Discharge of Junior Lien Obligations means the occurrence of all of the following:
Discharge of Junior Lien Obligations means, except to the extent otherwise provided in Section 5.8, the Discharge of each Series of Junior Lien Obligations has occurred.
Discharge of Junior Lien Obligations means the occurrence of the Discharge of the Junior Lien Obligations.
Examples of Discharge of Junior Lien Obligations in a sentence
As used in this Agreement, “Termination Date” shall mean the date upon which the Discharge of Junior Lien Obligations shall have occurred.
This Agreement shall terminate and be of no further force and effect on the earlier to occur of (x) the date on which there has been a Discharge of Senior Lien Obligations and (y) the date on which there has been a Discharge of Junior Lien Obligations, in each case, subject to Sections 5.6 and 6.5; provided, however, that no termination shall relieve any party of its obligations incurred hereunder prior to the date of termination.
More Definitions of Discharge of Junior Lien Obligations
Discharge of Junior Lien Obligations means each of the following
Discharge of Junior Lien Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.
Discharge of Junior Lien Obligations means, except to the extent otherwise expressly provided in Section 5.5, the payment in full in cash of the Junior Lien Obligations (other than unasserted contingent indemnification obligations) and the termination or expiration of all commitments, if any, to extend credit that would constitute Junior Lien Obligations.
Discharge of Junior Lien Obligations means (a) the payment in full in cash of the applicable Junior Lien Obligations that are outstanding and unpaid (and excluding, for the avoidance of doubt, unasserted contingent indemnification or other obligations) at the time all Indebtedness under the applicable Junior Lien Credit Agreement is paid in full in cash, including (if applicable), with respect to amounts available to be drawn under outstanding letters of credit issued thereunder at such time (or indemnities or other undertakings issued pursuant thereto in respect of outstanding letters of credit at such time), delivery or provision of cash or backstop letters of credit in respect thereof in compliance with the terms of any such Junior Lien Credit Agreement (which shall not exceed an amount equal to 103% of the aggregate undrawn amount of such letters of credit) and (b) the termination of all then outstanding commitments to extend credit under the Junior Lien Facility Documents.
Discharge of Junior Lien Obligations means the occurrence of all of the following: (1) termination or expiration of all commitments to extend credit that would constitute Junior Lien Debt; (2) payment in full in cash of the principal of and interest and premium (if any) on all Junior Lien Debt (other than any undrawn letters of credit); (3) if applicable, discharge (or cash collateralization at the percentage of the aggregate undrawn amount required for release of Liens under the terms of the applicable Junior Lien Document) of all outstanding letters of credit constituting Junior Lien Debt; and (4) payment in full in cash of all other Junior Lien Obligations that are outstanding and unpaid at the time the Junior Lien Debt is paid in full in cash (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no claim or demand for payment has been made at such time).
Discharge of Junior Lien Obligations means the occurrence of all of the following: (1) termination or expiration of all commitments to extend credit that would constitute Junior Lien Debt; (2) with respect to each Series of Junior Lien Debt, either (x) payment in full in cash of the principal of and interest and premium (if any) on all Junior Lien Debt of such Series (other than any undrawn letters of credit) or (y) there has been a legal defeasance or covenant defeasance pursuant to the terms of the applicable Junior Lien Documents for such Series of Junior Lien Debt; (3) with respect to any undrawn letters of credit constituting Junior Lien Debt, either (x) discharge or cash collateralization (at the lower of (A) 103% of the aggregate undrawn amount and (B) the percentage of the aggregate undrawn amount required for release of liens under the terms of the applicable Junior Lien Document) of all outstanding letters of credit constituting Junior Lien Debt or (y) the issuer of each such letter of credit has notified the Collateral Trustee in writing that alternative arrangements satisfactory to such issuer have been made; and 4
Discharge of Junior Lien Obligations means, as used herein as of any date of determination, (i) in the case of the First Lien Representative, the First Lien Collateral Agent, the other First Lien Claimholders and the First Lien Obligations and after the Discharge of First Lien Obligations has occurred, the Discharge of Second Lien Obligations, the Discharge of Third Lien Obligations and the Discharge of Fourth Lien Obligations, (ii) in the case of the Second Lien Representative, the Second Lien Collateral Agent, the other Second Lien Claimholders and the Second Lien Obligations and after the Discharge of Second Lien Obligations has occurred, the Discharge of Third Lien Obligations and the Discharge of Fourth Lien Obligations and (iii) in the case of the Third Lien Representative, the Third Lien Collateral Agent, the other Third Lien Claimholders and the Third Lien Obligations and after the Discharge of Third Lien Obligations has occurred, the Discharge of Fourth Lien Obligations.