Unsecured Liability means the aggregate amount of senior securities representing unsecured indebtedness of the Company (all as determined pursuant to the Investment Company Act and any orders of the SEC issued to the Company thereunder) and the portion of any secured indebtedness of the Company for which the value of the collateral securing such indebtedness is not sufficient to pay the principal amount of such indebtedness. For the avoidance of doubt, indebtedness of subsidiaries of the Company shall not constitute an Unsecured Liability.
Unsecured Liability means the aggregate amount of senior securities representing unsecured indebtedness of the Borrower (all as determined pursuant to the Investment Company Act and any orders of the SEC issued to the Borrower thereunder) and the portion of any secured indebtedness of the Borrower for which the value of the collateral securing such indebtedness is not sufficient to pay the principal amount of such indebtedness. For the avoidance of doubt, indebtedness of subsidiaries of the Borrower shall not constitute an Unsecured Liability.
Examples of Unsecured Liability in a sentence
This term is defined to mean each creditor to whom New Look owes an Ordinary Unsecured Liability.
The board agreed to Neil’s proposed goals concerning Reserves and Restricted Funds, including those for Unsecured Liability Reserve, Capital Reserve, Endowment Startup and the Ranch Payment Reserve.
This is inapplicable to the claimant because the term Ordinary Unsecured Liability means any liability of New Look to a creditor other than any Liability owed to that creditor as (amongst other things) a Compromised CVA Creditor.