Revolving Priority Collateral definition

Revolving Priority Collateral shall have the meaning assigned to such term in the Intercreditor Agreement.

Revolving Priority Collateral means all of the following personal property, now owned or hereafter acquired (including, without limitation, any of the following property acquired or created after the commencement of any Insolvency Proceeding) and wherever located, consisting of the following:

Revolving Priority Collateral means all now owned or hereafter acquired Revolving Collateral that constitutes:

Examples of Revolving Priority Collateral in a sentence

• Under paragraph 26 of the Final DIP Order, the Strikes may constitute a "Cash Collateral Liquidation Event," triggering a requirement that "all collections received by the Debtors from the Revolving Priority Collateral shall be immediately applied to the ABLPre-Petition Indebtedness to effectuate a reduction … of such ABL Pre-Petition Indebtedness." (Final DIP Order ¶ 26).

• Copy of ARO/Back to back inland letter of Credit of Advance Authorisation for intermediate Supplies or Supply invoices or CT3/ARE3 duly certified by the Bond Office of EOU concerned showing that supplies have been received.

• As shown in the Liquidation Budget, the liquidation of the Revolving Priority Collateral is anticipated to generate cash of approximately $77 million in the first 10 weeks of the Winddown — more than 70% greater than the amount of outstanding ABLPre-Petition Indebtedness.

• Notwithstanding anything herein to the contrary, this Supplement, the Liens and security interests granted to the Collateral Agent, for the benefit of the Secured Parties, pursuant to this Supplement and the exercise of any right or remedy by the Collateral Agent and the other Secured Parties hereunder, in each case, with respect to the Revolving Priority Collateral and Revolving Liens are subject to the provisions of the Intercreditor Agreement.

• An immediate dollar-for-dollar application to the ABL Pre-Petition Indebtedness as the Revolving Priority Collateral is liquidated would leave the Debtors with insufficient funds to effectuate the Winddown Plan (including paying the employees that are collecting and liquidating the Revolving Priority Collateral).

More Definitions of Revolving Priority Collateral

Revolving Priority Collateral as defined in the Intercreditor Agreement. DBRS: DBRS Limited or DBRS, Inc. or any successor thereof. Debt: as applied to any Person, without duplication, (a) all obligations of such Person for borrowed money; (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments to the extent the same would appear as a liability on a balance sheet prepared in accordance with GAAP; (c) all obligations of such Person under conditional sale or other title retention agreements relating to property purchased by such Person; (d) all obligations of such Person incurred or assumed as the deferred purchase price of property or services (but excluding (i) trade accounts payable and accrued obligations incurred in the Ordinary Course of Business and (ii) any deferred compensation arrangements entered into in the Ordinary Course of Business and any earn-out obligation until such obligation appears in the liabilities section of the balance sheet of such Person) to the extent the same would be required to be shown as a long-term liability on a balance sheet prepared in accordance with GAAP; (e) all Debt (excluding prepaid interest thereon) of others secured by any Lien on property owned or acquired by such Person, whether or not the obligations secured thereby have been assumed, but the amount of such Debt shall be deemed to be equal to the lesser of (i) the aggregate unpaid amount of such Debt and (ii) the fair market value (as determined by such Person in good faith) of the encumbered property; (f) all Purchase Money Debt and Capital Leases Obligations; (g) net obligations of such Person in respect of Hedging Agreements to the extent required to be reflected on a balance sheet of such Person; (h) all Attributable Debt of such Person; (i) all obligations of such Person for the reimbursement of any obligor in respect of letters of credit, letters of guaranty, bankers’ acceptances and similar credit transactions created for the account of such Person; (j) obligations in respect of Disqualified Equity Interests; and (k) all Contingent Obligations of such Person in respect of Debt of the kinds referred to in clauses (a) through (j) above. The Debt of any Person shall include the Debt of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent that the terms of suc...

Revolving Priority Collateral means, collectively, all of the personal property in which First Priority Liens are granted (or purported to be granted) pursuant to the Collateral Documents as security for the Revolving Obligations and shall include, without limitation, all Accounts and Inventory (and all proceeds therefrom) of the Borrower and Guarantor Subsidiaries and shall include all “Revolving Priority Collateral” as defined in the Intercreditor Agreement.

Revolving Priority Collateral means “Revolving Priority Collateral” as defined in the Revolving/Term Loan Intercreditor Agreement.

Revolving Priority Collateral shall not include any assets referred to in clauses (a), (b) and (c) of the definition of the term “Term Priority Collateral”.

Revolving Priority Collateral. (a) Revolving Priority Borrowing Base Collateral; (b) Revolving Loan Intangibles; (c) Revolving Loan Records; (d) all insurance policies, claims under and proceeds of insurance covering any Collateral described in any of clauses (a) through (c) of this definition, including, without limitation, the proceeds of Eligible Foreign Accounts Credit Insurance; and (e) all Proceeds and products of any of the foregoing.

Revolving Priority Collateral means, collectively, the ‘‘Revolving Priority Collateral,’’ as defined in the Pledge and Security Agreement and any other Collateral (as defined in the Credit Agreement) of the same type. ‘‘Secured Claims’’ shall mean, collectively, the Revolving Claims and the Term Loan Claims. ‘‘Secured Parties’’ shall mean, collectively, the Senior Secured Parties and the Junior Secured Parties.

Revolving Priority Collateral means all now owned or hereafter acquired Collateral and Real Estate Collateral, other than Term Loan Priority Collateral. “Sanctioned Entity” means (a) a country or a government of a country, (b) an agency of the government of a country, (c) an organization directly or indirectly controlled by a country or its government, or (d) a Person resident in or determined to be resident in a country, in each case 43