Subordinated Secured Obligations definition

Subordinated Secured Obligations means the Secured Obligations to the extent owed to a Lessee;

Subordinated Secured Obligations has the meaning ascribed thereto in the Collateral Trust Agreement.

Subordinated Secured Obligations means the indebtedness, obligations and liabilities of the Borrower to Argyle under the Subordinated Loan Documents (including, but not limited to, all unpaid principal of, premium, if any, and accrued and unpaid interest on the Subordinated Notes) and the Conversion Agreements, whether now existing or hereafter arising, joint or several, direct or indirect, absolute or contingent, due or to become due, matured or unmatured, liquidated or unliquidated, arising by contract, operation of law or otherwise, and all obligations of the Borrower to Argyle arising out of any modification, amendment, increase, extension, refinancing or refunding of any of the foregoing obligations.

Examples of Subordinated Secured Obligations in a sentence

• When all Senior Secured Obligations then outstanding have been paid in full and the Senior Lenders' obligations to extend credit under all Senior Loan Documents have been terminated, Argyle shall be subrogated to the rights of the holders of Senior Secured Obligations to receive payments or distributions of assets of the Borrower that would be deemed payable on the Senior Secured Obligations until the Subordinated Secured Obligations shall be paid in full.

• Until the Senior Secured Obligations have been paid in full, the payment of the Subordinated Secured Obligations shall be postponed and subordinated to the payment of all of the Senior Secured Obligations except that the Subordinated Secured Obligations can be converted in whole or in part into equity of the Borrower at any time in accordance with the Subordinated Loan Documents.

• Until the Senior Secured Obligations have been paid in full as provided for in the Senior Loan Documents, Argyle shall not (i) ask, demand, or sue xxx any payment, distribution or any other remedy in respect of the Subordinated Secured Obligations, or (ii) commence, or join with any other creditor (other than the Senior Lenders) in commencing, any Insolvency Event.

• All amounts owing with respect to the Senior Secured Obligations shall be equally and ratably secured with the Subordinated Secured Obligations, to the extent perfected and enforceable, by a first prior and perfected lien on and security interest in the Collateral without distinction as to whether some Senior Secured Obligations or Subordinated Secured Obligations are then due and payable and other Senior Secured Obligations or Subordinated Secured Obligations are not then due and payable.

• Except as provided in the immediately preceding sentence, Argyle shall accept no payments or other distributions whatsoever on account of the Subordinated Secured Obligations under and pursuant to the Subordinated Loan Documents, nor shall any property or assets of the Borrower be applied to the purchase or acquisition or retirement of any of the Subordinated Secured Obligations.

More Definitions of Subordinated Secured Obligations

Subordinated Secured Obligations the collective reference to the -------------------------------- Senior Subordinated Secured Obligations and the Junior Subordinated Secured Obligations.

Subordinated Secured Obligations the unpaid principal of and -------------------------------- interest on the Notes and all other obligations and liabilities of the Company to the Trustee and the Holders (including, without limitation, interest accruing at the then applicable rate provided in the Indenture after the maturity of the Notes and interest accruing at the then applicable rate provided in the Indenture after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to either Borrower, whether or not a claim for post- filing or post-petition interest is allowed in such proceeding), whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Notes, the Indenture or this Agreement.

Subordinated Secured Obligations means the Secured Obligations to the extent owed by a Borrower to an Export Lessee.

Subordinated Secured Obligations means all present and future indebtedness, liabilities and obligations of any and every nature, kind and description whatsoever and however incurred (whether direct or indirect, joint or several, absolute or contingent, matured or unmatured and whether as principal debtor, guarantor, surety or otherwise) of Atlantic Power and each Guarantor (as defined in the Subordinated Indenture) to the Subordinated Trustee and each present and future holder of Subordinated Notes under, in connection with or with respect to the Subordinated Indenture, each of the Subordinated Notes, the Subordinated Indenture Guarantees and any security, documents or agreements delivered from time to time under or in connection with any of the foregoing (including, without limitation, principal, premium, interest, indemnities, fees, costs and expenses) and any ultimate unpaid balance thereof.

Subordinated Secured Obligations means, collectively, the Third Party Subordinated Obligations, the Affiliated Subordinated Obligations and the Working Capital Subordinated Secured Obligations.

Subordinated Secured Obligations means all present and future indebtedness, liabilities and obligations of any and every nature, kind and description whatsoever and however incurred (whether direct or indirect, joint or several, absolute or contingent, matured or unmatured and whether as principal debtor, guarantor, surety or otherwise) of Atlantic Power Corporation and each Guarantor (as defined in the Subordinated Indenture) to the Subordinated Trustee and each present and future holder of Subordinated Notes under, in connection with or with respect to the Subordinated Indenture, each of the Subordinated Notes, each “Guarantee” (as defined in the Subordinated Indenture) and any security, documents or agreements delivered from time to time under or in connection with any of the foregoing (including, without limitation, principal, premium, interest, indemnities, fees, costs and expenses) and any ultimate unpaid balance thereof.

Subordinated Secured Obligations means the collective reference to the Subordinated SENS Secured Obligations, the Subordinated Credit Facility Secured Obligations and the Subordinated Additional Secured Obligations.