Priority Agreements definition
Examples of Priority Agreements in a sentence
Until the First Priority Obligations Payment Date has occurred, the Designated First Priority Representative shall have the sole and exclusive right, as against the Second Priority Representative, to adjust or settle any insurance claims in the event of any covered loss, theft or destruction of Common Collateral to the extent provided for, and in accordance with, the First Priority Agreements.
I/we have the authority to execute this Repayment Agreement including the Worksheets, Priority Agreement(s), and all scheduled documents attached hereto by way of electronic signature, and where signed by electronic signature shall abide by all policies of the Administrator with respect to electronic signatures and execution.
Until the First Priority Obligations Payment Date has occurred, the First Priority Representative shall have the sole and exclusive right, as against the Second Priority Representative, to adjust or settle any insurance claims in the event of any covered loss, theft or destruction of Common Collateral to the extent provided for, and in accordance with, the First Priority Agreements.
Only one such Priority Agreement shall be outstanding at any one time or, if more than one such Priority Agreement is outstanding at any one time, the collective terms of such Priority Agreements must be no more disadvantageous to the Holders of the Notes than if all such Indebtedness was a party to one such Priority Agreement.
The Junior Priority Representative on behalf of itself and the Junior Priority Secured Parties acknowledges that the terms of the First Priority Obligations may, subject to the terms of the Junior Priority Agreements, be modified, extended or amended from time to time, and that the aggregate amount of the First Priority Obligations may be increased, replaced or refinanced, in each event, without notice to or consent by the Junior Priority Secured Parties and without affecting the provisions hereof.
Capitalized terms used but not otherwise defined herein have the meanings assigned to such terms in the Existing First Priority Agreements referred to below.
MassHousing agrees that it will permit borrowers of developments with an elderly restriction that are subject to Existing Agreements to participate in the 3% Priority and to execute 3% Priority Agreements in connection therewith.; such 3% Priority Agreements will replace the Existing Agreements with respect to those developments.
Revolving Loan Agent shall have the right one (1) time in any twelve (12) month period, but not any obligation, to cure any events of default under the Noteholder Agreements or the Third Priority Agreements for the account of Debtor or any of Obligors within fifteen (15) days after the receipt by Congress of written notice of such event of default from the Creditor or thereafter with the consent of Creditor.
If the First Priority Representative and Second Priority Representative are to be named as loss payees with respect to insurance policies relating to Common Collateral, pursuant to the terms of the First Priority Agreements and the Second Priority Agreements, as applicable, the First Priority Representative will be a loss payee until the First Priority Obligations Payment Date and thereafter the Second Priority Representative will be a loss payee until the Second Priority Obligations are paid in full.
From and after the date hereof, except with respect to registration rights granted by the Company pursuant to the Priority Agreements, the Company shall not enter into any agreement granting any holder or prospective holder of any securities of the Company registration rights with respect to such securities unless such new registration rights are pari passu with, subordinate to, or otherwise do not materially adversely affect the rights of Holders granted hereunder.