First Lien Discharge Date definition

First Lien Discharge Date means the First Lien Discharge Date or similar term identified in the Intercreditor Agreement.

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First Lien Discharge Date means the date on which (i) all First Lien Obligations (excluding the First Lien Excess Obligations) have been paid in cash in full (or, with respect to Swap Agreements, cash collateral in an amount equal to obligations has been posted) and (ii) all commitments to extend credit under the First Lien Documents have been terminated and (iii) there are no outstanding letters of credit or similar instruments issued under the First Lien Documents (other than such as have been cash collateralized or defeased in accordance with the terms of the First Lien Security Documents).

First Lien Discharge Date means the later to occur of the Credit Facility Lender Discharge Date and the Senior Secured Note Discharge Date.

Examples of First Lien Discharge Date in a sentence

This Agreement shall continue to be effective, and shall not be revocable by any party hereto, until the First Lien Discharge Date shall have occurred.
If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto until such time as the First Lien Discharge Date shall have fully and finally occurred with respect to all such reinstated First Lien Obligations.
The Second Lien Trustee, on behalf of itself and the Second Lien Creditors, hereby agrees that it shall not exercise any rights of subrogation they may acquire as a result of any payment hereunder prior to the occurrence of the First Lien Discharge Date.
The Second Lien Agent, on behalf of itself and the Second Lien Creditors, hereby agrees that it shall not exercise any rights of subrogation they may acquire as a result of any payment hereunder prior to the occurrence of the First Lien Discharge Date.
The Agent shall not make a determination for the purposes of determining the First Lien Discharge Date under the Intercreditor Agreement unless each of the Hedging Banks has confirmed to it that all Hedging Debt due to such Hedging Bank has been discharged and paid in full.
The Second Lien Trustee, on behalf of itself and the Second Lien Creditors, hereby agrees that it shall not collect upon any rights of subrogation they may acquire as a result of any payment hereunder prior to the occurrence of the First Lien Discharge Date.
So long as the First Lien Discharge Date has not occurred, the parties hereto agree that no Loan Party shall grant or permit, and no Second Lien Creditor shall acquire or hold, any Lien on any assets of any Loan Party securing any Second Lien Obligation which assets are not also subject to a Senior Lien granted pursuant to the First Lien Documents in favor of the First Lien Agent for the benefit of the First Lien Creditors securing the First Lien Obligations.
Subject to the Intercreditor Agreement, following the First Lien Discharge Date, each Grantor shall deliver or cause to be delivered to the Collateral Agent any Collateral which is perfected by control (as such term is used in the UCC, and as effectuated by possession, delivery or otherwise as provided in the UCC).
Further, notwithstanding anything herein to the contrary, prior to the First Lien Discharge Date, the requirement of this Agreement to endorse, assign, deliver or grant control over Collateral to the Collateral Agent shall be deemed satisfied by endorsement, assignment, delivery or granting of control of such Collateral to the First Lien Agent (who shall possess or control such Collateral for the benefit of the Collateral Agent pursuant to the Intercreditor Agreement).
Until the First Lien Discharge Date, except with the prior consent of or as required by an Instructing Group no Second Lien Note Creditor shall take or require the taking of any Enforcement Action in relation to the Second Lien Note Liabilities.

More Definitions of First Lien Discharge Date

First Lien Discharge Date means the date, as determined by the First Lien Agent, on which all First Lien Debt and all Hedging Debt has been unconditionally and irrevocably paid and discharged in full (as a result of enforcement or otherwise) and no amount is capable of being outstanding under the First Lien Documents.

First Lien Discharge Date means the date on which (i) all First Lien Obligations have been paid in cash in full (or cash collateralized or defeased in accordance with the terms of the First Lien Documents), (ii) all commitments to extend credit under the First Lien Documents have been terminated, (iii) there are no outstanding letters of credit or similar instruments issued under the First Lien Documents (other than such as have been cash collateralized or defeased in accordance with the terms of the First Lien Documents), and (iv) the First Lien Agent has delivered a written notice to the Collateral Agent stating that the events described in clauses (i), (ii) and (iii) have occurred to the satisfaction of the First Lien Creditors.

First Lien Discharge Date means the date on which (i) all First Lien Obligations have been paid in cash in full (or cash collateralized or defeased in accordance with the terms of the First Lien Documents), (ii) all commitments to extend credit under the First Lien Documents have been terminated, (iii) there are no outstanding letters of credit or similar instruments issued under the First Lien Documents (other than such as have been cash collateralized or defeased in accordance with the terms of the First Lien Security Documents), and (iv) the First Lien Agent has delivered a written notice to the Second Lien Trustee stating that the events described in clauses (i), (ii) and (iii) have occurred to the satisfaction of the First Lien Creditors.

First Lien Discharge Date means the date on which the First Lien Obligations have been fully paid and performed by BEEOO.

First Lien Discharge Date has the meaning set forth in the Intercreditor Agreement.