Discharge of Revolving Obligations definition

Discharge of Revolving Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.

Discharge of Revolving Obligations means, except to the extent otherwise expressly provided in Sections 5.5 and 6.7:

Discharge of Revolving Obligations means (a) the payment in full in cash of all outstanding Revolving Obligations, (b) with respect to amounts available to be drawn under outstanding Letters of Credit (or indemnities, guarantees 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 money, cash collateral or backstop letters of credit in respect thereof in compliance with the terms of any Revolving Credit Agreement, (c) with respect to any other unmatured or contingent Revolving Obligations (excluding unknown and unasserted contingent indemnity claims against any Revolving Secured Party which may be asserted after the date upon which Discharge of the Revolving Obligations occurs; but including reasonably anticipated out- of-pocket costs and expenses (including fees, costs and expenses of counsel to the Revolving Secured Parties) of the Revolving Secured Parties), delivery of cash collateral or other credit support in an amount reasonably determined by (and on terms reasonably satisfactory to) the Revolving Lender with respect to such Revolving Obligations to be held by the Revolving Lender for a period of time reasonably determined by the Revolving Lender with respect to such unmatured or contingent Revolving Obligations (and subject to the application of such cash collateral or other credit support to such Revolving Obligations when matured or otherwise due), and (d) the termination of all commitments to extend credit under the Revolving Documents. If, at any time prior to or simultaneously with the occurrence of the Discharge of Revolving Obligations, the Loan Parties enter into (x) any refinancing of the Revolving Obligations, which refinancing is permitted under the terms of this Agreement or (y) Revolving DIP Financing provided by the Revolving Lender to one or more Loan Parties and such Revolving DIP Financing is entered into in accordance with Section 6.1, then, in each case, the Discharge of Revolving Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement.

Examples of Discharge of Revolving Obligations in a sentence

• The provisions of this Section 2.4 shall survive the Discharge of Revolving Obligations and the termination or non-renewal of this Agreement.

• Prior to the Discharge of Revolving Obligations, the Revolving Lender shall have the sole and exclusive right, as against the Term Agent, to adjust settlement of insurance claims in a commercially reasonable manner in the event of any covered loss, theft or destruction of Revolving Priority Collateral.

• Until the Discharge of Revolving Obligations has occurred, the Term Agent, on behalf of itself and the Term Secured Parties, agrees not to seek relief from the automatic stay or any other stay in any Insolvency Proceeding in respect of any portion of the Revolving Priority Collateral without the Revolving Lender’s express written consent.

• The Term Agent, for and on behalf of itself and the Term Secured Parties, agrees that no payment to the Revolving Lender or any Revolving Secured Party pursuant to the provisions of this Agreement shall entitle the Term Agent or any Term Secured Party to exercise any rights of subrogation in respect thereof until the Discharge of Revolving Obligations shall have occurred.

• 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.

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 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 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 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 (a) the payment in full in cash of all Obligations (excluding (w) the FILO Obligations,

Discharge of Revolving Obligations means the “payment in full” (as defined in the Revolving Credit Agreement (as in effect on the date hereof)) of the Revolving Obligations.

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.