Pari Passu Payment Lien Obligations means all obligations (including interest that accrues after the commencement of an insolvency or bankruptcy case, regardless of whether such interest is an allowed claim under such case) outstanding under the Pari Passu Payment Lien Documents.
Pari Passu Payment Lien Obligations means any Additional Notes and any other Indebtedness that has a stated maturity date that is longer than the Senior Secured Notes and that is permitted to have Pari Passu Payment Lien Priority relative to the Senior Secured Notes with respect to the Collateral and is not secured by any other assets; provided that an authorized representative of the holders of such Indebtedness (other than any Additional Notes) shall have executed a joinder to the Collateral Documents in the form provided therein.
Pari Passu Payment Lien Obligations means any Indebtedness having equal Lien priority to the Senior Notes and Notes Guarantees (or any Permitted Refinancing thereof), as the case may be, with respect to the Collateral and that is not secured by any other assets; provided that (i) it is so designated as Pari Passu Payment Lien Obligations in an officers’ certificate delivered to the Collateral Agent and (ii) an authorized representative of the holders of such Indebtedness shall have executed a joinder to the Security Agreement in the form provided therein. For the avoidance of doubt, Pari Passu Payment Lien Obligations shall not include Priority Payment Lien Obligations.
Examples of Pari Passu Payment Lien Obligations in a sentence
Such monies and other property and assets shall be applied (x) in the case of Indenture Obligations, in the manner provided in the Section 7.10 of the Indenture and (y) in the case of Pari Passu Payment Lien Obligations, in accordance with the relevant Pari Passu Payment Lien Documents that evidence or govern such Pari Passu Payment Lien Obligations.
Subject to the provisions of this Agreement, each of the Notes Collateral Agent and the other Secured Parties may exercise rights and remedies as an unsecured creditor against the Issuer or any Guarantor that has guaranteed the Indenture Obligations or the Pari Passu Payment Lien Obligations, if any, in accordance with the terms of the Indenture Documents, the Pari Passu Payment Lien Documents, and applicable law.
This Agreement shall continue to be effective so long as any Credit Facility Claims, Excess Credit Facility Claims, Indenture Obligations, Excess Indenture Obligations, Pari Passu Payment Lien Obligations or Excess Pari Passu Payment Lien Obligations remain outstanding.
More Definitions of Pari Passu Payment Lien Obligations
Pari Passu Payment Lien Obligations means all Obligations in respect of any Pari Passu Indebtedness or arising under Pari Passu Payment Lien Documents, including Obligations arising under Section 6.5(b); provided that notwithstanding the foregoing, if the aggregate principal amount of Indebtedness under the Pari Passu Payment Lien Documents exceeds the Maximum Pari Passu Indebtedness Principal Amount, then all such principal amounts in excess thereof (and any interest on such excess principal amounts) shall not constitute Pari Passu Payment Lien Obligations but shall instead constitute Excess Pari Passu Payment Lien Obligations.
Pari Passu Payment Lien Obligations means any other Indebtedness that is permitted to have Pari Passu Payment Lien Priority relative to the Notes with respect to the Collateral and is not secured by any other assets; provided that an authorized representative of the holders of such Indebtedness shall have executed a joinder to the Intercreditor Agreement and the Collateral Agent Agreement in the forms provided therein.
Pari Passu Payment Lien Obligations means (1) the Senior Secured Notes Obligations (including obligations in respect of any Additional Notes (as defined in the Senior Secured Notes Indenture) and (ii) any Additional First Lien Obligations identified as Pari Passu Payment Lien Obligations in accordance with Article VII.
Pari Passu Payment Lien Obligations means any Additional Notes and any other Indebtedness that has a stated maturity date that is longer than the Notes and that is permitted to have Pari Passu Payment Lien Priority relative to the Notes with respect to the Collateral and is not secured by any other assets; provided that an authorized representative of the holders of such Indebtedness (other than any Additional Notes) shall have executed a joinder to the Security Documents in the form provided therein. For the avoidance of doubt, Pari Passu Payment Lien Obligations shall not include Priority Payment Lien Obligations.
Pari Passu Payment Lien Obligations any Additional Secured Obligations having Pari Passu Payment Lien Priority relative to the Notes with respect to the Collateral that are not secured by any other assets, to the extent that such Additional Secured Obligations are permitted to be “Pari Passu Payment Lien Obligations” pursuant to the Indenture; provided that (i) they are designated as Pari Passu Payment Lien Obligations in an Officers’ Certificate delivered by the Borrower to the Collateral Agent and such certificate confirms that such Additional Secured Obligations are permitted to be “Pari Passu Payment Lien Obligations” pursuant to the Indenture and (ii) an Authorized Representative of the holders of such Indebtedness shall have executed a Secured Party Security Agreement Supplement. For the avoidance of doubt, Pari Passu Payment Lien Obligations shall not include Priority Lien Obligations.
Pari Passu Payment Lien Obligations means any Additional Notes and any other Indebtedness that is permitted to have Pari Passu Payment Lien Priority relative to the Notes with respect to the Collateral and is not secured by any other assets; provided that an authorized representative of the holders of such Indebtedness (other than any Additional Notes) shall have executed a joinder to the Intercreditor Agreement and the Collateral Agent and Administrative Agent Appointment Deed in the forms provided therein. For the avoidance of doubt, Pari Passu Payment Lien Obligations shall not include Priority Payment Lien Obligations.
Pari Passu Payment Lien Obligations means any Additional Notes and any other Indebtedness that is permitted to have Pari Passu Payment Lien Priority relative to the Notes with respect to the Collateral and is not secured by any other assets; provided that an authorized representative of the holders of such Indebtedness (other than any Additional Notes) shall have executed a joinder to the Security Documents in the form provided therein.