Applicable Intercreditor Agreement definition

Applicable Intercreditor Agreement means (a) to the extent executed in connection with any incurrence of Indebtedness secured by Liens on the Collateral that (i) are intended to rank equal in priority to the Liens on the ABL Priority Collateral securing the ABL Obligations and (ii) are intended to rank junior in priority to the Liens on the Term Priority Collateral securing the Obligations, the ABL Intercreditor Agreement, (b) to the extent executed in connection with any incurrence of Indebtedness secured by Liens on the Collateral that are intended to rank equal in priority to the Liens on the Collateral securing the Obligations (but without regard to control of remedies), each of the ABL Intercreditor Agreement and the Term Intercreditor Agreement, (c) to the extent executed in connection with the incurrence of Indebtedness secured by Liens on the Collateral which are intended to rank equal in priority to the Liens on the Collateral securing the Junior Priority Debt Obligations (as defined in the Term Intercreditor Agreement), the Term Intercreditor Agreement and the ABL Intercreditor Agreement and (d) to the extent executed in connection with any incurrence of Indebtedness secured by Liens on the Collateral that are intended to rank junior in priority to the Liens securing the Obligations and the Junior Priority Debt Obligations, a customary intercreditor agreement in form and substance reasonably acceptable to the Administrative Agent and the Borrower, which agreement shall provide that the Liens on the Collateral securing such Indebtedness shall rank junior to the Liens on the Collateral securing the Obligations and the Junior Priority Debt Obligations (as defined in the Term Intercreditor Agreement).

Applicable Intercreditor Agreement means (a) in the case of Collateral, an ABL Intercreditor Agreement, and (b) otherwise, any Additional Agreement.

Applicable Intercreditor Agreement means (a) with respect to a First Lien Obligation, the Intercreditor Agreement; (b) with respect to an Other Pari Passu Obligation, the Pari Passu Intercreditor Agreement; and (c) with respect to Indebtedness that is secured by a junior priority lien, a Junior Priority Intercreditor Agreement.

Examples of Applicable Intercreditor Agreement in a sentence

• Each Secured Party (a) hereby agrees that it will be bound by and will take no actions contrary to the provisions of any such Applicable Intercreditor Agreement and (b) hereby authorizes and instructs the Collateral Agent and the Administrative Agent to enter into any such Applicable Intercreditor Agreement and to subject the Liens on the Collateral securing the Obligations to the provisions thereof.

• Each of the Collateral Agent and the Administrative Agent is hereby authorized to enter into any Applicable Intercreditor Agreement contemplated hereby, and the parties hereto acknowledge that any such Applicable Intercreditor Agreement to which the Collateral Agent and/or the Administrative Agent is a party are each binding upon them.

• Neither the Administrative Agent nor the Collateral Agent shall amend or waive any provision of an Applicable Intercreditor Agreement (other than to cure ambiguities, omissions, mistakes or defects or to add other parties thereto (to the extent contemplated by Section 7.01)) without the written consent of the Required Lenders.

• Except to the extent otherwise permitted to be retained by such Grantor or applied by such Grantor pursuant to the terms of the Credit Agreement and any Applicable Intercreditor Agreement, the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured Parties, apply such proceeds in accordance with Section 5.4 hereof.

• Subject to any Applicable Intercreditor Agreement, without notice to or assent by any Grantor, the Collateral Agent may, upon the occurrence and during the continuance of an Event of Default, apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account toward the payment of the Obligations in the manner provided in Section 5.4 of this Agreement.

More Definitions of Applicable Intercreditor Agreement

Applicable Intercreditor Agreement means the Intercreditor Agreement, Other Intercreditor Agreement or Secured Other Letters of Credit Intercreditor Agreement, as applicable.

Applicable Intercreditor Agreement a First Lien Intercreditor Agreement or a Junior Lien Intercreditor Agreement, as applicable.

Applicable Intercreditor Agreement means (a) to the extent executed in connection with the incurrence of Indebtedness secured by Liens on the Collateral which rank (or are intended to rank) equal in priority (but without regard to the control of remedies) to the Liens on the Collateral securing the Obligations, a customary intercreditor agreement in form and substance reasonably acceptable to the Administrative Agent and/or the Collateral Agent and the Borrower, which agreement shall provide that the Liens on the Collateral securing such Indebtedness and related obligations shall rank equal in priority (but without regard to the control of remedies) to the Liens on the Collateral securing the Obligations and (b) to the extent executed in connection with the incurrence of Indebtedness secured by Liens on the Collateral which rank (or are intended to rank) junior to the Liens on the Collateral securing the Obligations, a customary intercreditor agreement in form and substance reasonably acceptable to the Administrative Agent and/or the Collateral Agent and the Borrower, which agreement shall provide that the Liens on the Collateral securing such Indebtedness shall rank junior to the Liens on the Collateral securing the Obligations.

Applicable Intercreditor Agreement means the Intercreditor Agreement, any Pari Passu Intercreditor Agreement, any Additional Junior Lien Intercreditor Agreement and any other intercreditor agreement or subordination agreement contemplated hereby and to which the Administrative Agent is a party.

Applicable Intercreditor Agreement means a First Lien Intercreditor Agreement or a Junior Lien Intercreditor Agreement, as applicable.

Applicable Intercreditor Agreement means, at any time of determination and solely to the extent then in effect, the Junior Lien Intercreditor Agreement and/or the Split-Priority Intercreditor Agreement.

Applicable Intercreditor Agreement means (a) the ABL Intercreditor Agreement, (b) with respect to debt that is secured on a pari passu basis with the Obligations hereunder, an intercreditor agreement substantially in the form attached hereto as Exhibit H-2, or (c) with respect to Indebtedness that is subordinated to the Obligations hereunder or secured by a Lien that is subordinated to the Liens securing the Obligations hereunder (excluding Indebtedness under the ABL Loan Documents), an intercreditor agreement reasonably satisfactory to Administrative Agent.