Examples of TL Priority Collateral in a sentence
Furthermore, at all times prior to the TL Credit Document Obligations Termination Date, the Collateral Agent is authorized by the parties hereto to effect transfers of TL Priority Collateral at any time in its possession (and any “control” or similar agreements with respect to TL Priority Collateral) to the Term Collateral Agent.
Unless and until the Discharge of Term Obligations has occurred, the Term Collateral Agent and the Term Secured Parties shall have the sole and exclusive right, subject to the rights of the Grantors under the Term Documents, to adjust settlement for any insurance policy covering the TL Priority Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) in respect of the TL Priority Collateral.
As security for the payment and performance in full of all the Notes Obligations and ABL Obligations each Grantor hereby grants to the Term Collateral Agent for the benefit of the Notes Secured Parties and the ABL Secured Parties a lien on and security interest in all of the right, title and interest of such Grantor, in and to and under the Pledged TL Priority Collateral wherever located and whether now existing or hereafter arising or acquired from time to time.
The TL Priority Collateral Account and funds on deposit therein shall at all times be subject to a Deposit Account Control Agreement or Securities Account Control Agreement and perfected, first-priority Lien in favor of Administrative Agent for the benefit of the Secured Parties, subject only to Permitted Liens.
As security for the payment and performance in full of all the Notes Obligations, each Grantor hereby grants to the ABL Collateral Agent for the benefit of the Notes Secured Parties a lien on and security interest in all of the right, title and interest of such Grantor, in and to and under the Pledged TL Priority Collateral wherever located and whether now existing or hereafter arising or acquired from time to time.
In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control.” In addition, Grantors agree that each mortgage in favor of the ABL Secured Parties covering any TL Priority Collateral shall contain such other language as the Term Collateral Agent may reasonably request to reflect the subordination of such mortgage to the mortgage in favor of the Term Secured Parties covering such TL Priority Collateral.
Following the Discharge of Term Obligations, until the Discharge of ABL Obligations has occurred, the Notes Collateral Agent, on behalf of itself and the Notes Secured Parties, agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the TL Priority Collateral without the prior written consent of the ABL Collateral Agent.
Identifiable proceeds of Asset Dispositions of Term Priority Collateral, and identifiable proceeds of insurance resulting from casualty of the Term Priority Collateral and of awards arising from condemnation of the Term Priority Collateral to the extent deposited in the TL Priority Collateral Account, (i) may not be commingled with any other funds and (ii) shall at all times remain segregated funds, separate and apart from any other funds of Borrower and its Subsidiaries.
Until the Discharge of Term Obligations has occurred, the ABL Collateral Agent, on behalf of itself and the ABL Secured Parties and the Notes Collateral Agent, on behalf of itself and the Notes Secured Parties, agree that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the TL Priority Collateral without the prior written consent of the Term Collateral Agent.
Until the Discharge of Term Obligations has occurred, the ABL Collateral Agent, on behalf of itself and the ABL Secured Parties, agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the TL Priority Collateral without the prior written consent of the Term Collateral Agent.