First Lien Security Agent definition

First Lien Security Agent shall have the meaning set forth in the recitals hereto and includes any (a) New First Lien Agent to the extent set forth in Section 3.4(j) and (b) Additional First Lien Obligations Agent.

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First Lien Security Agent means each of (a) the First Lien Credit Agreement Security Agent, (b) any New First Lien Agent to the extent set forth in Section 3.3(g) and (c) any Additional First Lien Obligations Agent.

First Lien Security Agent has the meaning assigned to that term in the Recitals to this Agreement.

Examples of First Lien Security Agent in a sentence

The First Lien Secured Parties shall be deemed to have irrevocably appointed the Directing First Lien Security Agent as their exclusive agent hereunder.
All notices to the First Lien Secured Parties and the Second Lien Secured Parties permitted or required under this Agreement shall also be sent to the Directing First Lien Security Agent and the Directing Second Lien Security Agent, respectively.
Each First Lien Security Agent, on behalf of itself and the other First Lien Secured Parties and the Second Lien Security Agent, on behalf of itself and the other Second Lien Secured Parties, hereby irrevocably waives any defense based on the adequacy of a remedy at law and any other defense which might be asserted to bar the remedy of specific performance in any action which may be brought by any First Lien Security Agent or Second Lien Security Agent, as the case may be.
Unless and until the Discharge of First Lien Obligations has occurred, the Directing First Lien Security Agent shall have the sole and exclusive right, subject to the rights of the Grantors under the First Lien Documents, to adjust settlement for any Insurance policy covering the Notes Priority Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) in respect of the Notes Priority Collateral.
If the First Lien Security Agent, any First Lien Secured Party, the Second Lien Security Agent or any Second Lien Secured Party shall, at any time, receive any Proceeds of any such Insurance policy or any such award or payment in contravention of this Section 4.4(c), it shall pay such Proceeds over to the Revolving Facility Agent in accordance with the terms of Section 4.3(a).
If prior to the date of Discharge of First Lien Obligations any Second Lien Security Agent or any Second Lien Secured Party shall, at any time, receive any Proceeds of any such Insurance policy or any such award or payment in contravention of this Section 3.3(b), it shall pay such Proceeds over to the First Lien Security Agent in accordance with the terms of Section 3.2.
The Revolving Facility Agent is hereby authorized to make any such endorsements as agent for the Directing First Lien Security Agent, any such First Lien Secured Parties, the Directing Second Lien Security Agent and any such Second Lien Secured Parties.
Each of the First Lien Security Agent, the Second Lien Security Agent and the Revolving Facility Agent may demand specific performance of this Agreement.
Each First Lien Security Agent, on behalf of itself and the other First Lien Secured Parties, acknowledges and agrees that the Second Lien Security Agents and the Second Lien Secured Parties have made no express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the Second Lien Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon.
Unless and until the Discharge of First Lien Obligations has occurred, the Directing First Lien Security Agent shall have the sole and exclusive right, subject to the rights of the Grantors under the First Lien Documents, to adjust settlement for any Insurance policy covering the Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) in respect of the Collateral.

More Definitions of First Lien Security Agent

First Lien Security Agent has the meaning assigned to such term in the Intercreditor Agreement.

First Lien Security Agent shall have the meaning set forth in the recitals hereto and includes any New First-Lien Agent to the extent set forth in Section 3.4(h).

First Lien Security Agent means the “Security Agent” as such term is defined in the First Lien Facility Agreement.

First Lien Security Agent means, prior to the Notes Discharge Date, the Initial First Lien Security Agent (or any successor or assignee of it which has acceded as a party to this Agreement), or following the Notes Discharge Date, the relevant Security Agent party to this Agreement which holds prior ranking Security over the Charged Property.