Examples of Excess First Lien Obligations in a sentence
The Designated First Lien Representative is hereby authorized to make any such endorsements as agent for the Second Lien Secured Parties and this authorization is coupled with an interest and is irrevocable until the Discharge of the First Lien Obligations (other than Excess First Lien Obligations).
Nothing herein shall limit the right or ability of the Junior Lien Secured Parties to (i) purchase (by credit bid or otherwise) all or any portion of the Collateral in connection with any enforcement of remedies by the First Lien Collateral Agent so long as the First Lien Secured Parties receive payment in full in cash of all First Lien Obligations (other than Excess First Lien Obligations) after giving effect thereto or (ii) file a proof of claim with respect to the Junior Lien Obligations.
For the purposes of this Section 4.02, unless otherwise provided herein, clauses Section 4.02(b) through and including Section 4.02(o) shall be in full force and effect prior to the Discharge of First Lien Obligations (other than Excess First Lien Obligations).
Except as specifically provided herein, until the Discharge of First Lien Obligations (other than Excess First Lien Obligations), the First Lien Collateral Agent shall be entitled to deal with such Collateral and Accounts in accordance with the terms of this Agreement and the other First Lien Documents as if the Junior Liens did not exist.
This application is a comprehensive document detailing the development plan for this high grade project as a state-of-the-art underground mine.