ABL Priority Collateral definition
ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.
ABL Priority Collateral means the “ABL Priority Collateral” under and as defined in the ABL Intercreditor Agreement.
ABL Priority Collateral means all Collateral consisting of the following:
Examples of ABL Priority Collateral in a sentence
The obligations of the Company and the Guarantors to the Purchasers under the Senior Notes shall be secured by (a) a first-priority lien, subject to Permitted Liens, in the Notes Priority Collateral and (b) perfected, second priority security interests (subject to Permitted Liens) in the ABL Priority Collateral.
The Notes and the Guarantees will be secured by first-priority Liens and security interests on the Notes Priority Collateral and by second-priority Liens and security interests on the ABL Priority Collateral subject to the terms and conditions set forth in the Indenture, the Security Documents and the Intercreditor Agreements.
More Definitions of ABL Priority Collateral
ABL Priority Collateral shall have the meaning assigned to such term in the ABL/Term Loan Intercreditor Agreement.
ABL Priority Collateral means all now-owned or hereafter acquired ABL Collateral that constitutes:
ABL Priority Collateral means all Collateral consisting of the following (including for the avoidance of doubt, any such assets that, but for the application of Section 552 of the Bankruptcy Code (or any similar provision of any foreign Debtor Relief Laws), would be ABL Priority Collateral):
ABL Priority Collateral as defined in the ABL/Term Loan Intercreditor Agreement whether or not the same remains in full force and effect.
ABL Priority Collateral means “ABL Priority Collateral” as defined in the Intercreditor Agreement.
ABL Priority Collateral means the following of any Grantor: (i) Accounts and chattel paper, in each case other than to the extent constituting identifiable proceeds of Notes Priority Collateral; (ii) deposit accounts, securities accounts and commodity accounts (and all cash, checks and other negotiable instruments, funds, securities, commodity contracts and other evidences of payment or other assets held therein) (but, in any event, excluding the Revenue Account (which will be used, among other things, for deposit of identifiable proceeds of Notes Priority Collateral), other Fixed Asset Accounts and the Fixed Asset Collateral Proceeds Account); (iii) all Inventory; (iv) to the extent evidencing, governing, securing or otherwise reasonably related to any of the foregoing, all documents, general intangibles, instruments, commercial tort claims, letters of credit, letter-of-credit rights and supporting obligations; provided, however, that to the extent any of the foregoing also evidence, govern, secure or otherwise reasonably relate to any Notes Priority Collateral only that portion that evidences, governs, secures or reasonably relates to ABL Priority Collateral shall constitute ABL Priority Collateral; provided, further, that the foregoing shall not include any intellectual property; (v) all books, records and documents related to the foregoing (including databases, customer lists and other records, whether tangible or electronic, which contain any information relating to any of the foregoing); (vi) insurance and claims against third parties to the extent arising on account of ABL Priority Collateral and all of the proceeds of and payments under all policies of business interruption insurance; and (vii) all proceeds and products of any or all of the foregoing in whatever form received, but excluding any property that is directly acquired prior to the commencement of any case or proceeding under the Bankruptcy Code or any similar Bankruptcy Law with cash proceeds of any ABL Priority Collateral and does not otherwise constitute ABL Priority Collateral upon its acquisition. Subject to certain provisions of the Intercreditor Agreement, upon a Discharge of Fixed Asset Pari Passu Lien Obligations, all Notes Priority Collateral shall become ABL Priority Collateral.
ABL Priority Collateral has the meaning specified in the ABL Intercreditor Agreement.