Priority Rights definition
Examples of Priority Rights in a sentence
The Seller shall be liable for all Taxes relating to or arising out of (i) the ICO Claims imposed with respect to any taxable period (or portion thereof) ending on or before the Implementation Date, (ii) the Priority Rights imposed with respect to any taxable period (or portion thereof) ending on or before the Closing Date, and (iii) the International Assets imposed with respect to any taxable period (or portion thereof) ending on or before the Assets Call Closing Date.
The Common Security Agent shall at the request and cost of the Company take all actions reasonably necessary to enable the registration of the Permitted First Priority Rights with first priority and shall be authorised by each Secured Creditor and Hedge Counterparty to do so without any further consent by them.
The Receiver shall be the agent of Producer and shall have all of the powers of a receiver under applicable law, subject to the Priority Rights.
Subject to the Interparty Agreement, the Lien shall be prior in rank to all other liens on the Collateral or any part or parts thereof but shall be subject to and subordinate in rank to the Priority Rights.
The Intercreditor Agreement, the Stock Agreement, the Security Agreement, Pledge and Assignment: Equipment, Inventory, Securities and Intellectual Property, the Deed of Trust Parity Agreement and the Bank MasterLink Priority Rights Addendum, each of even date herewith, to which First Bank National Association is also a party.