First Lien Principal Obligations definition
First Lien Principal Obligations means, as of any date, the (a) outstanding aggregate principal amount of the “Loans” under the First Lien Credit Agreement as of such date, and (b) the amount of Letter of Credit Liabilities under the First Lien Credit Agreement as of such date.
First Lien Principal Obligations means, at any time of determination, the aggregate unpaid amount of the First Lien Obligations constituting principal of indebtedness (with letters of credit being deemed to have a principal amount equal to the maximum potential liability of the First Lien Debtor and First Lien Guarantors thereunder or in respect thereof).
First Lien Principal Obligations means, at any time of determination, the aggregate unpaid principal of the notes outstanding under the First Lien NPAs.
Examples of First Lien Principal Obligations in a sentence
This is a continuing agreement of lien subordination in respect of the Collateral and the First Lien Holder may continue, at any time and without notice to the Second Lien Agent or any Second Lien Noteholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Borrower or any Grantor constituting First Lien Principal Obligations up to but not exceeding the First Lien Cap in reliance hereof.
The Second Lien Lenders shall only be permitted to acquire the entire amount of the First Lien Principal Obligations, and may not acquire less than all of such First Lien Principal Obligations.
More Definitions of First Lien Principal Obligations
First Lien Principal Obligations means, as of any date of determination, the sum of (i) the outstanding principal amount of loans under the First Lien Loan Documents plus (ii) the aggregate undrawn maximum amount of any letters of credit outstanding on such date under the First Lien Loan Documents plus (iii) the aggregate unpaid principal amount of all reimbursement obligations for drawings under such letters of credit. First Lien Principal Obligations shall not include the principal amount of any First Lien Refinancing Debt that substantially concurrently with the incurrence thereof Refinances any of the then-existing First Lien Principal Obligations.
First Lien Principal Obligations means the (a) outstanding principal amount of the Revolving Credit Loans and the Term Loan and (b) the Letter of Credit Liabilities.
First Lien Principal Obligations means, at any time of determination, the sum of (i) the aggregate unpaid amount of the First Lien Obligations constituting principal of indebtedness, including principal resulting from interest that after November 5, 2008 is capitalized or paid-in-kind through issuance of additional First Lien Notes, and (ii) any and all amounts payable from time to time under the Revenue Interests Assignment Agreement as currently in effect, including without limitation, the amount of the Put/Call Price (as from time to time in effect).