Priority of Payments definition

Priority of Payments. The meaning specified in Section 11.1(a).

Priority of Payments means each of the Pre-Issuer Event of Default Interest Priority of Payments, the Pre-Issuer Event of Default Principal Priority of Payments, the Guarantee Priority of Payments and the Post-Enforcement Priority of Payments.

Priority of Payments has the meaning set forth in Section 4.05.

Examples of Priority of Payments in a sentence

• The Paying Agent shall transfer funds to the Defeasance Account pursuant to the Priority of Payments.

• The Issuer shall pay in accordance with the applicable Priority of Payments to the Principal Paying Agent for the account of the Agents such fees and commissions (including any amounts in respect of any applicable VAT) as have been agreed in writing from time to time between the Issuer and the Principal Paying Agent in respect of the services of the Agents hereunder.

• If any amount shall be paid to any Grantor on account of such subrogation, contribution or reimbursement rights at any time when all of the Secured Obligations shall not have been paid in full, such amount shall constitute Asset Proceeds and shall be held by such Grantor in trust for the Secured Parties, segregated from other funds of such Grantor, and, immediately upon receipt by such Grantor, shall be deposited into the Collection Account, to be applied in accordance with the Priority of Payments.

• The Issuer shall pay in accordance with the applicable Priority of Payments on demand all out-of- pocket expenses (including legal, advertising and postage expenses), costs, charges or Liabilities properly incurred by the Agents as have been agreed in writing from time to time between the Issuer in connection with their services together with any applicable value added tax thereon.

• Party A acknowledges and agrees that all obligations of Party B in respect of amounts owing to the Party A pursuant to this Agreement are subject to the terms of Clauses 6.2 (Pre-enforcement Priority of Payments) and 22.2 (Limited Recourse) of the Deed of Charge.

More Definitions of Priority of Payments

Priority of Payments. The meaning given to such term in Section 3.04.

Priority of Payments means the priorities set forth in Section 6.4 hereof.

Priority of Payments has the meaning set forth in Section 9.1(a); provided that, at all times after the Majority Lenders have exercised their right to direct the liquidation of the Collateral under Article VI, “Priority of Payments” shall mean the priorities set forth in Section 6.4 hereof.

Priority of Payments means the allocation and payment obligations described in Section 5.11 of the Base Indenture as supplemented by the allocation and payment obligations with respect to each Series of Notes described in each Series Supplement.

Priority of Payments. As defined in Section 4.04 hereof.

Priority of Payments means the application of Available Funds in accordance with Section 3.1.

Priority of Payments means, collectively, the payments made on each Payment Date in accordance with Section 7.05(a), Section 7.05(b) and Section 7.05(c), as applicable.