Common use of First Priority Obligations Clause in Contracts

First Priority Obligations. For the avoidance of doubt, the Obligors represent, warrant and agree that the Hedge Obligations constitute “Obligations” under the Loan Agreement and “First Priority Claims” under and as defined in the Intercreditor Agreement, the 2010 Indenture and the 2015 Indenture and that the Hedge Security Agreement constitutes a “First Priority Collateral Documents”under and as defined in the Intercreditor Agreement.

Appears in 1 contract

Sources: Second Amendment Agreement (Residential Capital, LLC)

First Priority Obligations. For the avoidance of doubt, the Obligors represent, warrant and agree that the Hedge Obligations constitute “Obligations” under the Loan Agreement and “First Priority Claims” under and as defined in the Intercreditor Agreement, the 2010 Indenture and the 2015 Indenture and that the Hedge Security Agreement constitutes a “First Priority Collateral Documents”under Documents“under and as defined in the Intercreditor Agreement.

Appears in 1 contract

Sources: First Amendment Agreement (Residential Capital, LLC)