Examples of Permitted First Lien Indebtedness in a sentence
At the request of the Borrower, the Collateral Agent shall enter into a Permitted First Lien Intercreditor Agreement establishing the relative rights of the Secured Parties and of the secured parties under the Permitted First Lien Indebtedness or Permitted First Lien Refinancing Indebtedness, as the case may be, with respect to the Collateral.
The Lenders acknowledge that obligations of the Loan Parties under any Permitted First Lien Indebtedness or Permitted First Lien Refinancing Indebtedness will be secured by Liens on assets of Xxxxx 0, the Borrower and the other Loan Parties that constitute Collateral.
Level 3 shall not, and shall not permit any Restricted Subsidiary to, amend, supplement or otherwise modify (pursuant to waiver or otherwise) the terms and conditions of any documentation governing any Permitted First Lien Indebtedness or Permitted First Lien Refinancing Indebtedness in violation of the terms of the applicable Permitted First Lien Intercreditor Agreement.
The New Second Lien Notes would be in the aggregate principal amount of $450 million, would be for a term of six (6) years (subject to certain adjustments), bear interest at a rate equal to LIBOR, plus an applicable margin equal to 300 basis points over the highest all-in yield of any Permitted First Lien Indebtedness (as defined in Exhibit I.A.150151.
With respect to the incurrence or issuance by the Loan Parties of any Permitted First Lien Indebtedness, each of the Lenders hereby authorizes and directs the Administrative Agent to enter into one or more Intercreditor Agreements (or replacement agreements) on behalf of such Lender and agrees that the Administrative Agent in its various capacities thereunder may take such actions on its behalf as is contemplated by the terms of any such Intercreditor Agreements (or replacement agreements).