In addition, the first priority and second priority notes and the subsidiary guarantees will be senior secured obligations
and will rank senior in right of payment to all of BGI's and in the case of the guarantees, to all of the guarantors', existing and future subordinated debt or future debt that is subordinated in right of payment to the second priority notes.
These notes will be senior secured obligations
of the Issuer and will be guaranteed by Endo and certain of the latter's subsidiaries and will be secured by first priority liens on the same collateral that secures its obligations under its existing senior secured credit facilities and existing senior secured notes.
is a securitisation of mainly senior secured obligations
(at least 90%) with a component of senior unsecured, mezzanine, and second-lien loans.
The Notes are senior secured obligations
Air Canada's obligations under the credit facility are senior secured obligations
of Air Canada, secured on a first lien basis, subject to certain permitted liens and exclusions, by certain real estate interests, ground service equipment, certain airport slots and gate leaseholds, and certain Pacific routes and the airport slots and gate leaseholds utilized in connection with these Pacific routes.
Fitch understands that JAFZ has confirmed that its obligations under its undertaking to purchase will be its direct, unconditional and secured obligations
and will at all times rank pari passu with its other unsubordinated and secured obligations
from time to time outstanding.
The notes will be the senior secured obligations
of ILFC and will be guaranteed on a senior secured basis by certain of ILFCas wholly owned subsidiaries.
The senior secured notes will be senior secured obligations
of the airline.
The first lien notes will be senior secured obligations
of United, with the company's obligations under these notes guaranteed on a senior unsecured basis by UAL and certain of UAL's subsidiaries.
1996) (attorneys' fees paid out under a structured settlement were not funded or secured obligations
, but mere promises to pay and, thus, only taxable in the year of actual receipt).
The plan further suggests selling Asahi's collateral properties to help pay for its secured obligations
, worth 10.3 billion yen.
The Reg S/144A notes are senior secured obligations
and rank senior in right of payment to all existing and future senior indebtedness to the extent of the value of the collateral securing the notes.