Specified Senior Indebtedness Clause Samples

The "Specified Senior Indebtedness" clause defines certain debts or financial obligations that are given priority over other forms of indebtedness in the event of a default or liquidation. Typically, this clause lists or describes particular loans, credit facilities, or other financial instruments that are considered senior, meaning they must be repaid before subordinated or junior debts. For example, a company’s primary bank loan or a syndicated credit agreement might be designated as Specified Senior Indebtedness. The core function of this clause is to clearly identify which debts have repayment priority, thereby protecting the interests of senior lenders and providing clarity to all parties regarding the order of payment in adverse situations.
Specified Senior Indebtedness. The Parties acknowledge and agree that the Indebtedness hereunder is specifically designated "Designated Senior Indebtedness" as required by the 2002 Senior Subordinated Indenture pursuant to which the 2002 Senior Subordinated Notes have been issued.
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Specified Senior Indebtedness. The Indebtedness of the Borrower constitutes “Senior Indebtedness” and “Specified Senior Indebtedness,” and the Indebtedness of each Guarantor under the Loan Documents to which it is a party constitutes “Guarantor Senior Indebtedness” and “Specified Guarantor Senior Indebtedness,” in each case, under and as defined in the Second Lien Term Loan Agreement pursuant to which the Second Lien Notes have been issued.
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Specified Senior Indebtedness. 100 Section 12.15 Limitation of Liability of the General Partner.............................................100 Annex I List of Maximum Credit Amounts Exhibit A Form of Note Exhibit B Form of Compliance Certificate Exhibit C-1 Form of Legal Opinion of Akin, Gump, Strauss, ▇▇▇▇▇ & ▇▇▇▇, L.L.P., special counsel to the Borrower Exhibit C-2 Form of Legal Opinion of Local Counsel Exhibit D-1 Security Instruments Exhibit D-2 Form of Guaranty and Collateral Agreement Exhibit E Form of Assignment and Assumption Exhibit F-1 Form of Maximum Credit Amount Increase Certificate Exhibit F-2 Form of Additional Lender Certificate Schedule 1.02 Swap Agreements with BoA Schedule 7.03 Approvals Schedule 7.05 Litigation Schedule 7.06 Environmental Matters Schedule 7.14 Restriction on Liens Schedule 7.15 Subsidiaries and Partnerships; Unrestricted Subsidiaries Schedule 7.17 Properties; Titles, Etc. Schedule 7.19 Gas Imbalances Schedule 7.20 Marketing Contracts Schedule 7.21 Swap Agreements Schedule 9.03 Liens Schedule 9.05 Investments Schedule 9.07 Nature of Business THIS CREDIT AGREEMENT dated as of July 3, 2002, is among: PLAINS EXPLORATION & PRODUCTION COMPANY, L.P., a limited partnership duly formed and existing under the laws of the State of California (the "Borrower"); each of the Lenders from time to time party hereto; JPMORGAN CHASE BANK (in its individual capacity, "JPMorgan"), as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the "Administrative Agent"); BANK ONE, NA (MAIN OFFICE CHICAGO) and FLEET NATIONAL BANK, as syndication agents for the Lenders (each, in such capacity, together with its successors in such capacity, a "Syndication Agent"); and BNP PARIBAS and FORTIS CAPITAL CORP., as documentation agents for the Lenders (each, in such capacity, together with its successors in such capacity, a "Documentation Agent").
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Specified Senior Indebtedness. The Indebtedness of the Borrower constitutes "Senior Indebtedness" as defined in the Intercreditor Agreement."
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Specified Senior Indebtedness. The Obligations shall constitute Specified Senior Indebtedness (as defined in each of the Subordinated Debt Indentures).
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Specified Senior Indebtedness. 97 Section 12.15
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Specified Senior Indebtedness. The Parties acknowledge and agree that the Indebtedness hereunder is specifically designated "Specified Senior Indebtedness" as required by the Senior Notes Indenture pursuant to which the Senior Notes have been issued. The parties hereto have caused this Agreement to be duly executed as of the day and year first above written. BORROWER: ENERGY PARTNERS, LTD. By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ------------------------------- Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Title: Treasurer ADMINISTRATIVE AGENT JPMORGAN CHASE BANK, Individually and AND LENDER: as Administrative Agent By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇ _____________________________ Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇ _____________________________ Title: Managing Director _____________________________ [Signature Page - Credit Agreement] SYNDICATION AGENT AND BNP PARIBAS, Individually and LENDER: as Syndication Agent By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇ _______________________________ Name: ▇▇▇▇▇ ▇▇▇▇▇▇ _______________________________ Title: Vice President _______________________________ By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇ _______________________________ Name: ▇▇▇▇ ▇▇▇▇▇▇▇ _______________________________ Title: Vice President _______________________________ CO-DOCUMENTATION AGENT WACHOVIA BANK, NATIONAL AND LENDER: ASSOCIATION, Individually and as Co-Documentation Agent By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ _______________________________ Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ _______________________________ Title: Director _______________________________ CO-DOCUMENTATION AGENT ▇▇▇▇▇ FARGO BANK, NATIONAL AND LENDER: ASSOCIATION, Individually and as Co-Documentation Agent By: /s/ ▇▇▇▇ ▇▇▇▇▇▇ _______________________________ Name: ▇▇▇▇ ▇▇▇▇▇▇ _______________________________ Title: Vice President _______________________________ LENDER: ROYAL BANK OF CANADA By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ _____________________________ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ _____________________________ Title: Authorized Signatory _____________________________ [Signature Page - Credit Agreement] LENDER: WHITNEY NATIONAL BANK By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ _____________________________ Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ _____________________________ Title: Senior Vice President _____________________________ ANNEX I LIST OF MAXIMUM CREDIT AMOUNTS AGGREGATE MAXIMUM CREDIT AMOUNTS APPLICABLE MAXIMUM CREDIT NAME OF LENDER PERCENTAGE AMOUNT ------------------------------------------------------------------- JPMorgan Chase Bank 20% $ 40,000,000 BNP Paribas 20% $ 40,000,000 ▇▇▇▇▇ Fargo Bank, National Association 15% $ 30,000,000 Wachovia Bank, National Association 15% $ 30,0...
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Specified Senior Indebtedness. The Indebtedness of the Borrower constitutes “Senior Indebtedness” as defined in the Second Lien Term Loan Documents.” 2.6 Amendment to Section 9.02(g). Section 9.02(g) is hereby amended by replacing “$100,000,000” with “$75,000,000”. 2.7 Amendment to Section 9.04(b). Section 9.04(b)(iii) is hereby amended and restated in its entirety as follows:
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Specified Senior Indebtedness. The Parties acknowledge and agree that the Indebtedness hereunder is specifically designated "Specified Senior Indebtedness" the Second Lien Term Loan Documents.
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Related to Specified Senior Indebtedness

  • Designated Senior Indebtedness The Loan Documents and all of the Obligations have been deemed “Designated Senior Indebtedness” or a similar concept thereto, if applicable, for purposes of any other Indebtedness of the Loan Parties.

  • Default on Senior Indebtedness The Company may not pay the principal of, or premium, if any, or interest on, the Subordinated Securities or make any deposit in trust under Article IV or XIII and may not repurchase, redeem or otherwise retire (except, in the case of Subordinated Securities that provide for a mandatory sinking fund pursuant to Article XII by the delivery of Subordinated Securities by the Company to the Trustee pursuant to Section 12.03) any Securities (collectively, “pay the Subordinated Securities”) if any principal, premium or interest or other amount payable in respect of Senior Indebtedness is not paid within any applicable grace period (including at maturity) or any other default on Senior Indebtedness occurs and the maturity of such Senior Indebtedness is accelerated in accordance with its terms unless, in either case, the default has been cured or waived and any such acceleration has been rescinded or such Senior Indebtedness has been paid in full in cash; provided, however, that the Company may make payments on the Subordinated Securities without regard to the foregoing if the Company and the Trustee receive written notice approving such payment from the Representative of each issue of Designated Senior Indebtedness. During the continuance of any default (other than a default described in the preceding sentence) with respect to any Senior Indebtedness pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration) or the expiration of any applicable grace periods, the Company may not make payments on the Subordinated Securities for a period (a “Payment Blockage Period”) commencing upon the receipt by the Company and the Trustee of written notice of such default from the Representative of any Designated Senior Indebtedness specifying an election to effect a Payment Blockage Period (a “Blockage Notice”) and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, by repayment in full in cash of such Designated Senior Indebtedness or because the default giving rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section 14.03), unless the holders of such Designated Senior Indebtedness or the Representative of such holders shall have accelerated the maturity of such Designated Senior Indebtedness, the Company may resume payments on the Subordinated Securities after such Payment Blockage Period. Not more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the number of defaults with respect to any number of issues of Senior Indebtedness during such period. For purposes of this Section 14.03, no default or event of default that existed or was continuing on the date of the commencement of any Payment Blockage Period with respect to the Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days.

  • Senior Indebtedness Status The Obligations of each Credit Party under this Agreement and each of the other Financing Documents ranks and shall continue to rank at least senior in priority of payment to all Debt that is contractually subordinated to the Obligations of each such Person under this Agreement and is designated as “Senior Indebtedness” (or an equivalent term) under all instruments and documents, now or in the future, relating to all Debt that is contractually subordinated to the Obligations under this Agreement of each such Person.

  • Effect on Senior Indebtedness No supplemental indenture shall adversely affect the rights of any holder of Senior Indebtedness under Article Sixteen without the consent of such holder.

  • Senior Indebtedness The Loans, the Obligations and the Guaranteed Obligations constitute “senior indebtedness” (or any other similar or comparable term) under and as defined in the documentation governing any Indebtedness of the Credit Parties that is subordinated in right of payment to any other Indebtedness thereof.