First Priority Collateral definition

First Priority Collateral means all assets, whether now owned or hereafter acquired by the Company, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

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First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

First Priority Collateral means, collectively, all “Collateral”, as defined in each of the First Priority Debt Agreement and/or in any other First Priority Debt Document, including all property of any Grantor now or at any time hereafter subject to Liens securing any First Priority Claims.

Examples of First Priority Collateral in a sentence

The parties hereto agree that it is their intention that the First Priority Collateral and the Second Priority Collateral be identical.
In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control as between the First Priority Collateral Trustee, the First Priority Indenture Trustee and any other First Priority Claimholders and the Second Priority Collateral Trustee, the Second Priority Indenture Trustee and any other Second Priority Claimholders.
The First Priority Collateral Agent is hereby authorized to make any such endorsements as agent for the Second Priority Collateral Agent or any such Second Priority Claimholders.
Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the First Priority Representative or the First Priority Secured Parties may have with respect to the First Priority Collateral.
The Grantors, the Lender, the Lender Agent and the First Priority Collateral Agent each hereby acknowledge and agree that, except as herein expressly amended, the Security Agreement is ratified and confirmed in all respects and shall remain in full force and effect in accordance with its respective terms.

More Definitions of First Priority Collateral

First Priority Collateral means, with respect to (a) the Term Loan Agents and the Term Loan Lenders, the ABL Priority Collateral and (b) the ABL Agent and the ABL Lenders, the Term Loan Priority Collateral.

First Priority Collateral means all of the Collateral with respect to which a Lien is granted as security for any First Priority Obligations.

First Priority Collateral means the First Lien Collateral, the Initial Other First-Priority Collateral and all of the assets of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any Other First-Priority Obligations (other than the First Lien Obligations and the Initial Other First Priority Obligations.

First Priority Collateral means all of the assets of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any First-Priority Obligation.

First Priority Collateral means all of the assets of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted or held as security for any First Priority Claim.

First Priority Collateral means all “Collateral” or “Pledged Collateral” or similar term as defined in any First Priority Debt Document and all other property and assets of the Company or any other Grantor, whether now owned or hereafter acquired, on which a Lien is, or is purported to or required to be granted, to any First Priority Representative pursuant to the applicable First Priority Debt Documents (including pursuant to this Agreement) to secure any First Priority Obligation, regardless of the enforceability of, any actual or alleged avoidance of, any actual or alleged subordination (equitable or otherwise) of or any other actual or alleged defects whatsoever with respect to any such Lien, and shall include any property or assets subject to replacement Liens or adequate protection Liens in favor of any First Priority Secured Party.

First Priority Collateral means the collateral that secures the Obligations under the New Senior Secured Revolving Credit Facility, except to the extent that any such collateral constitute proceeds of the Collateral securing the Second Priority Claims pursuant to the terms of the Intercreditor Agreement.