Examples of First Priority Designated Agent in a sentence
If any Second Priority Agent or any Second Priority Secured Party shall, at any time, receive any proceeds of any such insurance policy or any such award in contravention of this Agreement, it shall pay such proceeds over to the First Priority Designated Agent in accordance with the terms of Section 4.2.
None of the Pledgors shall permit any other party to “control” (for purposes of Section 8-106 of the New York UCC (or any analogous provision of the Uniform Commercial Code in effect in the jurisdiction whose law applies)) any uncertificated securities that constitute Pledged Collateral other than the Collateral Agent, as agent for the Indenture Secured Parties, and the First Priority Designated Agent.
Section V concludes with discussion of the results and plans for future directions.
After the date hereof, any Subsidiary of the Borrower that becomes a Grantor and is not a party hereto shall become a party hereto by executing a signature page to this Agreement and delivering such executed signature page to the First Priority Designated Agent and the First Priority Collateral Agent.
If any amount payable to any of the Grantors under or in connection with any of the Article 9 Collateral that is in excess of $10,000,000 shall be or become evidenced by any promissory note or other instrument, such note or instrument shall be delivered to the Notes Collateral Agent or the First Priority Designated Agent, as applicable, pursuant to Section 4.05.