Subordinated Lienholder definition

Subordinated Lienholder means Hilco Capital LP, a Delaware limited partnership, and its successors and assigns, and any subsequent holder or holders of any of the Subordinated Lienholder Obligations.
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Subordinated Lienholder shall have the meaning set forth in the introductory paragraph of this Agreement.
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Examples of Subordinated Lienholder in a sentence

  • Subordinated Lienholder agrees that it shall not assign or transfer any of the Liens without (i) prior notice being given to Agent and (ii) such assignment or transfer being made expressly subject to the terms of this Agreement.

  • Proceeds of the Collateral include insurance proceeds, and therefore, notwithstanding the terms set forth in the Lending Agreements or Subordinated Lienholder Agreements, the priorities set forth in Section 2.2 govern the ultimate disposition of casualty insurance proceeds.

  • All proceeds of such insurance shall inure to Agent, to the extent of Lenders’ and Agent’s claim, and Subordinated Lienholder shall cooperate (if necessary) in a reasonable manner in effecting the payment of insurance proceeds to Lenders and Agent.

  • In the event Subordinated Lienholder shall receive any payment or distribution of any kind representing proceeds of any Collateral as to which its Lien in the Collateral is or is required to be subordinated to the Lien of Agent, prior to the Discharge of Senior Indebtedness, such sums shall be held in trust by Subordinated Lienholder for the benefit and on account of Agent and such amounts shall be paid to Agent for application to the then unpaid Senior Indebtedness under the Lending Agreements.

  • Nothing contained in this Agreement shall constitute a subordination of the Subordinated Lienholder Obligations to the prior payment in full of the Senior Lienholders Obligations.

  • Subordinated Lienholder, solely for the purposes of this Agreement, hereby acknowledges receipt of a correct and complete copy of each of the Lending Agreements as in effect on the date hereof.

  • No action which Lenders, Agent or any Credit Party may take or refrain from taking with respect to the Senior Indebtedness, including any amendments thereto, shall affect the provisions of this Agreement or the obligations of Subordinated Lienholder.

  • The subordination of Liens (in excess of the Maximum Priority Debt Amount) in favor of Subordinated Lienholder herein shall not be deemed to subordinate Agent’s Liens to the Liens of any other Person.

  • In the event the Agent, in its sole discretion or pursuant to agreement with the Credit Parties, permits the Credit Parties to utilize all or any Insurance or Condemnation Proceeds to replace Collateral other than Term Loan B Collateral, the consent of the Agent thereto shall be deemed to include the consent of the Subordinated Lienholder.

  • The subordination of Liens (up to the Maximum Priority Debt Amount) by Subordinated Lienholder in favor of Agent herein shall not be deemed to subordinate Subordinated Lienholder’s Liens to the Liens of any other Person.