Term Loan Priority Collateral definition

Term Loan Priority Collateral as defined in the Intercreditor Agreement.

Term Loan Priority Collateral shall have the meaning assigned to such term in the ABL/Term Loan Intercreditor Agreement.

Term Loan Priority Collateral has the meaning assigned to such term in the Intercreditor Agreement (it being understood and agreed that any time the Revolving Loan Facility is not in effect, the term "Term Loan Priority Collateral" shall mean all Collateral).

Examples of Term Loan Priority Collateral in a sentence

• Each Lender acknowledges that such Intercreditor Agreement governs, among other things, Lien priorities and rights of the Lenders and the secured parties with respect to any Permitted Term Loans with respect to the Collateral, including the Term Loan Priority Collateral.

• Also, if granting a security interest in any after-acquired property which constitutes Term Loan Priority Collateral or ABL Priority Collateral requires the consent of a third party, the Issuer shall use commercially reasonable efforts to obtain such consent with respect to the security interest for the benefit of the Notes Collateral Agent on behalf of the Trustee and the Holders of the Notes.

• In connection with a future Permitted Term Loan permitted under this Agreement, the Credit Parties irrevocably authorize and direct the Administrative Agent, to subordinate any Lien on any Term Loan Priority 130 Collateral granted to or held by the Administrative Agent under any Loan Document to Permitted Term Loan Liens on Term Loan Priority Collateral.

More Definitions of Term Loan Priority Collateral

Term Loan Priority Collateral as defined in the ABL/Term Loan Intercreditor Agreement, whether or not the same remains in full force and effect.

Term Loan Priority Collateral means all Collateral other than ABL Priority Collateral.

Term Loan Priority Collateral means all Collateral).

Term Loan Priority Collateral means all Collateral other than Revolving Credit Priority Collateral. Without limitation of the foregoing, property not of a type described in the definition of “Revolving Credit Priority Collateral,” and acquired by an Obligor, or created, after the commencement of an Insolvency Proceeding with respect to such Obligor, and which, but for the application of Section 552 of the Bankruptcy Code, would constitute Collateral, shall, for the purposes of this Agreement, nonetheless constitute “Term Loan Priority Collateral.” Notwithstanding the foregoing, in no event shall property that is otherwise Term Loan Priority Collateral constitute Revolving Credit Priority Collateral due to the fact that it was acquired by the Company or any other Obligor with the Proceeds of Revolving Credit Priority Collateral.

Term Loan Priority Collateral means all Collateral, other than the ABL Priority Collateral, including all Real Property, Equipment, Intellectual Property and Capital Stock of any direct or indirect Subsidiaries of Holdings, collateral security and guarantees with respect to any Term Loan Priority Collateral and all cash, Money, instruments, securities, financial assets and deposit accounts directly received as Proceeds of any Term Loan Priority Collateral; provided, however, no Proceeds of Proceeds will constitute Term Loan Priority Collateral unless such Proceeds of Proceeds would otherwise constitute Term Loan Priority Collateral or are credited to any Asset Sales Proceeds Account, provided, further that under no circumstance shall Excluded Assets (as defined in the next succeeding sentence) be Term Loan Priority Collateral. As used in this definition of “Term Loan Priority Collateral,” the term “Excluded Assets” shall have the meaning provided (x) prior to the Discharge of Term Loan Obligations, in the Original Term Loan Credit Agreement (if the Original Term Loan Credit Agreement is then in effect), or in any other Additional Term Credit Facility then in effect (if the Original Term Loan Credit Agreement is not then in effect) or the Term Loan Collateral Documents relating thereto, and (y) from and after the Discharge of Term Loan Obligations, in the applicable Additional Term Credit Facility then in effect which is designated as applicable for the purposes of this definition or the Additional Term Collateral Documents relating thereto.

Term Loan Priority Collateral means any assets of the Borrower and the other Credit Parties and proceeds thereof that in each case do not constitute ABL Priority Collateral.

Term Loan Priority Collateral as defined in the Closing Date Intercreditor Agreement.