First Priority Trustee definition

First Priority Trustee means the trustee under the First Priority Indenture.

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First Priority Trustee has the meaning set forth in the recitals to this Agreement.

First Priority Trustee means U.S. Bank National Association, acting in its capacity as trustee for its benefit and for the benefit of the Holders of First Priority Notes under the First Priority Indenture and the Collateral Documents, together with its successors in such capacity.

Examples of First Priority Trustee in a sentence

No delay or omission by the First Priority Trustee or by any First Priority Holder of any First Priority Security to exercise any right or remedy arising upon any Event of Default shall impair the exercise of any such right or remedy or constitute a waiver of any such Event of Default.
Every right and remedy given by this Article V or by law to the First Priority Trustee or to the First Priority Holders may be exercised from time to time, and as often as may be deemed expedient, by the First Priority Indenture Trustee or by the First Priority Holders, as the case may be.
The Representative shall acknowledge the Liens on the Collateral securing the First Priority Secured Obligations and the Second Priority Secured Obligations and shall agree that it will not contest such Liens in any judicial or other proceeding and the First Priority Trustee and the Trustee will acknowledge the Liens on the Collateral securing such First Priority Pari Passu Indebtedness and shall agree that each will not contest such Liens in any judicial or other proceeding.
Nothing in this Agreement or in the other Loan Documents, expressed or implied, is intended to confer upon any party other than the parties hereto and thereto any rights, remedies, obligations or liabilities under or by reason of this Agreement or the other Loan Documents except that the holders of First Priority Notes and the First Priority Trustee are expressly made third party beneficiaries of any provision herein which provides rights in favor of such parties.
In furtherance of the foregoing, the First Priority Trustee, the First Priority Administrative Agent, the Second Priority Trustee and each other Authorized Representative, in each case, on behalf of itself in its capacity as an Authorized Representative of a Class of Secured Obligations and on behalf of the holders of such Class of Secured Obligations, hereby agrees to be bound by the provisions of Annex 1 to this Security Agreement.
In accordance with the terms of the First Priority Indenture, the Mortgagor has executed a guarantee (the "First Priority Guarantee") in favor of the First Priority Trustee and for the benefit of the holders of the Notes.
Second Priority Trustee hereby waives, to the fullest extent permitted by applicable law, any rights it may have to enjoin or otherwise obtain a judicial or administrative order preventing the Collateral Agent or First Priority Trustee from taking, or refraining from taking, any action with respect to all or any part of the Collateral.
None of the First Priority Collateral Agent, the Second Priority Collateral Agent, the First Priority Trustee or the Second Priority Trustee shall have any liability or responsibility for the actions or omissions of any other Secured Party, or for any other Secured Party’s compliance with (or failure to comply with) the terms of this Agreement.
In case an Event of Default specified in Section 7.01(7) or (8) with respect to the Borrower occurs, such principal, premium, if any, and interest with respect to all of the Loans and the First Priority Notes shall be due and payable immediately without any declaration or other act on the part of the Administrative Agent, the First Priority Trustee or the holders of the Loans or First Priority Notes.
After an amendment, supplement or waiver under this Section 10.08(b) becomes effective, the Borrower shall mail to the Holders and the First Priority Trustee a notice briefly describing the amendment, supplement or waiver; provided, however, the failure to give such notice to all Lenders or the First Priority Trustee, or any defect therein, will not impair or affect the validity of the amendment.

More Definitions of First Priority Trustee

First Priority Trustee means United States Trust Company of New York, as trustee under the First Priority Indenture.

First Priority Trustee has the meaning set forth in the preamble hereto.

First Priority Trustee. “Second Priority Secured Parties”, “Second Priority Trustee”, “Required Secured Parties”, or any similar terms shall, unless the context clearly otherwise indicates, apply to the Collateral Agent in its individual capacity. The Collateral Agent and its affiliates may accept deposits from, lend money to, and generally engage in any kind of banking, investment banking, trust or other business with any Grantor or any Affiliate or Subsidiary of any Grantor as if it were not performing the duties specified herein or in the other Secured Debt Documents, and may accept fees and other consideration from the Grantors for services in connection with the First Priority Indenture, the First Priority Term Loan Facility, the Second Priority Indenture and the other Secured Debt Documents and otherwise without having to account for the same to the Secured Parties.

First Priority Trustee means United States Trust Company of New York, not in its individual capacity but solely as trustee under the First Priority Indenture, and any successor trustee appointed thereunder.

First Priority Trustee means The Bank of New York Trust Company, NA, in its capacity as trustee under the First Priority Indenture, together with its successors and assigns in such capacity.