Subordinated debt account definition

Subordinated debt account means a debt having a claim against the issuer’s assets that is lower in ranking, or junior to, other obligations, and is paid after claims to holders of senior securities are satisfied. “Superintendent” means the superintendent of credit unions for the credit union division of the Iowa
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Subordinated debt account has the meaning set forth in the Master Bond Resolution.
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Subordinated debt account means the Account so designated established and created under Section 2.2(a) of the Intercreditor Agreement.
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Examples of Subordinated debt account in a sentence

  • On any date that such amounts are due and payable and have been requisitioned in accordance with SECTION 3.3(B)(VIII) (Withdrawals from the Revenue Fund), the Collateral Agent shall withdraw the monies on deposit in the Subordinated Debt Account and remit such monies to the Persons entitled thereto for the payment of such principal, interest and other amounts (including fees).

  • The Disbursement Agent shall apply the amounts in the Subordinated Debt Account to the payment of principal of and interest on Subordinated Debt (other than Partner Subordinated Debt) in accordance with the applicable Subordinated Loan Agreement.

  • After the first Scheduled Payment Date on the Bonds, monies on deposit in the Subordinated Debt Account shall be used for the payment of principal, interest and other amounts (including fees) due and payable on any Third Party Subordinated Debt.

  • The Subordinated Debt Account shall be funded by monies transferred from the Revenue Account as and when specified in Section 3.10(a)(6).

  • If, on the Funding Date immediately following the Funding Date in which such monies were deposited into the Subordinated Debt Account, such monies remain on deposit in the Subordinated Debt Account, such monies shall be withdrawn and transferred to the Revenue Fund and shall be used as set forth herein.


More Definitions of Subordinated debt account

Subordinated debt account means the Subordinated Debt Account established pursuant to Section 3.1.
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Subordinated debt account means the Account of such name established under the Depositary Agreement and held under account number 6800 0603 12.
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Subordinated debt account means the sub-account of the Debt Service Fund established by the Collateral Agent pursuant to SECTION 2.2 (Establishment of Funds and Sub-accounts) of the Collateral Agency Agreement.
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Subordinated debt account. (vii) "Subordinated Fee Account"; (viii) "Distribution Account"; (ix) "Completion Account"; and (x) "Loss Proceeds Account."
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Subordinated debt account means a debt having a claim against the issuer’s assets that is lower in ranking, or junior to, other obligations, and is paid after claims to holders of senior securities are satis- fied.
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Related to Subordinated debt account

  • Subordinated Debt is indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to Bank.

  • Subordinated Debt Documents means any documents evidencing and/or securing Debt governed by a Subordination Agreement, all of which documents must be in form and substance acceptable to Agent in its sole discretion. As of the Closing Date, there are no Subordinated Debt Documents.

  • Subordinated Indebtedness means any Indebtedness of the Borrower or any Subsidiary the payment of which is subordinated to payment of the obligations under the Loan Documents.

  • First Lien Indebtedness means the Indebtedness evidenced by the First Lien Loan Documents.

  • Senior Funded Debt means all Funded Debt (except Funded Debt, the payment of which is subordinated to the payment of the Notes).

  • Subordinated Obligation means any Indebtedness of the Company (whether outstanding on the Issue Date or thereafter incurred) that is subordinated or junior in right of payment to the Notes pursuant to a written agreement.