Examples of Discharge of Senior Priority Obligations in a sentence
Subject to Section 6.4, this Agreement shall become effective when executed and delivered by the parties hereto and shall continue to be effective until the Discharge of Senior Priority Obligations shall have occurred.
After the Discharge of Senior Priority Obligations the Designated Second Priority Representative shall have all of the rights provided to the Designated Senior Priority Representative under the preceding sentence mutatis mutandis (without any consent, sanction, authority or further confirmation from any Second Priority Secured Party, Senior Subordinated Priority Party, Intra-Group Lender, Debtor or the Honeywell Indemnitee).
Each Credit Party shall deliver all Control Collateral when required to be delivered pursuant to the Credit Documents to (x) until the Discharge of Senior Priority Obligations, the Senior Priority Representative and (y) thereafter, the Junior Priority Representative.
The Junior Priority Collateral Agent, on behalf of itself and each Junior Priority Claimholder hereby waivers any rights of subrogation it may have acquired as a result of any payment hereunder until the Discharge of Senior Priority Obligations has occurred.
Subject to Section 5.10(b), so long as the Discharge of Senior Priority Obligations (excluding any Secured Hedge Obligations and any Cash Management Obligations) has not occurred, none of the Cash Management Providers shall be entitled to take any Enforcement Action in respect of any of the Cash Management Obligations owed to it.