First Lien Obligations definition

First Lien Obligations means (a) all the Credit Agreement Obligations, (b) all the Initial Additional First Lien Obligations and (c) all the Additional First Lien Obligations.

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First Lien Obligations means the Obligations and the Permitted Other Indebtedness Obligations that are secured by Liens on the Collateral that rank on an equal priority basis (but without regard to the control of remedies) with Liens on the Collateral securing the Obligations.

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

Examples of First Lien Obligations in a sentence

Such purchase will (1) include all principal of, and all accrued and unpaid interest, fees and expenses in respect of, all First Lien Obligations and all other First Lien Obligations, outstanding at the time of purchase and (2) otherwise be subject to the terms and conditions of this Section 5.
Notwithstanding any rights or remedies available to a Second Lien Creditor under any of the Second Lien Documents, applicable law or otherwise, and subject to the preceding terms of this Section 3.1, a Second Lien Creditor shall not take any Enforcement Action prior to the Discharge of First Lien Obligations.
No Second Lien Creditor shall, without the consent of the Designated First Lien Representative (acting at the direction of the Majority First Lien Lenders), propose or vote in favor of any plan or reorganization or similar dispositive restructuring plan in connection with an Insolvency Proceeding that does not result in the Discharge of the First Lien Obligations.
This appointment is coupled with an interest and is irrevocable until the Discharge of First Lien Obligations or such time as this Agreement is terminated in accordance with its terms (but shall not be exercised during the period from the date of the Discharge of First Lien Obligations to the date of the Discharge of Second Lien Obligations).
The Parties intend that, so long as the Discharge of First Lien Obligations has not occurred, the Shared Collateral securing the First Lien Obligations and the Shared Collateral securing the Second Lien Obligations be identical.

More Definitions of First Lien Obligations

First Lien Obligations means, collectively, (i) the Credit Agreement Obligations and (ii) each Series of Additional First-Lien Obligations.

First Lien Obligations has the meaning assigned to such term in the Intercreditor Agreement.

First Lien Obligations means the Credit Agreement Obligations, obligations under any secured Replacement Credit Facility and the obligations under each other series of First Lien Notes and in respect of any Other First Lien Debt.

First Lien Obligations means the Obligations and the Other First Lien Obligations.

First Lien Obligations means the Obligations, the Permitted Incremental Equivalent Debt and the Credit Agreement Refinancing Indebtedness, in each case, that are, or are purported to be, secured by the Collateral on an equal priority basis (but without regard to the control of remedies) with Liens on the Collateral securing the Closing Date Term Loans. For the avoidance of doubt, “First Lien Obligations” shall include the Closing Date Term Loans.

First Lien Obligations means any and all obligations, liabilities and indebtedness of every kind, nature and description owing by Borrower or any other Obligor (including, without limitation, Hedging Obligations and Banking Services Obligations) to First Lien Agent and the First Lien Lenders evidenced by or arising under any of the First Lien Loan Agreements, whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, including (without limitation) principal, premium, interest, reimbursement, obligations, charges, fees, obligations to post cash collateral, costs, indemnities and expenses (including, without limitation, attorneys’ and consultant fees and expenses), however evidenced, whether as principal, surety, endorser, guarantor or otherwise, whether now existing or hereafter arising, whether arising before, during or after the initial or any renewal term of any of the First Lien Loan Agreements or after the commencement of any Insolvency Proceeding with respect to Borrower or any other Obligor (and including, without limitation, the payment of interest, fees and expenses which would accrue and become due but for the commencement of such Insolvency Proceeding at the applicable rate provided for in the respective First Lien Loan Agreements, whether or not such interest, fees or expenses is allowed or allowable in whole or in part in any such Insolvency Proceeding), and in each case, whether or not allowed or allowable in an Insolvency Proceeding, provided that, for purposes of this Intercreditor Agreement, the term “First Lien Obligations” shall not include the principal amount of loans, the face amount of letter of credit accommodations, Hedging Obligations and Banking Services Obligations in excess of the Maximum First Lien Obligations. The foregoing limitation shall not apply to, and the term “First Lien Obligations” shall include, obligations consisting of interest and fees, costs or expenses (except for that portion of interest and fees attributable to the portion of the First Lien Obligations that exceeds the Maximum First Lien Obligations), in each case whether or not charged by First Lien Agent and/or the other First Lien Lenders to any loan account of Borrower maintained by First Lien Agent pursuant to the First Lien Credit Agreement.

First Lien Obligations shall in any event include: (a) all interest accrued or accruing (or which would, absent commencement of an Insolvency or Liquidation Proceeding (and the effect of provisions such as Section 502(b)(2) of the Bankruptcy Code), accrue) on or after the commencement of an Insolvency or Liquidation Proceeding in accordance with the rate specified in the relevant First-Lien Document, whether or not the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding, (b) any and all fees and expenses (including attorneys’ and/or financial consultants’ fees and expenses) incurred by the First-Lien Collateral Agent, the First-Lien Administrative Agent and the other First-Lien Creditors on or after the commencement of an Insolvency or Liquidation Proceeding, whether or not the claim for fees and expenses is allowed under Section 506(b) of the Bankruptcy Code or any other provision of the Bankruptcy Code or Bankruptcy Law as a claim in such Insolvency or Liquidation Proceeding, and (c) all obligations and liabilities of each Grantor under each First-Lien Document to which it is a party which, but for the automatic stay under Section 362(a) of the Bankruptcy Code, would become due. Notwithstanding the foregoing, if the Outstanding Amount is in excess of the greater of (x) $25,000,000 and (y) $35,000,000 less the amount of permanent reductions to the commitments and outstandings under the First-Lien Credit Agreement made after the date hereof (other than in connection with a Refinancing) (the “Cap Amount”), then only that portion of such Outstanding Amount equal to the Cap Amount shall be included in First-Lien Obligations and interest and reimbursement obligations and Hedging Obligations with respect to such Outstanding Amount shall only constitute First-Lien Obligations to the extent related to the portion of such Outstanding Amount included in the First-Lien Obligations.