Examples of First Lien Debt Documents in a sentence
In addition, subject to certain limitations set forth in the Collateral Documents, all Collateral used, sold, transferred or otherwise disposed of in accordance with the terms of the applicable First Lien Debt Documents, including any waiver or amendment of these documents, will automatically be released from the Lien securing the Notes or the Guarantees of the Notes so that the use, sale, transfer or other disposition may be made free of such Lien.
Unless and until the Discharge of First Lien Obligations has occurred, the Designated First Lien Representative and the First Lien Secured Parties shall have the sole and exclusive right, subject to the rights of the Obligors under the First Lien Debt Documents, (a) to adjust settlement for any insurance policy covering the Collateral in the event of any loss thereunder, and (b) to approve any award granted in any condemnation or similar proceeding affecting the Collateral.
Subject to the terms of this Agreement, until the Discharge of First Lien Obligations has occurred, the First Lien Representatives and First Lien Collateral Agents shall be entitled to deal with the Pledged Collateral in accordance with the terms of the First Lien Debt Documents as if the Liens of the Second Lien Secured Parties under the Second Lien Security Documents did not exist.
For the avoidance of doubt, the sale proceeds withrespect to Northwest do not constitute cash collateral of the First Lien Lenders, and the Debtors have and will continue to apply the proceeds of the PNW Sale in accordance with the First Lien Debt Documents.
In connection with any Exercise of Secured Creditor Remedies, as between the First Lien Claimholders and the Second Lien Claimholders, First Lien Agent and First Lien Claimholders may enforce the provisions of the First Lien Debt Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion.