Discharge of Senior Lien Obligations definition

Discharge of Senior Lien Obligations means the Senior Lien Obligations being Paid in Full, notice of which will be given pursuant to Section 1.4.

Discharge of Senior Lien Obligations means, except to the extent otherwise provided in Section 5.8, the Discharge of Initial Senior Lien Obligations and the Discharge of each additional Series of Senior Lien Obligations has occurred.

Discharge of Senior Lien Obligations means, subject to refinancing and reinstatement pursuant to Sections 5.3 and 5.4, the time at which (i) all the Senior Lien Obligations (other than contingent indemnification and reimbursement obligations as to which no claim has been asserted by the Person entitled thereto) have been paid in full in cash and all Commitments (or commitments defined by reference to a similar term) (as defined in any Senior Lien Credit Agreement) have been terminated, (ii) all letters of credit issued under any Senior Lien Credit Agreement have been terminated or expired or cash collateral or backstop letters of credit in respect thereof in compliance with such Senior Lien Credit Agreement have been delivered (or such other arrangements reasonably satisfactory to the Senior Lien Agent relating to such Senior Lien Credit Agreement and each applicable issuing bank have been made) and (iii) adequate provision satisfactory to the applicable Senior Lien Secured Parties shall have been made for any contingent or unliquidated Senior Lien Obligations related to claims, causes of action or other liabilities that have been asserted by the Senior Lien Secured Parties and for which reimbursement or indemnification is required under the Senior Lien Documents.

Examples of Discharge of Senior Lien Obligations in a sentence

• Until the Discharge of Senior Lien Obligations has occurred, if the Junior Lien Collateral Agent or any other Junior Lien Claimholder shall, at any time, receive any proceeds of any such insurance policy or any such award or payment in contravention of this Agreement, then it shall segregate and hold in trust and forthwith pay such proceeds over to the Senior Lien Collateral Agent in accordance with the terms of Section 4.2.

• As a consequence of these alterations, some riparian areas do not fulfill their historic roles as catchment basins to prevent or minimize flooding, as sediment traps and nutrient/chemical filters, as rearing grounds for aquatic species, as sources of food and cover, or as migration corridors for both terrestrial and aquatic species.

• This Agreement shall terminate and be of no further force and effect on the earlier to occur of (x) the date on which there has been a Discharge of Senior Lien Obligations and (y) the date on which there has been a Discharge of Junior Lien Obligations, in each case, subject to Sections 5.6 and 6.5; provided, however, that no termination shall relieve any party of its obligations incurred hereunder prior to the date of termination.

• This authorization is coupled with an interest and is irrevocable until the Discharge of Senior Lien Obligations.

• If any such prepayments are received, at any time before the Discharge of Senior Lien Obligations by one or more of the Third Lien Claimholders, they shall be held in trust for the benefit of the Senior Lien Claimholders and forthwith paid over to Senior Lien Agent for the benefit of the Senior Lien Claimholders subject to the terms of the Intercreditor Agreement.

More Definitions of Discharge of Senior Lien Obligations

Discharge of Senior Lien Obligations means, except to the extent otherwise expressly provided in Section 5.5:

Discharge of Senior Lien Obligations means the Discharge of Revolving Loan Obligations and the Discharge of Term Loan Obligations.

Discharge of Senior Lien Obligations means each of the following has occurred: has occurred:

Discharge of Senior Lien Obligations shall have the meaning set forth in the ABL/Term Intercreditor Agreement.

Discharge of Senior Lien Obligations means, subject to reinstatement pursuant to Section 5.4, the time at which all the Senior Lien Obligations (other than contingent indemnification and reimbursement obligations as to which no claim has been asserted by the Person entitled thereto) have been paid in full in cash and all Commitments (or commitments defined by reference to a similar term) (as defined in any Senior Lien Credit Agreement) have been terminated.

Discharge of Senior Lien Obligations shall have the meaning given to the term in the Intercreditor Agreement.

Discharge of Senior Lien Obligations means the Discharge of the Initial Senior Lien Credit Agreement has occurred and the Discharge of each Additional Senior Lien Credit Agreement has occurred.