seniority

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Seniority

The order of repayment. In the event of bankruptcy, senior debt must be repaid before subordinated debt is repaid.

Absolute Priority

A rule stating that, in liquidation, certain creditors must be satisfied in full before any other creditors receive any payments. That is, in the liquidation of a company, the absolute priority rule states that holders of secured debt must be paid before holders of unsecured debt. Holders of unsecured debt have precedence over preferred shareholders, and, finally, preferred shareholders must be satisfied before common shareholders.

seniority

The condition or status of a security that has priority over other securities by the same issuer with respect to the payment of income (that is, interest or dividends) and repayment of principal. As an example, for the same issuer, bonds have seniority over preferred stock and preferred stock has priority over common stock. See also junior security.
References in periodicals archive ?
Senior Voice: Emily Goodwin, Wisconsin; Joyce Andrews, teacher
Ten senior centers throughout the Valley offer an array of classes, including Scottish and Hawaiian dancing at the Canoga Park Senior Center or Spanish lessons at the Robert M.
According to the stud% the average phone bill for senior mobile users is $41 a month, compared to a cross-generation average of $70.
Classic senior living misconceptions and current economic concerns must be addressed proactively now.
Senior Alteratives' mission has been to provide seniors, caregivers, and healthcare professionals with readily available, comprehensive resources for the growing options available in today's housing and healthcare markets," said Anita Kremer, president of Senior Alternatives for Living.
The local Senior Center was threatened with closure.
However, it decided to change this approach after studying successful senior citizen units, such as the Milwaukee, Wisconsin, Police Department's "Gray Squad.
During the early days of the legislative process, in 1987, the National Alliance of Senior Citizens, Inc.
This article reports the findings for the CEO questionnaire and responses to selected questions on the senior tax person questionnaire for those companies for which the CEO had responded.
50,000,000 student loan asset-backed notes, senior series 2005-A-3 (taxable), 'AAA';
Hale Irwin helps kick it off Thursday - eight days before his 60th birthday - when he opens his title defense in the Senior PGA Championship at Laurel Valley Golf Club in Ligonier, Pa.
The senior consumer's perceptions of value from a financial planning perspective is changing.