Term Loan Priority Collateral definition

Term Loan Priority Collateral as defined in the Intercreditor Agreement.

Term Loan Priority Collateral shall have the meaning assigned to such term in the ABL/Term Loan Intercreditor Agreement.

Term Loan Priority Collateral has the meaning assigned to such term in the Intercreditor Agreement (it being understood and agreed that any time the Revolving Loan Facility is not in effect, the term "Term Loan Priority Collateral" shall mean all Collateral).

Examples of Term Loan Priority Collateral in a sentence

• During the period of actual use, occupation or control by the ABL Collateral Agent (the “Access Period”) of any Term Loan Priority Collateral, the ABL Secured Parties shall be obligated to repair at their expense any physical damage (ordinary wear-and-tear excepted) to such Term Loan Priority Collateral resulting from such use, occupation or control to leave the property in substantially the same condition as it was at the commencement of the Access Period.

• The ABL/Term Loan Intercreditor Agreement contains similar provisions regarding the rights of the Term Loan Collateral Agents and the holders of Term Loan Obligations and restrictions upon the ABL Collateral Agent with respect to the Term Loan Priority Collateral and holders of ABL Obligations.

• In the event that amounts are received in respect of Capital Stock in an Insolvency or Liquidation Proceeding, such amounts shall be deemed to be proceeds received from a sale or disposition of ABL Priority Collateral and Term Loan Priority Collateral and shall be allocated as proceeds of ABL Priority Collateral and Term Loan Priority Collateral in proportion to the ABL Priority Collateral and Term Loan Priority Collateral owned at such time by the issuer of such Capital Stock.

• All of those borrowings could be secured on a first-priority basis by, and as a result, would have a prior claim on, among other things, the ABL Priority Collateral, and on a second-priority basis by the Term Loan Priority Collateral.

• If any Term Loan Collateral Agent or ABL Collateral Agent takes actual possession of any documentation which contain information identifying to ABL Priority Collateral or Term Loan Priority Collateral, then the ABL Collateral Agent or any Term Loan Collateral Agent, as applicable, shall be able to inspect and copy such documentation with reasonable advance notice.

More Definitions of Term Loan Priority Collateral

Term Loan Priority Collateral as defined in the ABL/Term Loan Intercreditor Agreement, whether or not the same remains in full force and effect.

Term Loan Priority Collateral means all Collateral).

Term Loan Priority Collateral means all Collateral other than Revolving Credit Priority Collateral. Without limitation of the foregoing, property not of a type described in the definition of “Revolving Credit Priority Collateral,” and acquired by an Obligor, or created, after the commencement of an Insolvency Proceeding with respect to such Obligor, and which, but for the application of Section 552 of the Bankruptcy Code, would constitute Collateral, shall, for the purposes of this Agreement, nonetheless constitute “Term Loan Priority Collateral.” Notwithstanding the foregoing, in no event shall property that is otherwise Term Loan Priority Collateral constitute Revolving Credit Priority Collateral due to the fact that it was acquired by the Company or any other Obligor with the Proceeds of Revolving Credit Priority Collateral.

Term Loan Priority Collateral means Collateral other than Revolving Loan Priority Collateral and ABL Collateral.

Term Loan Priority Collateral means all Collateral, other than the ABL Priority Collateral, including all Real Property, Equipment, Intellectual Property and Capital Stock of any direct or indirect Subsidiaries of Holdings, collateral security and guarantees with respect to any Term Loan Priority Collateral and all cash, Money, instruments, securities, financial assets and deposit accounts directly received as Proceeds of any Term Loan Priority Collateral; provided, however, no Proceeds of Proceeds will constitute Term Loan Priority Collateral unless such Proceeds of Proceeds would otherwise constitute Term Loan Priority Collateral or are credited to any Asset Sales Proceeds Account, provided, further that under no circumstance shall Excluded Assets (as defined in the next succeeding sentence) be Term Loan Priority Collateral. As used in this definition of “Term Loan Priority Collateral,” the term “Excluded Assets” shall have the meaning provided (x) prior to the Discharge of Term Loan Obligations, in the Original Term Loan Credit Agreement (if the Original Term Loan Credit Agreement is then in effect), or in any other Additional Term Credit Facility then in effect (if the Original Term Loan Credit Agreement is not then in effect) or the Term Loan Collateral Documents relating thereto, and (y) from and after the Discharge of Term Loan Obligations, in the applicable Additional Term Credit Facility then in effect which is designated as applicable for the purposes of this definition or the Additional Term Collateral Documents relating thereto.

Term Loan Priority Collateral means any assets of the Borrower and the other Credit Parties and proceeds thereof that in each case do not constitute ABL Priority Collateral.

Term Loan Priority Collateral means all Common Collateral consisting of the following: