Subordinated Secured Parties definition

Subordinated Secured Parties means (a) from the date hereof until payment in full in cash of the First Lien Secured Obligations, collectively, the Second Lien Secured Parties, the Third Lien Secured Parties and the Fourth Lien Secured Party, (b) after such payment in full in cash of the First Lien Secured Obligations and until payment in full in cash of the Second Lien Secured Obligations then outstanding, collectively, the Third Lien Secured Parties and the Fourth Lien Secured Party and (c) after such payment in full in cash of the First Lien Secured Obligations and the Second Lien Secured Obligations and until payment in full in cash of the Third Lien Secured Obligations then outstanding, the Fourth Lien Secured Party.

Subordinated Secured Parties the Trustee and the Holders. ----------------------------

Subordinated Secured Parties collectively, the Senior Subordinated ---------------------------- Secured Parties and the Junior Subordinated Secured Parties.

Examples of Subordinated Secured Parties in a sentence

• None of the Senior Subordinated Secured Parties shall have a duty to advise the Working Capital Facility Collateral Agent or any Working Capital Facility Lender or any other Secured Party of information known to it or them regarding such condition or any such circumstances or otherwise.

• Neither the Working Capital Facility Collateral Agent nor any Working Capital Facility Lender shall have any duty to any of the Senior Subordinated Secured Parties to act or refrain from acting in a manner which allows, or results in, the occurrence or continuance of an event of default or default under any agreements with any Obligor (including, without limitation, the Notes Documents and the Pari Passu Indebtedness Documents), regardless of any knowledge thereof which they may have or be charged with.

• Following the Discharge of Working Capital Facility Obligations, in connection with any decision by the Senior Subordinated Secured Parties under this Agreement, the votes of each Series of Senior Subordinated Secured Debt entitled to vote thereon shall be cast in the manner provided by, and in accordance with the decision of the holders of such Series of Senior Subordinated Secured Debt made pursuant to the terms of the corresponding Secured Debt Documents.

• For valuable consideration, Grantor assigns and pledges to the Subordinated Secured Parties, and grants to the Subordinated Secured Parties a subordinated security interest in, all currently existing and hereafter acquired Collateral, as security for the timely payment of all of the Secured Obligations.

• The Subordinated Security Trustees and the other Subordinated Secured Parties will not sell, assign, pledge, encumber or otherwise dispose of any of their rights in the Collateral as such or in proceeds of Collateral as such, without the prior written consent of the Senior Security Trustee.

More Definitions of Subordinated Secured Parties

Subordinated Secured Parties when used in this paragraph, shall be deemed to mean the Junior Subordinated Secured Parties.

Subordinated Secured Parties means the Subordinated Trustee and those holders from time to time of the Subordinated Notes.

Subordinated Secured Parties is hereby amended by adding the term “Berkshire,” after “AMBAC,” in the first line therein.

Subordinated Secured Parties means the Indenture Subordinated Secured Parties and the Additional Subordinated Secured Parties.

Subordinated Secured Parties has the meaning given that term in the Subordinated Security Agreement.

Subordinated Secured Parties means AMBAC, the Owner Participant and the Facility Owner, as secured parties under the Subordinated Mortgage and the Subordinated Security Agreement.

Subordinated Secured Parties means AMBAC, the Owner Participant and the Trustees, as secured parties under the Subordinated Deed to Secure Debt and Security Agreement.