Term Loan Priority Collateral Sample Clauses
Term Loan Priority Collateral. (i) Prior to the Discharge of Term Loan Obligations, any Term Loan Priority Collateral or proceeds thereof including (x) whatever is recoverable or recovered when any Term Loan Priority Collateral is sold, exchanged, collected, or disposed of, whether voluntarily or involuntarily (including any additional or replacement Term Loan Priority Collateral provided during any Insolvency Proceeding and any payment or property received during an Insolvency Proceeding or otherwise) on account of, or from, Term Loan Priority Collateral, an interest in the Term Loan Priority Collateral or the value of any Term Loan Priority Collateral and (y) any distribution received in respect of any of the foregoing or in respect of any Lien on any Term Loan Priority Collateral or any “secured claim” within the meaning of section 506(a) of the Bankruptcy Code to the extent such claim is secured by Term Loan Priority Collateral, received by the ABL Agent, any ABL Secured Party, the Notes Agent, or any Notes Secured Party in connection with the Exercise of Any Secured Creditor Remedy relating to the Term Loan Priority Collateral or otherwise (including as a result of misdirected proceeds) shall be segregated and held in trust for the benefit of and forthwith paid over to the Term Loan Agent (and/or its designees) for the benefit of the Term Loan Secured Parties in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct. The Term Loan Agent is hereby authorized to make any such endorsements as agent for the ABL Agent, any such ABL Secured Party, the Notes Agent or any Notes Secured Party. This authorization is coupled with an interest and is irrevocable.
(ii) On and after the occurrence of the Discharge of Term Loan Obligations, any Term Loan Priority Collateral or proceeds thereof including (x) whatever is recoverable or recovered when any Term Loan Priority Collateral is sold, exchanged, collected, or disposed of, whether voluntarily or involuntarily (including any additional or replacement Term Loan Priority Collateral provided during any Insolvency Proceeding and any payment or property received during an Insolvency Proceeding or otherwise) on account of, or from, Term Loan Priority Collateral, an interest in the Term Loan Priority Collateral or the value of any Term Loan Priority Collateral and (y) any distribution received in respect of any of the foregoing or in respect of any Lien on any Term Loan Priority Collate...
Term Loan Priority Collateral. Exhibit B annexed hereto (which sets forth the Term Loan Priority Collateral), shall constitute Exhibit H to the Loan Agreement.
Term Loan Priority Collateral. 1. The Real Property located at ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇, Carlsbad, CA 92008. LOAN AND SECURITY AGREEMENT - SCHEDULE 1.2
I. Fundamental Information Natural Alternatives International, Inc ▇▇-▇▇▇▇▇▇▇ Delaware ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ ▇/▇
II. Equity Ownership
Term Loan Priority Collateral. The definition of “Term Loan Priority Collateral” as set forth in Section 1.01 of the Credit Agreement, is hereby amended and restated in its entirety as follows:
Term Loan Priority Collateral. Notwithstanding anything herein to the contrary, prior to the Discharge of Term Loan Obligations (as defined in the Intercreditor Agreement), the requirements of this Agreement to deliver or grant control over Term Loan Priority Collateral to Agent shall be deemed satisfied by delivery of or granting control over such Term Loan Priority Collateral to the Term Loan Agent as bailee for Agent pursuant to the Intercreditor Agreement.
Term Loan Priority Collateral. Notwithstanding anything contained in this Section 6, or elsewhere in this Agreement or any other Security Document, to the extent that the provisions of this Agreement (or any other Security Document) require the delivery of, or granting of control over, or giving notice with respect to any Term Loan Priority Collateral to the Collateral Agent, then delivery of such Collateral (or control or notice with respect thereto) shall instead be made to the Term Loan Agent, to be held in accordance with the Term Loan Documents or any collateral and/or security documents entered into in connection therewith and the Initial Intercreditor Agreement and any Grantor’s obligations hereunder with respect to such delivery, control or notice shall be deemed satisfied. Furthermore, at all times prior to the Discharge of Term Loan Obligations (as defined in the Initial Intercreditor Agreement), the Collateral Agent is authorized by the parties hereto to effect transfers of such Collateral at any time in its possession (and any “control” or similar agreements with respect to such Collateral) to the Term Loan Agent.
Term Loan Priority Collateral. Term Loan Priority Collateral shall mean the following: (a) The following equipment: Item: Serial Number: ▇▇▇▇▇▇▇▇ Roll Former: Stock Reel s/n 34843 Roller Str. s/n 34844 Feed Roll s/n 34846 Hyd. Punch/Notch s/n 34847 Roll Former s/n 34849 Hyd. Post Out s/n 34851 Heat Exchanger; Model RM-25 s/n 19253 Heat Exchanger; Model RM-25 s/n 19242 Amada Punch Line: Loader OL s/n - APC00006 Turret Punch 305072 s/n - AA570286 Un-loader UL410 s/n - APC00006
Term Loan Priority Collateral. Subject to the terms of the Intercreditor Agreement, the Credit Parties acknowledge and agree that any proceeds of Term Loan Priority Collateral shall be held in a segregated account prior to payment over to the Agent and Lenders (unless such proceeds are otherwise reinvested in accordance with the terms of the Credit Agreement).
Term Loan Priority Collateral