Discharge of Senior Obligations definition

Discharge of Senior Obligations means the date on which the Discharge of Credit Agreement Obligations and the Discharge of each Additional Senior Debt Facility has occurred.

Discharge of Senior Obligations means the date on which the Discharge of Senior Credit Agreement Obligations and the Discharge of each Additional Senior Debt Facility has occurred.

Discharge of Senior Obligations means the date on which each Senior Facility has been Discharged.

Examples of Discharge of Senior Obligations in a sentence

• Any Senior Party’s vote to accept or reject any plan of reorganization relating to any Specified Subsidiary Guarantor, or any Senior Party’s receipt on account of the Senior Obligations other than Discharge of Senior Obligations, shall not discharge, exonerate, or reduce the obligations of any Subordinated Party hereunder to the Senior Parties.

• Until the Discharge of Senior Obligations has occurred, none of the Junior Representatives nor any Junior Priority Debt Party shall seek to exercise any rights under Section 1111(b) of the Bankruptcy Code or any similar provision under any Bankruptcy Law.

• When Discharge of Senior Obligations is Deemed Not to Have Occurred.

• Except as otherwise specifically provided herein, until the Discharge of Senior Obligations has occurred, the Senior Representative and the Senior Secured Parties shall be entitled to deal with the Pledged or Controlled Collateral in accordance with the terms of the Senior Debt Documents as if the Liens under the Junior Priority Collateral Documents did not exist.

• Upon the Discharge of Senior Obligations, the Senior Representative shall deliver promptly to the Designated Junior Representative any Shared Collateral or Proceeds thereof held by it in the same form as received, with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct, to be applied by the Designated Junior Representative to the Junior Priority Debt Obligations in such order as specified in the relevant Junior Priority Debt Documents.

More Definitions of Discharge of Senior Obligations

Discharge of Senior Obligations means, except to the extent otherwise expressly provided in Section 5.06:

Discharge of Senior Obligations means the date on which the Discharge of Senior Obligations has occurred.

Discharge of Senior Obligations shall have the meaning as defined in the Term Intercreditor Agreement.

Discharge of Senior Obligations means (a) with respect to the ABL Priority Collateral, the Discharge of ABL Obligations and (b) with respect to the Term Loan Priority Collateral, the Discharge of Term Loan Obligations.

Discharge of Senior Obligations has the meaning assigned to such term in the First Lien/Second Lien Intercreditor Agreement.

Discharge of Senior Obligations means the Discharge of ABL Obligations and Discharge of Term Obligations.

Discharge of Senior Obligations means, with respect to any Collateral, the Discharge of Obligations constituting Senior Obligations with respect to such Collateral. The parties hereto acknowledge that (a) with respect to the ABL Liens on the Term Priority Collateral and the ABL Obligations insofar as they are secured by such Liens, a Discharge of Senior Obligations shall mean a Discharge of the Term Obligations and (b) with respect to the Term Liens on the ABL Priority Collateral and the Term Obligations insofar as they are secured by such Liens, the Discharge of Senior Obligations shall mean a Discharge of the ABL Obligations.