Debt that takes priority over other unsecured or more junior debt owed by the Borrower. Senior debt has greater seniority for purposes of repayment in the Borrower’s capital structure than subordinated debt. In the event the Borrower becomes bankrupt, senior debt is typically entitled to repayment before other creditors receive any payment. Pertains to debt.
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by bsmith@carofin.com | Mar 8, 2019
