Discharge of Term Obligations definition

Discharge of Term Obligations shall have the meaning provided in the Intercreditor Agreement.

Discharge of Term Obligations means the payment in full in cash of all outstanding Term Obligations (other than contingent indemnity obligations with respect to then unasserted claims).

Discharge of Term Obligations means, except to the extent otherwise provided in Section 2.4(f), the occurrence of all of the following:

Examples of Discharge of Term Obligations in a sentence

• This Agreement is a continuing agreement and shall (a) remain in full force and effect until the Discharge of ABL Obligations and the Discharge of Term Obligations shall have occurred, (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 Term Obligations has occurred, the ABL Agent, on behalf of itself and the ABL Secured Parties, agrees not to seek relief from the automatic stay or any other stay in any Insolvency Proceeding in respect of any portion of the Term Priority Collateral without the Term Agent’s express written consent.

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

• Upon the Discharge of Term Obligations, the Term Agents shall deliver to the ABL Agent or shall execute such documents as the ABL Agent may reasonably request to enable the ABL Agent to have control over any Control Collateral still in any Term Agent’s possession, custody or control in the same form as received with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct.

• Until the Discharge of Term Obligations has occurred, the ABL Agent, on behalf of itself and the ABL Secured Parties, agrees not to seek relief from the automatic stay or any other stay in any Insolvency Proceeding in respect of any portion of the Term Priority Collateral without the Controlling Term Agent’s express written consent.

More Definitions of Discharge of Term Obligations

Discharge of Term Obligations has the meaning given to such term in the ABL Intercreditor Agreement.

Discharge of Term Obligations means the time at which all the Term Obligations (other than (i) contingent obligations as to which no claim has been asserted by the Person entitled thereto, (ii) Secured Hedge Obligations (as defined in the Term Credit Agreement) and (iii) Secured Cash Management Obligations (as defined in the Term Credit Agreement)) have been paid in full in cash and all Commitments (as defined in the Term Credit Agreement or any Additional Term Debt Agreement, as applicable) have been terminated.

Discharge of Term Obligations means the time at which both the Discharge of First Lien Term Obligations and Discharge of Second Lien Term Obligations shall have occurred.

Discharge of Term Obligations means (a) the payment in full in cash of the applicable Term Obligations that are outstanding and unpaid (and excluding, for the avoidance of doubt, unasserted contingent indemnification or other obligations) at the time all Indebtedness under the applicable Term Credit Agreement is paid in full in cash, including (if applicable), with respect to amounts available to be drawn under outstanding letters of credit issued thereunder (or indemnities or other undertakings issued pursuant thereto in respect of outstanding letters of credit), delivery or provision of cash or backstop letters of credit in respect thereof in compliance with the terms of any such Term Credit Agreement (which shall not exceed an amount equal to 105% of the aggregate undrawn amount of such letters of credit) and (b) the termination of all then outstanding commitments to extend credit under the Term Documents.

Discharge of Term Obligations means, except to the extent otherwise provided in Section 2.4(f) (When Discharge of Term Obligations Deemed to Not Have Occurred), the occurrence of all of the following:

Discharge of Term Obligations means, except to the extent otherwise provided in Section 5.7 (and subject to Section 6.5), (a) payment in full in cash of the principal of and interest (including interest accruing on or after the commencement of any Insolvency or Liquidation Proceeding, whether or not such interest would be allowed in such Insolvency or Liquidation Proceeding) and premium, if any, on all Indebtedness outstanding under the Term Loan Documents, (b) payment in full of all other Term Obligations that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest and premium, if any, are paid and (c) termination of all other commitments of the Term Creditors under the Term Loan Documents.

Discharge of Term Obligations means the payment in full in cash of all outstanding Term Obligations (other than contingent indemnity obligations with respect to then unasserted claims). If the Loan Parties enter into any refinancing of the Term Obligations (including, without limitation by the provision of DIP Financing in any Insolvency Proceeding of the Loan Parties), then the Discharge of Term Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement.