First Priority Secured Debt definition

First Priority Secured Debt means Debt of the Borrower secured by a first-priority lien on the Creditor Group Collateral (subject to the limitations set forth in Section 5.10(p)), provided that Debt owed to an Affiliate of the Borrower shall not be First-Priority Secured Debt.
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First Priority Secured Debt means Debt of the Company secured by a first-priority lien on the Collateral pursuant to the First-Priority Collateral Documents; provided that Debt owed to an Affiliate of the Company shall not be First-Priority Secured Debt.
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First Priority Secured Debt means each of (i) the AerCap Secured Obligations, (ii) the Convertible Debentures and (iii) each series of Additional First Priority Secured Debt.
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Examples of First Priority Secured Debt in a sentence

  • If none of the Notes Secured Parties exercise such right within the time periods set forth above, the First Priority Secured Parties shall have no further obligations pursuant to this Section 5.04 for such Purchase Event and may take any further actions in accordance with the First Priority Secured Debt Documents and this Agreement.

  • The Issuer and each First Priority Secured Debt Representative hereby consents to any assignment pursuant to this Section 5.04 to the extent it has a consent or similar approval right under the assignment provisions of the relevant First Priority Secured Debt Documents.

  • The First Priority Secured Debt Representatives, the First Priority Secured Parties, the Notes Secured Debt Representative and the Notes Secured Parties shall have no duty to advise any other party hereunder of information known to it or them regarding such condition or any such circumstances or otherwise.

  • In the event of any conflict between the provisions of this Agreement and the provisions of any First Priority Secured Debt Document (which, in respect of the Relevant Leases, shall be to the extent of the AerCap Secured Obligations) or any Notes Secured Debt Document, the provisions of this Agreement shall govern.

  • The First Priority Secured Debt Representatives, the First Priority Secured Parties, and the Notes Secured Parties shall each be responsible for keeping themselves informed of (a) the financial condition of the Issuer and the Subsidiaries and all endorsers or guarantors of the First Priority Secured Obligations or the Notes Secured Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the First Priority Secured Obligations or the Notes Secured Obligations.

  • This Agreement shall be binding upon the First Priority Secured Debt Representatives, the First Priority Secured Parties, the Notes Secured Debt Representative, the Notes Secured Parties, the Issuer, the other Obligors party hereto, the Guarantors party hereto and their respective successors and assigns.

  • All Notes of a Series shall be identical except as may be set forth in a Notes Supplemental Indenture entered into by the Issuer, the Guarantors, the Trustee and the Collateral Agents pursuant to Section 9.01 and detailing the adoption of the terms thereof, provided that other than in respect of the 2029 Notes and the 2030 Notes, any such Series must constitute a Series of First Priority Secured Debt.

  • Notwithstanding the foregoing, no provision in this Agreement shall be construed to prevent or impair the rights of any First Priority Secured Debt Representative to enforce this Agreement (including the priority of the Liens securing the First Priority Secured Obligations as provided in Section 2.01) or any of the First Priority Secured Debt Documents.

  • If one or more of the Notes Secured Parties exercise such purchase right, it shall be exercised pursuant to documentation mutually acceptable to each of the applicable First Priority Secured Debt Representatives and the Trustee (as directed by the Notes Secured Parties).


More Definitions of First Priority Secured Debt

First Priority Secured Debt means any Debt of any Issuer or Guarantor that is secured by a Lien on the Collateral that ranks senior in priority to the Lien securing the notes in accordance with the terms of the First Lien/Second Lien Intercreditor Agreement.
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Related to First Priority Secured Debt

  • First Priority Secured Parties means, with respect to each Type of Common Collateral, the First Priority Representative and the holders of the First Priority Obligations.

  • 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.

  • Permitted Priority Liens means (i) Liens permitted under Section 9.02(c), (d), (e), (f), (g), and (j), and (ii) Liens permitted under Section 9.02(b) provided that such Liens are also of the type described in Section 9.02(c), (d), (e), (f), (g), and (j).

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

  • First Priority Documents means the First Priority Agreement, each First Priority Security Document and each First Priority Guarantee.

  • 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 means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document, that such Lien is the only Lien to which such Collateral is subject, other than any Permitted Lien.

  • First Priority Obligations means (a) with respect to the Existing First Priority Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement and (b) with respect to each other First Priority Agreement, all “Obligations” of each Loan Party as defined in such First Priority Agreement, and shall in any event include (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable First Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any First Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any Second Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Priority Indebtedness means the sum, without duplication, of all Indebtedness of the Guarantor or any of its Subsidiaries secured by Liens other than Permitted Liens.

  • Consolidated First Lien Secured Debt means Consolidated Total Debt as of such date that is not Subordinated Indebtedness and is secured by a Lien on all of the Collateral that ranks on an equal priority basis (but without regard to the control of remedies) with Liens on all of the Collateral securing the Obligations.

  • Secured Debt means Debt of the Company or its Subsidiaries secured by an Encumbrance on the property of the Company or its Subsidiaries.

  • First Priority means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document, that such Lien is the only Lien to which such Collateral is subject, other than any Permitted Lien.