Senior Priority Collateral definition

Senior Priority Collateral means any “Collateral” as defined in any First Lien Credit Agreement Credit Document or any other Senior Priority Debt Document or any other assets of Holdings, the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Priority Collateral Document as security for any Senior Priority Obligations.

Senior Priority Collateral means (a) with respect to the Revolving Collateral Agent and any other Revolving Claimholders, all Revolving Priority Collateral and (b) with respect to the Term Collateral Agent and any other Term Claimholders, all Term Priority Collateral.

Senior Priority Collateral means any and all Collateral that secures or purports to secure any Senior Priority Obligations.

Examples of Senior Priority Collateral in a sentence

• Each Secured Party acknowledges and agrees that (i) the grants of Liens pursuant to the Senior Priority Collateral Documents and the Junior Priority Collateral Documents constitute separate and distinct grants of Liens and (ii) because of, among other things, their differing rights in the Collateral, the Senior Priority Obligations are fundamentally different from the Junior Priority Obligations and must be separately classified in any plan of reorganization proposed or adopted in an Insolvency Proceeding.

• Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

• In exercising rights and remedies with respect to the Senior Priority Collateral, the Senior Priority Representatives and the Senior Priority Secured Parties may enforce the provisions of the Senior Priority Debt Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion.

• Each Secured Party acknowledges and agrees that (i) the grants of Liens pursuant to the Senior Priority Collateral Documents and the Junior Priority Collateral Documents constitute separate and distinct grants of Liens and (ii) the Senior Priority Obligations are fundamentally different from the Junior Priority Obligations and must be separately classified in any Plan of Reorganization proposed or adopted in an Insolvency Proceeding because of, among other things, their differing rights in the Collateral.

• The Senior Priority Representative may Exercise Any Secured Creditor Remedies under the Senior Priority Collateral Documents or applicable law as to any Collateral subject to the provisions of this Agreement, including Section 4.01 hereof.

More Definitions of Senior Priority Collateral

Senior Priority Collateral means (a) with respect to the ABL Agent and any other ABL Secured Party, ABL Priority Collateral and (b) with respect to the Term Agent and any other Term Secured Party, Term Priority Collateral.

Senior Priority Collateral means, (a) with respect to the ABL Priority Obligations, all ABL Priority Collateral and (b) with respect to the Note Priority Obligations, all Note Priority Collateral.

Senior Priority Collateral means any “Collateral” (or equivalent term) as defined in any Senior Secured Credit Agreement Credit Document or any other Senior Priority Debt Document or any other assets of Holdings, a Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Priority Collateral Document as security for any Senior Priority Obligations.

Senior Priority Collateral means (a) with respect to FastPay, the FastPay Priority Collateral and (b) with respect to Non-ABL Creditor, the Non-ABL Creditor Priority Collateral.

Senior Priority Collateral means, (a) with respect to the Working Capital Lender, the Working Capital Lender Priority Collateral, (b) with respect to the Term Loan Lenders, the Term Loan Lender Priority Collateral and, after the payment in full of the Pioneer Lender Debt, the Pioneer Lender Priority Collateral, and (c) with respect to the Pioneer Lender, the Pioneer Lender Priority Collateral and, after the payment in full of the Term Loan Debt, the Term Loan Lender Priority Collateral.

Senior Priority Collateral means all each Grantor’s rights, title and interest in, to or under any assets, whether real, personal or mixed, with respect to which a Lien is now or hereafter granted (or purported or required to be granted) as security for any Senior Priority Obligation.

Senior Priority Collateral means the Shared Collateral up to a maximum amount equal to 10% of Consolidated Net Tangible Assets (as such term is defined in the 1996 Indenture), such amount being equal to approximately $139.7 million as of June 30, 2002 as such amount may increase from time to time (and not thereafter decrease) as of any date on which any Senior Secured Obligations are incurred.