Priority Facilities definition

Priority Facilities means any Permitted Incremental Equivalent Debt, Pari Passu Lien Debt, Permitted Ratio Debt and Permitted Acquisition Debt, in each case secured by the Collateral on a pari passu basis with the First Lien Obligations under this Agreement (but without regard to the control of remedies) and designated by Borrower from time to time in a written notice to the Priority Revolving Agent and the Administrative Agent as “Priority Facilities” pursuant to and in accordance with the last sentence of the definition of “Priority Revolving Facility”.
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Priority Facilities means the Facilities other than the Tranche D Term Facility;
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Priority Facilities means the First Lien Facilities and the Second Lien Notes.
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Examples of Priority Facilities in a sentence

  • The amount outstanding at any one time under the First Priority Facilities is limited by a borrowing base computation as described in the Refinanced DIP Credit Facility.

  • The amount outstanding at any one time under the First Priority Facilities is limited by a borrowing base computation as described in the Refinancing DIP Credit Facility.

  • In addition, UTL shall procure the release of the existing mortgages over its machinery which currently secure the Existing Second Priority Facilities and shall enter into a new second-ranking mortgage over such machinery which will, among other things, include a notation that the Liens created by such mortgages are junior and subordinated to the new Liens that will be created over such machinery to secure the notes and the New Senior Revolving Credit Facility.

  • The holders of the First Priority Facilities hereby agree that subject to the provisions of this Section 11.19.5, the Holders of the Second Priority Facility may file a proper proof of claim or proof of debt in any judicial proceedings relative to the Loan Parties, their respective creditors or their property.

  • Mandatory prepayments will be applied to Term Loan C only to the extent that no Loans, Commitments or any other obligations remain outstanding under or with respect to the First Priority Facilities, with any application being applied to the remaining scheduled amortization payments thereunder in inverse order of maturity.

  • All optional prepayments applicable to the Senior Secured Credit Facilities shall be applied first, to the First Priority Facilities as elected by Borrower and second, to the Term C Facility.

  • Contemporaneously with the registration and provision of such Liens, UTL shall procure the amendment of the existing mortgages over its land and buildings which currently secure the Existing Second Priority Facilities so as to include a notation in such mortgages that the Liens created by such mortgages are junior and subordinated to the new Liens that will be created to secure the Notes and the New Senior Revolving Credit Facility.

  • The documentation for the First Priority Facilities will include, among others, a credit agreement (the “First Priority Credit Agreement”), guarantees and appropriate pledge, security, mortgage and other collateral documents and an intercreditor agreement (collectively, the “First Priority Credit Documentation”) and containing the definitions set forth in Annex II hereto and customary terms for facilities of such type.

  • When there are no longer any outstanding loans or commitments under the First Priority Facilities, mandatory prepayments will be applied pro rata to the remaining amortization payments under the Term C Facility.

  • The financial covenant will be applicable beginning with the fiscal quarter ending December 31, 2006, and the covenant levels shall be less restrictive than the corresponding covenant in the First Priority Facilities by 0.5x EBITDA.


More Definitions of Priority Facilities

Priority Facilities means the First Lien Facility and the Revolving Facility.
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Related to Priority Facilities

  • City Facilities means city- or publicly-owned structures or equipment located within the right-of-way or public easement used for governmental purposes.

  • Liquidity Facilities means, collectively, the Class A Liquidity Facility and the Class B Liquidity Facility.

  • Utility Facilities means the plant, equipment and property, including but not limited to the poles, pipes, mains, conduits, ducts, cable, wires, plant and equipment located under, on, or above the surface of the ground within the public right-of-way of the city and used or to be used for the purpose of providing utility or telecommunications services. (Ord. 99-1003 §1 (part), 1999)

  • Majority Facility Lenders with respect to any Facility, the holders of more than 50% of the aggregate unpaid principal amount of the Term Loans or the Total Revolving Extensions of Credit, as the case may be, outstanding under such Facility (or, in the case of the Revolving Facility, prior to any termination of the Revolving Commitments, the holders of more than 50% of the Total Revolving Commitments).

  • Community facilities means a specific work, or improvement within this state or a specific item of equipment or tangible personal property owned or operated by any political subdivision or nonprofit corporation and used within this state to provide any essential service to the general public;

  • Refinancing Facility has the meaning specified in Section 2.16(a).

  • Liquidity Facility “Liquidity Obligations”, “Loan Trustee”, “Non-Extended Facility”, “Note Purchase Agreement”, “Operative Agreements”, “Participation Agreement”, “Performing Equipment Note”, “Person”, “Pool Balance”, “Rating Agencies”, “Regular Distribution Date”, “Replacement Liquidity Facility”, “Responsible Officer”, “Scheduled Payment”, “Special Payment”, “Stated Interest Rate”, “Subordination Agent”, “Taxes”, “Threshold Rating”, “Transfer”, “Trust Agreement”, “Trustee”, “Underwriters”, and “Underwriting Agreement”.

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

  • DIP Facilities means the DIP ABL Facility and the DIP Term Loan Facility.

  • Existing Facilities means all existing buildings and other facilities, the sites for the buildings or facilities, and furnishings or equipment for the buildings or facilities located on real property acquired by the building authority under the terms of this act.

  • Senior Credit Facilities means, collectively, the Senior ABL Facility and the Senior Term Facility.

  • Off-site facility means a structural BMP located outside the subject property boundary described in the permit application for land development activity.

  • Debt Facilities means one or more debt facilities (including, without limitation, the Credit Agreement) or commercial paper facilities with banks or other institutional lenders providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables) or letters of credit or issuances of debt securities evidenced by notes, debentures, bonds or similar instruments, in each case, as amended, restated, modified, renewed, refunded, replaced or refinanced (including by means of sales of debt securities) in whole or in part from time to time (and whether or not with the original administrative agent, lenders or trustee or another administrative agent or agents, other lenders or trustee and whether provided under the original Credit Agreement or any other credit or other agreement or indenture).

  • Refinancing Facility Agreement means a Refinancing Facility Agreement, in form and substance reasonably satisfactory to the Agent, among Holdings, the Borrower, each Subsidiary of the Borrower party to this Agreement, the Agent and one or more Refinancing Lenders, establishing Refinancing Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.26.

  • DIP means debtor-in-possession.

  • Existing Credit Facilities means (a) the 364-Day Credit Agreement dated as of February 28, 2012 among TMCC, TMFNL, TFSUK, TLG, TCPR, TCCI and TKG, the lenders party thereto, BNP Paribas, as administrative agent, swing line agent and swing line lender, Citibank, N.A., as syndication agent and swing line lender, Bank of America, N.A., as syndication agent and swing line lender, The Bank of Tokyo-Mitsubishi UFJ, Ltd., as syndication agent, and JPMorgan Chase Bank, N.A., as documentation agent, (b) the Three Year Credit Agreement dated as of March 1, 2011, as amended by Amendment No. 1 dated as of February 28, 2012, among TMCC, TMFNL, TFSUK, TLG, TCPR, TCCI and TKG, the lenders party thereto, BNP Paribas, as administrative agent, swing line agent and swing line lender, Citibank, N.A., as syndication agent and swing line lender, Bank of America, N.A., as syndication agent and swing line lender, The Bank of Tokyo-Mitsubishi UFJ, Ltd., as syndication agent, and JPMorgan Chase Bank, N.A., as documentation agent, and (c) the Five Year Credit Agreement dated as of March 1, 2011, as amended by Amendment No. 1 dated as of February 28, 2012, among TMCC, TMFNL, TFSUK, TLG, TCPR, TCCI and TKG, the lenders party thereto, BNP Paribas, as administrative agent, swing line agent and swing line lender, Citibank, N.A., as syndication agent and swing line lender, Bank of America, N.A., as syndication agent and swing line lender, The Bank of Tokyo-Mitsubishi UFJ, Ltd., as syndication agent, and JPMorgan Chase Bank, N.A., as documentation agent.

  • LNG facility means a terminal which is used for the liquefaction of natural gas or the importation, offloading, and re-gasification of LNG, and includes ancillary services and temporary storage necessary for the re-gasification process and subsequent delivery to the transmission system, but does not include any part of LNG terminals used for storage;

  • Replacement Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • Class B Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • Bank Facilities means any overdraft limits or credit facility available to you and their associated terms;

  • Treatment facility means an institution (or distinct part thereof) for the treatment of alcoholism or drug abuse, which meets fully every one of the following tests: