Pari Passu Lien Obligations definition

Pari Passu Lien Obligations means (a) all the Credit Agreement Obligations, (b) all the Initial Additional Pari Passu Lien Obligations and (c) all the Additional Pari Passu Lien Obligations.

Pari Passu Lien Obligations means any Financial Indebtedness that has equal or substantially equal Security Interest priority to the Facilities on the Security (taking into account any intercreditor arrangements).

Pari Passu Lien Obligations means (1) all Indebtedness under Credit Facilities (other than the ABL Revolver and any other ABL Credit Facility Incurred pursuant to Section 4.6(b)(i)) secured by the Common Collateral and subject to the Pari Passu Intercreditor Agreement, (2) the Notes Obligations and the Obligations in respect of any refunding, refinancing or defeasement of the Notes, and (3) Additional Pari Passu Lien Obligations, if any, permitted to be Incurred under Section 4.6.

Examples of Pari Passu Lien Obligations in a sentence

• All sums disbursed by the Collateral Agent in connection with this paragraph, including attorneys’ fees, court costs, expenses and other charges relating thereto, shall be payable, upon written demand as provided in Section 9.05 of the Credit Agreement or any comparable provision of the Senior Secured Note Indenture or any Other Pari Passu Lien Obligations Agreement, by the Grantors to the Collateral Agent and shall be additional Obligations secured hereby.

• The Security Interest in the Collateral securing the applicable Note Obligations shall also be released on the terms set forth in the Senior Secured Note Indenture or the applicable Other Pari Passu Lien Obligations Agreement, as applicable.

• All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in writing and given as provided in Section 9.01 of the Credit Agreement or after the Loan Obligations have been paid in full, in accordance with the Term/Note Intercreditor Agreement or, if only one class of Note Obligations or Other Pari Passu Lien Obligations remains outstanding, in accordance with the Senior Secured Notes Indenture or applicable Other Pari Passu Lien Obligations Agreement, as applicable.

• Nothing in this Agreement is intended to or shall impair the obligations of the Company or any other Grantor, which are absolute and unconditional, to pay any of the North America ABL Obligations, the Excess North America ABL Obligations and the Notes Pari Passu Lien Obligations as and when the same shall become due and payable in accordance with their terms.

• If the new North America ABL Obligations under the new North America ABL Loan Documents are secured by assets of Grantors constituting Collateral that do not also secure the Notes Pari Passu Lien Obligations, then the Notes Pari Passu Lien Obligations shall be secured at such time by a second priority Lien on such assets to the same extent provided in the Indenture Pari Passu Lien Collateral Documents and this Agreement.

More Definitions of Pari Passu Lien Obligations

Pari Passu Lien Obligations means any Additional Notes and any other Indebtedness that has a Stated Maturity date that is longer than the Notes and that is permitted under this Indenture to have Pari Passu Lien Priority relative to the Notes with respect to the Collateral and is not secured by any other assets; provided that an authorized representative of the holders of such Indebtedness (other than any Additional Notes) shall have executed a joinder to the Collateral Trust and Agency Agreement in the form provided therein.

Pari Passu Lien Obligations means any Indebtedness that has Pari Passu Lien Priority relative to the Notes and the Note Guarantees with respect to the Collateral.

Pari Passu Lien Obligations means Permitted First Priority Incremental Equivalent Debt, Permitted First Priority Refinancing Debt, any Indebtedness, Disqualified Stock or Preferred Stock incurred in reliance on clause (x) of the lead-in to Section 6.01(b)(xiii) under clause (B)(1) thereof and any Refinancing Indebtedness in respect thereof that is secured by a Lien on the Collateral that is pari passu with the Lien on such Collateral securing all or a portion of the Obligations (other than Obligations arising from Credit Increases or Other Term Loans that are junior in right of security to the then outstanding Term Loans).

Pari Passu Lien Obligations means all Obligations other than the Priority Lien Obligations.

Pari Passu Lien Obligations means the Pari Passu Lien Debt and all other Obligations in respect of Pari Passu Lien Debt, together with Secured Hedging Obligations, including any post-petition Interest whether or not allowable, and all guarantees of any of the foregoing. In addition to the foregoing, all obligations owing to the Collateral Agent in its capacity as such, whether pursuant to the Collateral Trust Agreement or one or more of the Pari Passu Lien Debt Documents, shall in each case be deemed to constitute Pari Passu Lien Obligations (with the obligations described in this sentence being herein the “Collateral Agent Obligations”), which Collateral Agent Obligations shall be entitled to the priority provided in the Collateral Trust Agreement. For the avoidance of doubt, Equipment Lease Obligations and Commercial Building Lender Obligations do not constitute Pari Passu Lien Obligations.

Pari Passu Lien Obligations means, collectively. the Term Loan Obligations, the Notes Obligations, and any other Additional Pari Passu Lien Obligations.

Pari Passu Lien Obligations means Pari Passu Indebtedness secured by Liens with Pari Passu Lien Priority with respect to the Collateral.