Second Lien Debt Documents Clause Samples

The 'Second Lien Debt Documents' clause defines and governs the terms and conditions applicable to debt that is secured by a second-priority lien on the borrower's assets, ranking behind the first lien debt. This clause typically outlines what constitutes second lien debt, the rights and obligations of second lien lenders, and the relationship between first and second lien holders, often referencing intercreditor agreements. Its core practical function is to clearly distinguish the hierarchy of creditor claims on collateral, thereby reducing disputes and ensuring all parties understand their respective positions in the event of default or liquidation.
Second Lien Debt Documents. There shall occur an “Event of Default” (or any comparable term) under, and as defined in, the Second Lien Debt Documents.
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Second Lien Debt Documents. Promptly after the giving or receipt thereof, copies of any default notices given or received by any Loan Party or by any of its Subsidiaries pursuant to the terms of the Second Lien Loan Documents; Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto. Each notice pursuant to Section 5.02(a) shall describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached.
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Second Lien Debt Documents. The making of such Loan or the issuance of such Letter of Credit shall not contravene, violate or result in a default under the Second Lien Debt Documents.
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Second Lien Debt Documents any and all agreements, instruments and other documents pursuant to which the Second Lien Debt has been or will be issued or otherwise setting forth the terms of the Second Lien Debt, including the Second Lien Security Documents, any guaranty agreements, bank product agreements or hedging agreements related thereto, all ancillary agreements as to which the Second Lien Agent or any lender is a party or a beneficiary and all other agreements, instruments, documents and certificates executed in connection with any of the foregoing, in each case as such agreement, instrument or other document may be amended, restated, supplemented, refunded, replaced or otherwise modified from time to time in accordance with the terms thereof, but only to the extent permitted under the terms of the Loan Documents. Second Lien Debt Loan Agreement – that certain loan and security agreement, dated as of the date hereof, as amended, restated, supplemented, refunded, replaced or otherwise modified from time to time to the extent permitted under the terms of the Loan Documents, by and among (i) NES Rentals Holdings, Inc., as borrower, (ii) certain subsidiaries of NES Rentals Holdings, Inc., as guarantors, (iii) the financial institutions party thereto from time to time as lenders, (iv) Bear, ▇▇▇▇▇▇▇ & Co. Inc. as syndication agent and (v) Bank of America, N.A. as administrative agent. Second Lien Debt Payment – as defined in subsection 8.2.6(iii) of the Agreement. Second Lien Debt Security Documents - all security agreements, pledge agreements, collateral assignments, mortgages, collateral agency agreements, control agreements, deeds of trust or other grants or transfers for security executed and delivered by any Borrower or any Subsidiary of any Borrower or any guarantor of the Second Lien Debt creating (or purporting to create) a Lien upon any assets or properties of such Person in favor of the Second Lien Debt Agent or the Administrative Agent, as applicable, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with its terms, but only to the extent permitted under the terms of the Loan Documents. Security - all shares of stock, partnership interests, membership interests, membership units or other ownership interests in any other Person and all warrants, options or other rights to acquire the same and, for purposes only of Sections 5 and 6 and the Security Documents, shall include any other “Security” (as define...
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Second Lien Debt Documents. Term Loan Agreement dated as of the date hereof, among the Borrower, certain of its Subsidiaries, the Second Lien Agent and lenders from time to time party thereto (the “Second Lien Term Loan Agreement”) and the “Loan Documents” as defined therein.
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Second Lien Debt Documents. The Borrower shall deliver to the Administrative Agent and the Lead Lenders a true and correct copy of the First/Second Lien Intercreditor Agreement, the Second Lien Credit Agreement and each other Second Lien Debt Document, in each case, in the same form as such documents are attached hereto as Exhibit B.
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Related to Second Lien Debt Documents

  • Facility Documents The Facility Documents, duly executed by the parties thereto;

  • Financing Documents The CAC Credit Facility Documents, the ▇▇▇▇▇ Fargo Warehouse Documents, the Fifth Third Warehouse Documents, the Flagstar Warehouse Documents, the BMO Warehouse Documents, the Credit Suisse Warehouse Documents, the 2018-3 Securitization Documents, the 2018-2 Securitization Documents, the 2018-1 Securitization Documents, the 2017-3 Securitization Documents, the 2017-2 Securitization Documents, the 2017-1 Securitization Documents, the 2016-3 Securitization Documents, the 2016-2 Securitization Documents, the 2016-1 Securitization Documents and the 2015-2 Securitization Documents.

  • Note Documents Receipt by the Purchasers of executed counterparts of this Agreement and the other Note Documents, each properly executed by a Responsible Officer of the signing Note Party and each other party to such Note Documents, in each case in form and substance satisfactory to the Purchasers.

  • Credit Agreement; Loan Documents This Agreement or counterparts hereof shall have been duly executed by, and delivered to, Borrowers, each other Credit Party, Agent and Lenders; and Agent shall have received such documents, instruments, agreements and legal opinions as Agent shall reasonably request in connection with the transactions contemplated by this Agreement and the other Loan Documents, including all those listed in the Closing Checklist attached hereto as Annex D, each in form and substance reasonably satisfactory to Agent.

  • Priority Debt The Company will not permit Priority Debt to exceed 15% of Consolidated Total Assets (as of the end of the Company’s then most recently completed fiscal quarter) at any time.