Discharge of Revolving Obligations means, except to the extent otherwise expressly provided in Section 5.5:
Discharge of Revolving Obligations means, except to the extent otherwise expressly provided in Section 5.5(a): (a) all Revolving Obligations (including the payment of any termination amount then due (or which would or could become due as a result of the repayment of the other Revolving Obligations) under Hedge Agreements provided by Hedge Providers) other than (i) unasserted contingent indemnification Revolving Obligations, (ii) any Bank Product Obligations (other than Hedge Obligations) (A) with respect to which Bank Product Collateralization has been provided or (B) that, at such time, are allowed by the applicable Bank Product Provider to remain outstanding without being required to be repaid or cash collateralized, and (iii) any Hedge Obligations that, at such time, are allowed by the applicable Hedge Provider to remain outstanding without being required to be repaid, have been paid, performed or discharged in full (with all such Revolving Obligations consisting of monetary or payment obligations having been paid in full in cash), (b) no Person has any further right to obtain any loans, letters of credit, bankers’ acceptances, or other extensions of credit under the documents relating to such Revolving Obligations and the termination or expiration of all commitments, if any, to extend credit under the Revolving Loan Documents, (c) any and all letters of credit, bankers’ acceptances or similar instruments issued under such documents have been cancelled and returned (or backed by standby guarantees or letters of credit or cash collateralized) in an amount and manner provided for in the Revolving Loan Documents or otherwise reasonably satisfactory to the Revolving Collateral Agent, and (d) the Revolving Collateral Agent has received cash collateral in order to secure any other contingent Revolving Obligations for which a claim or demand for payment has been made on or prior to such time or in respect of matters or circumstances known to the Revolving Collateral Agent or other Revolving Claimholder at such time that are reasonably expected to result in any loss, cost, damage, or expense (including attorneys’ fees and legal expenses), such cash collateral to be in such amount as Revolving Collateral Agent reasonably determines is appropriate to secure such contingent Revolving Obligations.
Discharge of Revolving Obligations shall have the meaning given to such term in the Intercreditor Agreement.
Examples of Discharge of Revolving Obligations in a sentence
This authorization is coupled with an interest and is irrevocable until the earlier of the Discharge of Revolving Obligations or the Notes Obligations.
The Administrative Agent and the Secured Parties hereby agree and acknowledge that prior to the Discharge of Revolving Obligations (as such term is defined in the Intercreditor Agreement) any requirement of this Agreement to deliver any ABL Collateral to the Administrative Agent shall be deemed satisfied by delivery of such ABL Collateral to the ABL Administrative Agent as bailee for the Administrative Agent pursuant to the Intercreditor Agreement.
This Agreement is a continuing agreement and shall (a) remain in full force and effect until the Discharge of Revolving Obligations and the Discharge of Term Obligations shall have occurred, (b) be binding upon the Parties and their successors and assigns, and (c) inure to the benefit of and be enforceable by the Parties and their respective successors, transferees and assigns.
The Parent shall provide written notice to the Revolving Collateral Agent of the Discharge of the Notes Obligations and shall provide written notice to the Notes Collateral Agent of the Discharge of Revolving Obligations.
Upon the Discharge of Revolving Obligations, the Revolving Lender shall deliver to the Term Agent or shall execute such documents as the Term Agent may reasonably request (at the expense of the relevant Loan Parties) to enable the Term Agent to have control over any Control Collateral still in the Revolving Lender’s possession, custody, or control in the same form as received with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct.
More Definitions of Discharge of Revolving Obligations
Discharge of Revolving Obligations means (a) the payment in full in cash of all Obligations (excluding (w) the FILO Obligations, (x) contingent indemnity obligations with respect to then unasserted claims, (y) Banking Services Obligations as to which arrangements satisfactory to the applicable provider of Banking Services shall have been made, and (z) Swap Agreement Obligations as to which arrangements satisfactory to the applicable Swap Bank shall have been made) and including, with respect to amounts available to be drawn under outstanding Letters of Credit (or indemnities or other undertakings issued pursuant thereto in respect of outstanding Letters of Credit), the cancellation of such Letters of Credit or the delivery or provision of cash collateral or backstop letters of credit in respect thereof in compliance with the terms of Section 2.06(j) hereof, and (b) the termination of the Aggregate Revolving Commitments.
Discharge of Revolving Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.
Discharge of Revolving Obligations means the first date on which all of the Revolving Loan Commitments have terminated and all Revolving Obligations (other than indemnification obligations with respect to unasserted claims) have been paid in full in cash and no Revolving Letter of Credit Accommodations are outstanding.
Discharge of Revolving Obligations shall refer to the Payment in Full of the Revolving Credit Obligations, as such terms are defined in the Intercreditor Agreement.
Discharge of Revolving Obligations means, with respect to any Shared Collateral, the Discharge, including payment in full in cash and the termination of all commitments in connection therewith, of the Revolving Obligations with respect to such Shared Collateral; provided that the Discharge of Revolving Obligations shall not be deemed to have occurred in connection with a Refinancing of such Revolving Obligations with additional First Lien Obligations secured by such Shared Collateral under an Additional First Lien Agreement which has been designated in writing by the Revolving Agent (under the Revolving Credit Agreement so Re-financed) or the Borrower to the Collateral Agent and each other Authorized Representative as the “Revolving Credit Agreement” for purposes of this Agreement.
Discharge of Revolving Obligations means, except to the extent otherwise expressly provided in Section 5.5(a): (a) all Revolving Obligations (other than contingent indemnification obligations for which no underlying claim has been asserted) have been indefeasibly paid, performed or discharged in full (with all such Revolving Obligations consisting of monetary or payment obligations having been paid in full in cash), (b) no Person has any further right to obtain any loans, letters of credit, bankers’ acceptances, or other extensions of credit under the documents relating to such Revolving Obligations, and (c) any and all letters of credit, bankers’ acceptances or similar instruments issued under such documents have been cancelled and returned (or backed by stand-by guarantees or cash collateralized) in accordance with the terms of such documents.
Discharge of Revolving Obligations means, except to the extent otherwise expressly provided in Section 5.5(a): (a) all Revolving Obligations that are due and payable or otherwise accrued and owing (other than (i) contingent indemnification obligations for which no underlying claim or demand for payment has been asserted and (ii) to the extent constituting Revolving Obligations, Secured Bank Product Obligations owed to Revolving Agent, any Revolving Arranger or any of their respective Affiliates or a person that is a Revolving Lender (or an Affiliate of a Revolving Lender) on the Closing Date or on the date such agreement governing such Secured Bank Product Obligations is entered into that are cash collateralized (or otherwise satisfied in a manner satisfactory to the counterparties party thereto)) have been paid, performed or otherwise discharged in full (with all such Revolving Obligations consisting of monetary or payment obligations having been paid in full in cash (or otherwise satisfied in a manner satisfactory to Revolving Claimholders)), (b) all commitments to provide extensions of credit under the documents relating to such Revolving Obligations have been terminated, cancelled or otherwise have expired, and (c) any and all letters of credit, bankers’ acceptances or similar instruments issued under the documents relating to such Revolving Obligations have been cancelled and returned (or backed by letters of credit or cash collateralized) in accordance with the terms of such documents.