First Priority Collateral Trustee definition

First Priority Collateral Trustee means the collateral trustee under the First Priority Collateral Trust Agreement and any permitted successor thereto.
Sample 1Sample 2Sample 3
First Priority Collateral Trustee means HSBC Bank USA, National Association, as collateral trustee under the First Priority Collateral Trust Agreement and any permitted successor thereto.
Sample 1Sample 2
First Priority Collateral Trustee has the meaning assigned to that term in the Recitals to this Agreement.
Sample 1Sample 2

Examples of First Priority Collateral Trustee in a sentence

  • 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.

  • 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, the Second Priority Collateral Trustee, the Second Priority Indenture Trustee, and any other Second Priority Holders (as such terms are defined in the Intercreditor Agrement).

  • In the event that the First Priority Obligations are duly performed and indefeasibly satisfied, and due to such performance the Pledged Equity Interest is released by the First Priority Collateral Trustee pursuant to the terms of the First Priority Pledge Agreement and the First Priority Pledge Agreement ceases to be in force and effect (the “Condition Precedent”), this agreement shall become effective and in full force and effect.

  • Each of the Second Priority Indenture Trustee and the Second Priority Collateral Trustee, (each on behalf of itself and the other Second Priority Claimholders) and the First Priority Indenture Trustee and the First Priority Collateral Trustee (each on behalf of itself and the other First Priority Claimholders), hereby waive any right, privilege or power it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement.

  • Except as otherwise provided herein, the First Priority Collateral Trustee and the other First Priority Claimholders will be entitled to act under the First Priority Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate.

  • In the event that the First Priority Obligations are duly performed and indefeasibly satisfied, and due to such performance the Pledged Assets are released by the First Priority Collateral Trustee pursuant to the terms of the First Priority Floating Pledge Agreement and such First Priority Floating Pledge Agreement ceases to be in force and effect (the “Condition Precedent”), the floating lien pledge and security interest provided by this Agreement shall become effective and in full force and effect.

  • The obligations of each First Priority Guarantor under its First Priority Guarantee and this First Priority Indenture are in addition to and not in substitution for any other obligations to the First Priority Indenture Trustee, the First Priority Collateral Trustee, and to any of the First Priority Holders in relation to this First Priority Indenture, the First Priority Securities, and each other First Priority Document and any guarantees or security at any time held by or for the benefit of any of them.

  • The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights, privileges, powers and remedies of the First Priority Indenture Trustee, the First Priority Collateral Trustee and the other First Priority Claimholders on the one hand and the Second Priority Indenture Trustee, the Second Priority Collateral Trustee and the other Second Priority Claimholders on the other hand.

  • All payments received by the First Priority Collateral Trustee or any of the other First Priority Claimholders may be applied, reversed and reapplied, in whole or in part, to such part of the First Priority Obligations provided for in the First Priority Documents.

  • Without limiting the foregoing, neither the Second Priority Collateral Trustee, the Second Priority Indenture Trustee nor the other Second Priority Claimholders shall have any right, privilege or power to direct the First Priority Collateral Trustee, the First Priority Indenture Trustee or other First Priority Claimholders to exercise any rights, privileges, powers, or remedies with respect to the Collateral.


More Definitions of First Priority Collateral Trustee

First Priority Collateral Trustee means HSBC Bank USA,
Sample 1
First Priority Collateral Trustee means the First Priority Collateral Trustee under the First Collateral Trust Agreement.
Sample 1

Related to First Priority Collateral Trustee

  • 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.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Second Priority Collateral Documents means the Noteholder Collateral Documents and any other agreement, document or instrument pursuant to which a Lien is now or hereafter granted securing any Second Priority Claims or under which rights or remedies with respect to such Liens are at any time governed.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Collateral Trustee has the meaning set forth in the preamble.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • First Priority Lien means any Lien created by the First Priority Security Documents.

  • ABL Collateral Agent means the “Collateral Agent” as defined in the ABL Credit Agreement.

  • Notes Collateral Agent means such successor collateral agent, and the retiring Notes Collateral Agent’s appointment, powers and duties as the Notes Collateral Agent shall be terminated. After the retiring Notes Collateral Agent’s resignation hereunder, the provisions of this Section 12.08 shall continue to inure to its benefit and the retiring Notes Collateral Agent shall not by reason of such resignation be deemed to be released from liability as to any actions taken or omitted to be taken by it while it was the Notes Collateral Agent under this Indenture.

  • Trust Collateral Agent means such successor Person.

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services, in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate of such holder at the time of entry into such Hedging Obligations or Obligations in respect of cash management services.

  • First Priority Liens means all Liens that secure the First Priority Lien Obligations.

  • First Priority Secured Parties means the First Priority Representative, the First Priority Creditors and any other holders of the First Priority Obligations.

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Second Priority Liens means all Liens on the Second Lien Collateral to secure the Second Lien Obligations, whether created under the Second Lien Security Documents or acquired by possession, statute, operation of law, subrogation or otherwise.

  • First Lien Collateral Agent means the “Collateral Agent” as defined in the First Lien Credit Agreement.

  • Second Priority Lien means the Liens on the Second Priority Collateral in favor of Second Priority Debt Parties under Second Priority Collateral Documents.

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

  • Second Lien Collateral Agent means the “Collateral Agent” as defined in the Second Lien Credit Agreement.

  • Controlling Collateral Agent means (i) until the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Credit Agreement Collateral Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Notes Collateral Agent (acting on the instructions of the Applicable Authorized Representative).

  • First Lien Collateral Documents means the “Security Documents” or “Collateral Documents” or similar term (as defined in the applicable First Lien Loan Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any First Lien Obligations or pursuant to which any such Lien is perfected.