Indenture Priority Collateral definition

Indenture Priority Collateral means the “Indenture Priority Collateral”, as that term is defined in the Intercreditor Agreement.
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Indenture Priority Collateral means the following assets, whether now owned or hereafter acquired, by the Company or any other Grantor, in which a Lien is granted or purported to be granted to any Indenture Secured Party as security for any Indenture Obligation:
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Indenture Priority Collateral means the Cash Collateral maintained in the Renovation Reserve Account as of the Closing Date, together with interest and earnings thereon; provided that it is understood and agreed that such Cash Collateral is intended to be utilized in the renovation of the real and personal property constituting Lender Priority Collateral and once so utilized and withdrawn from the Renovation Reserve Account, whether before or after the commencement of an Insolvency Proceeding, shall constitute Lender Priority Collateral.
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Examples of Indenture Priority Collateral in a sentence

  • Each of the Indenture Agent and the ABL Agent shall be named as additional insured and loss payee under any insurance policies maintained from time to time by any Grantor with respect to the Indenture Priority Collateral (provided that such policy shall provide that the Indenture Agent and the ABL Agent shall be so named as their interests may appear).

  • The ABL Agent, on behalf of itself and the other ABL Secured Parties, further agrees that, prior to the Indenture Obligations Payment Date, none of them shall assert or enforce any claim under Section 506(b) or 506(c) of the Bankruptcy Code or otherwise that is senior to or on a parity with the Indenture Liens for costs or expenses of preserving or disposing of any Indenture Priority Collateral.

  • Until the Indenture Obligations Payment Date has occurred, the Indenture Agent will have the sole and exclusive right, to the extent provided in the Indenture, (i) to adjust or settle any insurance policy or claim covering the Indenture Priority Collateral in the event of any loss thereunder and (ii) to approve any award granted in any condemnation or similar proceeding affecting the Indenture Priority Collateral.

  • Until the Indenture Obligations Payment Date, the ABL Agent agrees, on behalf of itself and the other ABL Secured Parties, that none of them will seek relief from the automatic stay or from any other stay in any Insolvency Proceeding or take any action in derogation thereof, in each case in respect of any Indenture Priority Collateral, without the prior written consent of the Indenture Agent.

  • Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of the Indenture Priority Collateral upon foreclosure, to incur expenses in connection with such sale or disposition, and to exercise all the rights and remedies of a secured lender under the Uniform Commercial Code and under the comparable law of any applicable jurisdiction and of a secured creditor under Bankruptcy Laws of any applicable jurisdiction.

  • Any of the Intellectual Property constituting Indenture Priority Collateral that is sold, transferred or otherwise disposed of (whether pursuant to an Enforcement Action or otherwise) prior to the License Expiration Date will be subject to the rights of the ABL Agent as set forth in this Section 4.4(b).

  • So long as the Collateral Agent has not sent a Standstill Notice to the Agent, the Agent may exercise its rights or remedies in respect of the Indenture Priority Collateral under the Loan Documents after the 10th Business Day following receipt by the Collateral Agent of a Notice of Intent to Exercise (as defined below).

  • The Agent, on behalf of itself and the Lenders, agrees that all distributions that the Agent or any Lender receives in any Insolvency Proceeding on account of the Indenture Priority Collateral, the Indenture Exclusive Collateral or Proceeds thereof shall be held in trust by such Person and turned over to the Collateral Agent for application in accordance with Section 4.02 of this Agreement.

  • Further, the Revolver Agent, on behalf of the Revolver Lenders, holds a first lien interest on all Prepetition Collateral other than the Indenture Priority Collateral (the “Revolver Priority Collateral”) and the Indenture Trustee, on behalf of the Senior Secured Noteholders, holds a second lien interest on all the Revolver Priority Collateral.

  • Unless and until the Discharge of Indenture Obligations has occurred, all proceeds of any such policy and any such award if in respect to the Indenture Priority Collateral shall be applied in accordance with Section 4.1 and thereafter as determined appropriate by the Indenture Agent, in its reasonable discretion.


More Definitions of Indenture Priority Collateral

Indenture Priority Collateral means the assets and properties of the Borrowers and the Obligors that are subject to the security interests and liens of the Collateral Agent, for the benefit of itself and the other Indenture Parties, pursuant to the terms of the Indenture Documents as in effect from time to time to secure the Indenture Debt, other than the Revolving Loan Collateral and the Term Loan Collateral.
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Indenture Priority Collateral means all of the assets of any Grantor, whether now owned or hereafter existing and whether real, personal or mixed, (other than any Excluded Assets or the Credit Facility Priority Collateral).
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Indenture Priority Collateral means all existing and future property and assets owned by the Company and each other Grantor (other than Excluded Assets (as defined below) and the Credit Facility Priority Collateral). The Indenture Priority Collateral shall include, but will not be limited to, (i) the Company's and each other Grantor's real property, equipment, machinery, apparatus, motor vehicles, fittings, furniture, furnishings and fixtures, parts and accessories of the equipment, and all replacements and substitutions therefor or accessions thereto (provided that, for the avoidance of doubt, this clause (i) does not extend to the foregoing items that constitute Inventory of the Company or any other Grantor, or items held for sale or lease by the Company or any other Grantor that in each case shall constitute Credit Facility Priority Collateral), (ii) the Company's and each other Grantor's trademarks, licenses, trade names, patents, trade secrets, domain names and copyrights, (iii) general intangibles necessary for the operation of the equipment, machinery and motor vehicles (not constituting Inventory), including warranties and operational manuals and similar items, (iv) Capital Stock of each Subsidiary (other than any Discontinued Subsidiary) owned by the Company or any such Grantor, (v) supporting obligations securing or guaranteeing licenses of intellectual property granted to the Company or any such Grantor, and (vi) all identifiable proceeds of each of the foregoing (including insurance proceeds, eminent domain proceeds and condemnation proceeds for loss of the foregoing).
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Related to Indenture Priority Collateral

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Second Priority Collateral Documents means the Initial Second Priority Collateral Documents and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any Grantor for purposes of providing collateral security for any Second Priority Debt Obligation.

  • 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.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Senior Collateral Documents means the Security Agreement and the other “Collateral Documents” as defined in the Credit Agreement, the First Lien Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • ABL Collateral Documents means all “Security Documents” as defined in the Original ABL Credit Agreement, and all other security agreements, mortgages, deeds of trust and other collateral documents executed and delivered in connection with any ABL Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted securing any ABL Obligations or under which rights or remedies with respect to such Liens are governed, in each case as the same may be amended, supplemented, waived or modified from time to time.

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • First Lien Collateral Documents means the “Security Documents” or “Collateral Documents” or similar term (as defined in the applicable First Lien Loan Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any First Lien Obligations or pursuant to which any such Lien is perfected.

  • ABL Collateral Agent means JPMorgan Chase Bank, N.A., in its capacity as collateral agent for the ABL Facility Secured Parties, together with its successors and permitted assigns under the ABL Facility Agreement and the ABL Facility Collateral Documents.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Second Lien Collateral Documents means the “Security Documents” or “Collateral Documents” (as defined in the applicable Second Lien Debt Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any Second Lien Obligations or pursuant to which any such Lien is perfected.

  • Discharge of Priority Lien Obligations means the occurrence of all of the following:

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

  • First Lien/First Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • Junior Priority Obligations means the Initial Junior Priority Obligations and any Additional Obligations constituting Junior Priority Debt.

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

  • Second Priority Debt means any Indebtedness of the Borrower or any other Grantor guaranteed by the Guarantors (and not guaranteed by any Subsidiary that is not a Guarantor), including the Initial Second Priority Debt, which Indebtedness and guarantees are secured by the Second Priority Collateral on a pari passu basis (but without regard to control of remedies, other than as provided by the terms of the applicable Second Priority Debt Documents) with any other Second Priority Debt Obligations and the applicable Second Priority Debt Documents which provide that such Indebtedness and guarantees are to be secured by such Second Priority Collateral on a subordinate basis to the Senior Debt Obligations (and which is not secured by Liens on any assets of the Borrower or any other Grantor other than the Second Priority Collateral or which are not included in the Senior Collateral); provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each Senior Debt Document and Second Priority Debt Document and (ii) except in the case of the Initial Second Priority Debt hereunder, the Representative for the holders of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying the conditions set forth in, Section 8.09 hereof. Second Priority Debt shall include any Registered Equivalent Notes and Guarantees thereof by the Guarantors issued in exchange therefor.