Revolver Priority Collateral has the meaning set forth in the ABL Intercreditor Agreement.
Revolver Priority Collateral means all “ABL Priority Collateral” (as such term is defined in the Intercreditor Agreement).
Revolver Priority Collateral means (a) Accounts Receivable of each Loan Party that arise from the sale, leasing, assignment or other disposition of Inventory or the rendition of services, or from the licensing of, or similar arrangements relating to, patents, trademarks, copyrights and other intellectual property in the ordinary course of business, (b) Collateral Records, (c) deposit accounts (as defined in the Uniform Commercial Code) and all amounts therein (other than amounts therein constituting identifiable Proceeds of Term Priority Collateral) of any Loan Party, (d) Inventory of each Loan Party, (e) to the extent evidencing or relating to any of the foregoing, supporting obligations, letter of credit rights, payment intangibles and documents (as each such term is defined in the Uniform Commercial Code), and (f) all Proceeds and products (whether tangible or intangible) of the foregoing, including Proceeds of insurance covering any or all of the foregoing, in each case to the extent they relate to clauses (a) through (e) above. For the avoidance of doubt, Revolver Priority Collateral shall not include (i) equipment or any other asset acquired with cash proceeds thereof except to the extent such asset acquired is described in clauses (a) through (e) above, (ii) during the continuance of an Event of Default, proceeds of business interruption insurance, if any, and (iii) Proceeds of Revolving Loans (other than such Proceeds constituting Collateral described in clauses (a) through (e) above).
Examples of Revolver Priority Collateral in a sentence
Obligations under the ABL Facility are secured by a first lien on the Revolver Priority Collateral (which generally includes, among other things, accounts receivables and inventory) and by a second lien on the Fixed Asset Collateral (which includes by way of example, Property, Plant, and Equipment).
The DIP ABL Facility and DIP Term Loan Facility will share pari passu liens on any asset of the Debtors that, as of the Petition Date, did not comprise either Revolver Priority Collateral or Term Loan Priority Collateral.
The obligations under the DIP Term Loan Facility will be secured by (a) a first priority priming lien upon and security interest in the Term Loan Priority Collateral and (b) a second priority priming lien on all Revolver Priority Collateral.
The Prepetition Second Lien Loan Agreement is secured by a second priority lien on the Term Loan Priority Collateral and a third priority lien on the Prepetition Revolver Priority Collateral, subject to the terms of the Intercreditor Agreement.
The Prepetition First Lien Loan Agreement is secured by a first priority lien on intellectual property, furniture, fixtures and equipment and certain other assets (collectively, the “Term Loan Priority Collateral”) and a second priority lien on the Prepetition Revolver Priority Collateral, subject to the terms of the Intercreditor Agreement.
More Definitions of Revolver Priority Collateral
Revolver Priority Collateral means all Collateral.
Revolver Priority Collateral means (a) Inventory (including rights in all returned or repossessed Inventory) of each Loan Party, (b) Accounts Receivable of each Loan Party that arise from the sale, leasing, assignment or other disposition of Inventory or the rendition of services, or from the licensing of, or similar arrangements relating to, patents, trademarks, copyrights and other intellectual property in the ordinary course of business, (c) Collateral Records, (d) deposit accounts (as defined in the Uniform Commercial Code) and all amounts therein (other than amounts therein constituting identifiable Proceeds of Term Priority Collateral) of any Loan Party, (e) to the extent evidencing or relating to any of the foregoing, supporting obligations, letter of credit rights, payment intangibles and documents (as each such term is defined in the Uniform Commercial Code), (f) five percent (5%) of each termination payment received from Autozone Parts, Inc. in connection with the termination of the customer contract between the Borrower and Autozone Parts, Inc. in an aggregate amount for all such payments not to exceed $3,000,000, and (g) all Proceeds and products (whether tangible or intangible) of the foregoing, including Proceeds of insurance covering any or all of the foregoing, in each case to the extent they relate to clauses (a) through (f) above. For the avoidance of doubt, Revolver Priority Collateral shall not include (i) patents, trademarks, copyrights, other intellectual property or any other asset acquired with cash proceeds thereof except to the extent such asset acquired is described in clauses (a) through (f) above, (ii) during the continuance of an Event of Default, proceeds of business interruption insurance, (iii) Proceeds of Revolving Loans (other than such Proceeds constituting Collateral described in clauses (a) through (f) above) and (iv) any payments received by the Borrower or any of its Subsidiaries from any of its respective customers in connection with the termination of any applicable customer contract (other than the portion of such payments received from Autozone Parts, Inc. described in clause (f) above).
Revolver Priority Collateral shall have the meaning set forth in the Intercreditor Agreement. After repayment of the obligations under the Term Loan and Note Documents and release of the Liens securing same, the term “Revolver Priority Collateral” shall mean all Collateral.
Revolver Priority Collateral means (a) Inventory, (b) As-Extracted Collateral, (c) Accounts that arise from the sale, leasing, licensing, assignment or other disposition of Inventory or As-Extracted Collateral or the rendition of services, (d) Revolving Loan Intangibles, (e) Revolving Loan Records, and (f) all Proceeds and products (whether tangible or intangible) of the foregoing, including Proceeds of insurance covering any or all of the foregoing, in each case to the extent they relate to clauses (a) through (e) above, provided, that, Revolver Priority Collateral shall not include Post-Default Collateral.
Revolver Priority Collateral means all of the types and items of Revolver Collateral described or identified on Exhibit A attached hereto, whether now owned or hereafter acquired or existing and wherever located.
Revolver Priority Collateral means Collateral constituting (a) Inventory (including rights in all returned or repossessed Inventory of the Loan Parties), (b) Accounts Receivable that arise from the sale, leasing, assignment or other disposition of Inventory or the rendition of services, or from the licensing of, or similar arrangements relating to, patents, trademarks, copyrights and other intellectual property in the ordinary course of business, (c) Collateral Records, (d) Deposit Accounts (other than amounts therein constituting (A) amounts from Foreign Subsidiaries, but in the case of Collateral of any Foreign Loan Party, such Collateral will be determined pursuant to the other provisions of this definition or (B) identifiable Proceeds of Term Priority Collateral), (e) to the extent evidencing or relating to any of the foregoing, supporting obligations, letter of credit rights, payment intangibles and documents (as each such term is defined in the Uniform Commercial Code) and documents of title (as defined in the PPSA), and (f) all Proceeds and products (whether tangible or intangible) of the foregoing, including Proceeds of insurance covering any or all of the foregoing, in each case to the extent they relate to clauses
Revolver Priority Collateral means all assets of the Loan Parties covered by a Lien in favor of the Revolver Agent and constituting Accounts, inventory and related assets, including any assets comprising the “Borrowing Base” as defined in the Revolver Credit Agreement (excluding property, plant and equipment); provided that the foregoing definition shall be subject to the terms of the Intercreditor Agreement.