Common use of Second Priority Payments Clause in Contracts

Second Priority Payments. Premium Payments shall be deemed “Second Priority Payments.” Second Priority Payments may not be distributed unless and until the District Court determines that all other Allowed and allowable Claims, including Claims subject to resolution under the terms of the Litigation Facility Agreement, have either been paid or adequate provision has been made to assure such payments.

Second Priority Payments. Premium Payments shall be deemed “Second Priority Payments.” Second Priority Premium Payments may not be distributed unless and until the District Court determines that all other Allowed and allowable Claims, including Claims subject to resolution under the terms of the Litigation Facility Agreement, have either been paid or adequate provision has been made to assure such payments.