Intercreditor Term Sheet definition

Intercreditor Term Sheet means the term sheet setting out the principle terms upon which the Intercreditor Agreement shall be entered into on upon the incurrence of such New Debt as set out in paragraphs (g)(ii)-(g)(iii) in the definition of "Permitted Debt" or debt pursuant to the Hedging Obligations or the Super Senior RCF, as set out in the term sheet appended hereto in Schedule 1 (Intercreditor Term Sheet).
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Intercreditor Term Sheet has the meaning set forth in the recitals to this Agreement.
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Intercreditor Term Sheet has the meaning set forth in the recitals to this Agreement. “Joinder” means a joinder to this Agreement substantially in the form attached hereto as
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Examples of Intercreditor Term Sheet in a sentence

  • Intercreditor Agreement to be subject to Intercreditor Principles on substantially the terms summarised in the Intercreditor Term Sheet.

  • Loans Subordination of intercompany loans addressed in the Intercreditor Term Sheet and loans subordinated pursuant to such terms shall be permitted under the Secured Facility Agreements.

  • All amendments/consents/confirmations required to grant security for the Secured Facility Agreements as contemplated above and by the Intercreditor Term Sheet, and for the New Secured Notes as contemplated in the New Secured Notes Term Sheet and by the Intercreditor Term Sheet, to be given.

  • Subject to the Intercreditor Term Sheet, amendments and waivers to, and consents under, these covenants to be subject to Supra Majority Lenders consent.

  • Subject to the Intercreditor Term Sheet, amendments of the New Secured Notes Finance Documents will be subject to the consent of the majority of the New Secured Noteholders by value.


More Definitions of Intercreditor Term Sheet

Intercreditor Term Sheet means the agreed form intercreditor term sheet setting out the terms and conditions of the Intercreditor Agreement.
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Related to Intercreditor Term Sheet

  • ABL/Term Loan Intercreditor Agreement means the Intercreditor Agreement, dated as of the Closing Date, by and among the Administrative Agent, Barclays Bank PLC, as collateral agent under the Term Loan Credit Agreement, Holdings, Borrower and the other Subsidiary Loan Parties party thereto, as amended, restated, supplemented, replaced, refinanced or otherwise modified from time to time in accordance with the requirements thereof and of this Agreement.

  • Market Intercreditor Agreement means an intercreditor agreement the terms of which are consistent with market terms governing security arrangements for the sharing of liens or arrangements relating to the distribution of payments, as applicable, at the time the intercreditor agreement is proposed to be established in light of the type of Indebtedness subject thereto.

  • Acceptable Intercreditor Agreement means the Intercreditor Agreement, a Market Intercreditor Agreement, or another intercreditor agreement that is reasonably satisfactory to the Administrative Agent (which may, if applicable, consist of a payment “waterfall”).

  • ABL Intercreditor Agreement means that certain ABL Intercreditor Agreement, dated as of the Closing Date, by and among the Collateral Agent, the ABL Collateral Agent and the other parties party thereto, as may be amended, amended and restated, modified, supplemented, extended or renewed from time to time in accordance with the terms hereof and thereof.

  • Customary Intercreditor Agreement means, (a) to the extent executed in connection with the incurrence, issuance or other obtaining of secured Indebtedness, the Liens on the Collateral securing which are intended to rank equal or senior in priority (in the case of Pari Notes Debt Collateral (as such term is define in the ABL/Bond Intercreditor Agreement)) and junior in priority (in the case of ABL Collateral) to the Liens on the Collateral securing the Obligations, at the option of the Borrower, either (i) an intercreditor agreement substantially in the form of the ABL/Bond Intercreditor Agreement (with such modifications as may be necessary or appropriate in light of prevailing market conditions and reasonably acceptable to the Administrative Agent) or (ii) a customary intercreditor agreement in form and substance reasonably acceptable to the Administrative Agent and the Borrower, which agreement shall provide, among other things, that the Liens on the Collateral securing such Indebtedness shall rank equal or senior, as the case may be, in priority (in the case of the Pari Notes Debt Collateral) and junior in priority (in the case of the ABL Collateral) to the Liens on the Collateral securing the Obligations, and (b) to the extent executed in connection with the incurrence, issuance or other obtaining of secured Indebtedness, the Liens on the Collateral securing which are intended to rank junior in priority to all Liens on Collateral securing the Obligations, at the option of the Borrower, a customary intercreditor agreement in form and substance reasonably acceptable to the Administrative Agent and the Borrower, which agreement shall provide that the Liens on the Collateral securing such Indebtedness shall rank junior in priority to all Liens on Collateral securing the Obligations. With regard to any changes in light of prevailing market conditions as set forth above in clauses (a)(i) or with regard to clause (a)(ii) or (b), such changes or agreement, as applicable, shall be posted to the Lenders not less than five (5) Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within three (3) Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s entry into such intercreditor agreement (including with such changes) is reasonable and to have consented to such intercreditor agreement (including with such changes) and to the Administrative Agent’s execution thereof.