Junior Priority Collateral definition

Junior Priority Collateral means any “Collateral” as defined in any Junior Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Junior Priority Collateral Document as security for any Junior Priority Debt Obligation.

Junior Priority Collateral means (a) with respect to the ABL Agent and any other ABL Secured Party, Term Priority Collateral and (b) with respect to any Term Debt Agent and any other Term Secured Party, ABL Priority Collateral.

Junior Priority Collateral means the Collateral as granted by each Loan Party that is not a Debtor.

Examples of Junior Priority Collateral in a sentence

• Each Secured Party acknowledges and agrees that (i) the grants of Liens pursuant to the Senior Priority Collateral Documents and the Junior Priority Collateral Documents constitute separate and distinct grants of Liens and (ii) because of, among other things, their differing rights in the Collateral, the Senior Priority Obligations are fundamentally different from the Junior Priority Obligations and must be separately classified in any plan of reorganization proposed or adopted in an Insolvency Proceeding.

• Nothing in this Section 5.01(a) will be deemed to affect any agreement of a Junior Priority Representative, for itself and on behalf of the Junior Priority Debt Parties under its Junior Priority Debt Facility, to release the Liens on the Junior Priority Collateral as set forth in the relevant Junior Priority Debt Documents.

• Each Secured Party acknowledges and agrees that (i) the grants of Liens pursuant to the Senior Priority Collateral Documents and the Junior Priority Collateral Documents constitute separate and distinct grants of Liens and (ii) the Senior Priority Obligations are fundamentally different from the Junior Priority Obligations and must be separately classified in any Plan of Reorganization proposed or adopted in an Insolvency Proceeding because of, among other things, their differing rights in the Collateral.

• This Agreement is the First/Second Lien Intercreditor Agreement referred to in the Original First Lien Credit Agreement, the Original Second Lien Credit Agreement, each Additional Credit Facility, the Senior Priority Collateral Documents, the Junior Priority Collateral Documents and the Additional Collateral Documents.

• The Junior Priority Collateral Agent, on behalf of itself and each Junior Priority Claimholder, acknowledges and agrees that no Senior Priority Collateral Agent or other Senior Priority Claimholder has made any express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the Senior Priority Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon.

More Definitions of Junior Priority Collateral

Junior Priority Collateral means (a) with respect to the ABL Agent and any other ABL Secured Party, Term Priority Collateral and (b) with respect to the Term Agent and any other Term Secured Party, ABL Priority Collateral.

Junior Priority Collateral means any and all Collateral that secures or purports to secure any Junior Priority Obligations.

Junior Priority Collateral means, (a) with respect to the ABL Priority Obligations, all Collateral other than ABL Priority Collateral, and (b) with respect to the Note Priority Obligations, all Collateral other than Note Priority Collateral.

Junior Priority Collateral means any “Collateral” (or similar term) as defined in any Junior Priority Collateral Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted pursuant to a Junior Priority Collateral Document as security for any Junior Priority Obligation, and, at any time of determination, is a valid and perfected Lien that has not been avoided, disallowed, set aside, invalidated, or subordinated pursuant to Chapter 5 of the Bankruptcy Code, including, to the extent provided in the Junior Priority Collateral Documents, the “Account Collateral” as defined in the GenOn Depositary Agreement or the REMA Depositary Agreement, each as in effect on the date hereof.

Junior Priority Collateral means each Grantor’s rights, title and interest in, to or under any assets, whether real, personal or mixed, with respect to which a Lien is now or hereafter granted (or purported or required to be granted) as security for any Junior Priority Obligations.

Junior Priority Collateral means with respect to (a) the Notes Secured Parties, the CoBank Priority Collateral and (b) the CoBank Secured Parties, the Notes Priority Collateral.

Junior Priority Collateral means the Company’s right, title and interest in and to the Pledged Shares, the certificates representing such Pledged Shares, all options and other rights, contractual or otherwise, in respect thereof and all dividends, distributions, cash, instruments, investment property and other property (including but not limited to, any stock dividend and any distribution in connection with a stock split) from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Shares.