Discharge of First Priority Claims means, subject to Sections 7.2 and 7.4, the occurrence of all of the following:
Discharge of First Priority Claims means, except to the extent otherwise provided in Section 5.6, payment in full in cash of (a) the principal of and interest and premium, if any, on all Indebtedness outstanding under the First-Lien Credit Facilities or, with respect to letters of credit outstanding thereunder, delivery of cash collateral or backstop letters of credit in respect thereof in compliance with such First-Lien Credit Facilities, as applicable, in each case after or concurrently with termination of all commitments to extend credit thereunder and (b) any other First Priority Claims that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid.
Discharge of First Priority Claims has the meaning given to such term in the Intercreditor Agreement.
Examples of Discharge of First Priority Claims in a sentence
See Intercreditor Agreement, §6.2 (“Until the Discharge of First Priority Claims has occurred, each Subordinated Lien Debt Representative, on behalf of itself and each applicable Subordinated Lien Secured Party, agrees not to seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding…”) (emphasis added).
Meso level recommendations Too often language planning and language policy is categorised as either top-down (state level) or bottom-up (community), whereas there is a great scope for purposive planning at the meso level, namely the level of local government or regional health care services.
Schweitzer and Mr. Beck attended the Transportation Technical Advisory Committee (TTAC) meeting on February 13, 2017 regarding the State Road Project, State Road Interchange, and the Rohrerstown Road and Good Drive Traffic Study.
Hence, this approach boosts students to write as much as possible and as swiftly as possible without worrying about grammar and spelling mistakes because the emphasis is on fluency and content not on form and accuracy.
This means that there is no additional requirement for additional highway infrastructure or transport measures in order to accommodate the quantum of employment land identified in the Employment Land Local Plan.
More Definitions of Discharge of First Priority Claims
Discharge of First Priority Claims means, subject to Sections 6.01 and 6.02, (a) payment in full in cash of the principal of and interest (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such Insolvency or Liquidation Proceeding) and premium, if any, on all Indebtedness outstanding under the First Priority Debt Documents to the extent constituting First Priority Claims, (b) payment in full in cash of all other First Priority Claims that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid, (c) cancellation of or the entry into collateralization arrangements satisfactory to the First Priority Agent and the Issuing Bank with respect to all Letters of Credit issued and outstanding under the First Priority Debt Agreement, and (d) the termination or expiration of all commitments to lend and all obligations to issue or extend Letters of Credit under the First Priority Debt Agreement; provided, further, that, with respect to each First Priority Creditor’s First Priority Claims, the acceptance by such First Priority (in its absolute discretion) of non-cash consideration in exchange for its First Priority Claims (or applicable specified portion thereof), coupled with a written acknowledgment of discharge in form and substance satisfactory to such First Priority Creditor, shall also constitute, subject to Section 6.02, a Discharge of First Priority Claims only with respect to such exchanged First Priority Claims relating to such First Priority Creditor.
Discharge of First Priority Claims means the payment in full in cash of (a) the principal of and interest and premium, if any, on all Indebtedness outstanding under the First Priority Collateral Documents or, with respect to letters of credit outstanding thereunder, delivery of cash collateral or backstop letters of credit in respect thereof in compliance with the applicable First Priority Collateral Documents, in each case after or concurrently with termination of all commitments to extend credit thereunder and (b) any other First Priority Claims that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid.
Discharge of First Priority Claims means, subject to Sections 7.02 and 7.04, (a) payment in full in cash of the principal of and interest (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such Insolvency or Liquidation Proceeding) and premium, if any, on all Indebtedness then outstanding under the First Priority Debt Documents to the extent constituting First Priority Claims, (b) payment in full in cash of all other First Priority Claims that are then due and payable, (c) cancellation of or the entry into arrangements satisfactory to the First Priority Agent and the Issuing Bank with respect to all Letters of Credit issued and outstanding under the First Priority Debt Agreement and (d) termination or expiration of all commitments to lend and all obligations to issue or extend Letters of Credit under the First Priority Debt Agreement.
Discharge of First Priority Claims means, subject to Sections 7.02 and 7.04(a), (a) payment in full in cash of the principal of and interest (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such Insolvency or Liquidation Proceeding) and premium, if any, on all Indebtedness outstanding under the First Priority Debt Documents to the extent constituting First Priority Claims, (b) payment in full in cash of all other First Priority Claims that are due and payable (including, without limitation, the First Priority Cash Management Obligations and the First Priority Hedging Obligations) or otherwise accrued and owing at or prior to the time such principal and interest are paid, (c) cancellation of or the entry into arrangements satisfactory to the First Priority Agent and the Issuing Bank with respect to all Letters of Credit issued and outstanding under the First Priority Debt Agreement and (d) termination or expiration of all commitments to lend and all obligations to issue or extend Letters of Credit under the First Priority Debt Agreement.
Discharge of First Priority Claims means, subject to Sections 7.02(a) and 7.03(a), (a) payment in full in cash of the principal of and interest (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such Insolvency or Liquidation Proceeding) and premium, if any, on all Indebtedness outstanding under the First Priority Debt Documents to the extent constituting First Priority Claims, (b) payment in full in cash of all other First Priority Claims that are due and payable at or prior to the time such principal and interest are paid, (c) discharge or cash collateralization (at the lower of (i) 105% of the aggregate undrawn amount and (ii) the percentage of the aggregate undrawn amount required for release of liens under the terms of the applicable First Priority Debt Document) or the entry into arrangements satisfactory to the First Priority Agent and the issuing bank with respect to all letters of credit issued and outstanding under the First Priority Debt Agreement and (d) termination or expiration of all commitments to lend and all obligations to issue or extend letters of credit under the First Priority Debt Agreement.
Discharge of First Priority Claims means, subject to Sections 7.02 and 7.04(a), (a) payment in full in cash of the principal of and interest (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such Insolvency or Liquidation Proceeding) and premium, if any, on all Indebtedness, outstanding under the First Priority Debt Documents to the extent constituting First Priority Claims, (b) cancellation of or the entry into arrangements satisfactory to the First Priority Agent and the Issuing Bank with respect to all Letters of Credit issued and outstanding under the Amegy Debt Agreement, (c) termination or expiration of all commitments to lend and all obligations to issue or extend Letters of Credit under the Amegy Debt Agreement and (d) the payment of all Swap Obligations owing by the Company under the Swap Agreements.
Discharge of First Priority Claims means (a) the indefeasible payment in full in cash and discharge of all outstanding First Priority Lien Debt and all other First Priority Claims that are due and payable or otherwise outstanding at or prior to the time the First Priority Lien Debt is paid in full and discharged; and (b) termination or expiration of all commitments to extend credit under all First Priority Lien Debt Documents and the cancellation or termination or cash collateralization of all outstanding letters of credit pursuant to Section 2.4(h) of the Credit Agreement and bankers' acceptances issued pursuant to any First Priority Lien Debt Documents.