Senior Claims

Senior Claims. Means the principal of, and premium, if any, and all interest on, all indebtedness, obligations and liabilities of the Company, whether now existing or hereafter incurred or created, except for such indebtedness, obligations or liabilities as shall be expressly designated as ranking pari passu with or junior to Junior Claims. "Senior Claims" shall include all indebtedness, obligations and liabilities of the Company under or with respect to any Senior Document. "Senior Claims" shall not include... (i) accounts payable or other similar accrued liabilities in respect of obligations or indebtedness to trade creditors created, assumed or guaranteed by the Company in the ordinary course of business in connection with obtaining property or services, (ii) accrued commissions and (iii) other similar accrued current liabilities in respect of such obligations, in any case, not overdue, arising in the ordinary course of business. View More