DIP Term Priority Collateral definition

DIP Term Priority Collateral as defined in the DIP Intercreditor Agreement.
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DIP Term Priority Collateral means all Collateral, including, without limitation, the DIP Term Loan Account (as defined in the DIP ABL Credit Agreement), other than the DIP ABL Priority Collateral; provided, however, that any Collateral, regardless of type, received in connection with a permitted disposition of or otherwise in exchange for DIP Term Priority Collateral pursuant to the terms of the DIP Term Loan Agreement shall be treated as DIP Term Priority Collateral under this Agreement; provided, further, that any Collateral regardless of type received in connection with a permitted disposition of or otherwise in exchange for DIP ABL Priority Collateral pursuant to the terms of the Credit Agreement, shall be treated as DIP ABL Priority Collateral under this Agreement.
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DIP Term Priority Collateral means all DIP Collateral other than DIP ABL Priority Collateral, but including, for the avoidance of doubt, the Foreign Reserve Account, the DIP Term Loan Proceeds Account, and any amounts deposited therein, and Avoidance Action Proceeds.
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Examples of DIP Term Priority Collateral in a sentence

  • For the avoidance of doubt, (i) the DIP Term Priority Accounts (as defined in the DIP Term Credit Agreement) shall at all times solely constitute DIP Term Priority Collateral and (ii) each of the DIP Additional Accounts shall constitute DIP Term Priority Collateral or DIP ABL Priority Collateral, as the case may be, subject to and in accordance with the Prepetition Intercreditor Agreement as specified in paragraph 52 below.

  • However, international support is drawn from Muslim communities around the world, with primary resources originating in the Middle East.

  • DIP Term Priority Collateral may be sold only outside the ordinary course of business and with the consent of the Term B Agent, subject to Use Rights set forth in Section7.4 of the DIP Credit Agreement and to paragraph 46 hereof.

  • Further, in the event there is no cash on hand constituting proceeds of either the DIP Term Priority Collateral or the ABL Priority Collateral at the time of such funding, each of ABL Agent and DIP Term Agent agree that the other shall be reimbursed directly from the first proceeds received from the sale or other disposition of either the Term Priority Collateral or the ABL Priority Collateral, after any such proceeds from such sale or other disposition are used to fund the full amount of the Carve Out.

  • The Debtors shall deposit and hold such amounts in a segregated third-party bank account (in respect of amounts funded by the DIP Term Loan Lenders or from the DIP Term Priority Collateral) and an account at the DIP ABL Agent in trust (in respect ofamounts funded by the DIP ABL Lenders or from the DIP ABL Priority Collateral) to pay such then unpaid Allowed Professional Fees (the “Pre-Carve Out Trigger Notice Reserve”) prior to anyand all other claims.

  • The Adequate Protection Liens shall be subject to the Carve Out and shall otherwise be junior (in order of priority) only to: (i) with respect to the DIP ABL Priority Collateral, (1) the Permitted Prior Liens; (2) the DIP ABL Liens; and (3) the Prepetition ABL Liens; and (ii) with respect to the DIP Term Priority Collateral, (1) the Permitted Prior Liens; (2) the DIP Term Loan Liens; (3) the DIP ABL Liens; and (4) the Prepetition ABL Liens.

  • For the purposes of this Final Order, DIP Collateral shall comprise DIP ABL Priority Collateral and DIP Term Priority Collateral.

  • For the avoidance of doubt, (x) proceeds of the Debtors’ rights under section 506(c) and 550 of the Bankruptcy Code, solely to the extent such rights are enforceable against or relate to DIP ABL Priority Collateral, shall be DIP ABL Priority Collateral, and (y) proceeds of the Debtors’ rights under section 506(c) and 550 of the Bankruptcy Code, solely to the extent such rights are enforceable against or relate to the DIP Term Priority Collateral,shall be DIP Term Priority Collateral.


More Definitions of DIP Term Priority Collateral

DIP Term Priority Collateral has the meaning given to “Term Loan Priority Collateral” in the DIP Intercreditor Agreement.
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DIP Term Priority Collateral means all DIP Collateral other than DIP ABL Priority Collateral, but including, for the avoidance of doubt, the Foreign Reserve Account, the DIP Term Loan Proceeds Account, and any amounts deposited therein, and Avoidance Action Proceeds. “DIP Collateral” means all owned or hereafter acquired, whether first arising prior to or following the Petition Date, assets and property of the Loan Parties (including, without limitation, inventory, accounts receivable, equipment, property, plant, equipment, owned real property, investment property, insurance proceeds, deposit accounts (other than payroll, trust, tax accounts and accounts holding cash collateral backstopping letters of credit, cash management obligations and hedging obligations in connection with the Prepetition ABL Payoff), rights under leases and other contracts, patents, copyrights, trademarks, tradenames, and other intellectual property, and capital stock of subsidiaries) and the proceeds thereof, including, subject to entry of the Final DIP Order, the Avoidance Action Proceeds (as defined herein), but not including the Excluded Assets (as defined herein). For the avoidance of doubt, DIP Collateral shall include a pledge of 100% of equity interests of the direct foreign subsidiaries held by any Loan Party; provided that, for the avoidance of doubt, no foreign subsidiaries shall provide a guarantee or pledge collateral with respect to the DIP Term Loan Facility. “Uniform Commercial Code” means the Uniform Commercial Code or any successor provision thereof as the same may from time to time be in effect in the State of New York or the Uniform Commercial Code or any successor provision thereof (or similar code or statute) of another jurisdiction, to the extent it may be required to apply to any item or items of DIP Collateral. “Excluded Assets” means (a) all claims and causes of action under sections 502(d), 544, 545, 547, 548, 549, and 550 of the Bankruptcy Code (collectively, the “Avoidance Actions”) and, prior to entry of the Final DIP Order, the proceeds of Avoidance Actions (collectively, the “Avoidance Action Proceeds”), provided, that notwithstanding such exclusion of Avoidance Actions, subject to entry of the Final DIP Order, DIP Term Liens shall attach to Avoidance Action Proceeds; (b) leased (not owned) real property; and (c) intent-to-use trademarks, assets subject to enforceable contractual restrictions or statutory prohibitions (subject to customary UCC overrides) and certain other excepti...
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DIP Term Priority Collateral means all Collateral other than Specified Collateral, but including, for the avoidance of doubt, the Foreign Reserve Account, the DIP Proceeds Account, and any amounts deposited therein, and proceeds of Avoidance Action (after the entry of the Final Order).
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Related to DIP Term Priority Collateral

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

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

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • Second Priority Collateral Documents means the Noteholder Collateral Documents and any other agreement, document or instrument pursuant to which a Lien is now or hereafter granted securing any Second Priority Claims or under which rights or remedies with respect to such Liens are at any time governed.

  • First Lien Collateral Documents means the “Security Documents” or “Collateral Documents” or similar term (as defined in the applicable First Lien Loan Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any First Lien Obligations or pursuant to which any such Lien is perfected.

  • UCC Collateral is defined in Section 3.03.

  • ABL Collateral Documents means all “Security Documents” as defined in the Original ABL Credit Agreement, and all other security agreements, mortgages, deeds of trust and other collateral documents executed and delivered in connection with any ABL Credit Agreement, and any other 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, in each case as the same may be amended, supplemented, waived or modified from time to time.

  • ABL Collateral Agent means the “Collateral Agent” as defined in the ABL Credit Agreement.

  • Equity Collateral shall have the meaning set forth in Section 11.6 hereof.

  • Second Lien Collateral Documents means the “Security Documents” or “Collateral Documents” (as defined in the applicable Second Lien Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any Second Lien Obligations or pursuant to which any such Lien is perfected.

  • Second Lien Collateral means all “Collateral”, as defined in any Second Lien Document, and any other assets of any Grantor now or at any time hereafter subject to Liens which secure, but only to the extent securing, any Second Lien Obligations.

  • First Lien Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any First Lien Obligations.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • First Lien Collateral Agent means the First Lien Credit Agreement Collateral Agent and any Additional First Lien Obligations Agent.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • Term Loan Collateral means all assets, whether now owned or hereafter acquired by any Loan Party, in which a Lien is granted or purported to be granted to any Term Loan Secured Party as security for any Term Loan Obligation.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Second Lien Collateral Agent means the “Collateral Agent” under and as defined in the Second Lien Credit Agreement.

  • U.S. Collateral means the “Collateral” (or any equivalent term) as defined in the U.S. Security Agreement or any other applicable U.S. Security Document, together with any other assets (whether Real Property or personal property) pledged pursuant to any U.S. Security Document.

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Prepetition Collateral shall have the meaning provided in Section 3.1(b).