Intercreditor Arrangement definition

Intercreditor Arrangement has the meaning specified in Section 13.25.
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Intercreditor Arrangement shall have the meaning specified in Section 4.11(c)(ii).
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Intercreditor Arrangement means any document, certificate or agreement, including any intercreditor or subordination agreement, as may reasonably be required by the Company and any Senior Lender to provide for the subordination of the Debenture Liabilities, in right of payment to the prior indefeasible payment and satisfaction in full of all indebtedness, liabilities and obligations to such Senior Lender incurred after the date hereof, all on terms substantially similar to the terms of the Intercreditor Agreement;
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Examples of Intercreditor Arrangement in a sentence

  • Each Lender (a) hereby agrees that it will be bound by and will take no actions contrary to the provisions of each Intercreditor Arrangement at any time existing and (b) hereby authorizes and instructs each of the Agent and the Collateral Agent to enter into Intercreditor Arrangements approved by the Agent and Required Lenders and to subject the Liens on the Collateral securing the Obligations to the provisions thereof, as the case may be.

  • Each Lender hereby acknowledges and agrees that the provisions of Section 13.25 of this Agreement shall apply with equal effect to any Intercreditor Arrangement.

  • The Agent and the Collateral Agent are hereby authorized to enter into the Initial Intercreditor Agreement and any other usual and customary intercreditor or subordination agreements or arrangements approved in writing by the Required Lenders (for purposes of this paragraph, any such agreement, an “Intercreditor Arrangement”) to the extent contemplated by the terms hereof, and the parties hereto acknowledge that each Intercreditor Arrangement is binding upon them.

  • In addition, but subject to the Post-Petition Intercreditor Arrangement, if at any time there is a Defaulting L/C Lender and the L/C Issuer has any amount of fronting risk with respect to any outstanding Letter of Credit, the Borrower shall, promptly upon demand by such L/C Issuer, deliver to such L/C Issuer additional Cash Collateral in an amount sufficient to reduce the risk to the L/C Issuer from such Defaulting L/C Lender to zero.

  • In the event of conflict between any Applicable Intercreditor Arrangement, any of the other Security Documents and this Indenture, the Applicable Intercreditor Arrangement shall control.

  • The Indenture, the Note Guarantees, the Notes, the Security Documents or the any Applicable Intercreditor Arrangement may be amended or supplemented as provided in the Indenture.

  • Each Holder, by accepting a Note, consents and agrees to the terms of this Section 12.02, and authorizes and directs the Trustee and the Notes Collateral Agent to execute (at Holdings’ expense) any documents that are necessary or convenient to evidence the release of any Collateral permitted to be released pursuant to this Indenture or the Security Documents or any Applicable Intercreditor Arrangement.

  • Notwithstanding anything to the contrary herein, each such prepayment shall be applied by the Administrative Agent in accordance with the Post-Petition Intercreditor Arrangement and, with respect to any amounts applied to outstanding Obligations of any Class in accordance with the Post-Petition Intercreditor Arrangements, shall be applied ratably to the outstanding Obligations of such Class.

  • The Trustee and Notes Collateral Agent, as the case may be, hold the Collateral in trust for the benefit of the Holders of the Notes, in each case pursuant to the Security Documents and any Applicable Intercreditor Arrangement.

  • Whether or not so expressly stated therein, in entering into, or taking (or forbearing from) any action under, any Applicable Intercreditor Arrangement or any other Security Document, the Trustee and the Notes Collateral Agent each shall have all of the rights, privileges, benefits, immunities, indemnities and other protections granted to it under this Indenture (in addition to those that may be granted to it under the terms of such other agreement or agreements).

Related to Intercreditor Arrangement

  • Intercreditor Arrangements means the First Lien Intercreditor Agreement and the Existing Intercreditor Agreement, in each case as amended, novated, supplemented, restated, or modified from time to time.

  • ABL Intercreditor Agreement means that certain ABL Intercreditor Agreement, dated as of the Closing Date, by and among the Collateral Agent, the ABL Collateral Agent and the other parties party thereto, as may be amended, amended and restated, modified, supplemented, extended or renewed from time to time in accordance with the terms hereof and thereof.

  • Intercreditor Agreements means the First Lien Intercreditor Agreement and the Junior Lien Intercreditor Agreement, collectively, in each case to the extent in effect.

  • Significant Transaction or Arrangement means any individual transaction or arrangement that exceeds or is likely to exceed 10% of the total revenues or total expenses or total assets or total liabilities, as the case may be, of the material unlisted subsidiary for the immediately preceding accounting year.

  • Additional Intercreditor Agreement means an intercreditor agreement among the Collateral Agent and one or more Junior Representatives for holders of Permitted Junior Debt providing that, inter alia, the Liens on the Collateral in favor of the Collateral Agent (for the benefit of the Secured Creditors) shall be senior to such Liens in favor of the Junior Representatives (for the benefit of the holders of Permitted Junior Debt), as such intercreditor agreement may be amended, amended and restated, modified, supplemented, extended or renewed from time to time in accordance with the terms hereof and thereof. The Additional Intercreditor Agreement shall be in a form customary at such time for transactions of the type contemplated thereby and reasonably satisfactory to the Administrative Agent and Lead Borrower (it being understood that the terms of any First Lien/Second Lien Intercreditor Agreement are reasonably satisfactory).