Common use of First Lien Indebtedness Clause in Contracts

First Lien Indebtedness. The Obligations (other than Obligations in respect of the Tranche C-2A Term Loans, Tranche C-2B Term Loans, the Tranche C-5A Term Loans, the Tranche C-5B Term Loans, the Tranche C-6A Term Loans, the Tranche C-6B Term Loans, the Tranche C-7A Term Loans and the Tranche C-7B Term Loans) constitute (i) “First-Lien Indebtedness” (or the equivalent thereof) under and as defined in the Existing Second Lien Intercreditor Agreement, the New 1-1/2 Lien Intercreditor Agreement and each other Intercreditor Agreement entered into by the Administrative Agent and a representative of the holders of Indebtedness secured by Liens pursuant to Section 6.02(w) or Section 6.02(ii)(x)(A) or (y) and (ii) “First-Priority Lien Obligations” (or the equivalent thereof) under the Existing Second Secured Notes Documents and the New 1-1/2 Lien Notes Documents and with respect to any Permitted Refinancing Indebtedness with respect to the Existing Second Secured Notes or the New 1-1/2 Lien Notes, and with respect to any Indebtedness secured by Liens pursuant to Section 6.02(w) or Section 6.02(ii)(x)(A).

Appears in 2 contracts

Sources: Incremental Assumption Agreement (Momentive Specialty Chemicals Inc.), Amendment Agreement (Hexion Specialty Chemicals, Inc.)