan(s),” each of which Notes evidences a separate Subordinate Companion Loan.

  • Second Lien Lenders means the “Lenders” under and as defined in the Second Lien Credit Agreement.

  • Subordinated Claims means the aggregate amount of all claims admitted in the winding up or dissolution of the Issuer which rank, or are expressed to rank, junior to claims in respect of the Senior Non-Preferred Notes or other Senior Non-Preferred Claims, including (without limitation) claims of creditors in respect of the Subordinated Notes, and the obligations of the Issuer which constitute, or would but for any applicable limitation on the amount of such capital constitute, Tier 2 Capital, Additional Tier 1 Capital (including, without limitation, the Issuer’s permanent interest bearing shares (if any)) or CET1 Capital (including the Issuer’s core capital deferred shares (if any)); and

  • Senior Lender means each holder of a Senior Note.

  • Senior Lenders means each of the lenders from time to time under the Senior Credit Agreement.

  • Subordinated Claim means a Claim of the kind described in sections 726(a)(3) or 726(a)(4) of the Bankruptcy Code and/or Claims subordinated under sections 510(b) or 510(c) of the Bankruptcy Code.

  • Second Lien Claimholders means, at any relevant time, the holders of Second Lien Obligations at that time, including the Second Lien Lenders and the agents under the Second Lien Loan Documents.

  • Subordinated Lender means each Seller, in its capacity as subordinated lender pursuant to the relevant Subordinated Loan Agreement.

  • Subordinated Creditor means any creditor of Tenant which is a party to a Subordination Agreement in favor of Landlord.

  • First Lien Claims means, collectively, Claims against the Debtors arising under the Prepetition Term Loan Agreement.

  • subordinate court means a court of St Helena subordinate to the Supreme Court that has been established by Ordinance, and includes the exercise of any power or jurisdiction in relation to an inquiry conferred on a Coroner by the Coroners Ordinance or any Ordinance amending or replacing that Ordinance;

  • Subordinate Loan Documents means the Subordinate Note, the Subordinate Mortgage, and all other documents at any time evidencing, securing, guaranteeing, or otherwise delivered in connection with the Subordinate Indebtedness.

  • Senior Obligations is defined in Section 5.1 of this Agreement.

  • Subordinate Percentage As of any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, any Loan Group, 100% minus the related Senior Percentage as of such Distribution Date.

  • Requisite Creditors of any Class shall mean each of (x) with respect to the Credit Document Obligations, the Required Banks and (y) with respect to the Other Obligations, the holders of at least a majority of all obligations outstanding from time to time under the Interest Rate Protection Agreements or Other Hedging Agreements.

  • Senior Class Debt Parties has the meaning assigned to such term in Section 8.09.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.