First Lien Obligation Period definition

First Lien Obligation Period means any period during which (a) any First Lien Obligations are outstanding (and, for purposes hereof, 2010 Notes that have been defeased pursuant to the 2010 Notes Indenture shall be deemed not to be outstanding), (b) any commitments pursuant to which First Lien Obligations may be Incurred are in effect or (c) any letters of credit issued under any First Lien Documents are outstanding but have not been discharged or fully cash collateralized in accordance with the terms of the applicable First Lien Document.
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First Lien Obligation Period has the meaning assigned to such term in the Indenture.
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First Lien Obligation Period means any period during which (i) any First Lien Obligations are outstanding (and, for purposes hereof, 2010 Notes that have been defeased pursuant to Article XII of the 2010 Notes Indenture shall be deemed not to be outstanding), (ii) any commitments pursuant to which First Lien Obligations may be Incurred are in effect or (iii) any letters of credit issued under any First Lien Documents are outstanding but have not been discharged or fully cash collateralized in accordance with the terms of the applicable First Lien Document. Subject to Section 6.05, the First Lien Obligation Period shall be deemed to have terminated upon the delivery by the Company to the Collateral Agent and each Secured Party Representative of an Officers’ Certificate to the effect that the conditions set forth in this definition have been satisfied. Intercreditor Agreement
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Examples of First Lien Obligation Period in a sentence

  • During any First Lien Obligation Period, the cash proceeds of Common Collateral received in connection with the sale of, or collection on, such Common Collateral upon the exercise of remedies, shall be applied by the Senior Agent to the Senior Lender Claims in such order as specified in the Senior Lender Documents.

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  • During the First Lien Obligation Period, whether or not an Insolvency Proceeding has been commenced by or against any Loan Intercreditor Agreement Party, the Requisite First Lien Secured Parties shall have the exclusive right to take and continue (and to instruct the Collateral Agent to take and continue) any Enforcement Action with respect to the Collateral, without any consultation with or consent of any Second Lien Secured Party, but subject to the proviso set forth in Section 6.01.

  • During any First Lien Obligation Period, each Trustee, on behalf of itself and the Noteholders, agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Common Collateral, without the prior written consent of the Senior Agent and the Required Lenders.

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  • This Agreement shall continue to be effective, and shall not be revocable by any party hereto, until the First Lien Obligation Period shall have terminated.

  • During any First Lien Obligation Period, as between the First Lien Secured Parties and the Second Lien Secured Parties, the First Lien Secured Parties will have the sole and exclusive right (i) to adjust or settle any insurance policy or claim Intercreditor Agreement covering the Collateral in the event of any loss thereunder and (ii) to approve any award granted in any condemnation or similar proceeding affecting the Collateral.

  • Provided that no First Lien Obligation Period then exists, each Pledgor further agrees, at the Collateral Trustee's request, to assemble the Collateral and make it available to the Collateral Trustee at places which the Collateral Trustee shall reasonably select, whether at such Pledgor's premises or elsewhere.

  • During any First Lien Obligation Period, the Collateral Trustee hereby directs each Pledgor to deliver, endorse or pay over any stock certificate, option or right in respect of any Capital Stock required to be delivered, endorsed or paid over to the Collateral Trustee pursuant to this clause (a) to the Administrative Agent as Collateral Trustee's agent and bailee pursuant to the Intercreditor Agreement.

  • During any First Lien Obligation Period, the Senior Agent is hereby authorized to make any such endorsements as agent for any such Trustee or any such Noteholder.


More Definitions of First Lien Obligation Period

First Lien Obligation Period means any period during which (i) any Senior Lender Claims are outstanding (other than unmatured indemnity obligations), (ii) any commitments pursuant to which Senior Lender Claims may be Incurred are in effect or (iii) any letters of credit issued under any Senior Lender Documents are outstanding but have not been discharged or fully cash collateralized in accordance with the terms of the applicable Senior Lender Documents.
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Related to First Lien Obligation Period

  • First Lien Obligations means, collectively, (a) all First Lien Credit Facility Obligations, (b) all Secured Notes Obligations and (c) all Other First Lien Obligations.

  • Second Lien Obligations means the “Obligations” as defined in the Second Lien Credit Agreement.

  • Other First Lien Obligations means the “Other First Lien Obligations” as defined in the Collateral Agreement, including any interest accruing after commencement of any bankruptcy or insolvency proceeding with respect to any holder of Other First Lien Obligations whether or not allowed in such proceeding.

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • Senior Lien Obligations means all revenue bonds and other obligations of the RECIPIENT outstanding on the date of execution of this loan agreement (or subsequently issued on a parity therewith, including refunding obligations) or issued after the date of execution of this loan agreement having a claim or lien on the Gross Revenue of the Utility prior and superior to the claim or lien of the loan, subject only to Maintenance and Operation Expense.

  • Priority Lien Obligations means Priority Lien Debt and all other Obligations in respect thereof.

  • Additional Second Lien Obligations means, with respect to any Grantor, any obligations of such Grantor owed to any Additional Second Lien Secured Party (or any of its Affiliates) in respect of the Additional Second Lien Documents.

  • Junior Lien Obligations means Junior Lien Debt and all other Obligations in respect thereof.

  • Parity Lien Obligations means Parity Lien Debt and all other Obligations in respect thereof.

  • Initial Additional First Lien Obligations means the [Obligations] as such term is defined in the Initial Additional First-Lien Security Agreement.

  • Other Pari Passu Lien Obligations means any Indebtedness or other Obligations (including Hedging Obligations) having Pari Passu Lien Priority relative to the Notes with respect to the Collateral; provided that an authorized representative of the holders of such Indebtedness shall have executed a joinder to the ABL-Notes Intercreditor Agreement and a joinder to the Pari Passu Intercreditor Agreement or the Pari Passu Intercreditor Agreement.

  • Discharge of First Lien Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.

  • Discharge of Second Lien Obligations means the occurrence of all of the following:

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuers, Holdings and any of Holdings’ Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuers, Holdings or any of Holdings’ Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services in connection with Indebtedness described in clause (i) or Obligations described in clause (ii).

  • First Lien Debt means the Initial First Lien Debt and any Additional First Lien Debt.

  • Junior Obligation means the Shares, and any other class of the Issuer’s share capital and any instrument or other obligation (including without limitation any preference shares) issued or guaranteed by the Issuer that ranks or is expressed to rank junior to the Capital Securities by operation of law or contract.

  • First Lien Indebtedness means the First Lien Loans, any First Lien Additional Indebtedness, and any First Lien Credit Agreement Refinancing Indebtedness.

  • Note Obligations means the Notes, the Guarantees and all other obligations of any obligor under this Indenture, the Notes, the Guarantees and the Security Documents.

  • Discharge of Priority Lien Obligations means the occurrence of all of the following:

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt, (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents and (c) any renewals or extensions of the foregoing.

  • Priority Debt means (a) any Debt of the Company secured by a Lien created or incurred within the limitations of Section 10.4(h) or 10.4(n) and (b) any Debt of the Company’s Subsidiaries (other than Debt of a Wholly-owned Subsidiary owing to another Wholly‑owned Subsidiary).

  • Priority Lien Debt means Indebtedness of the Company and the Subsidiary Guarantors under the Priority Lien Credit Agreement (including reimbursement obligations with respect to letters of credit).

  • Junior Priority Obligations means the Initial Junior Priority Obligations and any Additional Obligations constituting Junior Priority Debt.

  • Term Obligations shall include all interest accrued or accruing (or which would, absent commencement of an Insolvency or Liquidation Proceeding, accrue) after commencement of an Insolvency or Liquidation Proceeding in accordance with the rate specified in the relevant Term Document whether or not the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding.

  • Junior Lien Indebtedness means any Indebtedness of any Credit Party that is secured by Liens on Collateral that rank junior in priority to the Liens that secure the Obligations.

  • Second Lien Debt means the Indebtedness and guarantees thereof now or hereafter incurred pursuant to the Second Lien Documents. Second Lien Debt shall include any Registered Equivalent Notes and guarantees thereof by the Grantor issued in exchange thereof.