Priority Notes definition

Priority Notes means so long as any of the notes of the relevant Class remains outstanding the Class I Notes, the Class II Notes, the Class III Notes, the Class IV Notes and the Class V Notes;

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Priority Notes means the Company's Priority Secured Notes due December 31, 1998 outstanding pursuant to the Priority Notes Agreement and all other instruments evidencing the indebtedness that is evidenced by such Priority Secured Notes, as such Priority Secured Notes and instruments from time to time may be amended.

Priority Notes means (i) those Notes identified on Annex I to that certain Amendment and Limited Waiver to the Note Agreements, dated as of M▇▇▇▇ ▇▇, ▇▇▇▇, (▇▇) the additional Notes issued to the holders identified on such Annex I as “Fee Notes” in accordance with Section 9(a) of such Amendment and Limited Waiver to the Note Agreements, and (iii) upon the surrender of any Notes referred to in subclauses (i) and (ii) above in accordance with Section 9(b) of such Amendment and Limited Waiver to the Note Agreements, any replacement Notes issued in exchange therefor, it being understood in each of the above subclauses (i) through (iii) that upon any permitted transfer, replacement or exchange of Priority Notes, such Notes or the replacement Notes, as the case may be, shall remain Priority Notes.”

Examples of Priority Notes in a sentence

• For all purposes hereof and the Intercreditor Agreements, the Issuer hereby designates the Obligations pursuant to the Credit Agreements as in effect on the Issue Date as First Priority Lien Obligations and designates the Note Obligations as First Priority Lien Obligations (as defined in each Existing Second Priority Notes Indenture).

• All costs, charges and expenses incurred and all payments made by the Collateral Agent or any Receiver appointed hereunder in the exercise in good faith of any right hereby conferred whether or not occasioned by any act, neglect or default of the Collateral Agent or such Receiver shall bear interest from the date of the same being incurred or becoming due at the rate at which interest accrues on the Second Priority Notes.

• Upon execution of its acknowledgement hereto, each of the Second Priority Notes Trustee and Third Party Notes Trustee hereby acknowledges and agrees that it is no longer a party to this Agreement, is no longer entitled to any of the benefits of this Agreement, and is hereby discharged from its duties and obligations hereunder.

• If payment of the Notes is accelerated because of an Event of Default, the Issuers shall promptly notify the holders of Designated First Lien Indebtedness of the Issuers or the Representative of the First Priority Notes of the acceleration; provided that any failure to give such notice shall have no effect whatsoever on the provisions of this Article Fourteen.

• The Third Priority Notes Trustee shall certify as to such amounts and the Sharing Agent shall be entitled to rely conclusively upon such certification.

• Subject to paragraph (A) above, the obligations to be guaranteed and secured are the First Priority Notes Obligations.

• The Company shall not be required to comply with this covenant after an Equity Raise Trigger Repurchase Date (as defined in the Indenture), provided that the Company has paid in full the Equity Rase Trigger Repurchase Price in respect of all Payment Priority Notes (as defined in the Indenture).

• In determining what liens will be granted (and any limitations on the amount or scope of Guarantees) by Issuers or Guarantors organized outside of the United States (the “Non-U.S. Notes Parties”) to secure the First Priority Notes Obligations (the holders thereof, the “Secured Parties”) the following matters will be taken into account.

• For all purposes hereof and the Intercreditor Agreement, the Issuer hereby designates the Obligations pursuant to the Credit Agreements as in effect on the Issue Date as First Priority Lien Obligations and designates the Obligations pursuant to the Existing Second Priority Notes Indenture as Other Second-Lien Obligations.

• The Second Priority Notes Trustee shall certify as to such amounts and the Sharing Agent shall be entitled to rely conclusively upon such certification.

More Definitions of Priority Notes

Priority Notes has the meaning set forth in Section 1.1 of the Priority Credit Agreement. "Priority Obligations" has the meaning set forth in Section 1.1 of the Priority Credit Agreement. "Priority Scheduled Debt Service" has the meaning set forth in Section 1.1 of the Priority Credit Agreement. "Proposed DIP Facility Agreement" has the meaning set forth in Section 1.01 of the Second Omnibus Restructuring Agreement. "Required Priority Lenders" has the meaning set forth in Section 1.1 of the Priority Credit Agreement. "Residual Loans" has the meaning set forth in Section 1.01 of the Second Omnibus Restructuring Agreement. "Revenue Account Waterfall" means the cash waterfall set forth in Section 5.1 of the Security Deposit Agreement. "Roll-Up Loans" has the meaning set forth in Section 1.01 of the Second Omnibus Restructuring Agreement. "Second Omnibus Restructuring Agreement" means the Second Omnibus Restructuring Agreement dated as of December 4, 2002, among the Company, the Owner, the Trustee, the Trust Company, each Tranche A Lender, each Tranche B Lender, each Interest Hedge Party, the DSR/RCE L/C Issuer, the Working Capital L/C Issuer, the Administrative Agent, the Security Agent, the Priority Lenders, Citibank, N.A., as Priority Agent and NEG. "Settlement Amounts" has the meaning set forth in Section 1.01 of the Second Omnibus Restructuring Agreement. "Tranche A Settlement Amounts" has the meaning set forth in Section 1.01 of the Second Omnibus Restructuring Agreement. "Tranche B Settlement Amounts" has the meaning set forth in Section 1.01 of the Second Omnibus Restructuring Agreement. "Waterfall Commencement Date" has the meaning set forth in Section 1.1 of the Priority Credit Agreement.

Priority Notes means each of the notes (as such may have been amended, restated or otherwise modified) made by the Company as of July, 21, 2004 in favor of (i) ▇▇▇▇▇▇▇▇▇, in the amount of $62,500 and (ii) BMO, in the amount of $37,500.