Priority Security Agreement definition

Priority Security Agreement means that certain Security Agreement (First Priority/Membership Interest), dated as of May 7, 2001, made by Maker in favor of JMB, encumbering certain collateral set forth therein, which secures, among other indebtedness, Restated Promissory Note II.
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Priority Security Agreement means that certain Priority Security Agreement dated as of the date hereof, and each additional Priority Security Agreement entered into after the date hereof by any Subsidiary in accordance with the terms of any Senior Credit Document, granting a Priority Lien to the Priority Collateral Agent for the benefit of the Priority Secured Parties pursuant to the Priority Collateral Agency Agreement as collateral security for the Priority Senior Obligations, and if applicable, the Guarantors' Obligations with respect thereto, as amended, supplemented or restated from time to time.
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Examples of Priority Security Agreement in a sentence

  • Capitalized terms used in this Agreement and not otherwise defined herein shall, except to the extent the context otherwise requires, have the meanings set forth in the Second Priority Debt Agreement (as in effect on the date hereof) or the Second Priority Security Agreement (as in effect on the date hereof), as applicable.

  • Capitalized terms used in this Agreement and not otherwise defined herein shall, except to the extent the context otherwise requires, have the meanings set forth in the First Priority Debt Agreement (as in effect on the date hereof) or the First Priority Security Agreement (as in effect on the date hereof), as applicable.

  • Each Collateral Agent represents and warrants to the other parties hereto that it has been authorized by the Secured Parties under and as defined in the First Priority Debt Agreement or the Second Priority Security Agreement, as applicable, to enter into this Agreement.

  • Copies of the Third Amended and Restated security Agreement and the Priority Security Agreement are available for inspection at the offices of JMB during normal business hours.

  • The provisions of the Third Restated Security Agreement and the Priority Security Agreement shall be deemed to be incorporated by reference herein as though set out herein in their entirety.

  • Reference is made to the Third Restated Security Agreement and the Priority Security Agreement, as applicable, for a description of the property encumbered, the nature and extent of the security, and the rights of the holder hereof in respect to such security.

  • This Note is secured by the Third Restated Security Agreement and the Priority Security Agreement.

  • To the extent that Collateral is released from the lien of the First Priority Security Agreement (other than in connection with the termination of the First Priority Security Agreement) in accordance with the terms of such agreement and the other Facility Documents, such release shall automatically release such Collateral from the security interest created by this Agreement in favor of the Hedge Counterparty.

  • Reference is made to the Intercreditor Agreement (as defined in the Priority Security Agreement) and the Credit Agreement (as defined in the Intercreditor Agreement).

  • Following the occurrence of the Senior Obligation Payment Date but prior to the occurrence of a Triggering Event, such Net Cash Proceeds or Casualty Proceeds, as the case may be, shall be applied as set forth in Section 7(b) and (c) of the Second Priority Security Agreement.