Excess First Lien Obligations means any Obligations that would constitute First Lien Obligations if not for the Cap Amount.
Excess First Lien Obligations means First Lien Obligations for the principal amount of loans, letters of credit and reimbursement obligations in excess of the amount set forth in clause (a) of the definition of “First Lien Cap.”
Excess First Lien Obligations means the sum of (a) the portion of the principal amount of the loans outstanding under the First Lien Documents and the undrawn amount of outstanding letters of credit that is in excess of the Maximum First Lien Principal Debt, plus (b) the portion of interest and fees that accrues or is charged with respect to that portion of the principal amount of the loans and letters of credit described in clause (a) of this definition.
Examples of Excess First Lien Obligations in a sentence
Any Excess First Lien Obligations will, after the closing of the purchase of the First Lien Obligations in accordance with this section 5, remain Excess First Lien Obligations for all purposes of this Agreement.
More Definitions of Excess First Lien Obligations
Excess First Lien Obligations means First Lien Obligations constituting the aggregate outstanding principal amount of loans and outstanding amount of letters of credit made, issued or incurred pursuant to the First Lien Loan Documents in excess of the Maximum First Lien Facility Amount and any interest, fees (including early termination fee, make-whole payment or prepayment fee) or reimbursement obligations accrued on or with respect to such excess amounts.
Excess First Lien Obligations means the aggregate principal amount of the Excess ABL First Lien Obligations plus the aggregate principal amount of the Excess Floor Plan First Lien Obligations
Excess First Lien Obligations means the sum of (a) the portion of the principal amount of the Advances outstanding under the First Lien Debt Documents, the undrawn amount of all outstanding Letters of Credit, and the outstanding amount of the Net Secured Hedge Liabilities and Secured Banking Services Obligations that is in excess of the First Lien Cap, plus (b) the portion of interest and fees on account of such portion of the Advances, Letters of Credit, Secured Hedge Liabilities and Secured Banking Services Obligations described in clause (a) of this definition plus (c) any default interest (but not any other interest) or loan fees, each arising from or related to a default and accruing or becoming due under the terms of the First Lien Debt Documents on or after the commencement of any Insolvency Proceeding relating to any Grantor or any other Person to the extent that a claim for such default interest or loan fees is not allowable or allowed in such Insolvency Proceeding.
Excess First Lien Obligations means any Indebtedness and other obligations that would constitute First Lien Priority Obligations but for the exclusion therefrom pursuant to the proviso in the definition of “First Lien Obligations”. If any Excess First Lien Obligations exist, the portion of obligations outstanding under the First Lien Documents constituting Excess First Lien Obligations shall be (x) determined as agreed in writing among the First Lien Secured Parties or (y) if no such agreement applies, the latest principal amounts advanced (it being agreed for such purposes that principal advanced pursuant to a revolving credit commitment or delayed draw commitment shall be deemed advanced on the date such commitment first became binding on the applicable creditors).
Excess First Lien Obligations means any First Lien Obligations that are in excess of the First Lien Cap Amount.
Excess First Lien Obligations has the meaning set forth in the Second Lien Intercreditor Agreement.
Excess First Lien Obligations means any First Lien Capped Obligations that would constitute First Lien Obligations if not for the First Lien Cap Amount.