Term Loan Collateral means all assets, whether now owned or hereafter acquired by any Grantor, in which a Lien is granted or purported to be granted at any time by such Grantor to any Term Loan Secured Party as security for any Term Loan Obligation.
Examples of Term Loan Collateral in a sentence
Permit the Carve-Out, if and to the extent invoked pursuant to the Orders, to be allocated in a manner other than one-third against the ABL Collateral and two-thirds against the Term Loan Collateral.
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.
The Term Loan Collateral and the Allocated Term Loan Amount for each item of Term Loan Collateral shall be evidenced by Confirmations executed by the applicable Borrower and the Administrative Agent.
Except as otherwise provided in this Agreement, the Term Loan Collateral Agent and the Term Loan Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under the Term Loan Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate.
The ABL Collateral and the Term Loan Collateral shall include the proceeds of Avoidance Actions on an equal and ratable basis.