Third Priority Debt definition

Third Priority Debt means any and all obligations, liabilities and indebtedness of every kind, nature and description owing by Debtors or any of Obligors to the Third Priority Noteholders and Third Priority Collateral Agent under the Third Priority Agreements, including, principal, interest, charges, fees, premiums, indemnities and expenses, however evidenced, whether as principal, surety, endorser, guarantor or otherwise, whether now existing or hereafter arising, whether arising before, during or after the initial or any renewal term of the Third Priority Agreements or after the commencement of any case with respect to Debtor or any of Obligors under the U.S. Bankruptcy Code or any similar statute (including the payment of interest and other amounts which would accrue and become due but for the commencement of such case, whether or not such amounts are allowed or allowable in whole or in part in such case), whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured, and whether arising directly or howsoever acquired by the Third Priority Noteholders.

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Third Priority Debt means any and all obligations, liabilities and Indebtedness of every kind, nature or description owing by Borrowers or Guarantors to the Third Priority Noteholders, and Third Priority Collateral Agent, including the obligations due under the Third Priority Senior Secured Notes and the Third Priority Agreements. and whether or not such obligations are direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured and whether arising directly or howsoever acquired by the Third Priority Noteholders.

Third Priority Debt means (i) the Indebtedness under the Third Priority Indenture and the Third Priority Debentures and (ii) any Additional Third Priority Debt.

Examples of Third Priority Debt in a sentence

Subject to Section 8.21, in the event of any conflict between the provisions of this Agreement and the provisions of any First Priority Debt Document, any Second Priority Debt Document or any Third Priority Debt Document, the provisions of this Agreement shall govern.
As between the Company and the other Grantors and the Third Priority Secured Parties, the foregoing provisions will not limit or otherwise affect the obligations of the Company and the other Grantors contained in any Third Priority Debt Document with respect to the incurrence of additional Second Priority Obligations.
Neither the Second Priority Representative nor any other Second Priority Secured Party shall have any duty to the Third Priority Representative or any other Third Priority Secured Party to act or refrain from acting in a manner that allows, or results in, the occurrence or continuance of an event of default or default under any agreement with Company or any Subsidiary (including the Third Priority Debt Documents), regardless of any knowledge thereof that they may have or be charged with.
As between the Company and the other Grantors and the Third Priority Secured Parties, the foregoing provisions will not limit or otherwise affect the obligations of the Company and the other Grantors contained in any Third Priority Debt Document with respect to the incurrence of additional First Priority Obligations.
Nothing in this Agreement shall prohibit the receipt by the Third Priority Representative or any other Third Priority Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Third Priority Debt Documents.
The Third Priority Debt Representative for each future Series of Third Priority Lien Debt will be required to deliver a Lien Priority Confirmation to the collateral agent, each First Priority Debt Representative and each Second Priority Debt Representative at the time of incurrence of such Series of Third Priority Lien Debt.
The Third Priority Agent hereby confirms that (i) all indebtedness outstanding under the Third Priority Debt Documents has been converted into equity of the Company and as a result there are no Third Priority Claims outstanding and the Third Priority Collateral no longer secures any Third Priority Claims and (ii) all other amendments to the Intercreditor Agreement shall not require the written consent, acknowledgment or signature of the Third Priority Agent.
Promptly following any Discharge of Third Priority Lien Obligation, each Third Priority Debt Representative with respect to each applicable Series of Third Priority Lien Debt that is so discharged will provide written notice of such discharge to the Collateral Agent and to each other Secured Debt Representative.
The undersigned Subsidiary (the “New Grantor”) is executing this Grantor Joinder Agreement in accordance with the requirements of the First Priority Debt Documents, the Second Priority Debt Documents and the Third Priority Debt Documents.
Each Collateral Agent represents and warrants to the other parties hereto that it has been authorized by the Secured Parties under and as defined in the First Priority Debt Agreement, the Second Priority Security Agreement, or the Third Priority Debt Agreement, as applicable, to enter into this Agreement.

More Definitions of Third Priority Debt

Third Priority Debt means all obligations to pay when due any principal, interest, and other amounts created by any of the debt instruments listed on Schedule C hereto, together with (a) any amendments, modifications, renewals or extensions thereof and (b) any interest accruing thereon after the commencement of a Proceeding, without regard to whether or not such interest is an allowed claim.