Examples of Credit Facility Priority Collateral in a sentence
Such Credit Facility Priority Collateral and such proceeds will be delivered without recourse and without any representation or warranty whatsoever as to the enforceability, perfection, priority or sufficiency of any Lien securing or guarantee or other supporting obligation for any Credit Facility Claim, together with any necessary endorsements.
Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of the Credit Facility Priority Collateral upon foreclosure, to incur expenses in connection with such sale or disposition, and to exercise all the rights and remedies of a secured lender under the Uniform Commercial Code and under the comparable law of any applicable jurisdiction and of a secured creditor under Bankruptcy Laws of any applicable jurisdiction.
Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the Credit Facility Agent or the Credit Facility Claim Holders may have with respect to the Credit Facility Priority Collateral.
The Indenture Agent and such foreclosure purchaser (or its transferee or successor) shall not otherwise be contractually required to remove, insure, protect, store, safeguard, sell or deliver any Credit Facility Priority Collateral or to provide any support, assistance or cooperation to the Credit Facility Agent in respect thereof.
The Intercreditor Agreement provides that the Prepetition ABL Facility is secured by (i) a lien on the Credit Facility Priority Collateral that is contractually senior to the lien on the Credit Facility Priority Collateral that secures the Prepetition Notes and (ii) a lien on the Notes Priority Collateral that is contractually subordinated to the lien on the Note Priority Collateral that secures the Prepetition Notes, in each case subject to certain permitted liens.
No Priority Lien Representative and no foreclosure purchaser (or its transferee or successor) shall otherwise be required to remove, insure, protect, store, safeguard, sell or deliver any Credit Facility Priority Collateral or to provide any support, assistance or cooperation to the Credit Facility Agent in respect thereof.
The Prepetition ABL Facility contained a $15 million permitted over-advance to provide a borrowing base of $60 million, the value of which was supported by Credit Facility Priority Collateral.
In the event any Priority Lien Secured Party becomes a judgment Lien creditor in respect of Credit Facility Priority Collateral as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subordinated to the Liens securing Credit Facility Claims on the same basis as the other Liens securing the Priority Lien Obligations are so subordinated to such Credit Facility Claims under this Agreement.
Notwithstanding the foregoing, the provisions of this paragraph 5(i) shall not apply to Excluded Accounts or, until the date upon which the Discharge of Credit Facility Obligations has occurred, any Collateral consisting of Credit Facility Priority Collateral.
A Borrowing Base Certificate using the most recent valuations available in accordance with Section 5.12 (including pursuant to Section 5.12(a)(ii)(C)) and including only Portfolio Investments that have been designated as Credit Facility Priority Collateral (as defined in the Security Agreement) and evidencing compliance as of a date not more than five days prior to the Amendment No. 1 Effective Date.