Senior Indebtedness

Senior Indebtedness. Means the principal of, premium, if any, and interest on, and any other payment due pursuant to the terms of an instrument (including, without limitation, fees, expenses, collection expenses (including attorneys'fees), interest yield amounts, post-petition interest (whether or not earned) and taxes) creating, securing or evidencing any of the following, whether outstanding on the date of this Agreement or thereafter incurred or created: (a) all indebtedness of the Company for money borrowed or... constituting reimbursement obligations with respect to letters of credit and interest or currency swap agreements including indebtedness secured by a mortgage, conditional sales contract or other lien which is (i) for money owing to banks, financial institutions or other recognized institutional lenders of funds or (ii) arising under a lease of property, equipment or other assets which indebtedness, pursuant to GAAP is classified upon the consolidated balance sheet of the Company and its Subsidiaries as a liability, unless in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such indebtedness is not superior in right of payment to the Note, and (b) renewals, extensions, modifications and refundings of such indebtedness. View More

Senior Indebtedness. Shall mean all Obligations of any kind owed by MRM, MG, Newco and their respective subsidiaries to the Debenture Holders from time to time under or pursuant to the Debentures and the related guarantees thereof including, without limitation, all principal, interest (including all interest accruing after commencement of any case, proceeding or other action relating to the bankruptcy, insolvency or reorganization of MRM at the rates set forth in the Debentures, whether or not allowed) accruing... thereon, premium, charges, expenses, fees and other sums chargeable to MRM, MG, Newco or any of their respective subsidiaries by the Debenture Holders, guarantee obligations and reimbursement, indemnity or other obligations due and payable to the Debenture Holders. Senior Indebtedness shall continue to constitute Senior Indebtedness, notwithstanding the fact that such Senior Indebtedness or any claim for such Senior Indebtedness is subordinated, avoided or disallowed under the applicable Bankruptcy Law or other applicable law; provided, however, that amounts other than principal, interest and premium shall constitute Senior Indebtedness only to the extent that (x) such amounts have accrued as of the end of the Subordination Period and (y) such amounts are, in the aggregate, less than $5.0 million. Senior Indebtedness shall not include any obligations of any kind owed to the RHINOS Holder pursuant to the RHINOS Debentures or the Securities Purchase Agreement. View More

Senior Indebtedness. Shall mean any and all obligations of any kind owed by Debtor Parties to Bank from time to time, including but not limited to all obligations of Debtor Parties to Bank under or pursuant to any of the Senior Lending Agreements (including any and all obligations arising out of any extension, refinancing, replacement or refunding thereof), up to a maximum principal amount of $2,500,000, plus all interest accruing thereon (including all interest accruing after the commencement of any case,... proceeding or other action relating to the bankruptcy, insolvency or reorganization of any Debtor Party, whether or not a claim for such interest is allowed in such case, proceeding or other action), charges, expenses, fees and other sums chargeable to Debtor Parties by Bank, and any reimbursement, indemnity or other obligations due and payable to Bank. View More

Senior Indebtedness. Shall mean (a) all principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company whether or not a claim for post-filing interest is allowed or allowable in any such proceedings), fees, charges, expenses, indemnification and reimbursement obligations of any kind and nature now existing or hereinafter arising, of the Company and all other amounts payable under or in respect of the Credit... Documents and (b) all -2- principal, premium (if any) and interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company whether or not a claim for post-filing interest is allowed or allowable in any such proceedings), fees, charges, expenses, liquidated damages, indemnification and reimbursement obligations of any kind and nature now existing or hereinafter arising and all other amounts payable under or in respect of the High Yield Notes. View More

Senior Indebtedness. For the avoidance of doubt and notwithstanding any other provision of this Indenture, the "Exit Financing" (as such term is used in the Plan) shall be considered a refinancing or refunding of Indebtedness of the Company existing as of the date of the Indenture such that the Exit Financing shall be considered part of the Senior Indebtedness.

Senior Indebtedness. Means the principal of, premium, if any, interest on ------------------- (including any interest accruing after the filing of a petition by or against the Company under any bankruptcy law, whether or not allowed as a claim after such filing in any proceeding under such bankruptcy law) and any other payment obligation of the Company under the Company Credit Agreement or any related notes, guarantees, collateral documents, instruments, and agreements executed in connection therewith, and in... each case as amended, modified, renewed, refunded, replaced or refinanced from time to time with the same Lenders or one or more new commercial banks, provided, however, that (A) the amount of Senior -------- ------- Indebtedness shall not exceed $85,000,000 in the aggregate, (B) that in no event shall the aggregate amount of Senior Indebtedness exceed fifty percent (50%) of the Company's then market capitalization; and (C) in order for any such obligation (other than pursuant to the Company Credit Agreement) to be considered "Senior Indebtedness," the terms of the contract, instrument or other agreement shall not expressly restrict the delivery of a Repurchase Notice by any holder hereof or the payment of the (1) Repurchase Price (or other amounts payable to holder) upon exercise of the holder's rights (voluntarily or automatically) under Section 3 herein, (2) cash for NASD Excess Shares or HSR Excess Shares under Section 2(a)(6)(iv) or 2(a)(7)(v), respectively, herein, and/or (3) any regularly scheduled payment of principal or interest on this Security, other than under the circumstances described in Section 7 hereof. View More

Senior Indebtedness. Means the principal of, premium, if any, interest on ------------------- (including any interest accruing after the filing of a petition by or against the Company under any bankruptcy law, whether or not allowed as a claim after such filing in any proceeding under such bankruptcy law) and any other payment obligation of the Company under the Company Credit Agreement or any related notes, guarantees, collateral documents, instruments, and agreements executed in connection therewith, and in... each case as amended, modified, renewed, refunded, replaced or refinanced from time to time with the same Lenders or one or more new commercial banks, provided, however, that (A) the principal amount of Senior -------- ------- Indebtedness shall not exceed $85,000,000 in the aggregate, and (B) in order for any such obligation (other than pursuant to the Company Credit Agreement) to be considered "Senior Indebtedness," the terms of the contract, instrument or other agreement shall not expressly restrict the delivery of a Repurchase Notice by any holder hereof or expressly provide for a breach or violation thereof based solely on the payment of the (1) Repurchase Price (or other amounts payable to holder) upon exercise of the holder's rights (voluntarily or automatically) under Section 3 herein, (2) cash for NASD Excess Shares or HSR Excess Shares under Section 2(a)(6)(iv) or 2(a)(7)(v), respectively, herein, and/or (3) any regularly scheduled payment of principal or interest on this Security, other than under the circumstances described in Section 7 hereof, unless, in each case, there exists or would otherwise exist upon such payment a default thereunder; provided, however, that if a default does not exist, the Company -------- ------- shall make such payment (or portion thereof) to the extent that such payment will not result in a default thereunder. For the avoidance of doubt, it is agreed that no covenant, agreement or restriction contained therein requiring or relating to minimum (or maximum) financial tests, levels or ratios, which could be breached or violated as a -26- result of such delivery or payment depending on circumstances then existing shall be deemed to expressly restrict such delivery or provide for a breach or violation thereof based solely upon such payment. View More

Senior Indebtedness. Means the principal, premium, if any, and unpaid interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company whether or not a claim for post-filing interest is allowed in such proceeding, including interest that would have accrued but for the filing), fees, charges, expenses, reimbursement and indemnification obligations, and all other amounts payable under or in respect of Indebtedness of the Company, ... whether any such Indebtedness exists as of the date of this Indenture or shall hereafter be created, incurred, assumed or guaranteed, as may be amended from time to time and any renewals, extensions, refundings, refinancings, amendments and modifications of any such indebtedness or obligations or of the instruments creating or evidencing such indebtedness or obligations or guarantees; provided, however, that Senior Indebtedness shall not include (i) Indebtedness owed to a Subsidiary, (ii) Indebtedness of the Company which is expressly pari passu to this Note or (iii) Subordinated Indebtedness. View More

Senior Indebtedness. Shall mean (a) the principal of all Indebtedness for Borrowed Money of the Company and its Subsidiaries to banks, insurance companies or other financial institutions, (b) the present value of net minimum lease payments of all leases under which the Company or any of its Subsidiaries is the lessee and which are required to be capitalized under generally accepted accounting principles, (c) the principal of all indebtedness of the Company or any of its Subsidiaries ... under installment purchase agreements, and (d) the principal of all indebtedness of the Company or any of its Subsidiaries to the owners of any real property leased by the Company for leasehold improvements financed by such owners. View More

Senior Indebtedness. Means the senior secured term loan in the amount of CAD$5,000,000 owed to Crown Life Insurance Company pursuant to a loan agreement dated December 17, 2004.