Priority Amount. If any Aggregate Buy-In Funds have not been paid to the Series 2 Holders specified in Section 3.05(a) (the “Specified Series 2 Holders”) or if any such Aggregate Buy-In Funds that have been paid to the Specified Series 2 Holders are recovered therefrom in connection with any bankruptcy or insolvency proceeding of the Company or any of its Subsidiaries, then notwithstanding anything herein to the contrary, the Holders agree, inter se, that prior to any other distributions under clause (b) of Section 6.06, an amount equal to the sum of such unpaid amounts and such recovered amounts (the “Specified Priority Amount”) shall be distributed pro rata among the Specified Series 2 Holders on the basis that is contemplated under Section 3.05(a) hereof; provided that any claims of such Specified Series 2 Holders that remain undischarged following such distribution shall share equally and ratably under Section 6.06(b) with all other claims of the Holders. This Section 6.16 shall constitute an intercreditor and subordination agreement among the Holders and is enforceable among the Holders regardless of any insolvency or bankruptcy proceeding of the Company or any of its Subsidiaries.
Priority Amount. (a) The maximum prospective liability secured by this document for the purpose of fixing priorities under section 282 of the Corporations Law but for no other purpose is $9,000,000.
(b) This document secures the payment of all prospective liabilities from time to time of Nord Australex to the Chargee comprising the Secured Money and the amount secured is not limited to the amount referred to in clause 3.3(a).
Priority Amount. (a) The maximum prospective liability secured by this document for the purpose of fixing priorities under section 282 of the Corporations Law but for no other purpose is $9,000,000.
(b) This document secures the payment of all prospective liabilities from time to time of Nord Australex to the Mortgagee comprising the Secured Money and the amount secured is not limited to the amount referred to in clause 3.3(a). 4 PAYMENT OF SECURED MONEY
4.1 Place, manner and time of payment Nord Australex, subject to clause 12.2, shall pay the Secured Money to the Mortgagee in accordance with any agreement which obliges Nord Australex to pay it and in the absence of agreement:
(a) upon demand and at a place and in a manner reasonably required by the Mortgagee;
(b) by 11.00 a.m. local time in the place where payment is to be made; and
Priority Amount. 5.1 The liabilities secured by this deed include, without limitation, all prospective liabilities denoted in the definition of ‘Secured Money’ and the maximum prospective liability secured by this deed is the Priority Amount.
5.2 This clause and the Priority Amount:
(a) apply only for the purpose of fixing priority, under sub-section 282(3) of the Corporations Act, between this deed and any other Encumbrance at any time created or subsisting over the Charged Property; and
(b) do not affect or delimit in any way any obligation of the Chargor under this deed including, without limitation, its obligation to pay and discharge the Secured Money in full.
Priority Amount. For the purpose of fixing priorities between this document and any subsequent charge registered under the Corporations Act and for no other purpose, this document secures a prospective liability up to a maximum amount of $16,000,000. This document may also secure prospective liabilities in excess of this maximum amount.
Priority Amount. For the purpose only of fixing priorities in accordance with section 282 of the Corporations Act between this charge and any other charge given by the Chargor the maximum prospective liability secured by this charge is the amount set out in item 3 of schedule 1. This amount may be increased at any time by the Chargee lodging a notice to that effect in accordance with the Corporations Act.
Priority Amount. Sellers agree that the “Priority Amount” under the Eagle LLC Limited Liability Company Agreement shall be $1,250,000 and that, upon payment of the SBN Eagle Allocated Adjusted Purchase Price Closing Amount as provided in this Agreement, the Priority Amount will have been paid in full.
Priority Amount. The Class A-6/A-7 Priority Amount for any Distribution Date is an amount equal to the least of (a) the Senior Principal Distribution Amount, (b) the aggregate Certificate Principal Balance of the Class A-6 and Class A-7 Certificates and (c) an amount equal to the product of (i) the Senior Principal Distribution Amount, (ii) the Class A-6/A-7 Priority Percentage for such Distribution Date and (iii) the Shift Percentage.
Priority Amount. On each Reservation Date, Founder shall have the right (the “Capital Priority Right”) to reserve up to the Priority Amount for its activities pursuant to the Program Documents during the following Reservation Period. At least 10 business days prior to each Reservation Date, the Company shall inform Founder in writing of the Priority Amount for the following Reservation Period, along with an accounting of how the Priority Amount was calculated. On or prior to the applicable Reservation Date, Founder shall advise the Company in writing of (i) whether Founder intends to exercise its Capital Priority Right and (ii) how much of the Priority Amount Founder intends to use for its activities pursuant to the Program Documents during the Reservation Period (such amount, the “Reserved Priority Amount”). The Company shall allocate the Reserved Priority Amount solely for use by Founder Parties until the following Reservation Date. The amount by which the Reserved Priority Amount at a Reservation Date is less than the full Priority Amount at that Reservation Date will be Lost Priority Amount and will not be subject to the Capital Priority Right.
