Acceptable Junior Priority Intercreditor Agreement definition

Acceptable Junior Priority Intercreditor Agreement means, with respect to any Indebtedness secured by a Lien on the Collateral intended to rank junior in priority to the Liens on the Collateral securing the Secured Notes Obligations, a customary intercreditor agreement to which the Controlling Collateral Agent is party and in form and substance reasonably acceptable to the Controlling Collateral Agent and the Issuer, without consent from any Holder, which agreement shall provide that the Liens on the Collateral securing such Junior Priority Obligations shall rank junior in priority to the Liens on the Collateral securing the Secured Notes Obligations.
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Acceptable Junior Priority Intercreditor Agreement means, with respect to any Indebtedness secured by a Lien that is junior in priority on specified Collateral, an intercreditor agreement, in form and substance reasonably satisfactory to the Controlling Collateral Agent and the Issuer, that contains terms and conditions that are within the range of terms and conditions customary for intercreditor agreements that are of the type that govern intercreditor relationships between holders of senior secured Indebtedness and holders of the same type of Indebtedness as such Indebtedness.
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Acceptable Junior Priority Intercreditor Agreement means, with respect to any Indebtedness secured by a Lien that is junior in priority on specified Collateral, an intercreditor agreement, in form and substance reasonably satisfactory to the Controlling Collateral Agent and the Issuer, that contains terms and conditions that are within the range of terms and conditions customary for intercreditor agreements that are of the type that govern intercreditor relationships between holders of senior secured Indebtedness and holders of the same type of Indebtedness as such Indebtedness.
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Examples of Acceptable Junior Priority Intercreditor Agreement in a sentence

  • This Indenture, the Notes, the Note Guarantees, the Equal Priority Intercreditor Agreement, any Junior Priority Intercreditor Agreement or Acceptable Junior Priority Intercreditor Agreement will be governed by, and construed in accordance, with the laws of the State of New York.

  • No director, officer, employee, incorporator or stockholder of the Company or any Subsidiary Guarantor shall have any liability for any obligations of the Company or any Subsidiary Guarantor under the Securities, any Subsidiary Guarantee, this Indenture, the Equal Priority Intercreditor Agreement, any Acceptable Junior Priority Intercreditor Agreement or any Security Document or for any claim based on, in respect of, or by reason of such obligations or their creation.

  • This Indenture, the Securities, the Equal Priority Intercreditor Agreement and any Acceptable Junior Priority Intercreditor Agreement shall be governed by, and construed in accordance with, the laws of the State of New York.