First Priority Secured Party definition

First Priority Secured Party means, at any time, (a) the First Priority Creditor, (b) the First Priority Agent, (c) each other Person to whom any of the First Priority Claims is owed (including any Affiliate of a First Priority Creditor to whom any First Priority Claims of the type described in clause (ii) of the definition thereof is owed) and (d) the successors and assigns of each of the foregoing.

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First Priority Secured Party means each Person holding First Priority Obligations, including the First Priority Representative.

First Priority Secured Party means JPMorgan Chase Bank, N.A. as administrative agent under the Senior Credit Facility or any other administrative agent under a Senior Credit Facility that is a First Priority Obligation;

Examples of First Priority Secured Party in a sentence

• Except as provided in Section 3.6, if any First Priority Secured Party or Second Priority Secured Party shall enforce its rights or remedies in violation of the terms of this Agreement, no Loan Party shall be entitled to use such violation as a defense to any action by any First Priority Secured Party or Second Priority Secured Party, nor to assert such violation as a counterclaim or basis for set off or recoupment against any First Priority Secured Party or Second Priority Secured Party.

• Nothing in this Agreement shall affect any right that any First Priority Secured Party or Second Priority Secured Party may otherwise have to bring any action or proceeding against any Loan Party or its properties in the courts of any jurisdiction.

• The First Priority Agent acting pursuant to this Article V shall not, by reason of this Agreement, any other Security Document or any other document, have a fiduciary relationship in respect of any other First Priority Secured Party, the Second Priority Agent or any other Second Priority Secured Party.

• By accepting the benefits of this Agreement and the other First Priority Security Documents, each First Priority Secured Party hereby authorizes the First Priority Agent to enter into this Agreement and to act on its behalf as collateral agent hereunder and in connection herewith.

• The First Priority Secured Parties and the Second Priority Secured Parties shall have no duty to disclose to any Second Priority Secured Party or to any First Priority Secured Party, respectively, any information relating to the Company or any of the Grantors, or any other circumstance bearing upon the risk of nonpayment of any of the First Priority Claims or the Second Priority Claims, as the case may be, that is known or becomes known to any of them or any of their Affiliates.

More Definitions of First Priority Secured Party

First Priority Secured Party means (a) each First Priority Creditor (and any affiliate of such First Priority Creditor to which any Cash Management Obligation is owed), (b) each “Issuing Bank” (as defined in the First Priority Documents), (c) the First Priority Representative, (d) each counterparty to any Swap Agreement with a Loan Party the obligation under which constitute Hedging Obligations, (e) the beneficiaries of each indemnification obligation undertaken by any Loan Party under any First Priority Document, (f) each counterparty to any Platinum Lease with a Loan Party the obligations under which constitute Platinum Lease Obligations and (g) the successors and assigns of each of the foregoing.

First Priority Secured Party means JPMorgan Chase Bank, N.A. as administrative agent under the Senior Credit Facility or any other administrative agent under a Senior Credit Facility that is a First Priority Obligation (as defined in the Intercreditor Agreement);

First Priority Secured Party means (i) with respect to any ABL-Priority Collateral, any of the ABL Secured Parties and (ii) with respect to any Non-ABL Priority Collateral, any of the Term Loan Secured Parties.

First Priority Secured Party means the First Lien Note Secured Parties, the Revolving Credit Secured Parties and any other holder of First Priority Obligations.

First Priority Secured Party or any other Person includes any successor in interest to it and any permitted transferee, permitted purchaser or permitted assignee of it;

First Priority Secured Party means, with respect to each Type of Common Collateral, the holders of the First Priority Obligations with respect to such Common Collateral.

First Priority Secured Party or “First-Priority Secured Parties” or (as applicable) “Credit Agreement Secured Party”, “Credit Agreement Secured Parties”, “Other First-Priority Secured Party” or “Other First-Priority Secured Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Controlling Authorized Representative hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with Holdings or any Subsidiary of Holdings or other Affiliate thereof as if such Person were not the Controlling Authorized Representative hereunder and without any duty to account therefor to any other First-Priority Secured Party.