Bank Group Obligations definition

Bank Group Obligations has the meaning set forth in the Senior Priority Lien Intercreditor Agreement.
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Bank Group Obligations shall have the same meaning as is assigned to the term “Obligations”, as such term is defined in the Bank Group Credit Agreement. In addition, to the extent any payment with respect to any Bank Group Obligation (whether by or on behalf of the Borrower or any of its subsidiaries, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, trustee, the Sponsor, receiver or similar Person, then the Bank Group Obligations or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the Sponsor and the Bank Group Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.
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Bank Group Obligations means (a) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made pursuant to the Bank Group Agreement, (b) all reimbursement obligations (if any), interest thereon (including without limitation any Post- Petition Interest) and obligations to post cash collateral with respect to any letter of credit or similar instruments issued pursuant to the Bank Group Agreement, (c) all “Swap Obligations” (as defined in the Existing Bank Group Agreement or any other Bank Group Document), (d) all Bank Group Cash Management Obligations, (e) all guarantee obligations, indemnification obligations, fees, expenses and other amounts payable from time to time pursuant to the Bank Group Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding and (f) all other Secured Obligations (as defined in the Existing Bank Group Agreement or any other Bank Group Document). To the extent any payment with respect to any Bank Group Obligation (whether by or on behalf of any Bank Group Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession or trustee, any Pension Fund Secured Party, any Convertible Note Secured Party, any receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the Bank Group Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred. For the avoidance of doubt, no Excess Obligations shall be Bank Group Obligations.
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Examples of Bank Group Obligations in a sentence

  • This Agreement shall terminate and be of no further force and effect, subject to Section 5.03 hereof, upon the earlier to occur of (i) the date of the Discharge of Bank Group Obligations and (ii) the date of the Discharge of Sponsor Facility Obligations.

  • Nothing in this Agreement is intended to or shall impair the obligations of the Borrower, which are absolute and unconditional, to pay the Sponsor Facility Obligations and the Bank Group Obligations as and when the same shall become due and payable in accordance with their terms.

  • These Securities and the Guarantees will be secured by a Lien and security interest in the Collateral on a Lien priority basis directly after, and immediately following, the Lien securing the Bank Group Obligations (and will be subject only to Permitted Liens) and will be of equal ranking with the Lien securing the Other Securities and related obligations, the foregoing pursuant to and in accordance with the terms of the Indenture, the Intercreditor Agreements and other applicable Collateral Documents.

  • The Continuing NB Obligations shall continue to be secured by the same Collateral which currently secures the NB Obligations and shall also be secured by the same Collateral (other than the Released Collateral) which currently secures the Bank Group Obligations.

  • If the jurisdictional agency cannot be contacted by the responding agency, suppression action will be continued by the responding agency with suppression costs reimbursed by the jurisdictional agency for suppression action taken.

  • This Agreement sets forth the understandings and agreements by and among the Borrowers and the Lenders regarding the discounted payments with respect to the Bank Group Obligations and the NB Obligations, the restructuring of a portion of the Bank Group Obligations owing to NationsBank and a portion of the NB Obligations and the additional joint and several liability and collateral security for the NB Obligations.

  • The Liens on the Collateral securing the Secured Obligations are subordinated to the Liens on such Collateral securing the Bank Group Obligations, and the Liens on certain of the Collateral securing the Secured Obligations are also subordinated to certain Liens on certain of such Collateral securing the Pension Fund Obligations, in each case in the manner and to the extent provided in the Intercreditor Agreement.

  • An unconditional release executed by Northern Trust (and all lenders under the Northern Trust Loan Documents) in connection with the Northern Trust Assignment Agreement (upon which the Administrative Agent shall be entitled to rely) releasing the Loan Parties from all Northern Trust Bank Group Obligations and all other claims by Northern Trust and all lenders under the Northern Trust Loan Documents.

  • This Agreement shall continue to be effective, and shall not be revocable by any party hereto, until the latest to occur of (i) Bank Group Obligations Payment Date, (ii) the date on which all of the outstanding Convertible Note Obligations shall have been Paid in Full and (iii) the date on which all of the outstanding Pension Fund Obligations shall have been Paid in Full.

  • The lien priorities provided in Section 2.1 shall not be altered or otherwise affected by any such amendment, modification, supplement, extension, repayment, reborrowing, increase, replacement, renewal, restatement or refinancing of any of the Bank Group Obligations, the Convertible Note Obligations, the Pension Fund Obligations or any portion thereof.


More Definitions of Bank Group Obligations

Bank Group Obligations has the meaning given such term in the Intercreditor Agreement.
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Bank Group Obligations means (a) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made pursuant to the Bank Group Agreement, (b) all reimbursement obligations (if any), interest thereon (including without limitation any Post-Petition Interest) and obligations to post cash collateral with respect to any letter of credit or similar instruments issued pursuant to the Bank Group Agreement, (c) all “Swap Obligations” (as defined in the Existing Bank Group Agreement or any other Bank Group Document), (d) all Bank Group Cash Management Obligations, (e) all guarantee obligations, indemnification obligations, fees, expenses and other amounts payable from time to time pursuant to the Bank Group Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding and (f) all other Secured Obligations (as defined in the Existing Bank Group Agreement or any other Bank Group Document). To the extent any payment with respect to any Bank Group Obligation (whether by or on behalf of any Bank Group Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession or trustee, any Pension Fund Secured Party, any Convertible Note Secured Party, any receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the Bank Group Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred. For the avoidance of doubt, no Excess Obligations shall be Bank Group Obligations.
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Related to Bank Group Obligations

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • Secured Swap Obligations means all amounts and other obligations owing to any Secured Swap Party under any Secured Swap Agreement (other than Excluded Swap Obligations).

  • Swap Obligations means with respect to any Guarantor any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act.

  • Bank Products Obligations of any Person means the obligations of such Person pursuant to any Bank Products Agreement.

  • Canadian Obligations means the Obligations owing by the Canadian Borrower.

  • U.S. Obligations means non-redeemable securities evidencing an obligation to timely pay principal and/or interest in a full and timely manner that are direct obligations of the United States of America for the payment of which its full faith and credit is pledged.

  • Hedging Liabilities means the Liabilities owed by any Debtor to the Hedge Counterparties under or in connection with the Hedging Agreements.

  • Permitted Swap Obligations means all obligations (contingent or otherwise) of any Borrower or any Restricted Subsidiary existing or arising under Swap Contracts, provided that such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with liabilities, commitments or assets held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person in conjunction with a securities repurchase program not otherwise prohibited hereunder, and not for purposes of speculation or taking a “market view”.

  • Relevant Obligations means the Obligations constituting Bonds and Loans of the Reference Entity outstanding immediately prior to the effective date of the Succession Event, excluding any debt obligations outstanding between the Reference Entity and any of its Affiliates, as determined by the Calculation Agent. The Calculation Agent will determine the entity which succeeds to such Relevant Obligations on the basis of the Best Available Information. If the date on which the Best Available Information becomes available or is filed precedes the legally effective date of the relevant Succession Event, any assumptions as to the allocation of obligations between or among entities contained in the Best Available Information will be deemed to have been fulfilled as of the legally effective date of the Succession Event, whether or not this is in fact the case.

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • Cross-Collateralized Group Any group of Mortgage Loans that are cross-collateralized and cross-defaulted with each other; provided that a Mortgage Loan shall be part of a Cross-Collateralized Group only if and for so long as such Mortgage Loan is cross-collateralized and cross-defaulted with each other Mortgage Loan in such Cross-Collateralized Group. There are no Cross-Collateralized Groups included as assets of the Trust as of the Closing Date.

  • Credit Party Obligations means, without duplication, (a) all of the obligations of the Credit Parties to the Lenders (including the Issuing Lender) and the Administrative Agent, whenever arising, under this Credit Agreement, the Notes, or any of the other Credit Documents to which any Credit Party is a party and (b) all liabilities and obligations owing from such Credit Party to any Lender, or any Affiliate of a Lender, arising under Hedging Agreements.

  • Bank Product Obligations means all obligations, liabilities, contingent reimbursement obligations, fees, and expenses owing by a Company to Agent or any Lender (or an affiliate of a Lender) pursuant to or evidenced by the Bank Product Agreements.

  • Excluded Swap Obligations with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the Guarantee Obligation of such Guarantor with respect to, or the grant by such Guarantor of a Lien to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act at the time such Guarantee Obligation of such Guarantor, or the grant by such Guarantor of such Lien, becomes effective with respect to such Swap Obligation. If such a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guarantee Obligation or Lien is or becomes excluded in accordance with the first sentence of this definition.

  • Bank Obligations means all indebtedness, obligations and liabilities, whether now or hereafter arising, of the Borrowers to the Agent or any Bank pursuant to any of the Loan Documents.

  • Finance Obligations means, at any date, (i) all Senior Credit Obligations, (ii) all Swap Obligations of a Loan Party permitted hereunder owed or owing to any Swap Creditor and (iii) all Cash Management Obligations.

  • Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with any issue of trust certificates or other securities intended to be issued in compliance with the principles of Shari’a, whether or not in return for consideration of any kind;

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Hedge Obligations means any and all obligations or liabilities, whether absolute or contingent, due or to become due, now existing or hereafter arising, of each Loan Party and its Subsidiaries arising under, owing pursuant to, or existing in respect of Hedge Agreements entered into with one or more of the Hedge Providers.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Hedging Liability means the liability of the Borrower or any Subsidiary to any of the Lenders, or any Affiliates of such Lenders, in respect of any interest rate, foreign currency, and/or commodity swap, exchange, cap, collar, floor, forward, future or option agreement, or any other similar interest rate, currency or commodity hedging arrangement, as the Borrower or such Subsidiary, as the case may be, may from time to time enter into with any one or more of the Lenders party to this Agreement or their Affiliates.

  • Subordinated Obligations has the meaning specified in Section 7.05.

  • Overdraft Obligations means, with respect to any Portfolio, the amount of any outstanding Overdraft(s) provided by the Custodian to such Portfolio together with all accrued interest thereon.

  • Domestic Obligations means all Obligations owing by the Domestic Loan Parties (other than in respect of Guarantees of Foreign Obligations pursuant to Article IV).

  • Guarantor Subordinated Obligations means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Relevant Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of Islamic-compliant certificates, whether or not in return for consideration of any kind, which for the time being are, or are intended to be, or are capable of being, quoted, listed or ordinarily dealt in or traded on any stock exchange, over-the-counter or other securities market.