Term Claimholders means, at any relevant time, the holders of Second Lien Obligations at such time, including without limitation the Term Lenders and the agents under the Second Lien Term Loan Agreement.
Examples of Term Claimholders in a sentence
The foregoing provisions are intended as an inducement to the Term Claimholders (as defined in the Term Loan Intercreditor Agreement) to enter into the arrangements contemplated by the Term Loan Collateral Documents (as defined in the Term Loan Intercreditor Agreement) and the Term Claimholders are intended third party beneficiaries of such provisions and the provisions of the Term Loan Intercreditor Agreement.
This Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of each of the Senior Revolving Claimholders and the Term Claimholders.
The Term Administrative Agent on behalf of the Term Claimholders, agrees that it will raise no objection or oppose a sale or other disposition of any Collateral free and clear of its Liens or other claims under Section 363 of the Bankruptcy Code if the Senior Revolving Claimholders have consented to such sale or disposition of such assets.
The Term Administrative Agent, on behalf of itself and the Term Claimholders, hereby waives any rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of Senior Indebtedness has occurred.
The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the Senior Revolving Claimholders on the one hand and the Term Claimholders on the other hand.