Junior Liabilities

Junior Liabilities. Means all Liabilities to any of the Junior Creditors from time to time outstanding pursuant to the Junior Loan Documents (including, without limitation, all principal, interest, fees, Liabilities relating to or arising out of any warrants or other any equity interests in any Debtor, Liabilities arising out of any guarantees, and all indemnities, costs, and expenses).

Junior Liabilities. The principal of and interest on the indebtedness evidenced by the Subordinated Note and any note issued in renewal thereof or substitution therefor and all other indebtedness, obligations and liabilities of PXP to PLIC arising under the Subordinated Loan Agreement as the same may from time to time be amended or modified.