Total Senior Liabilities

Total Senior Liabilities. As used in this Agreement means the total of all items of indebtedness, obligation or liability which, in accordance with GAAP consistently applied, would be included in determining the total liabilities of Borrower as of the date of determination, including without limitation (a) all obligations secured by any mortgage, pledge, security interest or other lien on property owned or acquired by Borrower, whether or not the obligations secured thereby have been assumed by Borrower; (b) all... obligations which are capitalized lease obligations; and (c) all guaranties, endorsements or other contingent or surety obligations with respect to the indebtedness of others, whether or not reflected on the balance sheets of Borrower, but excluding therefrom Subordinated Debt and deferred revenue. View More

Total Senior Liabilities. Means, as of any date of determination, the amount of all liabilities that should be reflected as a liability on a consolidated balance sheet of Borrower and the Subsidiaries prepared in accordance with GAAP, less Subordinated Debt.

Total Senior Liabilities. Total liabilities less Subordinated Debt.