Priority Lien Obligations definition

Priority Lien Obligations means the Priority Lien Debt and all other Obligations in respect of Priority Lien Debt.

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Priority Lien Obligations shall have the meaning provided in the Collateral Trust Agreement.

Priority Lien Obligations has the meaning assigned to such term in the Intercreditor Agreement.

Examples of Priority Lien Obligations in a sentence

• The City covenants and agrees that it shall not at any time withdraw any long-term unenhanced rating on the City’s [Parity Electric Utility Obligations, Parity Water/Wastewater Obligations] or Priority Lien Obligations from any of Fitch, ▇▇▇▇▇’▇ or S&P if the effect of such withdrawal would be to cure a Default or an Event of Default under this Agreement or reduce the Facility Fee.

• The City has not taken any action, or omitted to take any action, which constitutes a default, or which with the passage of time or the giving of notice, or both, would constitute a default, under any ordinance, indenture, agreement or other instrument pursuant to which any outstanding Priority Lien Obligations have been issued.

• There are no obligations of the City payable from or secured by Net Revenues on a basis senior to the Notes and the obligations of the City under this Agreement other than the Priority Lien Obligations.

• The City will not issue any Notes to refund Priority Lien Obligations without the prior written consent of the Bank.

• The City will promptly, and in any event within five (5) Business Days, notify the Bank of the occurrence of any “Event of Default” under the Ordinance or of a default under the Parity Note Ordinance, this Agreement, any Related Document or any ordinance, indenture, Agreement or other instrument pursuant to which the Priority Lien Obligations are issued, specifying the details thereof and the action that the City proposes to take with respect thereto.

More Definitions of Priority Lien Obligations

Priority Lien Obligations means the Priority Lien Debt and all other Obligations in respect of or in connection with Priority Lien Debt together with Hedging Obligations and Cash Management Obligations. For the avoidance of doubt, Hedging Obligations and Cash Management Obligations shall only constitute Priority Lien Obligations to the extent that such Hedging Obligations or Cash Management Obligations, as applicable, are secured under the terms of the Priority Lien Credit Agreement and Priority Lien Security Documents. Notwithstanding any other provision hereof, the term “Priority Lien Obligations” includes accrued interest, fees, costs and other charges incurred under the Priority Lien Credit Agreement and the other Priority Lien Documents, whether incurred before or after commencement of an Insolvency or Liquidation Proceeding and whether or not allowable in an Insolvency or Liquidation Proceeding. To the extent that any payment with respect to the Priority Lien Obligations (whether by or on behalf of the Company or any Subsidiary Guarantor, as proceeds of security, enforcement of any right of set-off, or otherwise) is declared to be fraudulent or preferential in any respect, set aside, or required to be paid to a debtor in possession, trustee, receiver, or similar Person, then the Obligation or part thereof originally intended to be satisfied will be deemed to be reinstated and outstanding as if such payment had not occurred.

Priority Lien Obligations means the Priority Lien Debt and all other Obligations in respect thereof.

Priority Lien Obligations means the Indebtedness evidenced by the Credit Agreement and all other Obligations of the Company or any Restricted Subsidiary thereunder or under the Priority Lien Documents in respect of the Credit Agreement.

Priority Lien Obligations means the Priority Lien Debt and all other Obligations of the Company, the Parent Company or any Subsidiary Guarantor under the Priority Lien Documents.

Priority Lien Obligations means any and all of the covenants, warranties, representations and other obligations (other than to repay the Indebtedness) made or undertaken by Mortgagor or others under any of the Priority Lien Documents.

Priority Lien Obligations means the Priority Lien Debt and all other Obligations in respect of Priority Lien Debt, together with the sum of (a) Hedging Obligations evidenced by a Hedge Agreement that includes a Lien Sharing and Priority Confirmation and meets all of the other requirements of the Collateral Trust Agreement to be Priority Lien Obligations and that have been designated as “Priority Lien Obligations” in an Officers’ Certificate delivered to the Collateral Trustee on the date on which the Hedge Agreement relating to such Hedging Obligation was entered into (1) having an aggregate “settlement amount” (or similar term) (as defined in the applicable Hedge Agreement relating to Priority Lien Obligations consisting of a Hedging Obligation) or (2), with respect to any such Hedge Agreement that has been terminated in accordance with its terms, the amount then due and payable (exclusive of expenses and similar payments but including any termination payments then due) under such Hedge Agreement, under all Hedge Agreements relating to Priority Lien Obligations consisting of Hedging Obligations, minus the aggregate amount of all Net Proceeds of any Sale of Collateral applied by the Company since the date of this Indenture to repay any Hedging Obligations pursuant to the terms of the Priority Lien Documents under which such Hedging Obligations are secured or intended to be secured; provided that the “settlement amount” (or similar term) as of the last Business Day of the month preceding any date of determination shall be calculated by the appropriate swap counterparties and reported to the Collateral Trustee upon request plus (b) Banking Product Obligations of the Company that are evidenced by an agreement that includes a Lien Sharing and Priority Confirmation and meets all of the other requirements of the Collateral Trust Agreement to be Priority Lien Obligations and that have been designated as “Priority Lien Obligations” in an Officers’ Certificate delivered to the Collateral Trustee on the date on which the agreement relating to such Banking Product Obligation was entered into, in an aggregate amount not to exceed, together with the amounts referred to in clause (a) above, $15.0 million.

Priority Lien Obligations under (and as defined in) the Second Lien Intercreditor Agreement and the Original Second-Out Agent has executed a “Priority Confirmation Joinder” under (and as defined in) the Second Lien Intercreditor Agreement;