Payment Liabilities definition

Payment Liabilities means all Liabilities other than contingent obligations of Borrower with respect to which neither Agent nor any Lender has asserted a claim against Borrower or against which Borrower has provided reserves or Collateral satisfactory to Agent or such Lender; provided, that Payment Liabilities shall include the Letter of Credit Obligations.
View Source
Payment Liabilities has the meaning ascribed to it in Section 2.2.
View Source

Examples of Payment Liabilities in a sentence

  • The foregoing appointment and power, being coupled with an interest, is irrevocable until all Payment Liabilities under this Agreement are paid and performed in full and this Agreement is terminated.

  • Distributing shall be allocated all TSA Payment Liabilities and TSA Payment Benefits and, in each case, any Taxes, Tax Items or Losses related thereto.

  • For the avoidance of doubt, the Excluded DE Lease Payment Liabilities shall be Excluded DE Liabilities.

  • Medicare, Medicaid, and Other Third-Party Payor Payment Liabilities.

  • Chapters cover: The Contractor’s main responsibilities the use of early warnings Contractor’s design Tendering Quality management Payment Liabilities and insurance Termination Avoiding and resolving disputes and much more.

  • Except during the existence and continuance of an Event of Default, all funds in Borrower's Depository Accounts shall be available to Borrower, at its direction (except to the extent such funds are to be applied to the Payment Liabilities as otherwise provided in this Agreement).

  • Such license shall remain in full force and effect until this Agreement has been terminated and all of the Payment Liabilities have been repaid in full.

  • Default in the payment, when due or declared due, of any amount of principal of any Revolving Loan, or default in the payment, within three (3) days after the same shall become due, of any of the other Payment Liabilities.

  • Any amounts remaining in any cash collateral account established pursuant to this paragraph (d) following the first to occur of the nonexistence of all Events of Default or the reimbursement in full of all Payment Liabilities in respect of outstanding Letter of Credit Obligations, shall be returned to Borrower.

  • During the continuance of an Event of Default, any proceeds of the Collateral and any other payments received by Agent may be applied by Agent to the payment of expenses in connection with the taking possession of, storing, preparing for sale, and disposition of Collateral, including Attorneys' Fees and legal expenses, and any balance of such proceeds may be applied by Agent toward the payment of such of the Payment Liabilities, and in such order of application, as Agent may from time to time elect.