Discharge of Senior Priority Obligations definition

Discharge of Senior Priority Obligations means the occurrence of all of the Discharge of Original First Lien Obligations and the Discharge of Additional Obligations in respect of Senior Priority Debt.

Discharge of Senior Priority Obligations means the occurrence of all of Discharge of Original First Lien Obligations [the Discharge of [ ]i First Lien Obligations] and the Discharge of Additional Obligations in respect of Senior Priority Debt.

Discharge of Senior Priority Obligations as defined in the Base Intercreditor Agreement.

Examples of Discharge of Senior Priority Obligations in a sentence

• Subject to Section 6.4, this Agreement shall become effective when executed and delivered by the parties hereto and shall continue to be effective until the Discharge of Senior Priority Obligations shall have occurred.

• After the Discharge of Senior Priority Obligations the Designated Second Priority Representative shall have all of the rights provided to the Designated Senior Priority Representative under the preceding sentence mutatis mutandis (without any consent, sanction, authority or further confirmation from any Second Priority Secured Party, Senior Subordinated Priority Party, Intra-Group Lender, Debtor or the Honeywell Indemnitee).

• Each Credit Party shall deliver all Control Collateral when required to be delivered pursuant to the Credit Documents to (x) until the Discharge of Senior Priority Obligations, the Senior Priority Representative and (y) thereafter, the Junior Priority Representative.

• The Junior Priority Collateral Agent, on behalf of itself and each Junior Priority Claimholder hereby waivers any rights of subrogation it may have acquired as a result of any payment hereunder until the Discharge of Senior Priority Obligations has occurred.

• Subject to Section 5.10(b), so long as the Discharge of Senior Priority Obligations (excluding any Secured Hedge Obligations and any Cash Management Obligations) has not occurred, none of the Cash Management Providers shall be entitled to take any Enforcement Action in respect of any of the Cash Management Obligations owed to it.

More Definitions of Discharge of Senior Priority Obligations

Discharge of Senior Priority Obligations means the date on which the Discharge of First Lien Credit Agreement Obligations and the Discharge of each Additional Senior Priority Debt Facility has occurred.

Discharge of Senior Priority Obligations the “Discharge of Senior Priority Obligations” as defined in the Intercreditor Agreement or the equivalent term in any Other Intercreditor Agreement.

Discharge of Senior Priority Obligations means, except to the extent otherwise provided in Section 2.4(f) and subject to Section 6.17, (a) with respect to the Senior Note Obligations or the Junior Note Obligations secured by ABL Priority Collateral, the Discharge of ABL Priority Obligations, and (b) with respect to ABL Obligations secured by the Note Priority Collateral, the Discharge of Note Priority Obligations.

Discharge of Senior Priority Obligations means, subject to the terms of Section 9.3 hereof, the termination of the commitments of the Senior-Priority Lenders and the financing arrangements provided by the Senior-Priority Lenders and the other applicable Senior-Priority Secured Parties to the Grantors under the Senior-Priority Non-ABL Loan Agreement, (b) the payment in full in cash of the Senior-Priority Obligations (other than the Senior-Priority Obligations described in clause (c) of this definition and any Senior-Priority Obligations consisting of unasserted contingent obligations) and (c) payment in full in cash, cash collateralization or at the option of the applicable Issuing Bank or Senior-Priority Secured Party to whom any Term Loan Hedging/Cash Management Obligations are owed, the delivery to such Issuing Bank or other Senior-Priority Secured Party of a letter of credit payable to such Issuing Bank or other Senior-Priority Secured Party in either case to the extent required under the terms of the Senior-Priority Non-ABL Loan Agreement, in respect of letters of credit issued under the Senior-Priority Non-ABL Loan Agreement and Term Loan Hedging/Cash Management Obligations, respectively. If, after receipt of any payment of, or proceeds of Collateral applied to the payment of, the Senior-Priority Obligations, any Senior-Priority Agent or any other Senior-Priority Secured Party is required to surrender or return such payment or proceeds to any person for any reason, then the Senior-Priority Obligations intended to be satisfied by such payment or proceeds shall be reinstated and continue and this Agreement shall continue in full force and effect as if such payment or proceeds had not been received by such Senior-Priority Agent or other Senior-Priority Secured Party, as the case may be, and no Discharge of Senior-Priority Obligations shall be deemed to have occurred.

Discharge of Senior Priority Obligations shall have the meaning assigned to such term in the Cash Flow Intercreditor Agreement.

Discharge of Senior Priority Obligations means the date on which the Discharge of each series of Senior Priority Obligations has occurred; provided that the Discharge of Senior Priority Obligations shall be deemed not to have occurred if such Senior Priority Obligations are being Refinanced in accordance with Section 5.06.

Discharge of Senior Priority Obligations means the occurrence of botheach of the Discharge of Senior Priority Fixed Asset Obligations and, the Discharge of Revolving Credit Obligations and the Discharge of 2016 Secured Notes Obligations.