First Lien Pledged Collateral definition

First Lien Pledged Collateral has the meaning specified in the Pledge Agreement.
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First Lien Pledged Collateral has the meaning assigned to such term in Section 5.4(a).
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First Lien Pledged Collateral has the meaning set forth in SECTION 5.5 hereof.
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Examples of First Lien Pledged Collateral in a sentence

  • The duties or responsibilities of the First Lien Collateral Agent and the Collateral Trustee under this Section 5.4 shall be limited solely to holding the First Lien Pledged Collateral and the Second Lien Pledged Collateral, respectively, as bailee (and with respect to Deposit Accounts, agent) in accordance with this Section 5.4 and, in the case of the First Lien Collateral Agent, delivering the First Lien Pledged Collateral upon a Discharge of First Lien Obligations as provided in paragraph (d) below.

  • Each Grantor acknowledges and agrees to the delivery by First Lien Agent and each other First Lien Claimholder (and each such Person acting on behalf of any of the foregoing) to Second Lien Agent of any such First Lien Pledged Collateral and waives and releases First Lien Agent and the other First Lien Claimholders (and each such Person acting on behalf of any of the foregoing) from any liability as a result of such action.


More Definitions of First Lien Pledged Collateral

First Lien Pledged Collateral means “Pledged Collateral” as such term is defined in the First Lien Security Agreement.
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Related to First Lien Pledged Collateral

  • Pledged Collateral has the meaning assigned to such term in Section 2.01.

  • Junior Priority Obligations means the Original Second Lien Obligations and any Additional Obligations constituting Junior Priority Debt.

  • Shared Collateral means, at any time, Collateral in which the holders of two or more Series of First-Lien Obligations hold a valid and perfected security interest at such time. If more than two Series of First-Lien Obligations are outstanding at any time and the holders of less than all Series of First-Lien Obligations hold a valid and perfected security interest in any Collateral at such time, then such Collateral shall constitute Shared Collateral for those Series of First-Lien Obligations that hold a valid security interest in such Collateral at such time and shall not constitute Shared Collateral for any Series which does not have a valid and perfected security interest in such Collateral at such time.