Non-Cash Pay Second Lien Obligations definition

Non-Cash Pay Second Lien Obligations means the Obligations (as defined in the Non-Cash Pay Second Lien Indenture) in respect of the Non-Cash Pay Second Lien Securities.
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Non-Cash Pay Second Lien Obligations and collectively with the Cash Pay Second Lien Obligations, the “Second Lien Obligations”) are secured by the liens and security interests granted under the Security Documents defined in the Non-Cash Pay Second Lien Indenture (the “Non-Cash Pay Security Agreements” and collectively with the Cash Pay Security Agreements, the “Second Lien Security Agreements”).
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Examples of Non-Cash Pay Second Lien Obligations in a sentence

  • In order to enter Technium Digital@Sony, companies must meet the standard Technium entry criteria (see Appendix 1).

  • As a result of the agreement that the Liens securing the Cash Pay Second Lien Obligations and the Non-Cash Pay Second Lien Obligations are to be equal in priority, the parties hereto have agreed on a procedure whereby the Non-Cash Pay Second Lien Collateral Agent would undertake Enforcement Actions under the Non-Cash Pay Second Lien Collateral Documents.

  • If the new Non-Cash Pay Second Lien Obligations under the new Non-Cash Pay Second Lien Note Documents are secured by assets of the Grantors of the type constituting Collateral that do not also secure the Cash Pay Second Lien Obligations, then the Cash Pay Second Lien Obligations shall be secured at such time by a second priority Lien having an equal priority with the Non-Cash Pay Second Lien Obligations on such assets to the same extent provided in the Cash Pay Second Lien Collateral Documents.

  • Nothing in this Agreement is intended to or shall impair the obligations of the Issuers or any other Grantor, which are absolute and unconditional, to pay the Non-Cash Pay Second Lien Obligations and the Cash Pay Second Lien Obligations as and when the same shall become due and payable in accordance with their terms.

  • Upon the Discharge of Non-Cash Pay Second Lien Obligations, the Non-Cash Pay Second Lien Collateral Agent shall deliver to the Cash Pay Second Lien Claimholders or their designee the Control Collateral together with any necessary endorsements (or otherwise allow Cash Pay the Second Lien Claimholders to obtain control of such Control Collateral) or as a court of competent jurisdiction may otherwise direct.

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  • Promptly, and in any event within three business days, after the receipt of written notice by Non-Cash Pay Second Lien Claimholders of Payment in Full of the Non-Cash Pay Second Lien Obligations, the Non-Cash Pay Second Lien Collateral Agent shall provide written notice to the Cash Pay Second Lien Trustee and the Cash Pay Second Lien Collateral Agent that the Discharge of Non-Cash Pay Second Lien Obligations has occurred.

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  • Except as set forth in Section 6.3, the Cash Pay Second Lien Claimholders assent to any extension or postponement of the time of payment of the Non-Cash Pay Second Lien Obligations or any part thereof and to any other indulgence with respect thereto, to any substitution, exchange or release of any security which may at any time secure any part of the Non-Cash Pay Second Lien Obligations and to the addition or release of any other Person primarily or secondarily liable therefor.

  • Each Non-Cash Pay Second Lien Claimholder further agrees that any payments or other distributions, whether in cash, securities or other property (other than scheduled interest payments paid in kind), received by or for the benefit of a Non-Cash Pay Second Lien Claimholder in respect of such Claimholder’s Non-Cash Pay Second Lien Obligations (both before and after maturity thereof) in any manner and from any source whatsoever shall be conclusively presumed to constitute Collateral or proceeds of Collateral.

Related to Non-Cash Pay Second Lien Obligations

  • Second Lien Obligations means the “Obligations” as defined in the Second Lien Credit Agreement.

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • Other First Lien Obligations means the “Other First Lien Obligations” as defined in the Collateral Agreement, including any interest accruing after commencement of any bankruptcy or insolvency proceeding with respect to any holder of Other First Lien Obligations whether or not allowed in such proceeding.

  • Additional Second Lien Obligations means, with respect to any Grantor, any obligations of such Grantor owed to any Additional Second Lien Secured Party (or any of its Affiliates) in respect of the Additional Second Lien Documents.

  • Initial Additional First Lien Obligations means the [Obligations] as such term is defined in the Initial Additional First-Lien Security Agreement.

  • Priority Lien Obligations means Priority Lien Debt and all other Obligations in respect thereof.

  • First Lien Obligations means, collectively, (a) all First Lien Credit Facility Obligations, (b) all Secured Notes Obligations and (c) all Other First Lien Obligations.

  • Discharge of Second Lien Obligations means the occurrence of all of the following:

  • Second Lien Debt means the Indebtedness and guarantees thereof now or hereafter incurred pursuant to the Second Lien Documents. Second Lien Debt shall include any Registered Equivalent Notes and guarantees thereof by the Grantor issued in exchange thereof.

  • Second Lien Indebtedness means the Indebtedness of the Loan Parties owing to the Second Lien Agent and the Second Lien Lenders under the Second Lien Credit Agreement, which Indebtedness is on terms and conditions reasonably acceptable to the Collateral Agent.

  • First Lien Indebtedness means the First Lien Loans, any First Lien Additional Indebtedness, and any First Lien Credit Agreement Refinancing Indebtedness.

  • Parity Lien Obligations means Parity Lien Debt and all other Obligations in respect thereof.

  • Other Pari Passu Lien Obligations means any Indebtedness or other Obligations (including Hedging Obligations) having Pari Passu Lien Priority relative to the Notes with respect to the Collateral; provided that an authorized representative of the holders of such Indebtedness shall have executed a joinder to the ABL-Notes Intercreditor Agreement and a joinder to the Pari Passu Intercreditor Agreement or the Pari Passu Intercreditor Agreement.

  • Senior Lien Obligations means all revenue bonds and other obligations of the RECIPIENT outstanding on the date of execution of this loan agreement (or subsequently issued on a parity therewith, including refunding obligations) or issued after the date of execution of this loan agreement having a claim or lien on the Gross Revenue of the Utility prior and superior to the claim or lien of the loan, subject only to Maintenance and Operation Expense.

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuers, Holdings and any of Holdings’ Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuers, Holdings or any of Holdings’ Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services in connection with Indebtedness described in clause (i) or Obligations described in clause (ii).

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

  • First Lien Debt means the Initial First Lien Debt and any Additional First Lien Debt.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Junior Lien Obligations means Junior Lien Debt and all other Obligations in respect thereof.

  • Discharge of First Lien Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.

  • Consolidated First Lien Indebtedness means Consolidated Indebtedness that is secured by a first priority Lien (other than Permitted Liens) on assets of any Borrower or Restricted Subsidiary.

  • Priority Lien Debt means Indebtedness of the Company and the Subsidiary Guarantors under the Priority Lien Credit Agreement (including reimbursement obligations with respect to letters of credit).

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • Consolidated First Lien Debt means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a first priority Lien on any asset or property of such Person or its Restricted Subsidiaries that constitutes Collateral.

  • Senior Secured Obligations means (a) with respect to the Revolving Facility Obligations (to the extent such Obligations are secured by the Noteholder First Lien Collateral), the Noteholder Obligations, and (b) with respect to Noteholder Obligations (to the extent such Obligations are secured by the Revolving Facility First Lien Collateral), the Revolving Facility Obligations.

  • Second Lien Collateral Documents means the “Security Documents” or “Collateral Documents” (as defined in the applicable Second Lien Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any Second Lien Obligations or pursuant to which any such Lien is perfected.