Applicable Secured Parties definition

Applicable Secured Parties means (a) the Majority Senior Priority Secured Parties or, (b) after the Discharge of Senior Priority Obligations or to the extent the Designated Second Priority Representative is permitted to enforce or require the enforcement of the Collateral prior to the Discharge of Senior Priority Obligations under Section 3.01, the Majority Second Priority Secured Parties, or (c) after the Discharge of Senior Priority Obligations and the Discharge of Second Priority Debt Obligations or to the extent the Designated Senior Subordinated Priority Representative is permitted to enforce or require the enforcement of the Collateral prior to the Discharge of Senior Priority Obligations and the Discharge of Second Priority Debt Obligations under Section 3.01, the Majority Senior Subordinated Priority Secured Parties.

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Applicable Secured Parties means, at any time with respect to any Shared Collateral, the Series of Pari Secured Parties whose Representative is the Applicable Representative with respect to such Shared Collateral.

Applicable Secured Parties means the First Priority Secured Parties only, in the case of Equity Interests Collateral, and the Secured Parties, in the case of Debt Securities Collateral, as the context requires.

Examples of Applicable Secured Parties in a sentence

The foregoing provisions are intended as an inducement to the [Applicable Secured Parties] to extend credit to the Parent Borrower and such [Applicable Secured Parties] are intended third-party beneficiaries of such provisions.
For the purposes of Section 10.03 and Section 10.04, the Applicable Designated Representative shall act (a) on the instructions of the Applicable Secured Parties or (b) in the absence of any such instructions, as the Applicable Designated Representative sees fit (which may include taking no action).
If a Noticed Event of Default shall occur and be continuing, the Collateral Agent, on behalf of the Applicable Secured Parties, may exercise, in addition to all other rights and remedies granted to it in this Agreement and in any other Secured Instrument, all rights and remedies of a secured party under the New York UCC or any other applicable law.
TO HAVE AND TO HOLD the Collateral, together with all right, title, interest, powers, privileges and preferences pertaining or incidental thereto, unto the Euro Collateral Agent, its successors and assigns, for the benefit of the Applicable Secured Parties, forever; subject, however, to the terms, covenants and conditions hereinafter set forth.
During the continuance of an Event of Default, the Collateral Agent will exercise its rights under this Agreement as it shall determine in its sole discretion or, to the extent it has received such directions, in compliance with instructions from the Applicable Secured Parties.

More Definitions of Applicable Secured Parties

Applicable Secured Parties means (i) prior to the First Priority Secured Obligations Termination Date, holders of a majority in aggregate principal amount of First Priority Secured Obligations (other than First Priority Secured Obligations under any Secured Hedging Agreement), (ii) from and after the First Priority Secured Obligations Termination Date until the Second Priority Secured Obligations Termination Date, holders of a majority in aggregate principal amount of Second Priority Secured Obligations and (iii) from and after the Second Priority Secured Obligations Termination Date, holders of a majority in aggregate principal amount of Secured Obligations under Secured Hedging Agreements.

Applicable Secured Parties means (a) with respect to the Revolving Collateral, the Revolving Secured Parties and (b) with respect to the Term Loan Collateral, the Term Loan Secured Parties.

Applicable Secured Parties means (x) with respect to the Notes Agent, the Noteholder Secured Parties (as defined in the Indenture), and (y) with respect to the ABL Agent, the ABL Secured Parties. Each Payor acknowledges and agrees that each of the Agents and the other Secured Parties may exercise all the rights of each Pledgor Payee under this Promissory Note and will not be subject to any abatement, reduction, recoupment, defense, setoff or counterclaim available to such Payor. Notwithstanding the foregoing or anything else contained herein, in no event shall the pledge of this Promissory Note by a US Loan Party described in clause (d) or (f) of the definition of Excluded Subsidiary (as defined in the ABL Credit Agreement) serve as security for the Notes Obligations or the portion of the ABL Obligations that constitute US Borrower Obligations.

Applicable Secured Parties means (a) with respect to the ABL Loan Documents, the ABL Secured Party and (b) with respect to the Term Loan Documents, the Term Loan Secured Party.

Applicable Secured Parties. (i) in the case of any Non-Shared Collateral (and any sums of money, certificates, dividends, payments, other property or Proceeds paid or distributed in respect of any Non-Shared Collateral), the Credit Secured Parties and (ii) in the case of any Shared Collateral (and any sums of money, certificates, dividends, payments, other property or Proceeds paid or distributed in respect of any Shared Collateral), the Secured Parties.

Applicable Secured Parties means the Secured Parties; provided that, as of the Maturity Date or the date of any expiration or termination of the Credit Agreement in accordance with its terms, so long as the Borrowers have either (i) jointly and severally paid to the Administrative Agent an amount equal to 105% of the Letter of Credit Exposure allocable to all Letters of Credit outstanding on such date, or (ii) provided the Issuing Bank with a substitute letter of credit naming the Issuing Bank as beneficiary, in form and substance and from a financial institution satisfactory to the Issuing Bank, with a face amount equal to 105% of the aggregate Letter of Credit Exposure allocable to such outstanding Letters of Credit on such date, or (iii) provided the Administrative Agent with any combination of the foregoing as the Administrative Agent shall have elected in its sole discretion, “Applicable Secured Parties” shall mean only the following Secured Parties: the Administrative Agent and the Issuing Bank.

Applicable Secured Parties means only the following Secured Parties: the Administrative Agent and the Issuing Bank.