First Priority Designated Agent definition

First Priority Designated Agent means the Credit Agreement Agent or, if the Credit Agreement Agent and any Other First Priority Lien Obligations Agent shall have entered into a First Lien Intercreditor Agreement the “Applicable Authorized Representative” as defined therein.

First Priority Designated Agent has the meaning assigned to such term in the Intercreditor Agreement.

First Priority Designated Agent means (i) the Senior Secured Credit Facilities Collateral Agent, until such time as the discharge of First Priority Credit Obligations has occurred in accordance with the First Priority/Second Priority Intercreditor Agreement, and (ii) thereafter, the First Priority Collateral Agent serving as the “Applicable Authorized Representative” (as such term or similar term is defined in the First Priority Intercreditor Agreement).

Examples of First Priority Designated Agent in a sentence

• 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.

• The First Priority Designated Agent and the First Priority Collateral Agent have no obligation to follow instructions from any Second Priority Agent in contravention of this Agreement.

• 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.

• 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.

• The Borrower agrees that, if any Subsidiary of the Borrower shall become a Grantor after the date hereof, it will cause such Subsidiary to become a party hereto by executing a signature page to this Agreement and delivering such executed signature page to the First Priority Designated Agent.

More Definitions of First Priority Designated Agent

First Priority Designated Agent means (i) the First Priority Collateral Agent, until such time as the Discharge of First Lien Obligations has occurred in accordance with the Junior Intercreditor Agreement, and (ii) thereafter, the applicable Designated Junior Priority Representative (as such term or similar term is defined in the Junior Intercreditor Agreement).

First Priority Designated Agent means (i) the Credit Agreement Agent, until such time as the Discharge of Credit Agreement Obligations has occurred, and (ii) thereafter, the First Lien Agent serving as the “Applicable Authorized Representative” (as such term or similar term is defined in the First Lien Parity Intercreditor Agreement). When any First Lien Agent other than the Credit Agreement Agent becomes the Applicable Authorized Representative under such First Lien Parity Intercreditor Agreement it shall send a written notice thereof to the Second Priority Designated Agent and the Grantors.

First Priority Designated Agent means (i) the Senior Credit Facilities Collateral Agent, until such time as the Discharge of First Lien Credit Agreement Obligations has occurred in accordance with the First Priori- ty/Second Priority Intercreditor and Subordination Agreement, and (ii) thereafter, the applicable Designated Senior Priority Representative (as such term or similar term is defined in the First Priority/Second Priority Intercreditor and Subordination Agreement).

First Priority Designated Agent means such agent or trustee as is designated “First-Priority Designated Agent” by Senior Lenders holding a majority in principal amount of the Senior Lender Claims then outstanding; it being understood that as of the date of this Agreement and for so long as any Obligations under the Credit Agreement remain outstanding, the Credit Agreement Agent shall be so designated First-Priority Designated Agent.

First Priority Designated Agent means such agent or trustee as is designated “First Priority Designated Agent” by the Senior Creditors pursuant to the terms of the Senior Creditor Documents; provided that (i) at any time that any Credit Agreement Obligations are the only Senior Creditor Claims outstanding, the Credit Agreement Agent shall be the First Priority Designated Agent and (ii) if a First Lien Intercreditor Agreement (as defined in the Senior Collateral Agreement (or the Equivalent Provision thereof)) among the First Lien Agents is then in effect, the Applicable Authorized Representative (as defined therein) (or the Equivalent Provision thereof) shall be the First Priority Designated Agent.

First Priority Designated Agent means (i) for so long as any Obligations under the Credit Agreement remain outstanding, the Credit Agreement Agent and (ii) thereafter, such agent or trustee as is designated “First Priority Designated Agent” by Senior Lenders holding a majority in principal amount of the Senior Lender Claims then outstanding.

First Priority Designated Agent by Senior Lenders holding a majority in principal amount of the Senior Lender Claims then outstanding.