Definition of Term and Notes Collateral

Term and Notes Collateral means the portion of the Collateral as to which the Notes have a priority security interest relative to Revolver Debt.
Sample 1

Examples of Term and Notes Collateral in a sentence

Issuer may defer the Collateral Asset Sale Offer until there are aggregate unutilized Collateral Excess Proceeds equal to or in excess of $100.0 million resulting from one or more Asset Sales of Term and Notes Collateral, at which time the entire unutilized amount of Collateral Excess Proceeds (not only the amount in excess of $100.0 million) will be applied as provided in clause (c) above.