Intercreditor Action definition

Intercreditor Action has the meaning given to such term in Section 13.13.
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Intercreditor Action has the meaning set forth in Section 5.03(d).
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Intercreditor Action has the meaning given to such term in Section 13.13. “Intercreditor Agreement” means, Accounts Intercreditor Agreement (as amended, modified, waived, restated or replaced from time to time), dated as of January 30, 2023, by and among (i) the Controlled Accounts Agent, (ii) the Third Party Allocation Agent, (iii) SouthernCo, as sponsor (in such capacity, the “Sponsor”), (iv) Heights Financing I, LLC (“Heights”), as borrower (in such capacity, the “Warehouse Borrower”) under the Warehouse Basic Documents (as defined therein), (v) Computershare, as collateral agent (in such capacity, and not in its individual capacity, the “Warehouse Collateral Agent”) under the Warehouse Basic Documents, (vi) SouthernCo, as servicer under the Warehouse Basic Documents, (vii) Heights Finance, as subservicer, and (viii) any trustee, custodian, collateral agent, paying agent or other person that is authorized on behalf of the lenders, holders of securities and other interest holders party to or under any other financing facility, from time to time entered into by Sponsor and/or its affiliates, that are or become signatories thereto by execution of a Joinder Agreement and the related Joined Party SPV (each as defined therein) joined hereto by execution of such Joinder Agreement. “Interest” means, for any Interest Period and each Loan outstanding during such Interest Period, interest on the Principal Amount of such Loan computed pursuant to Section 2.07; provided, however, that (i) no provision of this Agreement shall require or permit the collection of
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Examples of Intercreditor Action in a sentence

  • If an Event of Default is continuing, a successor Collateral Agent and/or Intercreditor Agent, as the case may be, shall be appointed by Intercreditor Action.

  • The Collateral Agent and/or the Intercreditor Agent may be removed with five Business Days prior written notice with or without cause by an Intercreditor Action or the Company.

  • No Secured Party shall have any right individually to realize upon any of the Collateral (as applicable), it being understood and agreed that all powers, rights and remedies under any of the Collateral Documents may be exercised solely by the Collateral Agent (acting at the instructions of the Intercreditor Agent (acting pursuant to an Intercreditor Action)) for the benefit of the Secured Parties in accordance with the terms thereof.


More Definitions of Intercreditor Action

Intercreditor Action has the meaning given to such term in Section 6.3 (Intercreditor Action). Inventory means Crude Oil and Products.
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Related to Intercreditor Action

  • ABL Intercreditor Agreement means the Intercreditor Agreement, dated as of July 26, 2022, by and among the Collateral Agent (as defined therein), the ABL Agent, and each additional representative party thereto from time to time, as amended, restated or otherwise modified from time to time in accordance with the terms thereof.

  • Intercreditor Agreement means the Intercreditor Agreement dated as of the Issue Date (and as may be amended, restated, amended and restated, supplemented or otherwise modified from time to time), between, among others, the Company, the Guarantors, the Trustee, the Collateral Agent, and each additional authorized representative and collateral agent from time to time party thereto.

  • Junior Lien Intercreditor Agreement means an intercreditor agreement in form and substance reasonably satisfactory to the Administrative Agent between the Administrative Agent and one or more collateral agents or representatives for the holders of Indebtedness that is secured by a Lien on the Collateral ranking junior to the Liens of the Loan Documents.

  • Acceptable Intercreditor Agreement means the Intercreditor Agreement, a Market Intercreditor Agreement, or another intercreditor agreement that is reasonably satisfactory to the Administrative Agent (which may, if applicable, consist of a payment “waterfall”).

  • Customary Intercreditor Agreement means (a) to the extent executed in connection with the incurrence of secured Indebtedness, the security of which is not intended to rank junior or senior to the Liens securing the Obligations (but without regard to the control of remedies), at the option of the Borrower and the Administrative Agent acting together, either (i) any intercreditor agreement substantially in the form of the Senior Priority Lien Intercreditor Agreement or (ii) a customary intercreditor agreement in a form reasonably acceptable to the Administrative Agent and the Borrower, which agreement shall provide that the Liens securing such Indebtedness shall not rank junior or senior to the Lien securing the Obligations (but without regard to the control of remedies) and (b) to the extent executed in connection with the incurrence of secured Indebtedness, the security of which is intended to rank junior to the Liens securing the Obligations, at the option of the Borrower and the Administrative Agent acting together, either (i) an intercreditor agreement substantially in the form of the Junior Priority Lien Intercreditor Agreement or (ii) a customary intercreditor agreement in a form reasonably acceptable to the Administrative Agent and the Borrower, which agreement shall provide that the Liens securing such Indebtedness shall rank junior to the Lien securing the Obligations.

  • Intercreditor Agent has the meaning given to such term in the Intercreditor Agreement.

  • Permitted Pari Passu Intercreditor Agreement means, with respect to any Liens on Collateral that are intended to be pari passu with the Liens securing the Term B Loans (and other Loan Obligations that are pari passu with the Term B Loans), either (as the Borrower shall elect) (x) the First Lien/First Lien Intercreditor Agreement, (y) another intercreditor agreement not materially less favorable to the Lenders vis-à-vis such pari passu Liens than the First Lien/First Lien Intercreditor Agreement (as determined by the Borrower in good faith) or (z) another intercreditor agreement the terms of which are consistent with market terms governing security arrangements for the sharing of liens on a pari passu basis at the time such intercreditor agreement is proposed to be established in light of the type of Indebtedness to be secured by such liens, as determined by the Administrative Agent and the Borrower in the exercise of reasonable judgment.

  • First Lien/Second 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, in each case, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • Permitted Junior Intercreditor Agreement means, with respect to any Liens on Collateral that are intended to be junior to any Liens securing the Term B Loans (and other Loan Obligations that are pari passu with the Term B Loans) (including, for the avoidance of doubt, junior Liens pursuant to Section 2.21(b)(ii) and (v)), either (as the Borrower shall elect) (x) the First Lien/Second Lien Intercreditor Agreement if such Liens secure “Second Lien Obligations” (as defined therein), (y) another intercreditor agreement not materially less favorable to the Lenders vis-à-vis such junior Liens than the First Lien/Second Lien Intercreditor Agreement (as determined by the Borrower in good faith) or (z) another intercreditor agreement the terms of which are consistent with market terms governing security arrangements for the sharing of liens on a junior basis at the time such intercreditor agreement is proposed to be established in light of the type of Indebtedness to be secured by such liens, as determined by the Administrative Agent and the Borrower in the exercise of reasonable judgment.

  • Pari Passu Lien Priority means relative to specified Indebtedness and other obligations having equal Lien priority to the Notes and the Guarantees, as the case may be, on the Collateral.