Term Loan Priority Accounts definition

Term Loan Priority Accounts means any Deposit Accounts or Securities Accounts that are intended to solely contain Proceeds of the Term Priority Collateral (it being understood that any property in such Deposit Accounts or Securities Accounts which is not Proceeds of Term Priority Collateral shall not be Term Priority Collateral solely by virtue of being on deposit in any such Deposit Account or Securities Account).
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Term Loan Priority Accounts means the Asset Sale Proceeds Pledged Account and any Deposit Accounts, Securities Accounts or Commodity Accounts, in each case that are intended to solely contain Term Priority Collateral or identifiable proceeds of the Term Priority Collateral (it being understood that any property in such Deposit Accounts, Securities Accounts or Commodities Accounts which is not Term Priority Collateral or identifiable proceeds of Term Priority Collateral shall not be Term Priority Collateral solely by virtue of being on deposit in any such Deposit Account, Securities Account or Commodity Account).
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Term Loan Priority Accounts means the Asset Sale Proceeds Pledged Account and any bank accounts, Deposit Accounts, Securities Accounts, Futures Accounts or Commodity Accounts, in each case that are intended to solely contain Term Priority Collateral or identifiable proceeds of the Term Priority Collateral (it being understood that any property in such bank accounts, Deposit Accounts, Securities Accounts, Futures Accounts or Commodities Accounts which is not Term Priority Collateral or identifiable proceeds of Term Priority Collateral shall not be Term Priority Collateral solely by virtue of being on deposit in any such bank accounts, Deposit Account, Securities Account, Futures Accounts or Commodity Account).
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Examples of Term Loan Priority Accounts in a sentence

  • In addition, unless and until the Discharge of ABL Obligations occurs, the Term Agent and the Term Lenders each hereby consents to the application, prior to the issuance of a notice of Exercise of Secured Creditor Remedies by the Term Agent, of cash or other proceeds of Collateral, deposited under control agreements (other than any cash held in Term Loan Priority Accounts) to the repayment of ABL Obligations pursuant to the ABL Documents (subject to reborrowing as permitted in the ABL Credit Agreement).

  • In addition, unless and until the Discharge of the ABL Obligations occurs, the Term Agent and the other Term Secured Parties each consents to the application, prior to the delivery of a Term Cash Proceeds Notice to the ABL Agent, of cash or other proceeds of Collateral deposited under control agreements (other than any cash held in Term Loan Priority Accounts) to the repayment of the ABL Obligations pursuant to the ABL Documents.

  • Notwithstanding anything to the contrary contained in this Agreement, any Term Document or any ABL Document, each Loan Party and the Term Agent, for itself and on behalf of the Term Secured Parties, agrees that only Term Priority Collateral or proceeds of the Term Priority Collateral shall be deposited in the Term Loan Priority Accounts.


More Definitions of Term Loan Priority Accounts

Term Loan Priority Accounts shall have the meaning set forth in the ABL/Term Intercreditor Agreement.
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Term Loan Priority Accounts means any Asset Sale Term Priority Collateral Proceeds Pledged Account and any Deposit Accounts, Securities Accounts or Commodity Accounts, in each case that are intended to solely contain Term Priority Collateral or identifiable proceeds of the Term Priority Collateral (it being understood that any property in such Deposit Accounts, Securities Accounts or Commodities Accounts which is not Term Priority Collateral or identifiable proceeds of Term Priority Collateral shall not be Term Priority Collateral solely by virtue of being on deposit in the Asset Sale Term Priority Collateral Proceeds Pledged Account or any such Deposit Account, Securities Account or Commodity Account).
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Term Loan Priority Accounts means the Asset Sale Proceeds Pledged Account and any Deposit Accounts, Securities Accounts or Commodity Accounts, in each case that are intended to solely contain Term Priority Collateral or identifiable proceeds of the Term Priority Collateral (it being understood that any property in any of such Asset Sale Proceeds Pledged Account, Deposit Accounts, Securities Accounts or Commodity Accounts which is not Term Priority Collateral or identifiable proceeds of Term Priority Collateral shall not be Term Priority Collateral solely by virtue of being on deposit in any such Asset Sale Proceeds Pledged Account, Deposit Account, Securities Account or Commodity Account).
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Term Loan Priority Accounts means (a) the Qualified Reinvestment Proceeds Blocked Account (as defined in the Term Loan Agreement, as in effect on the date hereof), which is subject to a control agreement in favor of, and subject to the first priority lien of, the Term Loan Representative, and which account is intended to solely contain Qualified Reinvestment Proceeds (as defined in the Term Loan Agreement, as in effect on the date hereof), and (b) any other Deposit Account or Securities Account established after the date hereof, which is subject to a control agreement in favor of, and subject to the first priority lien of, the Term Loan Representative, and which account is intended to solely contain Term Loan Priority Collateral or identifiable proceeds of the Term Loan Priority Collateral; provided, however, any cash, Investment Property or other funds deposited in any such Term Loan Priority Account that do not constitute identifiable proceeds of the Term Loan Priority Collateral or Qualified Reinvestment Proceeds (as defined in the Term Loan Agreement, as in effect on the date hereof) shall be ABL Priority Collateral (notwithstanding the deposit therein) and shall be transferred to a Deposit Account or Securities Account constituting ABL Priority Collateral reasonably promptly after the Term Loan Agent or any Loan Party obtains knowledge thereof.
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Term Loan Priority Accounts means the “Term Loan Priority Accounts” as defined in the Term Loan Intercreditor Agreement (Xxxxx).
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Term Loan Priority Accounts has the meaning given such term in the Intercreditor Agreement.
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Related to Term Loan Priority Accounts

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • First Lien Term Loans means the “Term Loans” as defined in the First Lien Credit Agreement.

  • Credit Agreement Collateral Documents means the Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and each other agreement entered into in favor of the Credit Agreement Collateral Agent for the purpose of securing any Credit Agreement Obligations.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Second Lien Term Loans means the “Term Loans” under and as defined in the Second Lien Credit Agreement.

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Term Loan Security Documents means the “Security Documents” as defined in the Term Loan Credit Agreement.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under its sole dominion and control.

  • ABL Collateral Documents means all “Security Documents” as defined in the Original ABL Credit Agreement, and all other security agreements, mortgages, deeds of trust and other collateral documents executed and delivered in connection with any ABL Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted securing any ABL Obligations or under which rights or remedies with respect to such Liens are governed, in each case as the same may be amended, supplemented, waived or modified from time to time.

  • Additional Collateral Documents as defined in the Base Intercreditor Agreement.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • ABL/Term Loan Intercreditor Agreement means the Intercreditor Agreement, dated as of the Closing Date, by and among the Collateral Agent, Xxxxxx Xxxxxxx Senior Funding, Inc., as collateral agent under the Second Lien Term Loan Credit Agreement, Bank of America, N.A., as collateral agent under the ABL Credit Agreement, Parent and the Subsidiary Loan Parties party thereto, as amended, restated, supplemented or otherwise modified from time to time in accordance with the requirements thereof and of this Agreement.

  • Junior Priority Obligations means the Original Second Lien Obligations and any Additional Obligations constituting Junior Priority Debt.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Term Loan Credit Agreement has the meaning set forth in the recitals to this Agreement.

  • Credit Agreement Secured Parties means the “Secured Parties” as defined in the Credit Agreement.

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • Second Priority Collateral Documents means the Noteholder Collateral Documents and any other agreement, document or instrument pursuant to which a Lien is now or hereafter granted securing any Second Priority Claims or under which rights or remedies with respect to such Liens are at any time governed.

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.