Examples of Third Lien Obligations in a sentence
For the avoidance of doubt, a Replacement as contemplated by Section 4.04(a) shall not be deemed to cause a Discharge of Third Lien Obligations.
The Company and the other Grantors each acknowledges and agrees that the value of any payments or distributions in cash, property or other assets received by the Third Lien Representative, the Third Lien Collateral Agent or other Third Lien Claimholder that are paid over to any Senior Representative, Senior Collateral Agent or other Senior Claimholder pursuant to this Agreement shall not reduce any of the Third Lien Obligations.
Currently, the Port’s only Third Lien Obligations are payments (other than regularly scheduled payments) that may be owed by the Port to the insurer or counterparty under the Port’s outstanding PFC Bond Swaps.
Subordination of Third Lien Obligations 18 2.1 Subordination of Third Lien Obligations 18 2.2 Payment Standstill 18 2.3 No Commingling 19 SECTION 3.
See “OTHER AIRPORT OBLIGATIONS—Interest Rate Swaps—Series Eighteen Swaps.” Third Lien Obligations Third Lien Obligations are bonds or other obligations that have a lien on the Net Revenues that is subordinate to the lien of the SLBs and Junior Lien Obligations and are payable from the TLO Fund.