Senior Indebtedness definition: Copy, customize, and use instantly
Introduction
The term "Senior Indebtedness" refers to debt obligations that take priority over other forms of indebtedness in the event of a liquidation or bankruptcy. These are typically the first debts to be repaid and are considered the highest-ranking in terms of creditor claims. This term is critical in financing agreements as it defines the order in which creditors are paid and helps establish the risk profile of a company’s debt structure.
Below are various examples of how "Senior Indebtedness" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Senior Indebtedness" as priority debt
This definition clearly outlines that "Senior Indebtedness" is the debt that gets priority in payment, particularly in liquidation scenarios.
"Senior Indebtedness" refers to any indebtedness or obligation of the company that is ranked higher in priority than subordinated or junior debt, to be repaid before other unsecured creditors in the event of bankruptcy or liquidation.
Definition of "Senior Indebtedness" as debt in secured financing
This definition ties "Senior Indebtedness" to secured loans, ensuring that it applies to debt backed by collateral.
"Senior Indebtedness" means all indebtedness for borrowed money, whether secured or unsecured, that is senior in right of payment to other debt of the borrower and is secured by the borrower’s assets.
Definition of "Senior Indebtedness" as debt subject to repayment terms
This definition highlights the repayment schedule and terms associated with senior debt, specifying its priority.
"Senior Indebtedness" refers to all debt that must be paid first, with priority repayment terms specified in the financing agreement, including interest and principal amounts due before any other lower-ranking debts.
Definition of "Senior Indebtedness" as debt instruments in capital structure
This definition associates "Senior Indebtedness" with instruments used in a company's capital structure, often the first to be repaid in the event of liquidation.
"Senior Indebtedness" means the principal amount of any debt instruments, including bonds or loans, that are higher in priority than other unsecured obligations in the company’s capital structure.
Definition of "Senior Indebtedness" as debt holding priority over subordinated debt
This definition ties "Senior Indebtedness" to its superior ranking over subordinated or junior debt in a corporate structure.
"Senior Indebtedness" refers to all loans or credit obligations of the borrower, including those that are senior in rank to subordinated debt and receive repayment first in the event of the company’s liquidation.
Definition of "Senior Indebtedness" as senior secured debt
This definition connects "Senior Indebtedness" specifically to secured debt, emphasizing its seniority in a bankruptcy or liquidation situation.
"Senior Indebtedness" means all indebtedness for borrowed money that is secured by a lien or other security interest on the borrower’s assets, and which has a higher priority than other unsecured or junior debts.
Definition of "Senior Indebtedness" as a form of capital financing
This definition ties "Senior Indebtedness" to capital financing used for the company’s operations, highlighting its priority in repayment.
"Senior Indebtedness" refers to the portion of a company’s debt financing that ranks higher than other obligations and must be repaid first before any other debt, including subordinated or unsecured debt.
Definition of "Senior Indebtedness" as a financial obligation with priority rights
This definition connects "Senior Indebtedness" to financial obligations that provide the creditor with priority over others in repayment.
"Senior Indebtedness" means the financial obligations of the borrower that grant creditors priority in payment, over all other classes of debt or obligations, as determined by the governing financing agreement.
Definition of "Senior Indebtedness" as the highest-ranking debt
This definition highlights that "Senior Indebtedness" is the top priority debt, ranking higher than other forms of debt in the repayment hierarchy.
"Senior Indebtedness" refers to any indebtedness or obligation of the borrower that is the highest-ranking and must be repaid before other forms of debt in the event of liquidation or restructuring.
Definition of "Senior Indebtedness" as financial debt with collateral backing
This definition emphasizes that "Senior Indebtedness" is often backed by collateral, adding a layer of security for creditors.
"Senior Indebtedness" refers to financial debt secured by collateral, which ranks higher in priority over other types of unsecured or junior debt in the event of liquidation or bankruptcy.
Definition of "Senior Indebtedness" as priority debt in restructuring
This definition links "Senior Indebtedness" to restructuring processes, ensuring that these debts take priority during corporate restructuring.
"Senior Indebtedness" means all debt obligations that are considered to be of the highest priority in the event of a corporate restructuring, where such debts must be settled first before any other creditor claims are addressed.
Definition of "Senior Indebtedness" as senior in rank to subordinated debt
This definition clarifies the rank of "Senior Indebtedness" relative to subordinated debt, ensuring that the hierarchy is understood.
"Senior Indebtedness" refers to debt obligations that are senior to subordinated debt in terms of repayment priority, meaning that it must be satisfied before any subordinated debt claims are paid.
Definition of "Senior Indebtedness" as secured credit with senior status
This definition emphasizes that "Senior Indebtedness" is often secured credit that holds senior status in repayment schedules.
"Senior Indebtedness" means any credit obligations that are secured and carry senior status, meaning these debts are prioritized over other debt classes when repaid from company assets.
Definition of "Senior Indebtedness" as a type of loan with priority
This definition associates "Senior Indebtedness" with loans that have priority repayment rights in a financial context.
"Senior Indebtedness" refers to any loan or credit agreement that is ranked first in priority for repayment, ensuring that these obligations are satisfied before others.
Definition of "Senior Indebtedness" as debt with superior claim
This definition connects "Senior Indebtedness" to debt that has a superior claim on company assets compared to other debts.
"Senior Indebtedness" means all debts that have a superior claim over other liabilities, ensuring repayment before any subordinated debt or unsecured liabilities.
Definition of "Senior Indebtedness" as debt classified under priority categories
This definition places "Senior Indebtedness" into specific priority categories for repayment.
"Senior Indebtedness" refers to debt obligations that fall into the highest priority category, meaning they are repaid first out of any available funds during a financial settlement or liquidation process.
Definition of "Senior Indebtedness" as debt with payment precedence
This definition specifies that "Senior Indebtedness" enjoys precedence in payments over all other debts.
"Senior Indebtedness" means any debt that has precedence in payments over all other classes of debt or obligations, including unsecured or subordinated obligations.
Definition of "Senior Indebtedness" as secured obligations in a debt structure
This definition ties "Senior Indebtedness" to obligations secured by specific assets within a company’s debt structure.
"Senior Indebtedness" refers to secured obligations within a company’s debt structure, where these obligations are given priority in repayment over other types of obligations.
Definition of "Senior Indebtedness" as debt held by senior creditors
This definition emphasizes the role of senior creditors in the debt structure and their priority over other creditors.
"Senior Indebtedness" refers to debt that is held by senior creditors, who have priority claims to the company’s assets and income over subordinated creditors.
Definition of "Senior Indebtedness" as debt with senior creditor claims
This definition ensures that creditors with senior claims are prioritized over others in the repayment process.
"Senior Indebtedness" means all debts that are owed to senior creditors and have priority over other unsecured or subordinated debt obligations in the event of liquidation.
Definition of "Senior Indebtedness" as first-priority debt
This definition highlights the first-priority nature of "Senior Indebtedness" in the context of company debt repayment.
"Senior Indebtedness" refers to all debts that are considered first-priority debt obligations, meaning they must be repaid before any other outstanding debts or obligations are settled.
Definition of "Senior Indebtedness" as a high-priority liability
This definition characterizes "Senior Indebtedness" as a liability with high priority for repayment in financial terms.
"Senior Indebtedness" means a liability that holds high priority for repayment before any other form of debt or obligation, including subordinated debt, in the event of liquidation.
Definition of "Senior Indebtedness" as debt with repayment preference
This definition emphasizes that "Senior Indebtedness" has a repayment preference over other lower-ranking debt obligations.
"Senior Indebtedness" refers to any debt obligation that holds repayment preference over all other debt categories, ensuring its satisfaction first in liquidation or bankruptcy proceedings.
Definition of "Senior Indebtedness" as debt with collateral backing priority
This definition connects "Senior Indebtedness" to collateralized loans that take precedence in repayment.
"Senior Indebtedness" means any debt secured by collateral that takes priority in repayment over other debts in the event of liquidation or bankruptcy.
Definition of "Senior Indebtedness" as a debt with repayment first in line
This definition specifies that "Senior Indebtedness" is the first debt in line to be repaid.
"Senior Indebtedness" refers to any debt obligation that is the first to be repaid in the event of liquidation or bankruptcy, ahead of subordinated or junior debt.
Definition of "Senior Indebtedness" as a category of debt with superior status
This definition places "Senior Indebtedness" into a category of debt that enjoys superior status in repayment.
"Senior Indebtedness" means debt that is categorized as superior in status, meaning it must be
repaid first before other subordinated debts are addressed.
Definition of "Senior Indebtedness" as a priority debt
This definition connects "Senior Indebtedness" to debts that take priority over others in case of liquidation.
"Senior Indebtedness" refers to any indebtedness or obligations that have priority over other types of debt in the event of the liquidation or bankruptcy of the company.
Definition of "Senior Indebtedness" as a secured debt
This definition links "Senior Indebtedness" to secured debts that are prioritized for repayment.
"Senior Indebtedness" means any debts or obligations that are secured by collateral, taking precedence over unsecured obligations in case of default or liquidation.
Definition of "Senior Indebtedness" as obligations of a higher ranking
This definition emphasizes the hierarchical nature of ""Senior Indebtedness"."
"Senior Indebtedness" refers to the obligations that rank above other debts or liabilities in the order of repayment, typically in a senior position relative to other subordinated or unsecured debts.
Definition of "Senior Indebtedness" as a class of debt
This definition ties "Senior Indebtedness" to a specific class or category of debt.
"Senior Indebtedness" refers to the class of debt obligations that are considered senior to all other types of indebtedness in terms of repayment priority.
Definition of "Senior Indebtedness" as obligations with a first claim
This definition connects "Senior Indebtedness" to the first claim on assets in the event of a default.
"Senior Indebtedness" refers to all indebtedness that holds the first claim on the company’s assets and income before subordinated or junior debt.
Definition of "Senior Indebtedness" as obligations secured by specific assets
This definition links "Senior Indebtedness" to debts secured by particular assets of the borrower.
"Senior Indebtedness" means the obligations that are secured by specific assets of the borrower, taking precedence over other debts in terms of repayment priority.
Definition of "Senior Indebtedness" as obligations with priority in payment
This definition connects "Senior Indebtedness" to the priority in repayment over other obligations.
"Senior Indebtedness" refers to those obligations that must be repaid before other junior or subordinate debts, regardless of the borrower’s financial condition.
Definition of "Senior Indebtedness" as obligations covered by senior debt covenants
This definition ties "Senior Indebtedness" to the covenants that apply to senior debt.
"Senior Indebtedness" means the financial obligations subject to senior debt covenants, which impose stricter requirements for repayment than those imposed on junior debt.
Definition of "Senior Indebtedness" as obligations under senior loan agreements
This definition links "Senior Indebtedness" to loan agreements specifically labeled as senior loans.
"Senior Indebtedness" refers to obligations arising from senior loan agreements, where the repayment is prioritized over all other types of debt.
Definition of "Senior Indebtedness" as obligations with highest ranking in capital structure
This definition connects "Senior Indebtedness" to the highest position within the capital structure.
"Senior Indebtedness" refers to obligations that occupy the highest position in the capital structure and are satisfied before any other classes of debt or equity.
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