Subordinated Rights definition

Subordinated Rights means all rights, remedies and powers of the Subordinated Creditor pursuant to any agreement, instrument or other document evidencing, governing or relating to any Subordinated Debt or otherwise available to the Subordinated Creditor pursuant to applicable laws to enforce payment and performance of the Subordinated Debt.
Sample 1
Subordinated Rights shall respectively mean for each Guarantor any and all: (a) advances, loans, indebtedness and other similar amounts (including interest) directly or indirectly owed to such Guarantor by the Borrower, any other Guarantor or any Surety (whether individually, jointly, severally or otherwise); (b) subrogation, contribution, reimbursement, restitution and other similar rights of such Guarantor against or in respect of (i) the Borrower, any other Guarantor or any Surety, or (ii) any of their respective assets and properties, whether resulting from any payment made by such Guarantor or otherwise; and (c) security interests or other liens or encumbrances securing, or guaranties or other credit support securing for, any such advances, loans, indebtedness, amounts or rights; in each case whether now or hereafter existing, acquired or created.
Sample 1Sample 2
Subordinated Rights shall respectively mean any and all: (a) advances, loans and other indebtedness and other similar or related amounts (including interest and fees) directly or indirectly owed to Pledgor by any Subsidiary (whether individually, jointly, severally or otherwise) ("Intercompany Debt"); (b) subrogation, contribution, reimbursement, restitution, recoupment, counterclaim and other similar or related rights ("Subrogation Rights") of Pledgor against or in respect of (i) any Subsidiary or any Surety, or (ii) any of their respective assets and properties, whether resulting from any payment made by Pledgor or otherwise; and (c) any security interest, lien, encumbrance or other adverse claim or guaranty, pledge, mortgage or other credit support securing or otherwise supporting, or any right, power, privilege, remedy, entitlement, preference, support or interest of Pledgor authorized, contemplated, permitted or provided for under any agreement or applicable law or incidental thereto respecting, any such Intercompany Debt or Subrogation Rights; in each case whether now or hereafter existing, acquired or created.
Sample 1Sample 2

Examples of Subordinated Rights in a sentence

  • To the extent that it is impossible or impracticable for the Company to satisfy conflicting obligations with respect to the Subordinated Rights and the Bank Rights, or with respect to the Company Subordinated Lender Obligations and the Company Bank Obligations, it shall not be in default under the Creditor Agreements if it satisfies the relevant obligations with respect to only one Creditor otherwise in accordance with this Section 2.2(j).

  • Pledgor acknowledges and confirms to and covenants and agrees with Lender that until Credit Repayment has been completed, any and all Subordinated Rights of Pledgor shall be subordinate and inferior in priority and dignity to Pledgor’s Obligations and shall not be entitled to any payment or satisfaction (in whole or in part) until, Credit Repayment has been completed.

  • Each Guarantor covenants and agrees that until the Borrower's Obligations and Guarantors' Obligations have been fully paid and satisfied, any and all Subordinated Rights of such Guarantor shall be subordinate and inferior in priority and dignity to the Borrower's Obligations and Guarantors' Obligations and shall not be entitled to any payment or satisfaction (in whole or in part) until, all of the Borrower's Obligations and Guarantors' Obligations have been fully paid and satisfied.

  • Pledgor hereby acknowledges and agrees that pursuant to this Agreement Pledgor has granted to Lender a continuing security interest in and to any and all Subordinated Rights of Pledgor and the proceeds thereof.

  • Since December 2019, he is an independent non-executive director of Century Group International Holdings Limited (Stock code: 2113), which is a company listed on the Main Board of the Stock Exchange.

  • Except in accordance with Section 2.3(e), the Subordinated Creditor shall not assign all or any portion of its Subordinated Debt, the Subordinated Debt Documents or the Subordinated Rights.

  • Notwithstanding the terms of the agreements giving rise to the Indebtedness or Subordinated Rights, the time of default under or the dates of any advances of the Indebtedness, the Parties agree that all and any of their rights in respect of the Indebtedness and the Subordinated Rights shall be governed by the terms of this Agreement.

  • Should any payment on account of, or any collateral for any part of the Subordinated Rights be received by Junior Claimant in violation of this Agreement, such payment or collateral shall be delivered by Junior Claimant forthwith to Collateral Agent, on behalf of the Senior Claimants, for application to the Senior Rights, in the form received.

  • To the extent that it is impossible or impracticable for the Company to satisfy conflicting obligations with respect to the Subordinated Rights and the Bank Rights, or with respect to the Company Subordinated Lender Obligations and the Company Bank Obligations it shall not be in default under the Creditor Agreements if it satisfies the relevant obligations with respect to only one Creditor otherwise in accordance with this Section 2.2(j).

  • None of the Subordinated Creditors shall assign all or any portion of its Subordinated Debt, Subordinated Rights or obligations under this Agreement without the prior written consent of the Agent on behalf of the Lenders unless the assignee thereof is already a Subordinated Creditor which is a Party.


More Definitions of Subordinated Rights

Subordinated Rights shall respectively mean for each Borrower any and all subrogation, contribution and other similar rights of such Borrower against or in respect of (i) any other Borrower, or (ii) any of their respective assets and properties, whether resulting from any payment made by such Borrower or otherwise; in each case whether now or hereafter existing, acquired or created.
Sample 1Sample 2
Subordinated Rights of any Borrower shall respectively mean any and all subrogation, contribution and other similar rights of such Borrower against or in respect of (a) any other Borrower, (b) any of the assets and properties of any other Borrower or any Subsidiary of any Borrower, or (c) any other co-obligor or indemnitor of any of such Borrower's payments or obligations under any of the Loan Instruments, whether now existing or hereafter acquired or created, and whether resulting from any payment made by such Borrower or otherwise (other than as waived in Section 2.14 hereof).
Sample 1
Subordinated Rights means all rights, privileges and remedies provided to Junior Claimant under the Subordinated Pledge Agreement with respect to the Member Interest (as defined therein).
Sample 1
Subordinated Rights. All rights of the Agent with respect to the Pledged Residuals or any proceeds, payments or related distributions or rights therefrom or thereunder.
Sample 1

Related to Subordinated Rights

  • Related Rights has the meaning set forth in Section 1.1 of the Purchase and Sale Agreement.

  • Subordinated Obligations has the meaning specified in Section 7.05.

  • Junior Obligations means the Junior Obligations of the Guarantor and the Junior Obligations of the Issuer;

  • 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.

  • Subordinated Obligation means any Indebtedness of the Company (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinate in right of payment to the Notes pursuant to a written agreement.

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

  • Junior Obligation means the Shares, and any other class of the Issuer’s share capital and any instrument or other obligation (including without limitation any preference shares) issued or guaranteed by the Issuer that ranks or is expressed to rank junior to the Capital Securities by operation of law or contract.

  • Subordinated means, as applied to Indebtedness, Indebtedness that shall have been subordinated (by written terms or written agreement being, in either case, in form and substance satisfactory to Agent and the Required Lenders) in favor of the prior payment in full of the Obligations.

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

  • 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

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • Distributed Right has the meaning set forth in the definition of “Adjustment Factor.”

  • Restricted rights, as used in this clause, means the rights of the Government in restricted computer software, as set forth in a Restricted Rights Notice of paragraph (g) if included in this clause, or as otherwise may be provided in a collateral agreement incorporated in and made part of this contract, including minor modifications of such computer software.

  • Junior Subordinated Indebtedness means the principal of (and premium, if any) and unpaid interest on (a) indebtedness of the Company (including indebtedness of others guaranteed by the Company), whether outstanding on the date hereof or thereafter created, incurred, assumed or guaranteed, for money borrowed, which in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such indebtedness ranks junior in right of payment to the Company’s Senior Indebtedness and Senior Subordinated Indebtedness and equally and pari passu in right of payment to any other Junior Subordinated Indebtedness, (b) Junior Subordinated Securities, and (c) renewals, extensions, modifications and refinancings of any such indebtedness.

  • Pari Passu Lien Obligations means any Financial Indebtedness that has equal or substantially equal Security Interest priority to the Facilities on the Security (taking into account any intercreditor arrangements).

  • Parity Lien Obligations means Parity Lien Debt and all other Obligations in respect thereof.

  • Senior Indebtedness means, with respect to the Company, (i) the principal, premium, if any, and interest in respect of (A) indebtedness of the Company for money borrowed and (B) indebtedness evidenced by securities, debentures, notes, bonds or other similar instruments issued by the Company; (ii) all capital lease obligations of the Company; (iii) all obligations of the Company issued or assumed as the deferred purchase price of property, all conditional sale obligations of the Company and all obligations of the Company under any title retention agreement; (iv) all obligations of the Company for the reimbursement of any letter of credit, any banker's acceptance, any security purchase facility, any repurchase agreement or similar arrangement, any interest rate swap, any other hedging arrangement, any obligation under options or any similar credit or other transaction; (v) all obligations of the type referred to in clauses (i) through (iv) above of other Persons for the payment of which the Company is responsible or liable as obligor, guarantor or otherwise; and (vi) all obligations of the type referred to in clauses (i) through (v) above of other Persons secured by any lien on any property or asset of the Company (whether or not such obligation is assumed by the Company), whether incurred on or prior to the date of this Indenture or thereafter incurred. Notwithstanding the foregoing, "Senior Indebtedness" shall not include (1) any Additional Junior Indebtedness, (2) Debentures issued pursuant to this Indenture and guarantees in respect of such Debentures, (3) trade accounts payable of the Company arising in the ordinary course of business (such trade accounts payable being pari passu in right of payment to the Debentures), or (4) obligations with respect to which (a) in the instrument creating or evidencing the same or pursuant to which the same is outstanding, it is provided that such obligations are pari passu, junior or otherwise not superior in right of payment to the Debentures and (b) the Company, prior to the issuance thereof, has notified (and, if then required under the applicable guidelines of the regulating entity, has received approval from) the Federal Reserve (if the Company is a bank holding company) or the OTS (if the Company is a savings and loan holding company). Senior Indebtedness shall continue to be Senior Indebtedness and be entitled to the subordination provisions irrespective of any amendment, modification or waiver of any term of such Senior Indebtedness.

  • 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.

  • Second Lien Obligations means the “Obligations” as defined in the Second Lien Credit Agreement.

  • Junior Priority Obligations means the Initial Junior Priority Obligations and any Additional Obligations constituting Junior Priority Debt.

  • Noteholder Claims means all Obligations in respect of the Notes or arising under the Noteholder Documents or any of them, including all fees and expenses of the Trustee thereunder.

  • Senior Subordinated Indebtedness means the Securities and any other Indebtedness of the Company that specifically provides that such Indebtedness is to rank pari passu with the Securities in right of payment and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of the Company which is not Senior Indebtedness.

  • Other Pari Passu Lien Obligations means any Indebtedness or other Obligations (including Hedging Obligations) having Pari Passu Lien Priority relative to the Notes with respect to the Collateral; provided that an authorized representative of the holders of such Indebtedness shall have executed a joinder to the ABL-Notes Intercreditor Agreement and a joinder to the Pari Passu Intercreditor Agreement or the Pari Passu Intercreditor Agreement.

  • Junior Indebtedness means any indebtedness of any Mortgagor that is secured by a lien that is junior in right of payment to the lien of the Mortgage securing the related Mortgage Note.

  • Junior means any person in receipt of less than the adult wage.

  • Additional Senior Obligations means all indebtedness of the Company whether incurred on or prior to the date of this Indenture or thereafter incurred, for claims in respect of derivative products such as interest and foreign exchange rate contracts, commodity contracts and similar arrangements; provided, however, that Additional Senior Obligations does not include claims in respect of Senior Debt or Subordinated Debt or obligations which, by their terms, are expressly stated to be not superior in right of payment to the Debentures or to rank pari passu in right of payment with the Debentures. For purposes of this definition, "claim" shall have the meaning assigned thereto in Section 101(4) of the United States Bankruptcy Code of 1978, as amended.