Priority and Security. The Administrative Agent, for the benefit of the Secured Parties, shall have a valid and perfected lien on and security interest in the Collateral (subject to Liens permitted under Section 8.2), with the priorities as set forth in Section 4.18.
Priority and Security. The Collateral Agents shall have a legal, valid and perfected Lien on and security interest in the Collateral with the priorities as set forth in Sections 3.20 and 10.1 (subject only to Permitted Senior Liens) and the Collateral Vessels shall be free of all Liens other than Permitted Collateral Vessel Liens and all other Collateral shall be free of all Liens other than Permitted Liens.
Priority and Security. The Collateral Agent shall have a legal, valid and perfected Lien on and security interest in the Collateral with the priorities as set forth in Sections 3.20 and 10.1 and the Collateral shall be free of all Liens other than Permitted Liens. The Indebtedness of SPC to any Person other than a Credit Party, listed on Schedule 3.1(c)(v), has been subordinated to the Indebtedness of SPC to the Guarantor (if any) and the Borrower pursuant to the Subordination Agreement.
Priority and Security. Subject to the Carve-Out, all obligations of the Borrowers and the Guarantors under the DIP Documents (or hereunder), including, without limitation, all principal, accrued interest, costs, fees, indemnities, reimbursements and premiums provided for herein and herein, and all obligations of the Debtors under the DIP Facility (the “DIP Obligations”) shall be entitled to super priority claim status pursuant to section 364(c)(1) of the Bankruptcy Code, with priority over any and all administrative expense claims and unsecured claims, of any kind or nature whatsoever, now existing or hereafter arising under the Bankruptcy Code (the “DIP Claims”) • Subject to the Carve-Out, all DIP Obligations in respect of the DIP Facility shall be:
Priority and Security. The Exit Credit Facility, any Hedge Agreement, and any cash management products and services provided by the Agent or any Lender or any direct or indirect Subsidiary or affiliate of Agent or any Lender will be secured by a (x) first priority perfected security interest in each Credit Party’s working capital assets, whether now existing or hereafter arising, including, all accounts, general intangibles, contract rights, all rights to the payment of money, deposit accounts, instruments, documents, chattel paper and inventory and (y) a second priority perfected security interest in all other assets, whether now existing or hereafter arising of the Credit Parties, in each case, subject to customary exceptions to be agreed (collectively, the “Collateral”).
Priority and Security. Subject to the Carve-Out, all obligations of the Borrowers and the Guarantors under the DIP Documents (or hereunder), including, without limitation, all principal, accrued interest, costs, fees, indemnities, reimbursements and premiums provided for herein and herein, and all obligations of the Debtors under the DIP Facility (the “DIP Obligations”) shall be entitled to super priority claim status pursuant to section 364(c)(1) of the Bankruptcy Code, with priority over any and all administrative expense claims and unsecured claims, of any kind or nature whatsoever, now existing or hereafter arising under the Bankruptcy Code (the “DIP Claims”) • Subject to the Carve-Out, all DIP Obligations in respect of the DIP Facility shall be: i. secured, pursuant to Section 364(c)(2) of the Bankruptcy Code, by a valid, enforceable, fully perfected and automatic first priority lien on all property and assets (or interests therein) of the Borrowers’ and the Guarantors’ estates (whether tangible, intangible, real, personal or mixed and wherever located) as of the Petition Date that, as of the Petition Date, was unencumbered (the “First Priority DIP Collateral”); including, without limitation, all real property and the facility located in Marble, North Carolina; and
Priority and Security. All obligations of the Loan Parties under the Exit Facility (the “Exit Obligations”) shall be secured by a first priority security interest in and lien on all now owned and hereafter acquired assets and property, real and personal, tangible and intangible, of the Borrower and the Guarantors, including on 100% of the equity interests in its subsidiaries (collectively, the “Collateral”). Perfection steps with respect to the Collateral will include but shall not be limited to those set forth in the definition of “Collateral and Guarantee Requirements” under and as defined in the Prepetition Credit Agreement.
Priority and Security. Subject to the Carve-Out, all obligations of the Debtors under the DIP Facility (the “DIP Obligations”) and any DIP Hxxxxx shall be:
Priority and Security
