First Lien Obligations means the Obligations and the Permitted Other Indebtedness Obligations that are secured by Liens on the Collateral that rank on an equal priority basis (but without regard to the control of remedies) with Liens on the Collateral securing the Obligations.
First Lien Obligations means, collectively, (1) the Senior Secured Credit Facility Obligations, (2) the First Lien Notes Obligations and (3) each Series of Additional First Lien Obligations.
First Lien Obligations means the “Obligations” as defined in the First Lien Credit Agreement.
Examples of First Lien Obligations in a sentence
The Collateral Asset Sale Offer, the Collateral Advance Offer, the Asset Sale Offer or the Advance Offer, as the case may be, shall be made to all Holders and, if required or permitted by the terms thereof, holders of other First Lien Obligations (in the case of Collateral Excess Proceeds) or any other Senior Indebtedness (in the case of Excess Proceeds).
The Liens securing the Notes and the Guarantees will be shared equally and ratably (subject to Liens permitted to be incurred under Section 4.12) with the holders of other First Lien Obligations.
More Definitions of First Lien Obligations
First Lien Obligations means, collectively, (i) the Credit Agreement Obligations and (ii) each Series of Additional First-Lien Obligations.
First Lien Obligations has the meaning assigned to such term in the Intercreditor Agreement.
First Lien Obligations means the Credit Agreement Obligations, obligations under any secured Replacement Credit Facility and the obligations under each other series of First Lien Notes and in respect of any Other First Lien Debt.
First Lien Obligations means (a) the unpaid principal of and interest on (including interest accruing after the maturity of the First Lien Loans made to Borrowers or any other Loan Party and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to Borrower or any other Loan Party, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) the First Lien Loans made to or LC Disbursements (as defined in the First Lien Credit Agreement) made pursuant to Letters of Credit (as defined in the First Lien Credit Agreement) issued for the account of Borrower or any other Loan Party and all other obligations and liabilities of Borrower and each other Loan Party to any First Lien Secured Party or the Issuing Bank (as defined in the First Lien Credit Agreement), whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of or in connection with the First Lien Credit Agreement, any other First Lien Loan Document or any other document made, delivered or given in connection therewith, whether on account of principal, interest, fees, indemnities, costs or expenses (including, without limitation, all reasonable fees, charges and disbursements of counsel to the extent reimbursable pursuant to the First Lien Loan Documents) or otherwise, (b) the due and punctual payment and performance of all obligations of Borrowers and the other Loan Parties under each Hedging Agreement entered into with a Qualified Counterparty (as defined in the First Lien Credit Agreement) and (c) the due and punctual payment and performance of all obligations in respect of overdrafts and related liabilities owed to any First Lien Lender, any Affiliate of a First Lien Lender, the First Lien Administrative Agent or the First Lien Collateral Agent arising from treasury, depositary and cash management services or in connection with any automated clearinghouse transfer of funds.
First Lien Obligations means the Obligations, Permitted First Priority Refinancing Debt and the Permitted Additional Debt Obligations (other than any Permitted Additional Debt Obligations that are unsecured or are secured by a Lien ranking junior or senior to the Lien securing the Obligations (but without regard to the control of remedies)), collectively.
First Lien Obligations means the Obligations, the Permitted Incremental Equivalent Debt and the Credit Agreement Refinancing Indebtedness, in each case, that are, or purported to be, secured by the Collateral on an equal priority basis (but without regard to the control of remedies) with liens on the Collateral securing the Closing Date Term Loans. For the avoidance of doubt, “First Lien Obligations” shall include the Closing Date Term Loans.
First Lien Obligations shall in any event include: (a) all interest accrued or accruing (or which would, absent commencement of an Insolvency or Liquidation Proceeding (and the effect of provisions such as Section 502(b)(2) of the Bankruptcy Code), accrue) on or after the commencement of an Insolvency or Liquidation Proceeding in accordance with the rate specified in the relevant First-Lien Document, whether or not the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding, (b) any and all fees and expenses (including attorneys’ and/or financial consultants’ fees and expenses) incurred by the First-Lien Collateral Agent, the First-Lien Administrative Agent and the other First-Lien Creditors on or after the commencement of an Insolvency or Liquidation Proceeding, whether or not the claim for fees and expenses is allowed under Section 506(b) of the Bankruptcy Code or any other provision of the Bankruptcy Code or Bankruptcy Law as a claim in such Insolvency or Liquidation Proceeding, and (c) all obligations and liabilities of each Grantor under each First-Lien Document to which it is a party which, but for the automatic stay under Section 362(a) of the Bankruptcy Code, would become due. Notwithstanding the foregoing, if the Outstanding Amount is in excess of the greater of (x) $25,000,000 and (y) $35,000,000 less the amount of permanent reductions to the commitments and outstandings under the First-Lien Credit Agreement made after the date hereof (other than in connection with a Refinancing) (the “Cap Amount”), then only that portion of such Outstanding Amount equal to the Cap Amount shall be included in First-Lien Obligations and interest and reimbursement obligations and Hedging Obligations with respect to such Outstanding Amount shall only constitute First-Lien Obligations to the extent related to the portion of such Outstanding Amount included in the First-Lien Obligations.