Examples of First Priority Collateral Trustee in a sentence
In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control as between the First Priority Collateral Trustee, the First Priority Indenture Trustee and any other First Priority Claimholders and the Second Priority Collateral Trustee, the Second Priority Indenture Trustee and any other Second Priority Claimholders.
In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control as between the First Priority Collateral Trustee, the First Priority Indenture Trustee, the Second Priority Collateral Trustee, the Second Priority Indenture Trustee, and any other Second Priority Holders (as such terms are defined in the Intercreditor Agrement).
Each of the Second Priority Indenture Trustee and the Second Priority Collateral Trustee, (each on behalf of itself and the other Second Priority Claimholders) and the First Priority Indenture Trustee and the First Priority Collateral Trustee (each on behalf of itself and the other First Priority Claimholders), hereby waive any right, privilege or power it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement.
Except as provided below, this Agreement will be discharged and cease to be of further effect upon the Discharge of First Priority Obligations and upon the receipt by the Common Representative from the First Priority Indenture of written certification as to the termination of the Intercreditor Agreement as to the First Priority Indenture Trustee, First Priority Collateral Trustee and the First Priority Holders.
All payments received by the First Priority Collateral Trustee or any of the other First Priority Claimholders may be applied, reversed and reapplied, in whole or in part, to such part of the First Priority Obligations provided for in the First Priority Documents.
This Agreement and the rights, privileges, powers and benefits hereof shall inure to the benefit of, and be binding upon, each of the parties hereto and its respective successors and assigns and shall inure to the benefit of, and be binding upon, each of the First Priority Collateral Trustee, the First Priority Indenture Trustee, the other First Priority Claimholders, the Second Priority Collateral Trustee, the Second Priority Indenture Trustee and the other Second Priority Claimholders.
Each of the First Priority Indenture Trustee or the First Priority Collateral Trustee or the Second Priority Collateral Trustee or the Second Priority Indenture Trustee may demand specific performance of this Agreement.
The Second Priority Collateral Trustee, on behalf of itself and the other Second Priority Claimholders, will subordinate its Liens in the Collateral to the Liens securing such DIP Financing (and all obligations relating thereto) and will not request Adequate Protection (as defined in Section 6.3) or any other relief in connection therewith (except, as expressly agreed by the First Priority Collateral Trustee or to the extent permitted by Section 6.3).
Nothing contained herein shall prohibit or in any way limit the First Priority Collateral Trustee or any First Priority Claimholder from objecting in any Insolvency or Liquidation Proceeding or otherwise to any action taken by the Second Priority Collateral Trustee or any of the Second Priority Claimholders.
This Agreement shall terminate and be of no further force and effect on the date of Discharge of First Priority Obligations, subject to the rights, privileges and powers of the First Priority Collateral Trustee and the other First Priority Claimholders under Sections 5.5 and 6.5.