Examples of First Priority Notes Obligations in a sentence
Despite the lack of detailed mechanistic insight, it is generally understood that the triple phase boundaries (TPBs) of SOFC electrodes, at which gas, electrode and electrolyte phases are simultaneously in contact, and hence all reactant and product species (ions, electrons, neutral molecules) are simultaneously present, serve as the predominant sites for electrochemical reactions.
Subject to paragraph (A) above, the obligations to be guaranteed and secured are the First Priority Notes Obligations.
In determining what liens will be granted (and any limitations on the amount or scope of Guarantees) by Issuers or Guarantors organized outside of the United States (the “Non-U.S. Notes Parties”) to secure the First Priority Notes Obligations (the holders thereof, the “Secured Parties”) the following matters will be taken into account.
Each of the parties hereto agree that any and all limitation periods provided for in the Limitations Act, 2002 (Ontario), as amended from time to time, or any other applicable law limiting the time for which an action may be commenced shall be excluded from application to the First Priority Notes Obligations and any undertaking, covenant, indemnity or other agreement of each Grantor hereunder, in each case, to fullest extent permitted by the Limitations Act, 2002 (Ontario) or applicable law.
Upon such release, subject to the terms of the Collateral Documents, all rights in the released Collateral securing First Priority Notes Obligations shall revert to the Issuer and the Guarantors, as applicable.