First Lien Financing Documents definition
Examples of First Lien Financing Documents in a sentence
The rights of each Second Lien Collateral Agent shall at all times be subject to the terms of this Agreement and to each First Lien Collateral Agent’s rights under the First Lien Financing Documents.
Until the Discharge of First Lien Obligations has occurred, the Directing First Lien Collateral Agent shall have the sole and exclusive right, subject to the rights of the First Lien Obligors under the First Lien Financing Documents, to settle or adjust claims over any insurance policy covering the Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the Collateral.
The foregoing provisions are intended as an inducement to the lenders under the First Lien Financing Documents, Second Lien Financing Documents and any documentation governing other parity lien or junior lien Indebtedness permitted to be incurred hereunder to extend credit to the Loan Parties and such lenders are intended third party beneficiaries of such provisions.
Each of the First Lien Collateral Agent and the Second Lien Collateral Agent and its respective Affiliates may lend money to, and generally engage in any kind of business with, the Obligors or any of their Affiliates as if such person were not appointed to act in such capacity under the terms of the First Lien Financing Documents or Second Lien Financing Documents, as the case may be and without any duty to account therefor to any other Claimholder.
Borrower shall comply in all material respects with all terms, covenants, and conditions set forth in the First Lien Financing Documents.
As of the Closing Date, no Event of Default (as defined in the First Lien Financing Agreement) exists and Borrower and the First Lien Loan Parties are in full compliance with the terms of the First Lien Financing Documents.
The First Lien Financing Documents comply in all material respects with all applicable laws, are in full force and effect as of the Closing Date and have not been terminated, rescinded or withdrawn as of such date.
Promptly upon Borrower’s receipt of any notice of default under the First Lien Financing Documents, Borrower shall provide a copy of such notice to Lender.
Set forth on Schedule 3.25 is a list of all First Lien Financing Documents as of the Closing Date, true and correct copies of which have been provided by the Borrower to the Lender.
Until the Discharge of First Lien Obligations has occurred, the First Lien Collateral Agent shall be entitled to deal with the Control Accounts (and all deposits therein) in accordance with the terms of the First Lien Financing Documents.