First Lien Obligations Payment Date means the “Termination Date” as defined in the First Lien Credit Agreement (or equivalent term under any document governing any other First Lien Facility).
First Lien Obligations Payment Date means the first date on which (a) the First Lien Obligations (other than those that constitute Unasserted Contingent Obligations, and other than Excess First Lien Obligations) have been indefeasibly paid in cash in full (or cash collateralized or defeased in accordance with the respective terms of the First Lien Documents), (b) all commitments to extend credit under the First Lien Documents have been terminated, and (c) 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 respective terms of the First Lien Documents); provided, however, that for purposes of this definition, the amount to have been paid pursuant to clause (a) above and the amount required to be cash collateralized or defeased pursuant to clause (c) above shall not include such amounts to the extent constituting Excess First Lien Obligations.
First Lien Obligations Payment Date means the first date on which (i) the First Lien Obligations (other than those that constitute Unasserted Contingent Obligations) have been indefeasibly 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, 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).
Examples of First Lien Obligations Payment Date in a sentence
The Second Lien Agent, for and on behalf of itself and the Second Lien Secured Parties, agrees that no payment to either First Lien Agent or any First Lien Secured Party pursuant to the provisions of this Agreement shall entitle the Second Lien Agent or any Second Lien Secured Party to exercise any rights of subrogation in respect thereof until the First Lien Obligations Payment Date.
Subject to Section 6.6, this Agreement shall continue to be effective, and shall not be revocable by any party hereto, until the First Lien Obligations Payment Date shall have occurred; provided, that Section 5.1 shall continue in effect with respect to the rights and obligations of the parties with respect to Excess First Lien Obligations.
More Definitions of First Lien Obligations Payment Date
First Lien Obligations Payment Date means the date of the Discharge of Senior Obligations as defined in the First Lien Intercreditor Agreement.
First Lien Obligations Payment Date the first date on which (i) the First Lien Obligations (other than those that constitute Unasserted Contingent Obligations) have been indefeasibly paid in cash in full (or, if applicable, cash collateralized or defeased in accordance with the terms of the applicable First Lien Documents), (ii) all commitments to extend credit under the applicable First Lien Documents have been terminated, (iii) there are no outstanding letters of credit or similar instruments issued under the applicable First Lien Documents (other than such as have been cash collateralized or defeased in accordance with the terms of the applicable First Lien Documents), (iv) each Agent has delivered a written notice to the First Lien Representative stating that the events described in clauses (i), (ii) and (iii) have occurred to the satisfaction of such Agent with respect to its corresponding First Lien Loan Agreement, and (v) the First Lien Representative has delivered to the Second Lien Representative and the Third Lien Representative written notice stating that the events described in clauses (i), (ii) and (iii) have occurred to the satisfaction of the Agents. For avoidance of doubt, a Refinancing of First Lien Obligations shall not give rise to the First Lien Obligations Payment Date unless the terms thereof expressly so provide with reference to this Agreement.
First Lien Obligations Payment Date means the first date on which (i) the First Lien Obligations (other than those that constitute Unasserted Contingent Obligations) have been indefeasibly paid in cash in full (or cash collateralized or defeased in accordance with the terms of the First Lien Intercreditor and Collateral Agency Agreement Documents), (ii) all commitments, if any, 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 Obligations Payment Date means the “Termination Date” as defined in the First Lien Credit Agreement (or equivalent term under any document governing any other First Lien Facility, it being understood that notwithstanding any prior occurrence of a First Lien Obligations Payment Date, if subsequently any First Lien Facility shall be in effect or any Indebtedness thereunder shall be outstanding, and in each case if such First Lien Facility, any Indebtedness outstanding thereunder and any Liens securing such Indebtedness are permitted under this Agreement, from and after the effectiveness of such First Lien Facility, no First Lien Obligations Payment Date shall be deemed to have occurred for the purposes hereof).
First Lien Obligations Payment Date means the first date on which (a) payment in full in cash of the principal of and interest (including interest accruing on or after the commencement of any Insolvency or Liquidation Proceeding at the rate provided for in the respective First Priority Document, whether or not such interest would be allowed in any such Insolvency or Liquidation Proceeding) and premium, if any, on all Credit Facility Obligations and termination of all commitments of the First Priority Creditors to lend or otherwise extend credit under the First Priority Documents, and (b) arrangements satisfactory to the applicable Cash Management Bank or Hedge Bank have been made with respect to the satisfaction of any outstanding Cash Management Obligations and Secured Hedge Obligations.
First Lien Obligations Payment Date means the first date on which (a) the First Lien Obligations (other than contingent indemnification obligations related to any which claim that has not been asserted or is the subject of an investigation) have been paid in full in cash, (b) all commitments to extend credit under the First Lien Credit Documents have been terminated, (c) adequate provision has been made for any contingent or unliquidated First Lien Obligations related to claims, causes of action or liability that have been asserted against the First Lien Secured Parties for which indemnification is required under the First Lien Credit documents and (d) the First Lien Collateral Agent has delivered a written notice to the Second Lien Collateral Agent stating that the events described in clauses (a), (b) and (c) have occurred to the satisfaction of the First Lien Collateral Agent, which notice shall be delivered by the First Lien Collateral Agent promptly after the occurrence of the events described in clauses (a), (b), and (c).