First Lien Termination Date means the date on which the Discharge of Senior Obligations (as such term is defined in the Intercreditor Agreement) has occurred.

First Lien Termination Date has the meaning assigned such term in the Collateral Agency Agreement.

First Lien Termination Date means, subject to Section 5.7 of the Intercreditor Agreement, the date on which the Discharge of Senior Lender Claims occurs; provided that if, at any time after the First-Lien Termination Date, the Discharge of Senior Lender Claims is deemed not to have occurred pursuant to Section 5.7 of the Intercreditor Agreement, the First-Lien Termination Date shall automatically be deemed not to have occurred for all purposes of this Agreement (other than with respect to any actions taken prior to the date of incurrence and designation of any Future First-Lien Indebtedness as a result of the occurrence of such first Discharge of Senior Lender Claims).

Examples of First Lien Termination Date in a sentence

After the occurrence of the First Lien Termination Date, the Second Lien Agent shall have the exclusive right, subject to the rights of the Obligors under the Second Lien Documents, to settle and adjust claims in respect of Collateral under policies of insurance and to approve any award granted in condemnation or similar proceeding, or any deed in lieu of condemnation, in respect of the Collateral.
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All Collateral and proceeds thereof received by any First Lien Creditor prior to the First Lien Termination Date shall be applied to the First Lien Obligations, and all Collateral and all proceeds thereof received from and after the First Lien Termination Date shall be forthwith paid over, in the kind or funds and currency received with any necessary endorsements, to the Second Lien Creditors for application to the Second Lien Obligations (unless otherwise required by law or court order).
So long as the First Lien Termination Date has not occurred, the First Lien Agent shall have the exclusive right, subject to the rights of the Obligors under the First Lien Documents, to settle and adjust claims in respect of Collateral under policies of insurance 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 Termination Date

First Lien Termination Date means the date on which all First Lien Obligations have been Paid in Full.

First Lien Termination Date means, subject to Section 5.6 of the Intercreditor Agreement, the date on which the Discharge of Senior Lender Claims occurs.

First Lien Termination Date means the date that the First Lien Credit Agreement has been terminated and the security interest in the Collateral (as defined in the First Lien Credit Agreement) has been automatically released in accordance with Section 12.11 of the First Lien Credit Agreement.

First Lien Termination Date means, subject to Section 5.7 of the Second Lien Intercreditor Agreement, the date on which the Discharge of Senior Lender Claims occurs; provided that if, at any time after the First Lien Termination Date, the Discharge of Senior Lender Claims is deemed not to have occurred pursuant to Section 5.7 of the Second Lien Intercreditor Agreement, the First Lien Termination Date shall automatically be deemed not to have occurred for all purposes of this Agreement (other than with respect to any actions taken prior to the date of incurrence and designation of any new Senior Lender Claims as a result of the occurrence of such first Discharge of Senior Lender Claims).

First Lien Termination Date means the date on which all Indebtedness and other obligations in respect of Loans (as defined in the First Lien Credit Agreement) and any other Additional Senior Debt Obligations (as defined in the Intercreditor Agreement) shall have been Paid in Full (as defined in the First Lien Credit Agreement).

First Lien Termination Date has the meaning assigned in the Intercreditor Agreement.

First Lien Termination Date means the date on which all First Lien Debt have been Discharged.