New First Lien Collateral Agent definition

New First Lien Collateral Agent shall have the meaning assigned to such term in Section 7.02.
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New First Lien Collateral Agent means (i) so long as obligations are outstanding under the New First Lien Agreements, Bank of America, N.A., in its capacity as collateral agent for the noteholders and other secured parties under the New First Lien Agreements and the other security documents thereunder, and (ii) at any time thereafter, such agent or trustee as is designated “New First Lien Collateral Agent” by the New First Lien Secured Parties holding a majority in principal amount of the New First Lien Obligations then outstanding or pursuant to such other arrangements as agreed to among the holders of the New First Lien Obligations; it being understood that as of the date of this Agreement, Bank of America, N.A. shall be such New First Lien Collateral Agent.
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New First Lien Collateral Agent shall be deemed to be the First Lien Collateral Agent for all purposes of this Agreement and (v) the lenders under the New First Lien Loan Documents shall be deemed to be the First Lien Lenders for all purposes of this Agreement. Upon receipt of a Refinancing Notice, which notice shall include the identity of the New First Lien Collateral Agent, the Second Lien Collateral Agent shall promptly enter into such documents and agreements (including amendments or supplements to this Agreement) as the Borrower or such New First Lien Collateral Agent may reasonably request in order to provide to the New First Lien Collateral Agent the rights and powers contemplated hereby, in each case consistent in all respects with the terms of this Agreement. The Borrower shall cause the agreement, document or instrument pursuant to which the New First Lien Collateral Agent is appointed to provide that the New First Lien Collateral Agent agrees to be bound by the terms of this Agreement. In furtherance of Section 2.03, if the New First Lien Obligations are secured by Property of the Grantors that do not also secure the Second Lien Obligations, the applicable Grantors shall promptly grant a Second Priority Lien on such Property to secure the Second Lien Obligations.
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Examples of New First Lien Collateral Agent in a sentence

  • This Agreement is solely for the benefit of the ABL Collateral Agent, the ABL Secured Parties, the New First Lien Collateral Agent and the New First Lien Secured Parties.

  • The New First Lien Collateral Agent, on behalf of itself and the New First Lien Secured Parties, agrees not to seek relief from the automatic stay or any other stay in any Insolvency Proceeding in respect of any portion of the Common Collateral without the ABL Collateral Agent’s express written consent.

  • The ABL Collateral Agent is hereby authorized to make any such endorsements as agent for the New First Lien Collateral Agent or the New First Lien Secured Parties.

  • The New First Lien Collateral Agent acknowledges and agrees that the relative priorities, as among the New First Lien Secured Parties, the holders of Obligations under the CF Credit Agreement and any Additional First Lien Secured Parties (as defined in the First Lien Intercreditor Agreement), of the Liens granted on Common Collateral are governed by the First Lien Intercreditor Agreement.

  • The New First Lien Collateral Agent appoints the ABL Collateral Agent, and the ABL Collateral Agent expressly accepts such appointment, to act as agent of the New First Lien Collateral Agent and the New First Lien Secured Parties under each control agreement with respect to all ABL Controlled Accounts for the purpose of perfecting the respective security interests granted under the New First Lien Security Documents.

  • In exercising remedies, whether as a secured creditor or otherwise, the ABL Collateral Agent shall have no obligation or liability to the New First Lien Collateral Agent or any New First Lien Secured Party regarding the adequacy of any proceeds realized on any collateral or for any action or omission, save and except solely for an action or omission that breaches the express obligations undertaken by each Party under the terms of this Agreement.

  • The ABL Collateral Agent and the New First Lien Collateral Agent each hereby agrees that no party shall have any duty to advise any other party of information known to it regarding such condition or any such circumstances.

  • They are located on the lower level of the library, as is also a Video Teleconferencing Classroom.

  • The New First Lien Collateral Agent is not nor shall it be deemed to be a fiduciary of any kind for any other Collateral Agent or Secured Party, or any other Person.

  • No amendment or waiver of any provision of this Agreement nor consent to any departure by any Party hereto shall be effective unless it is in a written agreement executed by the New First Lien Collateral Agent and the ABL Collateral Agent, and consented to in writing by the Company, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.


More Definitions of New First Lien Collateral Agent

New First Lien Collateral Agent means Wilmington Trust, National Association (together with its successors).
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New First Lien Collateral Agent has the meaning specified in Section 5.4. “New First Lien Debt Notice” has the meaning set forth in Section 5.4. “Notice of Event of Default” has the meaning set forth in Section 7.5. “Obligation” means all payment obligations of every nature of each Loan Party from time to time owed to any Secured Party or any of their respective Affiliates under any Financing Document, whether for principal, interest (including interest which, but for the filing of a petition in bankruptcy with respect to such Loan Party, would have accrued on any Obligation, whether or not a claim is allowed against such Loan Party for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, Ordinary Course Settlement Payments or Termination Payments under Secured Commodity Hedge and Power Sale Agreement, premiums, fees, expenses, indemnification or otherwise. “Ordinary Course Settlement Payments” means all regularly scheduled payments due under any Commodity Hedge and Power Sale Agreement or Hedge Agreement from time to time, calculated in accordance with the terms of such Commodity Hedge and Power Sale Agreement or Hedge Agreement, as applicable, including “Fixed Rate” payment amounts, but excluding, for the avoidance of doubt any “Settlement Amounts” or “Termination Payments” due and payable under such Commodity Hedge and Power Sale Agreement or Hedge Agreement. “Other Credit Support” means, with respect to any Secured Commodity Hedge and Power Sale Agreement, any (i) letter of credit, (ii) guaranty or (iii) cash collateral issued or pledged, as applicable, in favor of any Commodity Hedge Counterparty to support the Obligations of the Loan Party Counterparty under such Secured Commodity Hedge and Power Sale Agreement (other than any such guaranty issued by a Loan Party) which (a) satisfies the requirements of such Secured Commodity Hedge and Power Sale Agreement with respect to letters of credit, guaranties or cash, as applicable, and (b) is permitted under all of the Financing Documents. “Other Credit Support Amount” means, at any time, with respect to any Secured Commodity Hedge and Power Sale Agreement, the sum of (a) the Available Amount of any letter of credit issued in favor of the relevant Commodity Hedge Counterparty to support the Obligations of the Loan Party Counterparty under such Secured Commodity Hedge and Power Sale Agreement plus (b) the amount of any guaranty issued in favor of the relevant Commodity
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Related to New First Lien Collateral Agent

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • ABL Agent means Bank of America, N.A., in its capacity as administrative agent and collateral agent under the ABL Facility Documentation, or any successor agent or under the ABL Facility Documentation.