Examples of ABL Priority Collateral in a sentence
The Borrowers will ensure that the Net Proceeds of any casualty or other insured damage to any ABL Priority Collateral (whether in the form of insurance proceeds, condemnation awards or otherwise) are collected and applied in accordance with the applicable provisions of this Agreement and the Collateral Documents.
Also, if granting a security interest in any after-acquired property which constitutes Term Loan Priority Collateral or ABL Priority Collateral requires the consent of a third party, the Issuer shall use commercially reasonable efforts to obtain such consent with respect to the security interest for the benefit of the Notes Collateral Agent on behalf of the Trustee and the Holders of the Notes.
Until the ABL Obligations Payment Date, the Non-ABL Representative agrees, on behalf of itself and the other Non-ABL Secured Parties, that none of them will seek relief from the automatic stay or from any other stay in any Insolvency Proceeding or take any action in derogation thereof, in each case in respect of any ABL Priority Collateral, without the prior written consent of the ABL Representative.