First Out Lender definition

First Out Lender means any Lender, other than the Last Out Term Lenders in their capacity as such, that is owed a First Out Advance.

First Out Lender has the meaning specified therefor in the Agreement Among Lenders.

First Out Lender means any Lender to which any First Out Term Loan is owing.

Examples of First Out Lender in a sentence

• If any First Out Lender Party is required to disgorge any amounts it has received on account of the First Out Obligations and pay any such amount over to any Last Out Term Lender, the Last Out Term Lenders shall immediately reimburse such First Out Lender Party for the amount that such First Out Lender Party was required to disgorge, limited to the amount of distributions received by the Last Out Term Lenders on account of their Last Out Term Advances through the date of such disgorgement.

• Notwithstanding any failure by the Administrative Agent or any other Secured Party to perfect its security interests in the Collateral or any avoidance, invalidation or subordination by any third party or court of competent jurisdiction of the security interests in the Collateral, the priority and rights as between the First Out Lender Parties and the Last Out Term Lenders with respect to any proceeds of the Collateral shall be as set forth in this Agreement.

• Nothing in this Agreement shall be construed to limit or restrict the Administrative Agent, the First Out Lenders or the other First Out Lender Parties from in any way exercising any rights or remedies arising under the Loan Documents, or any documents or agreements executed by the Borrower or provided for under applicable law, except to the extent otherwise expressly provided in this Agreement.

• Until such time, all rights, remedies, and privileges with respect to the Advances and the other Obligations may be exercised only by the Administrative Agent on behalf of the First Out Lenders and the other First Out Lender Parties and without any requirement of consent or approval of the Last Out Term Lenders.

• This Agreement shall not be construed to create a fiduciary relationship between the Administrative Agent and the First Out Lender Parties, on the one hand, and any Last Out Term Lender, on the other hand.

More Definitions of First Out Lender

First Out Lender means a Lender with an outstanding First Out Term Loan Commitment or an outstanding First Out Term Loan.

First Out Lender means any Lender that has a First Out Pro Rata Share greater than zero; provided that each reference to a First Out Lender shall only be deemed to be made to a Lender in its capacity as having a First Out Commitment, First Out Advance or First Out Pro Rata Share of items pertaining thereto.

First Out Lender means any Lender Party other than the Last Out Lenders in their respective capacities as such.

First Out Lender means, at any time, any Lender that holds a First-Out Loan at such time.

First Out Lender means each “Lender” (or equivalent term) as defined in the Senior Credit Facility.

First Out Lender means any Bridge A Lender or Bridge B Lender.

First Out Lender means a Lender with a First Out Commitment or an outstanding First Out Term Loan.