Rights As Unsecured Creditors definition

Rights As Unsecured Creditors. Except as otherwise set forth in “Enforcement” above, the Second Lien Secured Parties may exercise rights and remedies as unsecured creditors against the Company.
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Rights As Unsecured Creditors. Subject to customary restrictions with respect to the exercise of the First Lien Parties’ rights and remedies under the First Lien Credit Documents, the Second Lien Secured Parties may exercise rights and remedies as unsecured creditors against the Obligors in accordance with the terms of the applicable Second Lien Credit Documents and applicable law; provided that any judgment lien that arises in favor of any Second Lien Party as a result of its enforcement of its rights as an unsecured creditor shall be subject to the terms of the Intercreditor Agreement.
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Examples of Rights As Unsecured Creditors in a sentence

  • Other Agreements 17 5.1 Releases 17 5.2 Insurance 19 5.3 Amendments to Second Lien Collateral Documents 19 5.4 Rights As Unsecured Creditors 20 5.5 First Lien Agent as Gratuitous Bailee/Gratuitous Agent for Perfection 20 5.6 [Reserved] 22 5.7 Reinstatement 22 5.8 Refinancings 22 SECTION 6.

  • Other Agreements 31 5.1. Releases 31 5.2. Insurance 33 5.3. Amendments to ABL Loan Documents and Term Loan Documents 34 5.4. Rights As Unsecured Creditors 36 5.5. First Priority Agent as Gratuitous Bailee for Perfection 37 5.6. Access to Premises and Cooperation 39 5.7. No Release If Event of Default; Reinstatement 41 5.8. Legends 41 Section 6.

  • OTHER AGREEMENTS 20 5.1 Releases 20 5.2 Insurance 21 5.3 Amendments to Junior Lien Obligations Collateral Documents 22 5.4 Rights As Unsecured Creditors 23 5.5 First Lien Obligations Representatives as Gratuitous Bailees/Gratuitous Agent for Perfection 23 5.6 [Reserved] 25 5.7 Reinstatement 25 5.8 Refinancings 25 SECTION 6.

  • SECTION 5.1 Releases 14 SECTION 5.2 Insurance 15 SECTION 5.3 Amendments to Second-Priority Collateral Documents 16 SECTION 5.4 Rights As Unsecured Creditors 17 SECTION 5.5 First-Priority Agent as Gratuitous Bailee/Agent for Perfection 17 SECTION 5.6 Second-Priority Agent as Gratuitous Bailee/Agent for Perfection 19 SECTION 5.7 When Discharge of First-Priority Obligations Deemed to Not Have Occurred 21 SECTION 5.8 No Release If Event of Default 21 ARTICLE VI Insolvency or Liquidation Proceedings.

  • Other Agreements 14 5.1 Releases 14 5.2 Insurance 15 5.3 Amendments to Second-Priority Collateral Documents 16 5.4 Rights As Unsecured Creditors 17 5.5 First-Priority Collateral Agent as Gratuitous Bailee/Agent for Perfection 18 5.6 Second-Priority Collateral Agent as Gratuitous Bailee/Agent for Perfection 19 5.7 When Discharge of First-Priority Obligations Deemed to Not Have Occurred 21 5.8 No Release If Event of Default 21 Section 6.

Related to Rights As Unsecured Creditors

  • Unsecured Creditors means all Creditors with Concurrent Claims against the Company;

  • General Unsecured Claims means any unsecured claim (other than an Administrative Claim, a Priority Tax Claim, an Other Priority Claim, a Prepetition Term Loan Claim, or an Intercompany Claim) against one or more of the Debtors including (a) Claims arising from the rejection of Unexpired Leases and Executory Contracts to which a Debtor is a party, and (b) Claims arising from any litigation or other court, administrative or regulatory proceeding, including damages or judgments entered against, or settlement amounts owing by a Debtor related thereto.

  • Unsecured Creditor means the holder of an Unsecured Claim.

  • General Unsecured Claim means any Claim that is not a/an: Administrative Claim; DIP Facility Claim; Professional Fee Claim; Priority Tax Claim; Secured Tax Claim; Other Priority Claim; Other Secured Claim; Intercompany Claim; Prepetition Debt Claim; or 510(b) Equity Claim.

  • Secured Creditors shall have the meaning assigned that term in the respective Security Documents.

  • Senior Secured Credit Agreement means that certain Credit Agreement, dated as of September 27, 2018, among the Borrowers, the lenders from time to time party thereto, JPMCB as administrative agent, JPMCB as collateral agent, and the other parties thereto, as amended, restated, amended, restated, extended, supplemented, refinanced or otherwise modified from time to time.

  • Allowed Unsecured Claim means all or that portion of an Unsecured Claim which is an Allowed Claim.

  • Secured Claims means Claims held by “secured creditors” as defined in the CCAA, including Construction Lien Claims, to the extent of the Allocated Value of the Property securing such Claim, with the balance of the Claim being a Deficiency Claim, and amounts subject to section 6(6) of the CCAA;

  • Subordinated Creditors means all creditors the indebtedness of which is subordinated, in the event of the Winding-Up of DSB, in right of payment to the claims of depositors and other unsubordinated creditors of DSB other than those whose claims rank or is expressed to rank by operation of law or contract pari passu with, or junior to, the claims of the Noteholders. For this purpose indebtedness shall include all liabilities, whether actual or contingent;

  • Required Secured Creditors means (i) at any time when any Credit Document Obligations are outstanding or any Commitments under the Credit Agreement exist, the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of the Lenders) and (ii) at any time after all of the Credit Document Obligations have been paid in full and all Commitments under the Credit Agreement have been terminated and no further Commitments may be provided thereunder, the holders of a majority of the Other Obligations.

  • Intercompany Loan Agreement has the meaning set forth in the Purchase and Sale Agreement.

  • Discharge of Senior Lender Claims means, except to the extent otherwise provided in Section 5.7 below, payment in full in cash (except for contingent indemnities and cost and reimbursement obligations to the extent no claim has been made) of (a) all Obligations in respect of all outstanding Senior Lender Claims and, with respect to letters of credit or letter of credit guaranties outstanding thereunder, delivery of cash collateral or backstop letters of credit in respect thereof in compliance with the Credit Agreement, in each case after or concurrently with the termination of all commitments to extend credit thereunder and (b) any other Senior Lender Claims that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid; provided that the Discharge of Senior Lender Claims shall not be deemed to have occurred if such payments are made with the proceeds of other Senior Lender Claims that constitute an exchange or replacement for or a refinancing of such Obligations or Senior Lender Claims. In the event the Senior Lender Claims are modified and the Obligations are paid over time or otherwise modified pursuant to Section 1129 of the Bankruptcy Code, the Senior Lender Claims shall be deemed to be discharged when the final payment is made, in cash, in respect of such indebtedness and any obligations pursuant to such new indebtedness shall have been satisfied.

  • Secured Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Loan Party and any Cash Management Bank.

  • Unsecured Claims means claims which are not secured by any property of the Debtor’s Estate and which are not part of any other class defined in this Plan.

  • Intercompany Subordination Agreement means an intercompany subordination agreement, dated as of even date with this Agreement, executed and delivered by each Loan Party and each of its Subsidiaries, and Agent, the form and substance of which is reasonably satisfactory to Agent.

  • Prepetition Credit Agreement has the meaning specified in the recitals hereto.

  • Second Lien Credit Agreement means the Second Lien Credit Agreement, dated as of the Effective Date, among Holdings, the Borrower, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent.

  • Credit Support Pledge Agreement The Credit Support Pledge Agreement, dated as of November 24, 1998, among the Master Servicer, GMAC Mortgage Corporation, Combined Collateral LLC and The First National Bank of Chicago (now known as Bank One, National Association), as custodian.

  • Senior Creditors means the Senior Agent, the Senior Lenders and any other Person who holds Senior Indebtedness.

  • Second Lien Notes Trustee “Second Lien Noteholder”, “High Yield Agent”, “HY Borrower”, “High Yield Creditor”, “High Yield Lender”, “Unsecured Agent”, “Unsecured Borrower”, “Unsecured Creditor”, “Unsecured Lender”, “Security Agent”, “Security Grantor”, “Senior Agent”, “Senior Arranger”, “Senior Borrower”, “Senior Creditor”, “Senior Guarantor”, “Senior Lender”, “Senior Secured Notes Guarantor”, “Senior Secured Notes Issuer”, “Senior Secured Notes Trustee”, “Senior Secured Noteholder”, “Subordinated Creditor”, “Permitted Affiliate Parent” or the “Company” shall be construed to be a reference to it in its capacity as such and not in any other capacity;

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Discharge of First Lien Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.

  • Pre-Petition Credit Agreement has the meaning assigned to such term in the Recitals.

  • Senior Subordinated Note Indenture the Indenture entered into by the Borrower and certain of its Subsidiaries in connection with the issuance of the Senior Subordinated Notes, together with all instruments and other agreements entered into by the Borrower or such Subsidiaries in connection therewith, as the same may be amended, supplemented or otherwise modified from time to time in accordance with Section 7.9.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • Subordination Agreement means any subordination or intercreditor agreement(s) entered into with respect to any subordinate financing related to the Project, as the same may be amended, supplemented or restated.