Priority Collateral definition

Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

Priority Collateral means, as to the Term Loan Creditors, the Term Loan Priority Collateral, and, as to the Revolving Creditors, the Revolving Credit Priority Collateral, and, as to the Existing Notes Creditors, none of the Collateral. Priority Collateral also means, as to any Revolving Creditors, the Term Loan Priority Collateral to the extent securing Excess Term Obligations and as to any Term Loan Creditors, the Revolving Credit Priority Collateral to the extent securing Excess Revolving Credit Obligations; provided that the right of the Term Loan Creditors to take any Enforcement Action with respect to their Non-Priority Collateral, and the right of the Revolving Creditors to take any Enforcement Action with respect to their Non-Priority Collateral, and the right of the Existing Notes Creditors to take any Enforcement Action with respect to their Non-Priority Collateral shall in each case be subject to the provisions of Section 3.

Priority Collateral with respect to the Revolving Credit Claimholders, all ABL Collateral, and with respect to the Fixed Asset Claimholders, all Fixed Asset Collateral.

Examples of Priority Collateral in a sentence

• In the event that ABL Agent shall, in the exercise of its rights under the ABL Collateral Documents or otherwise, receive possession or control of any Books, ABL Agent shall, upon request from Term Loan Agent and as promptly as practicable thereafter, provide such Books to Term Loan Agent; ABL Agent may retain copies of such Books to use and to transfer in connection with the sale of any ABL Priority Collateral.

• Term Loan Agent will permit the ABL Agent to make copies of any Books and take possession of all documents of title for ABL Equipment necessary in connection with the sale of any ABL Priority Collateral.

• The foregoing to the contrary notwithstanding but subject to Section 2.2, the Term Loan Claimholders may oppose or raise any objections to such use of ABL Cash Collateral or ABL DIP Financing that could be raised by a creditor of Grantors whose claims are not secured by Liens on ABL Priority Collateral, provided that such opposition or objections are not based on their status as secured creditors.

More Definitions of Priority Collateral

Priority Collateral means, with respect to the ABL Debt, all ABL Priority Collateral, and with respect to the Term Loan Debt, all Term Loan Priority Collateral.

Priority Collateral as defined in any Second Priority Collateral Documents and shall also include the Mortgaged Properties and the proceeds thereof, but shall not in any event include the PCS/Drugstore Pledged Collateral or the Exchange Debt First Priority Collateral.

Priority Collateral means the certain personal and real property, assets and fixtures of the Grantors, whether now existing or hereafter arising, created or acquired, upon which a Priority Lien has been granted to, or hereafter is granted to or for the benefit of, the Priority Securityholders pursuant to the Priority Security Instruments.

Priority Collateral means, as to BFI, the Term Loan Priority Collateral (it being understood that the Revolving Lender has and will acquire no Lien on Term Loan Priority Collateral), and as to the Revolving Lender, the Revolving Credit Priority Collateral.

Priority Collateral with respect to the Revolving Claimholders, all Revolving Priority Collateral, and with respect to the Notes Claimholders, all Notes Priority Collateral.

Priority Collateral means (a) with respect to the ABL Secured Parties, the ABL Priority Collateral, or (b) with respect to the Term Loan Collateral Secured Parties, the Term Loan Priority Collateral.

Priority Collateral means the Senior Debt Priority Collateral or the Royal Gold Priority Collateral.