Additional Senior Priority Debt definition
Additional Senior Priority Debt means any Indebtedness that is Incurred or guaranteed by the Borrower, Holdings and/or any other Guarantor (other than Indebtedness constituting First Lien Credit Agreement Obligations), which Indebtedness and Guarantees are secured by Liens on the Senior Priority Collateral (or a portion thereof) having a priority ranking (but without regard to control of remedies) that is senior to the Liens on the Second Priority Collateral securing the Second Priority Debt Obligations; provided, however, that (a) such Indebtedness is permitted to be Incurred, secured and guaranteed on such basis by each Senior Priority Debt Document and Second Priority Debt Document and (b) the Representative for the holders of such Indebtedness shall have become party to (i) this Agreement pursuant to, and by satisfying the conditions set forth in, Section 8.09 hereof and (ii) the First Lien Intercreditor Agreement pursuant to, and by satisfying the conditions set forth in, Section 5.13 thereof (or any equivalent Section); provided, further, that, if such Indebtedness will be the initial Additional Senior Priority Debt incurred by the Borrower after the Closing Date, then the Guarantors, the First Lien Administrative Agent and the Representative for such Indebtedness shall have executed and delivered the First Lien Intercreditor Agreement. Additional Senior Priority Debt shall include any Registered Equivalent Notes and Guarantees thereof by the Guarantors issued in exchange therefor.
Additional Senior Priority Debt means Additional Debt, the obligations of which are, or are intended to be, secured by Liens on the Collateral that rank equal in priority (without regard to the control of remedies) with the obligations under the Senior-Priority Non-ABL Loan Agreement, the 2021 Secured Notes Indenture and the 2023 Secured Notes Indenture.
Additional Senior Priority Debt means any Indebtedness that is issued or guaranteed by the Borrowers, Holdings and/or any other Guarantor (other than Indebtedness constituting Senior Secured Credit Agreement Obligations or TLB Proceeds Loan Obligations relating to the Senior Secured Credit Agreement Obligations) which Indebtedness and guarantees are secured by Liens on the Senior Priority Collateral (or a portion thereof) having the same priority (but without regard to control of remedies) as the Liens securing the Senior Secured Credit Agreement Obligations and any other Senior Priority Obligations; provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each then extant Senior Priority Debt Document and Non-Senior Priority Debt Document and (ii) the Representative for the holders of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying the conditions set forth in, Section 15.09 hereof. Additional Senior Priority Debt shall include any Registered Equivalent Notes and guarantees thereof by the Grantors issued in exchange therefor.
Examples of Additional Senior Priority Debt in a sentence
To the extent, but only to the extent, permitted by the provisions of the Senior Priority Debt Documents and the Second Priority Debt Documents then in effect, any Grantor may incur or issue and sell one or more series or classes of Additional Second Priority Debt and one or more series or classes of Additional Senior Priority Debt.
More Definitions of Additional Senior Priority Debt
Additional Senior Priority Debt means any Indebtedness (including any Permitted Incremental Equivalent Debt and any Credit Agreement Refinancing Indebtedness, in each case, that constitutes Permitted Pari Passu Debt (in each case as defined in the First Lien Credit Agreement as of the date hereof)) that is issued or guaranteed by the Borrower, Holdings and/or any other Grantor (other than Indebtedness constituting First Lien Credit Agreement Obligations) which Indebtedness and Guarantees are secured by Liens on the Senior Priority Collateral (or a portion thereof) having the same priority (but without regard to control of remedies) as the Liens securing the First Lien Credit Agreement Obligations and any other Additional Senior Priority Debt, in each case, then outstanding (including, for the avoidance of doubt, any such Indebtedness that Refinances (x) the Indebtedness outstanding under the First Lien Credit Agreement and (y) Permitted Incremental Equivalent Debt and Credit Agreement Refinancing Indebtedness, in each case, that constitutes Permitted Pari Passu Debt (in each case as defined in the First Lien Credit Agreement as of the date hereof)); provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each Senior Priority Debt Document and Second Priority Debt Document, (ii) the conditions set forth in Section 8.09 hereof shall have been satisfied with respect to such Indebtedness, (iii) the Grantors shall have granted Senior Liens on the Senior Priority Collateral to secure such Indebtedness and (iv) the Representative for the holders of such Indebtedness shall have become party to (A) this Agreement pursuant to Section 8.09 hereof and (B) the First Lien Intercreditor Agreement; provided, further, that, if such Indebtedness will be the initial Additional Senior Priority Debt incurred after the date hereof and another Senior Priority Debt Facility remains outstanding after the incurrence of such Additional Senior Priority Debt, then the Grantors, the First Lien Collateral Agent and the Representative for such Indebtedness shall have executed and delivered the First Lien Intercreditor Agreement. Additional Senior Priority Debt shall include any Registered Equivalent Notes and Guarantees thereof by the Grantors issued in exchange therefor.
Additional Senior Priority Debt means any Indebtedness that is Incurred or guaranteed by the Borrower, Holdings and/or any other Guarantor (other than Indebtedness constituting First Lien Credit Agreement Obligations), which Indebtedness and Guarantees are secured by Liens on the Senior Priority Collateral (or a portion thereof) having the same priority ranking (but without regard to control of remedies) as the Liens on the Senior Priority Collateral securing the First Lien Credit Agreement Obligations; provided, however, that (a) such Indebtedness is permitted to be Incurred, secured and guaranteed on such basis by each Senior Priority Debt Document and Second Priority Debt Document and (b) the Representative for the holders of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying the conditions set forth in, Section 8.09 hereof.
Additional Senior Priority Debt means Additional Debt, the obligations of which are, or are intended to be, secured by Liens on the Collateral that rank equal in priority (without regard to the control of remedies) with the obligations under the 2025 Secured Notes Indenture, the 2025 Secured Notes, the 2026 Secured Notes Indenture, the 2026 Secured Notes, the March 2027 Secured Notes Indenture, the March 2027 Secured Notes, the December 2027 Secured Notes Indenture, the December 2027 Secured Notes, the 2029 Senior-Priority Secured Notes Indenture, the 2029 Senior-Priority Secured Notes, the 2030 Senior-Priority Secured Notes Indenture, the 2030 Senior-Priority Secured Notes, the 2031 Secured Notes Indenture and the 2031 Secured Notes.
Additional Senior Priority Debt means any Indebtedness that is Incurred or guaranteed by the Borrower and/or any Guarantor (other than Indebtedness constituting Senior Credit Agreement Obligations and Senior Indenture Obligations), which Indebtedness and Guarantees are secured by Liens on the Senior Priority Collateral (or a portion thereof) having a priority ranking that is senior to the Liens on the Junior Priority Collateral securing the Junior Priority Obligations; provided, however, that (a) such Indebtedness is permitted to be Incurred, secured and guaranteed on such basis by each Senior Priority Debt Document and Junior Priority Debt Document then in effect and (b) the Representative for the holders of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying the conditions set forth in, Section 8.09 hereof and Section 5.13 of the First Lien Intercreditor Agreement.