First Priority Secured Obligations definition

First Priority Secured Obligations means the Secured Obligations in respect of the Initial Revolving Facility and any other Revolving Facility secured by the Collateral on a pari passu basis with the Initial Revolving Facility (as incurred and secured on the Closing Date).

First Priority Secured Obligations means the Secured Obligations (as defined in the Term Loan Credit Agreement) in respect of the Term Loans and any other Credit Facilities secured by the Collateral on a pari passu basis with the Term Loans (as incurred and secured on the Restatement Effective Date).

First Priority Secured Obligations means “Secured Obligations” (as defined in the First Lien Credit Agreement or the equivalent term under the documents governing any other First Lien Facilities) and any other First Lien Facilities secured by the Collateral on a pari passu basis with the Initial First Lien Term Loans (as incurred and secured on the Closing Date).

Examples of First Priority Secured Obligations in a sentence

• The First Priority Secured Obligations owed to each First Priority Secured Holder under the First Priority Collateral Documents shall continue to be effective, or to be reinstated, as the case may be, as to any payment in respect of any First Priority Secured Obligation that is rescinded or must otherwise be returned by an First Priority Secured Holder upon the occurrence or as a result of applicable provisions of the Bankruptcy Code, all as though such payment has not been made.

• In respect of the QuickBird 2 Insurance, the Company shall not permit there to be (i) any loss payee, other than the First Priority Pledge Collateral Agent and, after the earlier of termination of the First Priority Pledge Agreement and indefeasible payment in full in cash of the First Priority Secured Obligations, the Collateral Agent or (ii) any insured party or additional insured party, other than the Company.

• On and after the earlier of termination of the First Priority Pledge Agreement and indefeasible payment in full in cash of the First Priority Secured Obligations, the Company shall not permit there to be any original policy in respect of the QuickBird 2 Insurance other than any such original which is delivered to the Collateral Agent.

• The Company further agrees on and after the earlier of termination of the First Priority Pledge Agreement and indefeasible payment in full in cash of the First Priority Secured Obligations, at the Collateral Agent's request, to assemble the Collateral and make it available to the Collateral Agent at places which the Collateral Agent shall reasonably select, whether at the Company's premises or elsewhere.

• Each Grantor, severally and for itself alone, hereby grants a security interest in, all of such Grantor’s right, title, and interest in, to and under the Trademark Collateral, to the Collateral Trustee, for the benefit of the First Priority Secured Parties, as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) and at all times thereafter of the First Priority Secured Obligations.

More Definitions of First Priority Secured Obligations

First Priority Secured Obligations without duplication, (a) with ---------------------------------- respect to the Company, all Credit Agreement Obligations owing (i) under the Credit Agreement and the other Loan Documents to the Lenders in respect of the New Money Facilities in an aggregate principal amount not exceeding $375,000,000 and (ii) to any Lender, or any Lender Affiliate, in respect of any Specified Hedge Agreement; provided, that the maximum amount of First -------- Priority Secured Obligations relating to any Specified Hedge Agreement shall not exceed the Hedge Agreement Cap Amount relating to such Specified Hedge Agreement; and (b) with respect to each Obligor other than the Company, such Obligor's Guarantor Credit Agreement Obligations owing (i) under the Subsidiary Guarantee and the other Loan Documents to the Lenders in respect of the New Money Facilities in an aggregate principal amount not exceeding $375,000,000 and (ii) to any Lender, or any Lender Affiliate, in respect of any Specified Hedge Agreement; provided, that the maximum amount -------- of First Priority Secured Obligations relating to any Specified Hedge Agreement shall not exceed the Hedge Agreement Cap Amount relating to such Specified Hedge Agreement.

First Priority Secured Obligations means (i) all principal of and interest (including, without limitation, any interest which accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency or reorganization of the Borrower, whether or not allowed or allowable as a claim in any such proceeding) on any 1999 Loan, (ii) all other amounts payable by the Borrower under the 1999 Facility and (iii) any renewals or extensions of any of the foregoing.

First Priority Secured Obligations means (i) all outstanding principal amounts of the Partially Secured Obligations, provided that the principal amount secured pursuant to this clause (i) shall not exceed the Maximum Principal Amount, (ii) all interest (including, without limitation, any interest which accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency or reorganization of the Borrower, whether or not allowed or allowable as a claim in any such proceeding) on the principal amounts secured pursuant to clause (i) of this definition, (iii) any Yield-Maintenance Amount payable in respect of the portion of the Prudential Pro Rata Exposure secured pursuant to clauses (i) and (ii) of this definition, (iv) any renewals or extensions of any of the foregoing and (v) to the extent the same may be secured hereunder and under the PCS Pledge Agreement without contravention of the Indentures, any and all other amounts payable by the Borrower in respect of the Partially Secured Obligations. The amounts specified in clauses (i) and (iv) shall be allocated among the Partially Secured Obligations ratably based on the unpaid principal amount thereof at the time of determination.

First Priority Secured Obligations as defined in the Collateral Trust Agreement.

First Priority Secured Obligations shall have the meaning provided in Section 11(b) hereof.

First Priority Secured Obligations means the "Secured Obligations" under and as defined in the First Priority Pledge Agreement.

First Priority Secured Obligations means all principal of, interest on, and other amounts owing to the Secured Creditors with respect to the Protective Advances, if any, made by them in accordance with the requirements of Section 4(e) of this Agreement, (iii) "Second Priority Secured Obligations" shall mean, with respect to the Minimum Payment Obligations, all obligations pursuant to the Minimum Payment Guaranty Documents in respect of amounts advanced pursuant to one or more Minimum Payment Guaranties, and any indemnities, fees and expenses, enforcement costs (including reasonable attorneys' fees) and interest on such obligations in accordance with the terms of the relevant Minimum Payment Guaranty Documents, (iv) "Third Priority Secured Obligations" shall mean all principal of, and interest on, all Tranche A Term Loans under the Credit Agreement, and all regularly accruing fees owing pursuant to the Credit Agreement with respect to any commitments relating to the Tranche A Term Loans, and all indemnities, fees and expenses, enforcement costs (including reasonable attorneys' fees) and interest on or relating to the foregoing obligations, extensions of credit or commitments in respect thereof, (v) "Fourth Priority Secured Obligations" shall mean all principal of, and interest on, all Revolving Loans and Swingline Loans under the Credit Agreement and the aggregate amount of all unpaid reimbursement obligations