Deed of Proceeds and Priorities definition

Deed of Proceeds and Priorities means the deed entitled "Trust Deed and Deed of Proceeds and Priorities" dated 28 January 2002 and made between (1) the Syndicate Banks, (2) the Arrangers, (3) the Facility Agent, (4) the Technical Bank, (5) the General Security Trustee, (6) the Credit Security Trustee, (7) the Facility Security Trustee, (8) Bluewater Holding B.V., Bluewater Energy Services B.V., Bluewater Offshore Production Systems Limited, Bluewater (Haewene Brim) N.V., Bluewater (Munin) N.V., Ranberger Holding N.V., Luludia Asset Finance B.V. and Xxxxxxx B.V. as borrowers and security parties, (9) Xxxxxxx Energy N.V., Bluewater (Haewene Brim) N.V., Bluewater (Floating Production) Limited, Bluewater (Glas Dowr) N.V., Bluewater (Malta) Limited, Bluewater (New Hull) N.V., Bluewater (UK) Limited, Bluewater Energy N.V., Bluewater Haewene Brim Equipment Leasing Limited, Bluewater Offshore Production Systems N.V., Bluewater Operations (UK) Limited, Bluewater Terminal Systems N.V., Bluewater Norway A.S., Lufeng Development Company ANS, Xxxxxx Production Company Limited, Bluewater Brasil LTDA., Bluewater Floating Productions B.V., Bluewater International B.V., Bluewater Offshore Production Systems Nigeria Limited, Bluewater Offshore Production Systems (USA) Inc., Bluewater Services (UK) Limited and Haewene Brim Standby Purchaser N.V. as guarantors and security parties; (10) the Bluewater Agent, (11) the Lessor, (12) the Standby Purchasers, (13) ING Bank N.V., acting through its Amsterdam head office as Haewene Brim Equipment account bank, and (14) ING Bank N.V., acting through its Amsterdam head office as security trustee account bank;
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Deed of Proceeds and Priorities means the trust deed and deed of proceeds and priorities dated 28 January 2003 between (1) the banks and financial institutions listed in schedule 1 thereto, (2) Barclays Bank PLC, acting through its investment banking division, Barclays Capital, as arranger, (3) Fortis Bank (Nederland) N.V., as arranger, (4) ING Bank N.V., as arranger, (5) ING Bank N.V., as facility agent, (6) Barclays Bank PLC, acting through its investment banking division, Barclays Capital, as technical bank, (7) Barclays Bank PLC, as general security trustee, (8) Barclays Bank PLC, as credit security trustee, (9) Barclays Bank PLC, as facility security trustee, (10) Bluewater Holding B.V., Bluewater Energy Services B.V., Bluewater Offshore Production Systems Limited, Bluewater (Haewene Brim) N.V., Bluewater (Munin) N.V., Ranberger Holding N.V., Luludia Asset Finance B.V. and Xxxxxxx B.V., as borrowers and security parties, (11) Xxxxxxx Energy N.V., Bluewater (Bleo Xxxx) N.V., Bluewater (Floating Production) Limited, Bluewater (Glas Dowr) N.V., Bluewater (Malta) Limited, Bluewater (New Hull) N.V., Bluewater (UK) Limited, Bluewater Energy N.V., Bluewater Equipment Leasing Limited, Bluewater Offshore Productions Systems N.V., Bluewater Operations (UK) Limited, Bluewater Terminal Systems N.V., Bluewater Norway ANS, Lufeng Development Company ANS, Xxxxxx Production Company Limited, Bluewater Brasil Ltda., Bluewater Floating Productions B.V., Bluewater International B.V., Bluewater Offshore Production Systems Nigeria Limited, Bluewater Offshore Productions System (USA) Inc., Bluewater Services (UK) Limited and Bleo Xxxx Standby Purchaser N.V., as guarantors and security parties, (12) Bluewater Energy Services B.V., as Bluewater agent, (13) Xxxx Xxxxxx Leasing (No. 4) Limited, as lessor, (14) Xxxxx Exploration Foundation, Ariel Exploration Foundation and Asterix Exploration Foundation, as Standby Purchasers, (15) ING Bank N.V., acting through its Amsterdam head office, as equipment account bank, and (16) ING Bank N.V., acting through its Amsterdam head office, as security trustee account bank, as from time to time amended and supplemented;
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Deed of Proceeds and Priorities or “DPP” means the deed of proceeds, priorities, undertakings and subordination entered into or to be entered into between the Beneficiaries, the Hedging Provider, the Account Bank, the Borrower and the Rig Owners, in the Agreed Form;
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Examples of Deed of Proceeds and Priorities in a sentence

  • For the avoidance of doubt, each of the Beneficiaries acknowledges its recourse to the Borrower is limited as set out in clause 22 of the Deed of Proceeds and Priorities.

  • The provisions of clause 16 of the Deed of Proceeds and Priorities shall be incorporated by reference, mutatis mutandis, in this Agreement as if all references therein to “this Deed” were references to this Agreement.

  • Any insurance moneys paid under the Liability Insurances shall, subject to the terms of the Deed of Proceeds and Priorities, be paid to the person to whom the liability (or alleged liability) covered by such insurances or entry was incurred.

  • All salvage and towage and all proceeds from derelicts shall, subject to the Deed of Proceeds and Priorities and the Lessor's prior right to retain therefrom any sums which may be due from PPC to the Lessor under this Agreement be for PPC's benefit and the cost of repairing damage occasioned thereby shall be borne by PPC.

  • PPC shall ensure that the only fluid processed in the Haewene Brim Equipment or stored in the Haewene Brim at any time is fluid extracted through the Flow Lines and the Risers from the Approved Location where the Haewene Brim or, as the case may be, Haewene Brim Equipment is located at the relevant time or fluid extracted from any other field through any other flow lines and risers permitted or approved in accordance with clause 16.8 of the Deed of Proceeds and Priorities.

  • The provisions of clause 23.1 (Further Assurance) of the Deed of Proceeds and Priorities shall be deemed to be incorporated herein as if set out in extenso.

  • Within the operational framework constituted by the above covenants, the Lessor acknowledges that, as between itself and PPC, PPC shall have the full operational control of the Haewene Brim Equipment, but without prejudice to the right of the Lessor following the delivery by it of a Termination Notice (but subject always to the provisions of the Deed of Proceeds and Priorities) to repossess the Haewene Brim Equipment.

  • Any capitalised term used in this Deed which is not defined in the Lease or specifically defined in this clause 1 shall bear the meaning attributed thereto in the Deed of Proceeds and Priorities and/or the Credit Agreement Supplemental Agreement.

  • In this Deed, words and expressions defined in the Deed of Proceeds and Priorities (as defined in schedule 1) (whether by reference to another document or agreement or otherwise) and/or in the Credit Agreement Supplemental Agreement (as defined in schedule 1) and/or in schedule 1 shall, unless otherwise defined herein or the context otherwise requires, have the same meanings when used herein.

  • The Effective Time shall be the time at which the Facility Agent, acting as agent of the General Security Trustee pursuant to clause 7.18 of the Deed of Proceeds and Priorities, determines in writing that each of the conditions specified in schedule 3 has been fulfilled to its satisfaction.


More Definitions of Deed of Proceeds and Priorities

Deed of Proceeds and Priorities has the meaning given to that term in the Project Loan Agreement;
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Deed of Proceeds and Priorities means the trust deed and deed of proceeds and priorities referring to the Credit Agreement entered into between the Beneficiaries, the Original Obligors and the Bluewater Agent, in the Agreed Form;
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Related to Deed of Proceeds and Priorities

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • Second Priority Documents means each Second Priority Agreement, each Second Priority Security Document and each Second Priority Guarantee.

  • First Priority Documents means the First Priority Agreement, each First Priority Security Document and each First Priority Guarantee.

  • First Priority Security Documents means each agreement or document granting or purporting to xxxxx x Xxxx on any Common Collateral to secure First Priority Obligations.

  • Senior Collateral Documents means the Security Agreement and the other “Collateral Documents” as defined in the Credit Agreement, the First Lien Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Security Documents means the Security Agreement, the Mortgages, the Intellectual Property Security Agreement, the Pledge Agreement, the Facility Guarantee, and each other security agreement or other instrument or document executed and delivered pursuant to this Agreement or any other Loan Document that creates a Lien in favor of the Collateral Agent to secure any of the Obligations.

  • Priority Lien Security Documents means the Priority Credit Agreement (insofar as the same grants a Lien on the Collateral), each agreement listed in Part A of Exhibit B hereto, and any other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, control agreements, or grants or transfers for security, now existing or entered into after the date hereof, executed and delivered by the Borrower or any other Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Priority Lien Agent (including any such agreements, assignments, mortgages, deeds of trust and other documents or instruments associated with any Priority Substitute Credit Facility).

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • Second Priority Collateral Documents means the Initial Second Priority Collateral Documents and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any Grantor for purposes of providing collateral security for any Second Priority Debt Obligation.

  • Collateral Agency and Intercreditor Agreement means that certain Collateral Agency and Intercreditor Agreement, dated as of January 31, 2008 (as amended, amended and restated, supplemented or otherwise modified from time to time in compliance with the terms of this Indenture), by and among the Company, the other guarantors from time to time party thereto, the secured debt representatives and the Collateral Agent.

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

  • Credit Agreement Collateral Documents means the Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and each other agreement entered into in favor of the Credit Agreement Collateral Agent for the purpose of securing any Credit Agreement Obligations.

  • Second Lien Security Documents means the “Security Documents”, as defined in the Second Lien Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted to secure any Second Lien Obligations or under which rights or remedies with respect to any such Lien are governed.

  • Second Priority Liens means all Liens on the Second Lien Collateral to secure the Second Lien Obligations, whether created under the Second Lien Security Documents or acquired by possession, statute, operation of law, subrogation or otherwise.

  • Collateral Documents means, collectively, the Security Agreement, the Intellectual Property Security Agreements, the Mortgages (if any), each of the collateral assignments, security agreements, pledge agreements or other similar agreements delivered to the Administrative Agent, Collateral Agent or the Lenders pursuant to Sections 4.01(1)(c), 6.11 or 6.13 and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Collateral Agent for the benefit of the Secured Parties.

  • Real Property Security Documents means the Landlord Consent and any mortgage or deed of trust or any other real property security document executed or required hereunder to be executed by any Obligor and granting a security interest in real Property owned or leased (as tenant) by any Obligor in favor of the Lenders.

  • Lien Priority means with respect to any Lien of the ABL Secured Parties or the Term Secured Parties in the Collateral, the order of priority of such Lien as specified in Section 2.1.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Term Loan Security Documents means the “Security Documents” as defined in the Term Loan Credit Agreement.

  • Junior Lien Priority means Indebtedness that is secured by a Lien on the Collateral that is junior in priority to the Liens on the Collateral securing the Obligations under the Notes and is subject to an intercreditor agreement (it being understood that junior Liens are not required to rank equally and ratably with other junior Liens, and that Indebtedness secured by junior Liens may be secured by Liens that are senior in priority to, or rank equally and ratably with, or junior in priority to, other Liens constituting junior Liens).

  • Intercreditor Agreements means the First Lien Intercreditor Agreement and the Junior Lien Intercreditor Agreement, collectively, in each case to the extent in effect.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • First Lien Security Documents means, collectively, (i) the Credit Agreement Collateral Documents and (ii) the Additional First-Lien Security Documents.

  • Guarantee Priority of Payments means the priority of payments relating to moneys received by the Cash Manager for and on behalf of the Guarantor and moneys standing to the credit of the Guarantor Accounts, to be paid on each Guarantor Payment Date in accordance with the Guarantor Agreement.

  • ABL Security Documents means any agreement, document or instrument pursuant to which a Lien is granted securing any ABL Obligations or under which rights or remedies with respect to such Liens are governed.

  • Security Instruments means, collectively, (a) the Mortgages, (b) the Transfer Letters, (c) the Pledge Agreements, (d) the Security Agreements, (e) each other agreement, instrument or document executed at any time in connection with the Pledge Agreements, the Security Agreements, or the Mortgages, (f) each agreement, instrument or document executed in connection with the Cash Collateral Account; and (g) each other agreement, instrument or document executed at any time in connection with securing the Obligations.