Junior Priority Obligations definition

Junior Priority Obligations means the Initial Junior Priority Obligations and any Additional Obligations constituting Junior Priority Debt.

Junior Priority Obligations means [the [ ]i Second Lien Obligations and]vii any Additional Obligations constituting Junior Priority Debt.

Junior Priority Obligations means the Obligations with respect to any Indebtedness permitted to be incurred under this Indenture and having Junior Lien Priority relative to the Secured Notes Obligations; provided, that such Lien is permitted to be incurred under this Indenture, and provided further, that the holders of such indebtedness or their Junior Priority Representative shall become party to a Junior Priority Intercreditor Agreement.

Examples of Junior Priority Obligations in a sentence

• Notwithstanding anything to the contrary contained in this Agreement, the Junior Priority Obligations may be secured by assets (including assets of the Borrower and the Grantors) that do not secure the Senior Obligations and any such assets shall not constitute Shared Collateral for any purpose hereunder.

• Nothing in this Agreement is intended to or shall impair the rights or obligations of the Borrower or any other Grantor, which obligations are absolute and unconditional, to pay the Senior Obligations and the Junior Priority Obligations as and when the same shall become due and payable in accordance with their terms.

• All Liens on the Shared Collateral securing any Senior Obligations shall be and remain senior in all respects and prior to all Liens on the Shared Collateral securing any Junior Priority Obligations for all purposes, whether or not such Liens securing any Senior Obligations are contractually subordinated to any Lien securing any other obligation of the Borrower, any other Grantor or any other Person.

• The Lien priorities provided for in Section 2.01 shall not be altered or otherwise affected by any amendment, restatement, amendment and restatement, replacement, supplement or other modification, or any Refinancing, of either the Senior Obligations or the Junior Priority Obligations, or any portion thereof.

• Notwithstanding the foregoing, it is understood and agreed that the Junior Priority Obligations may consist of one or more classes of secured obligations with different Lien priorities and that solely as among the Junior Priority Secured Parties the provisions of the Collateral Trust Agreement shall govern over any conflict with this Agreement.

More Definitions of Junior Priority Obligations

Junior Priority Obligations as defined in the Base Intercreditor Agreement.

Junior Priority Obligations the obligations with respect to any Indebtedness having Junior Lien Priority relative to the Obligations; provided that such Lien is permitted to be incurred under this Agreement, and provided further, that the holders of such Indebtedness or their Junior Priority Representative shall become party to a Junior Priority Intercreditor Agreement.

Junior Priority Obligations means the Obligations in respect of the Existing Junior-Priority Secured Notes (including the Guarantees thereof) and any Additional Junior-Priority Obligations secured by the Collateral on a pari passu basis (but without regard to control of remedies) with any series of Existing Junior-Priority Secured Notes.

Junior Priority Obligations means the Junior Priority Notes and Obligations with respect to other Indebtedness permitted to be Incurred under the Junior Priority Notes Indentures, the ABL Facility Documents, the Existing First Lien Notes Indentures and this Indenture, as applicable, which is by its terms intended to be secured equally and ratably with any series of the Junior Priority Notes or on a basis junior to the Liens securing any series of the Junior Priority Notes or First Priority Lien Obligations; provided such Lien is permitted to be Incurred under the Junior Priority Notes Indentures, the ABL Facility Documents, the Existing First Lien Notes Indentures and this Indenture.

Junior Priority Obligations means the Note Obligations and any Additional Obligations constituting Junior Priority Debt.

Junior Priority Obligations means all Obligations in respect of the Junior Priority Notes and any other Indebtedness that is in each case secured solely by Liens that are subordinated to the Liens securing the Notes Obligations pursuant to the Junior Priority Intercreditor Agreement.

Junior Priority Obligations means all “[ ]” under the [ ] and all other Obligations arising under the Junior Priority Documents, including all fees and expenses of the Junior Priority Representative. To the extent any payment with respect to any Junior Priority Obligation (whether by or on behalf of any Grantor, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in whole or in part, or is otherwise set aside or required to be returned or paid to a debtor in possession, any First Priority Secured Party, any receiver or any similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Junior Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.