Priority Event means the occurrence of any one or more of the following: (a) the occurrence and continuance of an Event of Default under Section 10.1(a)(i) hereof with respect to any Borrower’s failure to pay any of the Obligations related to the Revolving Loans (including principal, interest, fees and expenses attributable thereto); (b) the occurrence and continuance of an Event of Default under Sections 10.1(g) or 10.1(h) hereof; or (c) the occurrence of any other Event of Default and the acceleration by Agent of the payment of all or a material portion of the Obligations related to the Revolving Loans.

Priority Event means the occurrence of any one or more of the following: (i) the occurrence and continuance of an Event of Default under Section 10.1(a)(i) of the Loan Agreement with respect to any Borrower’s failure to pay any of the Obligations arising pursuant to the Revolving Loans (including principal, interest, fees and expenses attributable thereto); (ii) the occurrence and continuance of an Event of Default under Sections 10.1(e), 10.1(f) or 10.1(g) of the Loan Agreement; (iii) the occurrence of any other Event of Default and the acceleration by Agent of the payment of all or a material portion of the Obligations; or (iv) Agent shall have received the written notice from Term B Loan Lender of a Term B Loan Action Default as provided in Section 10.2(i) of the Loan Agreement.

Priority Event means the occurrence of any one or more of the following: (i) the occurrence and continuance of an Event of Default under Section 9.1(a) hereof with respect to a US Borrower’s failure to pay any of the Obligations arising pursuant to the Revolving Loans (including principal, interest, fees and expenses attributable thereto); (ii) the occurrence and continuance of an Event of Default under Sections 9.1(f), 9.1(g) or 9.1(h) hereof; (iii) the occurrence of any other Event of Default and the acceleration by Agent of the payment of all or a material portion of the Obligations; (iv) Agent shall have received a Tranche B Loan Action Default Notice; (v) US Borrowers failure to make a repayment of the Tranche B Loan from Excess Cash Flow within thirty (30) days pursuant to Section 2.3(b)(ii) hereof; or (vi) the occurrence and continuance of a Canadian Priority Event.

Examples of Priority Event in a sentence

A prospect reservation for a Third Priority Event outside of six (6) months is subject to cancellation with a forty-eight (48) hour notice at the discretion of the JCC management.
A tentative reservation for a Third Priority Event more than six (6) months in advance of the event is subject to cancellation with a forty-eight (48) hour notice at the discretion of the Management.
If "delivery" is to be accomplished by mail, the Notice shall be deemed to be "delivered" when deposited in the United States mail, postage prepaid, addressed to the shareholder at the last address recorded for such shareholder in the stock ledger/book(s) of the Corporation.
With respect to each Type of Common Collateral, upon the occurrence and during the continuance of a First Priority Event of Default (and subject to the provisions of the First Priority Documents), the First Priority Representative and the other First Priority Secured Parties may take and continue any Enforcement Action with respect to the applicable First Priority Obligations and such Common Collateral in such order and manner as they may determine in their sole discretion.
The Priority UNLV Team Home Games shall be scheduled on any Saturday on which a Priority Event has not then been scheduled, and such nonconference UNLV Team Home Games will have priority over Major Events that have not then been scheduled (but not over any other Priority Events).

More Definitions of Priority Event

Priority Event means (i) prior to the occurrence of an Insolvency Proceeding by or against Borrowers or an Obligor, the occurrence of an Event of Default, all amounts of Revolver Debt becoming immediately due and payable and the taking of any Lien Enforcement Action by Foothill or the Collateral Agent (as the case may be), provided that any Priority Event occurring prior to an Insolvency Proceeding by or against Borrowers or an Obligor shall cease to constitute a Priority Event as of the occurrence of such Insolvency Proceeding if Foothill continues making loans or providing letter of credit accommodations or other financial accommodations (whether pursuant to the Revolver Loan Documents or otherwise) or consents to the use of cash collateral after the occurrence of such Insolvency Proceeding or (ii) after the occurrence of an Insolvency Proceeding by or against Borrowers or an Obligor, the occurrence of any of the following: (A) the entry of an order of the Bankruptcy Court pursuant to Section 363 of the Bankruptcy Code authorizing the sale of all or substantially all of any Borrower's or Obligor's assets or (B) the taking of any Lien Enforcement Action described in clauses (i) and (ii) of the definition of such term by Foothill or the entry of an order of the Bankruptcy Court pursuant to Section 362 of the Bankruptcy Code vacating the automatic stay and authorizing Foothill to take any Lien Enforcement Action.

Priority Event is defined in Section 11.7(a).

Priority Event means one or more of the following events: (a) an Event of Default under Section 10.1(a)(i) hereof; (b) an Event of Default under Section 10.1(g) or 10.1(h) hereof; or (c) any other Event of Default and either (i) the acceleration of the payment of all or a material portion of the Obligations or (ii) the taking of any Enforcement Action.

Priority Event means the occurrence of any one or more of the following: (a) the occurrence and continuance of an Event of Default under Sections 8.1(a)(i) or (ii) hereof, (b) the occurrence and continuance of an Event of Default under Sections 8.1(h) or 8.1(i) hereof; (c) the occurrence of any other Event of Default and the acceleration by Agent of the payment of all or a material portion of the Tranche A Obligations or (d) the occurrence of the Commitment Termination Date.

Priority Event means the occurrence of any one or more of the following: (a) the occurrence and continuance of an Event of Default under Section 10.1(a)(i) hereof with respect to any Borrower's failure to pay any of the Obligations arising pursuant to the Revolving Loans, Term Loans or Equipment Purchase Term Loans (including principal, interest, fees and expenses attributable thereto); (b) the occurrence and continuance of an Event of Default under Sections 10.1(g) or 10.1(h) hereof; (c) the occurrence of any other Event of Default and the acceleration by Agent of the payment of all or a material portion of the Obligations; or (d) Agent shall have received the written notice from Term B Loan Lender of a Term B Loan Action Default as provided in Section 10.2(j) hereof."