Example ContractsClausesSenior Debt
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Senior Debt. Ensure that the Obligations shall, at all times, rank at least pari passu in right of payment (to the fullest extent permitted by law) with all other senior Indebtedness of the Borrower and each of its Subsidiaries.

Classification as Senior Debt. The Obligations shall cease to be classified as “Senior Indebtedness,” “Designated Senior Indebtedness” or any similar designation under any instrument or other agreement or document governing the subordination terms of any Junior Debt.

Senior Indebtedness. The Obligations under the Facilities constitute “senior debt”, “senior indebtedness”, “guarantor senior debt”, “senior secured financing” and “designated senior indebtedness” (or any comparable term) under the documentation for all Indebtedness that is subordinated in right of payment to the Obligations (if applicable).

Debt. Create, assume or suffer to exist, or in any manner become or be liable in respect of, any Debt, except:

Debt. Borrower does not have any Debt outstanding other than Debt permitted by [Section 6.1] hereof.

. The Obligations are #Senior Debt”, “Senior Indebtedness”, “Guarantor Senior Debt” or “Senior Secured Financing” (or any comparable term) and “Designated Senior Debt”, “Designated Senior Indenture”, “Designated Guaranteed Secured Debt”, or “Designated Senior Financing” (or any comparable term) under, and as defined in, any Junior Financing Documentation and #First Lien Debt” (or any comparable term) under, and as defined in, any intercreditor or subordination agreement relating to any Additional Permitted Debt (in cases where the Collateral Agent’s Liens arising under this Agreement and the other Loan Documents are intended to be senior to the Liens securing such Additional Permitted Debt, as contemplated in [Section 6.18(c)]).

The Senior Debt shall continue to be treated as Senior Debt and the provisions of this Agreement shall continue to govern the relative rights and priorities of Senior Lender, Senior Secured Parties, and Subordinated Creditor to the extent expressly provided herein even if all or part of the Senior Debt or the security interests securing the Senior Debt are subordinated, set aside, avoided, invalidated or disallowed in connection with any such Proceeding and this Agreement shall be reinstated if at any time any payment of any of the Senior Debt is rescinded or must otherwise be returned by any holder of Senior Debt or any representative of such holder.

Nature of Sale. Such purchase of the Senior Debt shall be # made pursuant to agreements, documents and instruments reasonably satisfactory in form and substance to Senior Lender and the other Senior Secured Parties and the applicable purchaser of the Senior Debt (including the releases and indemnities referred to in [Section 19(c)]), and # expressly made without any representation or warranty of any kind by Senior Lender or Senior Secured Parties as to the Senior Debt or otherwise and without recourse to Senior Lender or Senior Secured Parties, except for representations and warranties as to the following: # the notional amount of the Senior Debt being purchased (including as to the principal of and accrued and unpaid interest on such Senior Debt, and fees and expenses in respect thereof, and all other amounts required to be paid in connection with the purchase of the Senior Debt), # that Senior Secured Parties own the Senior Debt free and clear of any liens, and # Senior Secured Parties have the full right and power to assign the Senior Debt and such assignment has been duly authorized by all necessary action by Senior Lender and Senior Secured Parties. Upon the consummation of the purchase option described in this [Section 19], all commitments on the part of Senior Lender and Senior Secured Parties to fund loans or provide letters of credit under the Senior Credit Agreement shall be terminated and extinguished. Subordinated Creditor shall have no claim against Senior Lender or any Senior Secured Party for any remedies or actions taken by Senior Lender and Senior Secured Parties with respect to the Senior Debt or any Collateral securing such Senior Debt following the consummation of the purchase option described in this [Section 19].

Each of the Parties hereby agrees that the Senior Debt, whether secured or unsecured, shall rank senior in priority to the Subordinated Debt.

Senior Debt” shall mean the Note Offering Debt.

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