Other First Lien Debt definition
Other First Lien Debt means obligations secured by Other First Liens.
Other First Lien Debt means obligations secured by Liens on the Collateral that are equal and ratable with the Liens thereon securing the Term B-1 Loans pursuant to an intercreditor agreement reasonably satisfactory to the Administrative Agent.
Other First Lien Debt means the First Lien Notes, the 2025 First Lien Notes and other obligations secured by Other First Liens.
Examples of Other First Lien Debt in a sentence
Designate, or permit the designation of, any Indebtedness as “Designated Senior Debt” or any other similar term for the purpose of the definition of the same or the subordination provisions contained in any indenture governing any senior subordinated notes permitted to be incurred hereunder that constitute Material Indebtedness other than (a) the Obligations under this Agreement and the other Loan Documents, (b) any Permitted Refinancing Indebtedness thereof and (c) any series of Other First Lien Debt.
For all purposes hereof and the First Lien/First Lien Intercreditor Agreement, the Issuer hereby designates the obligations pursuant to the First-Priority Notes Indenture as in effect on the Closing Date as Other First Lien Debt.
More Definitions of Other First Lien Debt
Other First Lien Debt means obligations secured by Other First Liens. On the Closing Date, the Senior Secured Notes constitute Other First Lien Debt hereunder.
Other First Lien Debt means any obligations secured by Other First Liens. For the avoidance of doubt, no Other First Lien Debt shall rank senior to any Obligations in lien priority or, except for the obligations under the Series A Revolving Facility, in right of payment.
Other First Lien Debt means Indebtedness of the type described in clauses (a) and (b) of the definition thereof secured by Other First Liens.
Other First Lien Debt means obligations secured by Other First Liens. For the avoidance of doubt, notwithstanding any other provision in any Note Document, neither the Issuer nor any of its Subsidiaries shall be permitted to incur any Other First Lien Debt that has priority under the Priority Waterfall except for the incurrence of Permitted Exchange Notes and Permitted Redemption Indebtedness (and Permitted Refinancing Indebtedness in respect thereof), in each case, to the extent expressly permitted hereunder and which shall, for the avoidance of doubt, rank junior in right of payment to the Obligations as contemplated by the definitions of “Permitted Exchange Notes” and “Permitted Redemption Indebtedness”, as applicable.
Other First Lien Debt means Indebtedness secured by Other First Liens. “Other First Liens” shall mean Liens on the Collateral that are pari passu with the Liens thereon securing the Initial Revolving Loans (and other Loan Obligations that are pari passu with the Initial Revolving Loans) pursuant to a Permitted Pari Passu Intercreditor Agreement. “Other Revolving Facility Commitments” shall mean Incremental Revolving Facility Commitments to make Other Revolving Loans. “Other Revolving Loans” shall have the meaning assigned to such term in Section 2.21. “Other Taxes” shall mean any and all present or future stamp or documentary Taxes or any other intangible, mortgage recording or similar Taxes arising from any payment made hereunder or under any other Loan Document or from the execution, registration, delivery or enforcement of, consummation or administration of, from the receipt or perfection of a security interest under, or otherwise with respect to, the Loan Documents, except any such Taxes imposed with respect to an assignment. “Other Term Loans” shall have the meaning assigned to such term in Section 2.21 (including in the form of Extended Term Loans or Refinancing Term Loans, as applicable). “Parent” means Driven Brands Holdings Inc., a Delaware corporation. “Parent Entity” shall mean Holdings or any other direct or indirect parent of the Borrower. “Participant” shall have the meaning assigned to such term in Section 9.04(d)(i). “Participant Register” shall have the meaning assigned to such term in Section 9.04(d)(ii). “Payment” shall have the meaning assigned to such term in Section 8.14(b). “Payment Directive” shall mean (i) in respect of the Existing Securitization Facility, the written instruction, from Driven Brands, Inc. to Driven Funding Holdco, LLC to cause Driven Funding Holdco, LLC to deposit any and all cash distributed by it to the Borrower or a Subsidiary as described therein and (ii) in respect of any other Permitted Securitization Financing, one or more payment direction(s) in respect of the Residual Amount for such Permitted Securitization Financing on substantially similar terms and subject to substantially similar limitations as the Payment Directive for the Existing Securitization Facility. “Payment Notice” shall have the meaning assigned to such term in Section 8.14(b). “PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA. “Perfection Certificate” shall mean the Perfection Certificate with respect to the Loan Partie...
Other First Lien Debt means obligations secured by Other First Liens. “Other First Liens” shall mean Liens on the Collateral that are pari passu with the Liens thereon securing the Term B Loans (and other Loan Obligations that are pari passu with the Term B Loans) pursuant to a Permitted Pari Passu Intercreditor Agreement.
Other First Lien Debt means Indebtedness secured by Other First Liens. “Other First Liens” shall mean Liens on the Collateral that are pari passu with the Liens thereon securing the Initial Revolving Loans or the 2025 Extended Revolving Loans (and other Loan Obligations that are pari passu with the Initial Revolving Loans or the 2025 Extended Revolving Loans) pursuant to a Permitted Pari Passu Intercreditor Agreement. “Other Revolving Facility Commitments” shall mean Incremental Revolving Facility Commitments to make Other Revolving Loans. “Other Revolving Loans” shall have the meaning assigned to such term in Section 2.21. “Other Taxes” shall mean any and all present or future stamp or documentary Taxes or any other intangible, mortgage recording or similar Taxes arising from any payment made hereunder or under any other Loan Document or from the execution, registration, delivery or enforcement of, consummation or administration of, from the receipt or perfection of a security interest under, or 52 Doc#: US1:15347125v11