First Priority Intercreditor Agreement definition

First Priority Intercreditor Agreement means the intercreditor agreement, dated as of May 22, 2015, among the Senior Secured Credit Facilities Collateral Agent, as agent under the Credit Facility Documents and the collateral agents for the Existing First Lien Notes, as supplemented on May 17, 2017 and September 24, 2019, and as further supplemented on the Issue Date by a joinder thereto, executed by the Collateral Agent and the other parties thereto, as it may be amended from time to time in accordance with this Indenture.

First Priority Intercreditor Agreement means the intercreditor agreement, dated as of the date hereof, among the Company, the other Grantors party thereto, the Existing Secured Credit Facility Collateral Agent, the Trustee and the Notes Collateral Agent, as it may be amended, amended and restated, modified, renewed or replaced from time to time in accordance with this Indenture.

First Priority Intercreditor Agreement means the First-Priority Intercreditor Agreement dated as of May 4, 2012, among Verso Paper Holdings LLC, Verso Paper Finance Holdings LLC, the subsidiaries of Verso Paper Holdings LLC name therein, Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent under the credit agreement dated as of May 4, 2012, and Wilmington Trust, National Association, as the trustee and collateral agent under the Existing First-Lien Notes Indenture, as it may be amended, restated, supplemented or otherwise modified from time to time.

Examples of First Priority Intercreditor Agreement in a sentence

• The Trustee and the Collateral Agent, as the case may be, hold the Collateral in trust for the benefit of the Holders of the Notes, in each case pursuant to the Collateral Documents and the First Priority Intercreditor Agreement.

• The Trustee and the Issuers hereby acknowledge and agree that the Collateral Agent holds the Collateral in trust for the benefit of the Holders and the Trustee and pursuant to the terms of the Collateral Documents and the First Priority Intercreditor Agreement.

• For purposes of the provisions hereof and the First Priority Intercreditor Agreement requiring the Issuers to designate Indebtedness for the purposes of the term “First Priority Obligations,” “Future First Lien Indebtedness,” “Junior Priority Indebtedness” or any other such designations hereunder or under the First Priority Intercreditor Agreement, any such designation shall be sufficient if such requirements under the First Priority Intercreditor Agreement are satisfied.

• Subject to the provisions of the First Priority Intercreditor Agreement, the Trustee is authorized to receive any funds for the benefit of the Holders distributed under the Security Documents, and to make further distributions of such funds to the Holders according to the provisions of this Indenture.

• The rights and obligations of the parties hereunder with respect to the Collateral are subject to the provisions of the Intercreditor Agreement, the First Priority Intercreditor Agreement and any Additional Intercreditor Agreement.

More Definitions of First Priority Intercreditor Agreement

First Priority Intercreditor Agreement means any intercreditor agreement governing intercreditor arrangements among the First Priority Obligations consistent with market terms (as determined in good faith by the Issuer).

First Priority Intercreditor Agreement means the intercreditor agreement dated on or about the Issue Date, among the Issuer, the Original Guarantors, the Trustee, the facility agent under the New Senior Revolving Credit Facility and the Security Agent, as amended from time to time.

First Priority Intercreditor Agreement means the intercreditor agreement, dated as of May 22, 2015, as supplemented by Joinder No. 1, dated as of May 17, 2017, among the Issuers, 1013421 B.C. Unlimited Liability Company, the other grantors party thereto, JPMorgan Chase Bank, N.A., as collateral agent under the Credit Facility Documents, the collateral agent for the 2022 First Lien Notes and the collateral agent for the 2024 First Lien Notes, as it may be further amended from time to time in accordance with this Indenture.

First Priority Intercreditor Agreement means a first priority intercreditor agreement among the Administrative Agent, the Collateral Agent and one or more representatives for holders of one or more classes of applicable Permitted Incremental Equivalent Debt and/or Credit Agreement Refinancing Indebtedness incurred outside of this Agreement ranking pari passu with the Secured Obligations, to be in such form and substance as the Administrative Agent and Borrower may reasonably agree.

First Priority Intercreditor Agreement means (i) the intercreditor agreement dated as of May 4, 2012 among Credit Suisse AG, Cayman Islands Branch, as first-lien revolving facility collateral agent, Wilmington Trust, National Association, as trustee under the Existing Senior Secured Notes and as collateral agent, the Issuers, and the other parties from time to time party thereto, as heretofore and hereafter amended, restated, supplemented or otherwise modified from time to time and (ii) any other intercreditor agreement that is not materially less favorable to the holders of the Securities than the intercreditor agreement referred to in clause (i).

First Priority Intercreditor Agreement means (i) the First Lien Intercreditor Agreement, dated as of April 7, 2020, among the First Lien Collateral Agent, the Existing First Lien Notes Trustee, the Credit Agreement Agent and the other parties thereto, as amended, amended and restated, extended, supplemented or otherwise modified from time to time in accordance with the Credit Agreement and the Existing First Lien Notes Indenture, in each case, to the extent outstanding or (ii) any replacement thereof or other intercreditor agreement that is consistent with market terms (as determined in good faith by the Issuer).

First Priority Intercreditor Agreement means the intercreditor agreement, dated as of November 6, 2017, among the First Lien Notes Collateral Agent, the Authorized Representative of the holders of the Senior Credit Facilities Obligations, the representatives of each other series of First Priority Lien Obligations, the Issuers and the Guarantors party thereto from time to the time, as amended, amended and restated, supplemented, waived, modified, renewed or replaced from time to time.