ABL Second Priority Lien definition

ABL Second Priority Lien the security interest in the Term Loan/Euro RCF Priority Collateral as granted or purported to be granted pursuant to the ABL Security Agreements.
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Examples of ABL Second Priority Lien in a sentence

  • Subject to Section 4.6(b), the Term Loan/Euro RCF Collateral Agent further covenants and agrees that after payment in full in cash of the Term Loan/Euro RCF Obligations, the Term Loan/Euro RCF Collateral Agent shall take all actions and do all things reasonably requested by the ABL Administrative Agent to promptly transfer or assign any Term Loan/Euro RCF Priority Collateral (or interest therein) to the ABL Administrative Agent for the purpose of perfecting and protecting the ABL Second Priority Lien.

  • This Agreement is intended solely for the purpose of defining the relative rights of the Term Loan/Euro RCF Collateral Agent and the Term Loan/Euro RCF Secured Parties, on the one hand, and the ABL Administrative Agent and the ABL Secured Parties, on the other hand, in respect of (i) the subordination of the ABL Second Priority Lien to the Term Loan/Euro RCF First Priority Lien and (ii) the subordination of the Term Loan/Euro RCF Second Priority Lien to the ABL First Priority Lien.