Discharge of Term Obligations definition

Discharge of Term Obligations means the payment in full in cash of all outstanding Term Obligations (other than contingent indemnity obligations with respect to then unasserted claims).

Discharge of Term Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.

Discharge of Term Obligations has the meaning given to such term in the ABL Intercreditor Agreement.

Examples of Discharge of Term Obligations in a sentence

• This Agreement is a continuing agreement and shall (a) remain in full force and effect until the Discharge of ABL Obligations and the Discharge of Term Obligations shall have occurred, (b) be binding upon the Parties and their successors and assigns, and (c) inure to the benefit of and be enforceable by the Parties and their respective successors, transferees and assigns.

• Until the Discharge of Term Obligations has occurred, the ABL Agent, on behalf of itself and the ABL Secured Parties, agrees not to seek relief from the automatic stay or any other stay in any Insolvency Proceeding in respect of any portion of the Term Priority Collateral without the Term Agent’s express written consent.

• Upon the Discharge of Term Obligations, the Term Agent shall deliver to the ABL Agent or shall execute such documents as the ABL Agent may reasonably request (at the expense of the relevant Loan Parties) to enable the ABL Agent to have control over any Control Collateral still in the Term Agent’s possession, custody or control in the same form as received with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct.

• This Agreement is a continuing agreement and shall (a) remain in full force and effect until the Discharge of Revolving Obligations and the Discharge of Term Obligations shall have occurred, (b) be binding upon the Parties and their successors and assigns, and (c) inure to the benefit of and be enforceable by the Parties and their respective successors, transferees and assigns.

• The ABL Agent, for and on behalf of itself and the ABL Credit Parties, agrees that no payment to the Term Agent or any Term Credit Party pursuant to the provisions of this Agreement shall entitle the ABL Agent or any ABL Credit Party to exercise any rights of subrogation in respect thereof until the Discharge of Term Obligations shall have occurred.

More Definitions of Discharge of Term Obligations

Discharge of Term Obligations means, except to the extent otherwise provided in Section 2.4(f), the occurrence of all of the following:

Discharge of Term Obligations means the time at which all the Term Obligations (other than (i) contingent obligations as to which no claim has been asserted by the Person entitled thereto, (ii) Secured Hedge Obligations (as defined in the Term Credit Agreement) and (iii) Secured Cash Management Obligations (as defined in the Term Credit Agreement)) have been paid in full in cash and all Commitments (as defined in the Term Credit Agreement or any Additional Term Debt Agreement, as applicable) have been terminated.

Discharge of Term Obligations means the time at which both the Discharge of First Lien Term Obligations and Discharge of Second Lien Term Obligations shall have occurred.

Discharge of Term Obligations shall have the meaning provided in the Intercreditor Agreement.

Discharge of Term Obligations means, except to the extent otherwise expressly provided in Sections 5.5 and 6.7:

Discharge of Term Obligations means the payment in full in cash of all outstanding Term Obligations (other than contingent indemnity obligations with respect to then unasserted claims). If the Loan Parties enter into any refinancing of the Term Obligations (including, without limitation by the provision of DIP Financing in any Insolvency Proceeding of the Loan Parties), then the Discharge of Term Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement.

Discharge of Term Obligations shall have the meaning assigned that term in the Intercreditor Agreement.