First Priority Secured Party definition

First Priority Secured Party means JPMorgan Chase Bank, N.A. as administrative agent under the Senior Credit Facility or any other administrative agent under a Senior Credit Facility that is a First Priority Obligation;

First Priority Secured Party means (a) each First Priority Creditor (and any affiliate of such First Priority Creditor to which any Cash Management Obligation is owed), (b) each “Issuing Bank” (as defined in the First Priority Agreement), (c) the First Priority Representative, (d) each counterparty to any Swap Agreement the obligations under which constitute Hedging Obligations, (e) the beneficiaries of each indemnification obligation undertaken by any Loan Party under any First Priority Document and (f) the successors and assigns of each of the foregoing.

First Priority Secured Party means each Person holding First Priority Obligations, including the First Priority Representative.

Examples of First Priority Secured Party in a sentence

• With respect to each Type of Common Collateral, nothing contained herein shall prohibit or in any way limit the First Priority Representative or any other First Priority Secured Party from objecting in any Insolvency Proceeding or otherwise to any action taken by any Second Priority Secured Party or Third Priority Secured Party other than any action taken by such Second Priority Secured Party or Third Priority Secured Party, as the case may be, that is expressly permitted by this Agreement.

• Each First- Priority Secured Party acknowledges that it has, independently and without reliance upon the Intercreditor Agent, any Authorized Representative or any other First-Priority Secured Party or any of their Affiliates and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Secured Credit Documents.

• The College is quite excited to receive the grant and get work underway.

• Except as provided in Section 3.6, if any First Priority Secured Party or Second Priority Secured Party shall enforce its rights or remedies in violation of the terms of this Agreement, no Loan Party shall be entitled to use such violation as a defense to any action by any First Priority Secured Party or Second Priority Secured Party, nor to assert such violation as a counterclaim or basis for set off or recoupment against any First Priority Secured Party or Second Priority Secured Party.

• None of the Second Priority Secured Parties shall oppose or seek to challenge any claim by any First Priority Secured Party for allowance in any Insolvency Proceeding of First Priority Obligations consisting of Post-Petition Interest or indemnities, without regard to the existence of the Liens of the Second Priority Secured Parties on the Common Collateral.

More Definitions of First Priority Secured Party

First Priority Secured Party means (a) each First Priority Creditor (and any affiliate of such First Priority Creditor to which any Cash Management Obligation is owed), (b) each “Issuing Bank” (as defined in the First Priority Documents), (c) the First Priority Representative, (d) each counterparty to any Swap Agreement with a Loan Party the obligation under which constitute Hedging Obligations, (e) the beneficiaries of each indemnification obligation undertaken by any Loan Party under any First Priority Document, (f) each counterparty to any Platinum Lease with a Loan Party the obligations under which constitute Platinum Lease Obligations and (g) the successors and assigns of each of the foregoing.

First Priority Secured Party means (i) with respect to any ABL-Priority Collateral, any of the ABL Secured Parties and (ii) with respect to any Non-ABL Priority Collateral, any of the Term Loan Secured Parties.

First Priority Secured Party means the First Lien Note Secured Parties, the Revolving Credit Secured Parties and any other holder of First Priority Obligations.

First Priority Secured Party or “First-Priority Secured Parties” or (as applicable) “Credit Agreement Secured Party”, “Credit Agreement Secured Parties”, “Other First-Priority Secured Party” or “Other First-Priority Secured Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Controlling Authorized Representative hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with Holdings or any Subsidiary of Holdings or other Affiliate thereof as if such Person were not the Controlling Authorized Representative hereunder and without any duty to account therefor to any other First-Priority Secured Party.

First Priority Secured Party or “First-Priority Secured Parties” or (as applicable) “2011 Credit Agreement Secured Party”, “2011 Credit Agreement Secured Parties”, “2014 Credit Agreement Secured Party”, “2014 Credit Agreement Secured Parties”, “Other First-Priority Secured Party” or “Other First-Priority Secured Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Intercreditor Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Company or any Subsidiary of the Company or other Affiliate thereof as if such Person were not the Intercreditor Agent hereunder and without any duty to account therefor to any other First-Priority Secured Party. (b) (i) The Intercreditor Agent may resign at any time upon 30 days’ notice to the Authorized Representatives for the Controlling Secured Parties and the Company. Upon receipt of any such notice of resignation, the Controlling Secured Parties shall have the right pursuant to an Act of Required Debtholders, with the prior consent of the Company (except during the occurrence or continuation of an Event of Default, during which no consent shall be required), to appoint a successor. (ii) If no such successor shall have been so appointed by an Act of Required Debtholders and shall have accepted such appointment within 30 days (or, in the event that the Intercreditor Agent determines that it is subject to any conflict of interest, or, in the case of Barclays Bank PLC, if it has resigned or been removed from its role as 2011 Administrative Agent or 2014 Administrative Agent, with 5 business days), after the retiring Intercreditor Agent gives notice of its resignation, then the retiring Intercreditor Agent may, but shall not be required to, with the prior consent of the Company (such consent not to be unreasonably withheld or delayed), on behalf of the Controlling Secured Parties, appoint a successor Intercreditor Agent; provided, that if the Intercreditor Agent shall notify the Company and the Authorized Representatives that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Intercreditor Agent shall be discharged from its duties and obligations hereunder and (2) all payments, communications an...

First Priority Secured Party or any other Person includes any successor in interest to it and any permitted transferee, permitted purchaser or permitted assignee of it;

First Priority Secured Party has the meaning given to the term “First Priority Secured Party” in the Intercreditor Agreement.