Collateral Effective Date definition

Collateral Effective Date means, with respect to each Note Party, the first date on which the Liens and security interests in Collateral described in Section 9.15 are granted or purported to be granted by such Note Party to the Collateral Agent for the benefit of the holders of the Notes and the other creditors under the Transaction Facilities.

Collateral Effective Date means the first date (or, if a Collateral Release Date shall have occurred, the first date after such Collateral Release Date) of the public announcement upon which two of the three Ratings Agencies reduce the Debt Rating below BBB- or the equivalent, unless the Collateral Termination Date shall occur prior to such date (notwithstanding any reduction in the Debt Rating after the Collateral Termination Date).

Collateral Effective Date means any date that the senior unsecured long term debt securities of the Borrower without third party credit enhancement is rated Ba1 or worse by Xxxxx’x and BB+ or worse by S&P.

Examples of Collateral Effective Date in a sentence

• From and after the Collateral Effective Date, the Notes (in the case of the Company) and all other obligations under this Agreement and the other Financing Agreements of each Note Party will be and at all times thereafter shall remain direct and secured obligations of such Note Party ranking at least pari passu in right of payment with all secured Indebtedness outstanding under the Transaction Facilities and other secured Credit Agreements.

• Upon the occurrence of the Collateral Effective Date and during the ensuing Collateral Period, the Pledge Agreements shall be in full force and effect and the Collateral Agent, on behalf of the Lenders, shall have a Lien on the Collateral described in the Pledge Agreements and there shall be added to Section 1 a new representation and warranty in the form set forth on Schedule V attached hereto.

• On the Collateral Effective Date and at all times thereafter, Savia will cause the Required Collateral to be subjected to a perfected, first priority Lien created by the Collateral Documents for the benefit of the Creditors and the Agents.

• If any Obligor fails to perform any agreement or obligation contained herein on a timely basis, the Collateral Agent itself may, on and after the Collateral Effective Date, perform, or cause performance of, such agreement or obligation, and the expenses of the Collateral Agent incurred in connection therewith shall be payable by the Obligors on a joint and several basis pursuant to Section 11 hereof.

• Upon the occurrence and during the continuance of an Event of Default occurring simultaneously with or subsequent to the Collateral Effective Date, the Collateral Agent may, after providing the notices required by Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction accept or, to the extent the Collateral Agent is in possession of any of the Collateral, retain the Collateral in satisfaction of the Secured Obligations.

More Definitions of Collateral Effective Date

Collateral Effective Date a date subsequent to the Closing Date on which the Index Debt is rated worse than BB+ by S&P or rated worse than Ba1 by Moodx'x.

Collateral Effective Date shall have the meaning set forth in the Second Omnibus Amendment.

Collateral Effective Date means the date on which there shall --------------------------- occur an Event of Default pursuant to which the Administrative Agent or the Required Lenders have decided to exercise any rights or remedies hereunder or under the Existing Pledge Agreement in respect of the Pledged Collateral.

Collateral Effective Date means the first date upon which (i) the quotient of (a) the aggregate principal amount as of such date of (x) all outstanding Loans and (y) all outstanding L/C Obligations divided by (b) the Aggregate Revolving Credit Commitment as of such date is greater than or equal to 50% and (ii) the ratio of (a) Total Debt as of such date to (b) EBITDA (measured for the period of four (4) consecutive fiscal quarters ending as of the last day of the most recently ended fiscal quarter for which the Administrative Agent has received the financial statements and Officer's Compliance Certificate required to be delivered pursuant to Section 7.1(a) or (b) and Section 7.2 of the Credit Agreement, as appropriate) is greater than 4.25 to 1.0; provided that, for purposes of calculating the ratio of Total Debt to EBITDA as contemplated by clause (ii)(b) above and in any Officer's Compliance Certificate, EBITDA for any period during which Historical JS Industrial Packaging Group EBITDA is applicable shall be calculated after giving effect to the JS Industrial Packaging Group Acquisition as if such acquisition were consummated on the first day of such period and so as to include Historical JS Industrial Packaging Group EBITDA for such period. Notwithstanding anything to the contrary contained herein, the definition of "Collateral Effective Date" may not be amended, modified, changed, discharged or terminated in a manner materially adverse to the Lenders except with the prior written consent of all of the Lenders.

Collateral Effective Date as set forth in Section 1.1 of the Credit Agreement may not be amended, modified, changed, discharged or terminated in a manner adverse to the Secured Parties except with the prior written consent of each Secured Party.

Collateral Effective Date means the date of which Bank has received, reviewed and approved the real estate due diligence items referred to in Section D of the Commitment Letter.

Collateral Effective Date means (a) a Real Estate Collateral Effective Date or (b) a Stock Collateral Effective Date.