Deed of Proceeds and Priorities definition

Deed of Proceeds and Priorities means the deed entitled "Trust Deed and Deed of Proceeds and Priorities" dated 28 January 2002 and made between (1) the Syndicate Banks, (2) the Arrangers, (3) the Facility Agent, (4) the Technical Bank, (5) the General Security Trustee, (6) the Credit Security Trustee, (7) the Facility Security Trustee, (8) Bluewater Holding B.V., Bluewater Energy Services B.V., Bluewater Offshore Production Systems Limited, Bluewater (Haewene Brim) N.V., Bluewater (Munin) N.V., Ranberger Holding N.V., Luludia Asset Finance B.V. and Xxxxxxx B.V. as borrowers and security parties, (9) Xxxxxxx Energy N.V., Bluewater (Haewene Brim) N.V., Bluewater (Floating Production) Limited, Bluewater (Glas Dowr) N.V., Bluewater (Malta) Limited, Bluewater (New Hull) N.V., Bluewater (UK) Limited, Bluewater Energy N.V., Bluewater Haewene Brim Equipment Leasing Limited, Bluewater Offshore Production Systems N.V., Bluewater Operations (UK) Limited, Bluewater Terminal Systems N.V., Bluewater Norway A.S., Lufeng Development Company ANS, Xxxxxx Production Company Limited, Bluewater Brasil LTDA., Bluewater Floating Productions B.V., Bluewater International B.V., Bluewater Offshore Production Systems Nigeria Limited, Bluewater Offshore Production Systems (USA) Inc., Bluewater Services (UK) Limited and Haewene Brim Standby Purchaser N.V. as guarantors and security parties; (10) the Bluewater Agent, (11) the Lessor, (12) the Standby Purchasers, (13) ING Bank N.V., acting through its Amsterdam head office as Haewene Brim Equipment account bank, and (14) ING Bank N.V., acting through its Amsterdam head office as security trustee account bank;
Sample 1Sample 2
Deed of Proceeds and Priorities means the trust deed and deed of proceeds and priorities dated 28 January 2003 between (1) the banks and financial institutions listed in schedule 1 thereto, (2) Barclays Bank PLC, acting through its investment banking division, Barclays Capital, as arranger, (3) Fortis Bank (Nederland) N.V., as arranger, (4) ING Bank N.V., as arranger, (5) ING Bank N.V., as facility agent, (6) Barclays Bank PLC, acting through its investment banking division, Barclays Capital, as technical bank, (7) Barclays Bank PLC, as general security trustee, (8) Barclays Bank PLC, as credit security trustee, (9) Barclays Bank PLC, as facility security trustee, (10) Bluewater Holding B.V., Bluewater Energy Services B.V., Bluewater Offshore Production Systems Limited, Bluewater (Haewene Brim) N.V., Bluewater (Munin) N.V., Ranberger Holding N.V., Luludia Asset Finance B.V. and Xxxxxxx B.V., as borrowers and security parties, (11) Xxxxxxx Energy N.V., Bluewater (Bleo Xxxx) N.V., Bluewater (Floating Production) Limited, Bluewater (Glas Dowr) N.V., Bluewater (Malta) Limited, Bluewater (New Hull) N.V., Bluewater (UK) Limited, Bluewater Energy N.V., Bluewater Equipment Leasing Limited, Bluewater Offshore Productions Systems N.V., Bluewater Operations (UK) Limited, Bluewater Terminal Systems N.V., Bluewater Norway ANS, Lufeng Development Company ANS, Xxxxxx Production Company Limited, Bluewater Brasil Ltda., Bluewater Floating Productions B.V., Bluewater International B.V., Bluewater Offshore Production Systems Nigeria Limited, Bluewater Offshore Productions System (USA) Inc., Bluewater Services (UK) Limited and Bleo Xxxx Standby Purchaser N.V., as guarantors and security parties, (12) Bluewater Energy Services B.V., as Bluewater agent, (13) Xxxx Xxxxxx Leasing (No. 4) Limited, as lessor, (14) Xxxxx Exploration Foundation, Ariel Exploration Foundation and Asterix Exploration Foundation, as Standby Purchasers, (15) ING Bank N.V., acting through its Amsterdam head office, as equipment account bank, and (16) ING Bank N.V., acting through its Amsterdam head office, as security trustee account bank, as from time to time amended and supplemented;
Sample 1Sample 2
Deed of Proceeds and Priorities or “DPP” means the deed of proceeds, priorities, undertakings and subordination entered into or to be entered into between the Beneficiaries, the Hedging Provider, the Account Bank, the Borrower and the Head Charterer, in the Agreed Form;
Sample 1

Examples of Deed of Proceeds and Priorities in a sentence

  • All moneys received by the Mortgagee in respect of any sale of the Vessel or collection under or in respect of any other part thereof shall be applied in the manner specified in clause 9 of the Deed of Proceeds and Priorities.

  • For the avoidance of doubt, each of the Beneficiaries acknowledges its recourse to the Borrower is limited as set out in clause 22 of the Deed of Proceeds and Priorities.

  • In the event of any conflict between this Agreement and any of the other Lease Documents, the provisions of this Agreement shall prevail, save as expressly agreed by the Lessor in the Deed of Proceeds and Priorities or the Recognition of Rights Deed, when the express terms of that other document shall prevail on the terms so agreed.

  • Notwithstanding the terms of clause 20.8 of the Deed of Proceeds and Priorities, each of the parties hereto hereby acknowledges and consents to the execution of the Standby Assignment by the Standby Purchaser in favour of the Standby Lender at such time as the Lessor exercises its Standby Put Option pursuant to the Standby Put Option Deed.

  • The provisions of clause 20 (Assignments and Transfers) of the Deed of Proceeds and Priorities shall be deemed to be incorporated herein as if set out in extenso.

  • Any capitalised term used in this Deed which is not defined in the Lease or specifically defined in this clause 1 shall bear the meaning attributed thereto in the Deed of Proceeds and Priorities and/or the Credit Agreement Supplemental Agreement.

  • Each of the parties hereto other than the Beneficiaries hereby acknowledges and consents to the Mortgage and each of the parties hereto agrees that this clause 3.4 shall (as between the parties to this Deed) apply to the Mortgage in place of clause 14.7 ( Mortgage) of the Deed of Proceeds and Priorities.

  • In lieu of the covenant set out in clause 14.8 (Registrations) of the Deed of Proceeds and Priorities, each party hereto covenants to the Lessor that it will not cause or consent to any registration of the interest of the Lessor in the Haewene Brim Equipment or the Haewene Brim in any official register in any jurisdiction without the prior written consent of the Lessor otherwise than as expressly contemplated by clause 3.1.5.

  • Schedule 3 Amendments A Definitions In each of schedule 2 to the Deed of Proceeds and Priorities and schedule 9 to the Credit Agreement: 1 The following definitions shall be deleted: Haewene Brim Topsides, Haewene Brim Topsides Financial Schedule and Haewene Brim Topsides Lease, and each reference in the Transaction Documents to any of those definitions shall be disregarded.

  • The Sub-Lessee undertakes not to remove or cover up such notice, and will not place or (save as required pursuant to the Deed of Proceeds and Priorities) permit to be placed any other notice (affecting the ownership of the Equipment or the FPSO or otherwise relating to the rights of the Standby Purchaser in or on the Equipment or the FPSO or any part thereof) without the prior written consent of the Standby Purchaser.


More Definitions of Deed of Proceeds and Priorities

Deed of Proceeds and Priorities has the meaning given to that term in the Project Loan Agreement;
Sample 1
Deed of Proceeds and Priorities means the trust deed and deed of proceeds and priorities referring to the Credit Agreement entered into between the Beneficiaries, the Original Obligors and the Bluewater Agent, in the Agreed Form;
Sample 1

Related to Deed of Proceeds and Priorities

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • Second Priority Documents means each Second Priority Agreement, each Second Priority Security Document and each Second Priority Guarantee.

  • First Priority Documents means the First Priority Agreement, each First Priority Security Document and each First Priority Guarantee.

  • Senior Collateral Documents means the Security Agreement and the other “Collateral Documents” as defined in the Credit Agreement, the First Lien Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Security Documents means the Security Agreement, the Mortgages, the Intellectual Property Security Agreement, the Pledge Agreement, the Facility Guarantee, and each other security agreement or other instrument or document executed and delivered pursuant to this Agreement or any other Loan Document that creates a Lien in favor of the Collateral Agent to secure any of the Obligations.

  • Priority Lien Security Documents means the Priority Credit Agreement (insofar as the same grants a Lien on the Collateral), each agreement listed in Part A of Exhibit B hereto, and any other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, control agreements, or grants or transfers for security, now existing or entered into after the date hereof, executed and delivered by the Borrower or any other Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Priority Lien Agent (including any such agreements, assignments, mortgages, deeds of trust and other documents or instruments associated with any Priority Substitute Credit Facility).

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • Second Priority Collateral Documents means the Noteholder Collateral Documents and any other agreement, document or instrument pursuant to which a Lien is now or hereafter granted securing any Second Priority Claims or under which rights or remedies with respect to such Liens are at any time governed.

  • Collateral Agency and Intercreditor Agreement means that certain Collateral Agency and Intercreditor Agreement, dated as of January 31, 2008 (as amended, amended and restated, supplemented or otherwise modified from time to time in compliance with the terms of this Indenture), by and among the Company, the other guarantors from time to time party thereto, the secured debt representatives and the Collateral Agent.

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

  • Credit Agreement Collateral Documents means the Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and each other agreement entered into in favor of the Credit Agreement Collateral Agent for the purpose of securing any Credit Agreement Obligations.

  • Second Lien Security Documents means the “Security Documents”, as defined in the Second Lien Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted to secure any Second Lien Obligations or under which rights or remedies with respect to any such Lien are governed.

  • Second Priority Liens means all Liens on the Second Lien Collateral to secure the Second Lien Obligations, whether created under the Second Lien Security Documents or acquired by possession, statute, operation of law, subrogation or otherwise.

  • Collateral Documents means, collectively, the Security Agreement, the Holdings Pledge Agreement, each of the Mortgages, collateral assignments, security agreements, pledge agreements, intellectual property security agreements or other similar agreements delivered to the Administrative Agent pursuant to Section 4.02, Section 6.11 or Section 6.13, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Collateral Agent for the benefit of the Secured Parties.

  • Real Property Security Documents means with respect to the fee interest of any Loan Party in any real property:

  • Lien Priority means with respect to any Lien of the ABL Secured Parties or the Term Secured Parties in the Collateral, the order of priority of such Lien as specified in Section 2.1.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Term Loan Security Documents means the “Security Documents” as defined in the Term Loan Credit Agreement.

  • Junior Lien Priority means relative to specified Indebtedness, having a junior Lien priority on specified Collateral and either subject to the Intercreditor Agreement on a basis that is no more favorable than the provisions applicable to the holders of ABL Debt (in the case of Term Loan Collateral) or subject to intercreditor agreements providing holders of Indebtedness with Junior Lien Priority at least the same rights and obligations as the holders of ABL Debt (in the case of the Term Loan Collateral) have pursuant to the Intercreditor Agreement as to the specified Collateral.

  • Intercreditor Agreements means the First Lien Intercreditor Agreement and the Junior Lien Intercreditor Agreement, collectively, in each case to the extent in effect.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • First Lien Security Documents means, collectively, (i) the Credit Agreement Collateral Documents and (ii) the Additional First-Lien Security Documents.

  • Guarantee Priority of Payments means the priority of payments relating to moneys received by the Cash Manager for and on behalf of the Guarantor and moneys standing to the credit of the Guarantor Accounts, to be paid on each Guarantor Payment Date in accordance with the Guarantor Agreement.

  • ABL Security Documents means the “Security Documents” as defined in the ABL Credit Agreement.

  • Security Instruments means, collectively, (a) the Mortgages, (b) the Transfer Letters, (c) the Pledge Agreements, (d) the Security Agreements, (e) each other agreement, instrument or document executed at any time in connection with the Pledge Agreements, the Security Agreements, or the Mortgages, (f) each agreement, instrument or document executed in connection with the Cash Collateral Account; and (g) each other agreement, instrument or document executed at any time in connection with securing the Obligations.

  • UK Security Documents means the UK Pledge Agreements and the UK Debenture.