First Priority After-Acquired Property means any property (other than the initial collateral) of the Issuer or any Subsidiary Guarantor that secures any Secured Bank Indebtedness.
First Priority After-Acquired Property means any property (other than the initial collateral) of Holdings, the Issuer or any Subsidiary Guarantor that secures any Secured Bank Indebtedness.
First Priority After-Acquired Property means any property of an Issuer or any Subsidiary Guarantor that secures any First-Priority Lien Obligations that is not already subject to the Lien under the Security Documents, other than any Excluded Assets.
Examples of First Priority After-Acquired Property in a sentence
Notwithstanding the foregoing, upon the acquisition by Hexion or any Guarantor of any First Priority After-Acquired Property consisting of ABL Priority Collateral, Hexion or such Guarantor shall only be required to grant junior priority liens on such Collateral to secure the Notes (and only take actions with respect to the granting of such liens that are otherwise consistent with actions required to be taken by the ABL Collateral Agent).
More Definitions of First Priority After-Acquired Property
First Priority After-Acquired Property means, with respect to the Secured Notes, any property of the Company or any Notes Guarantor that secures any First Lien Credit Facility Obligations that is not already subject to the lien under the Security Documents, other than Specified Excluded Collateral with respect to the Secured Notes.
First Priority After-Acquired Property means (x) at any time the outstanding principal amount of loans under the Senior Term Loan Facility is greater than $500.0 million, any property of the Company, the Issuer or any Pledgor that secures any First Priority Lien Obligations and Other First Lien Obligations other than the Notes that is not already subject to the Lien under the Security Documents, other than any Excluded Assets, and (y) if clause (x) is not applicable, then any property of the Company, the Issuer or any Pledgor that constitutes Notes Collateral (other than Excluded Assets).
First Priority After-Acquired Property means any property (other than the initial collateral as of the Issue Date) of Hexion or any Subsidiary Guarantor that secures any First Priority Lien Obligations or, with respect to ABL Priority Collateral, any ABL Obligation, other than in each case any Excluded Assets.
First Priority After-Acquired Property means any property of any Issuer or any Subsidiary Guarantor that is required pursuant to the Credit Agreement Documents to secure any First Priority Lien Obligations that is not already subject to the Lien under the Credit Agreement Documents, other than any Excluded Assets.
First Priority After-Acquired Property means any property of the Issuer or any Subsidiary Guarantor that secures any Secured Bank Indebtedness that is not already subject to the Lien under the Security Documents, including, for the avoidance of doubt, any property of the Issuer or any Subsidiary Guarantor that secures any Secured Bank Indebtedness on the Issue Date.
First Priority After-Acquired Property means, with respect to any series of Secured Notes, any property of the Company or any Notes Guarantor that secures any First Lien Credit Facility Obligations that is not already subject to the lien under the Security Documents, other than Specified Excluded Collateral with respect to such series of Secured Notes.
First Priority After-Acquired Property means any property of the Issuer or any Subsidiary Pledgor that secures any Secured Bank Indebtedness that is not already subject to the Lien under the Security Documents, other than any Excluded Assets.