Highest Priority Class definition

Highest Priority Class means (i) the Class A Loans, for so long as they are outstanding, and (ii) if the Class A Loans are no longer outstanding, all amounts owed to the Class A Lenders pursuant to the Loan Documents have been paid in full and the Class A Commitment has been terminated, the Class B Loans, if any; provided, that if the Class A Loans and Class B Loans have been exchanged for Component Loans, the Highest Priority Class shall be (i) Component Loan A, for so long as such class is outstanding, and (ii) if Component Loan A is no longer outstanding, then Component Loan B, for so long as such class is outstanding, and (iii) if Component Loan B is no longer outstanding, then Component Loan C, for so long as such class is outstanding, and (iv) if Component Loan C is no longer outstanding, then Component Loan D, for so long as such class is outstanding, and (v) if Component Loan D is no longer outstanding, then Component Loan E, for so long as such class is outstanding.

Highest Priority Class means (i) the Class A Notes, for so long as they are Outstanding and the Class A Commitment has not been terminated, and (ii) if the Class A Notes are no longer Outstanding and all amounts owed to the Class A Noteholders and the Class A Note Purchaser pursuant to the Basic Documents have been paid in full and the Class A Commitment has been terminated, the Class B Notes.

Highest Priority Class. The Class A-1B Notes, or if the Class A-1B Notes are no longer Outstanding, the Class of Debt that is rated by S&P on such date and ranks higher in right of payment than each other Class of Debt in the Debt Payment Sequence.

Examples of Highest Priority Class in a sentence

• Upon any such resignation, the Majority Lenders of the Highest Priority Class shall have the right, in consultation with the Borrower, to appoint a successor.

• Neither Agent shall be liable for any action taken or not taken by it with the consent or at the request of the Majority Lenders of the Highest Priority Class or in the absence of its own gross negligence or willful misconduct.

• If any party to this Agreement is unable to sign any amendment or supplement due to itsdissolution, winding up or comparable circumstances, then the consent of the Administrative Agent and the Majority Lenders of the Highest Priority Class shall be sufficient to amend this Agreement without such party’s signature.

• The awards presentation is made during the Administrative Staff Reception.

• If any party to this Agreement is unable to sign any amendment or supplement due to its dissolution, winding up or comparable circumstances, then the consent of the Administrative Agent and the Majority Lenders of the Highest Priority Class shall be sufficient to amend this Agreement without such party’s signature.

• The parties hereto hereby acknowledge that the Administrative Agent and the Majority Lenders of the Highest Priority Class shall each have the right to enforce directly against the Seller the Seller’s repurchase and indemnity obligations pursuant to this Section 3.2 and Section 8.3.

• The Administrative Agent and the Majority Lenders of the Highest Priority Class may waive in writing any default by the Servicer in the performance of its obligations under this Agreement and the consequences thereof.

• The parties hereto hereby acknowledge that the Administrative Agent and the Majority Lenders of the Highest Priority Class shall each have the right to enforce directly against the Seller the Seller’s repurchase and indemnity obligations pursuant to this S ection 3.2 and S ection 8.3.

More Definitions of Highest Priority Class

Highest Priority Class means for so long as the principal amount of the Class A Notes has not been reduced to zero, the Class A Notes, acting together as a single Class, and thereafter, the Class B Notes.

Highest Priority Class. The senior most Class or Classes of Debt Outstanding.

Highest Priority Class means the Class A Notes until the Outstanding Amount of the Class A Notes has been reduced to zero and thereafter, the Class B Notes.