Discharge of Senior Lien Obligations definition

Discharge of Senior Lien Obligations means the Senior Lien Obligations being Paid in Full.

Discharge of Senior Lien Obligations means, subject to refinancing and reinstatement pursuant to Sections 5.3 and 5.4, the time at which (i) all the Senior Lien Obligations (other than contingent indemnification and reimbursement obligations as to which no claim has been asserted by the Person entitled thereto) have been paid in full in cash and all Commitments (or commitments defined by reference to a similar term) (as defined in any Senior Lien Credit Agreement) have been terminated, (ii) all letters of credit issued under any Senior Lien Credit Agreement have been terminated or expired or cash collateral or backstop letters of credit in respect thereof in compliance with such Senior Lien Credit Agreement have been delivered (or such other arrangements reasonably satisfactory to the Senior Lien Agent relating to such Senior Lien Credit Agreement and each applicable issuing bank have been made) and (iii) adequate provision satisfactory to the applicable Senior Lien Secured Parties shall have been made for any contingent or unliquidated Senior Lien Obligations related to claims, causes of action or other liabilities that have been asserted by the Senior Lien Secured Parties and for which reimbursement or indemnification is required under the Senior Lien Documents.

Discharge of Senior Lien Obligations means, except to the extent otherwise provided in Section 5.8, the Discharge of Initial Senior Lien Obligations and the Discharge of each additional Series of Senior Lien Obligations has occurred.

Examples of Discharge of Senior Lien Obligations in a sentence

• This authorization is coupled with an interest and is irrevocable until the Discharge of Senior Lien Obligations.

• This Agreement is a continuing agreement and shall (a) remain in full force and effect until the Discharge of Senior Lien Obligations shall have occurred (subject to Section 5.4 hereof), (b) be binding upon the Parties and their successors and assigns and (c) inure to the benefit of and be enforceable by the Parties and their respective successors, transferees and assigns.

• Until the Discharge of Senior Lien Obligations has occurred, the Junior Lien Agent, on behalf of itself and the Junior Lien Secured Parties, agrees not to seek relief from or modification of the automatic stay or any other stay in any Insolvency Proceeding in respect of any portion of the Collateral, any Proceeds thereof or any Lien in respect of the Junior Lien Obligations, in each case without the Senior Lien Agent’s express prior written consent.

• The Junior Lien Agent, for and on behalf of itself and the Junior Lien Secured Parties, agrees that no payment to the Senior Lien Agent or any Senior Lien Secured Party pursuant to the provisions of this Agreement shall entitle the Junior Lien Agent or any Junior Lien Secured Party to exercise any rights of subrogation in respect thereof until the Discharge of Senior Lien Obligations shall have occurred.

• So long as the Discharge of Senior Lien Obligations has not occurred, the Senior Lien Agent shall be entitled to deal with the Control Collateral in accordance with the terms of this Agreement and the other Senior Lien Documents as if the Liens in favor of the Junior Lien Secured Parties did not exist.

More Definitions of Discharge of Senior Lien Obligations

Discharge of Senior Lien Obligations means, except to the extent otherwise expressly provided in Section 5.5:

Discharge of Senior Lien Obligations means each of the following has occurred: has occurred:

Discharge of Senior Lien Obligations means the Discharge of Revolving Loan Obligations and the Discharge of Term Loan Obligations.

Discharge of Senior Lien Obligations means, subject to reinstatement pursuant to Section 5.4, the time at which all the Senior Lien Obligations (other than contingent indemnification and reimbursement obligations as to which no claim has been asserted by the Person entitled thereto) have been paid in full in cash and all Commitments (or commitments defined by reference to a similar term) (as defined in any Senior Lien Credit Agreement) have been terminated.

Discharge of Senior Lien Obligations shall have the meaning set forth in the ABL/Term Intercreditor Agreement.

Discharge of Senior Lien Obligations means the “Discharge of Parity Lien Obligations” as defined in the Collateral Trust Agreement.

Discharge of Senior Lien Obligations means, as used herein as of any date of determination, (i) if a Discharge of First Lien Obligations has not occurred as of such date, a Discharge of First Lien Obligations, (ii) if a Discharge of First Lien Obligations has occurred as of such date and a Discharge of Second Lien Obligations has not occurred as of such date, a Discharge of Second Lien Obligations and (iii) if a Discharge of First Lien Obligations and a Discharge of Second Lien Obligations has occurred as of such date and a Discharge of Third Lien Obligations has not occurred as of such date, a Discharge of Third Lien Obligations.