Term Loan Priority Collateral definition

Term Loan Priority Collateral as defined in the Intercreditor Agreement.

Term Loan Priority Collateral shall have the meaning assigned to such term in the ABL/Term Loan Intercreditor Agreement.

Term Loan Priority Collateral has the meaning assigned to such term in the Intercreditor Agreement (it being understood and agreed that any time the Revolving Loan Facility is not in effect, the term "Term Loan Priority Collateral" shall mean all Collateral).

Examples of Term Loan Priority Collateral in a sentence

• Such use by Working Capital Agent of the Term Loan Priority Collateral shall not be on an exclusive basis.

• Any such proceeds of Term Loan Priority Collateral so received by the Working Capital Agent upon or after the Discharge of Term Loan Obligations shall be applied by the Working Capital Agent to the Working Capital Obligations in such order as specified in the Working Capital Credit Documents and otherwise in accordance with the Working Capital Credit Documents.

• No Excess Cash Flow prepayment shall be required if the Consolidated First Lien Net Leverage Ratio is less than 2.50:1.00  100% of net cash proceeds received from incurrence of certain indebtedness  100% of net cash proceeds from certain sales or dispositions of L/C and Term Loan Priority Collateral (with reinvestment rights, exceptions, etc.

• The consent by the Term Loan Claimholders to the execution and delivery of the Working Capital Credit Documents and the grant to the Working Capital Agent on behalf of the Working Capital Claimholders of a Lien on the Term Loan Priority Collateral and all loans and other extensions of credit made or deemed made on and after the date hereof by the Term Loan Claimholders to the Grantors, shall be deemed to have been given and made in reliance upon this Agreement.

• The DIP Term Loan Obligations shall be secured by the Collateral, and the respective priorities of the Revolving Credit Facility and the DIP Term Loan Facility (and each facility thereof) with respect to the ABL Priority Collateral and the Term Loan Priority Collateral of the Loan Parties shall be set forth in the New DIP Order and in the Intercreditor Agreement.

More Definitions of Term Loan Priority Collateral

Term Loan Priority Collateral as defined in the ABL/Term Loan Intercreditor Agreement, whether or not the same remains in full force and effect.

Term Loan Priority Collateral means all Term Loan Collateral other than the Revolving Loan Priority Collateral.

Term Loan Priority Collateral means all Collateral).

Term Loan Priority Collateral means all Collateral other than Revolving Credit Priority Collateral. Without limitation of the foregoing, property not of a type described in the definition of “Revolving Credit Priority Collateral,” and acquired by an Obligor, or created, after the commencement of an Insolvency Proceeding with respect to such Obligor, and which, but for the application of Section 552 of the Bankruptcy Code, would constitute Collateral, shall, for the purposes of this Agreement, nonetheless constitute “Term Loan Priority Collateral.” Notwithstanding the foregoing, in no event shall property that is otherwise Term Loan Priority Collateral constitute Revolving Credit Priority Collateral due to the fact that it was acquired by the Company or any other Obligor with the Proceeds of Revolving Credit Priority Collateral.

Term Loan Priority Collateral means all Collateral other than the ABL Priority Collateral, including all Real Property, Equipment, Intellectual Property and Capital Stock of any direct or indirect Subsidiaries of the Company, collateral security and guarantees with respect to any Term Loan Priority Collateral and all cash, Money, instruments, securities, financial assets and deposit accounts directly received as Proceeds of any Term Loan Priority Collateral; provided, however, that no Proceeds of Proceeds will constitute Term Loan Priority Collateral unless such Proceeds of Proceeds would otherwise constitute Term Loan Priority Collateral or are credited to any Asset Sales Proceeds Account, provided, further that under no circumstance shall Excluded Assets (as defined in the next succeeding sentence) be Term Loan Priority Collateral. As used in this definition of “Term Loan Priority Collateral”, the term “Excluded Assets” shall have the meaning provided (x) prior to the Discharge of First Lien Term Loan Obligations, in the Original First Lien Term Loan Credit Agreement (if the Original First Lien Term Loan Credit Agreement is then in effect), or in any other Additional First Lien Term Credit Facility then in effect (if the Original First Lien Term Loan Credit Agreement is not then in effect) or the First Lien Term Loan Collateral Documents relating thereto, and (y) from and after the Discharge of First Lien Term Loan Obligations, in the applicable Additional First Lien Term Credit Facility then in effect which is designated as applicable for the purposes of this definition or the Additional First Lien Term Collateral Documents relating thereto.

Term Loan Priority Collateral means any assets of the Borrower and the other Credit Parties and proceeds thereof that in each case do not constitute ABL Priority Collateral.

Term Loan Priority Collateral as defined in the Closing Date Intercreditor Agreement.