Examples of Revolver Priority Collateral in a sentence
Obligations under the ABL Facility are secured by a first lien on the Revolver Priority Collateral (which generally includes, among other things, accounts receivables and inventory) and by a second lien on the Fixed Asset Collateral (which includes by way of example, Property, Plant, and Equipment).
The obligations under the DIP Term Loan Facility will be secured by (a) a first priority priming lien upon and security interest in the Term Loan Priority Collateral and (b) a second priority priming lien on all Revolver Priority Collateral.
If any Borrower or Subsidiary receives cash or Payment Items with respect to any Revolver Priority Collateral, it shall hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into a Dominion Account.
If any Loan Party receives cash or any check, draft or other item of payment payable to a Loan Party with respect to any Revolver Priority Collateral, it shall hold the same in trust for the Administrative Agent and promptly deposit the same into any such Deposit Account or Dominion Account.
The DIP ABL Facility and DIP Term Loan Facility will share pari passu liens on any asset of the Debtors that, as of the Petition Date, did not comprise either Revolver Priority Collateral or Term Loan Priority Collateral.