Examples of Junior Priority Lien in a sentence
Until the Discharge of Senior Priority Obligations, to the extent that the Senior Priority Secured Parties (i) have released any Lien on Collateral and any such Lien is later reinstated or (ii) obtain any new Senior Priority Liens, then the Junior Priority Secured Parties shall at the time of such reinstatement or new Senior Priority Liens be granted a Junior Priority Lien on any such Collateral.
Each Junior Priority Representative, for itself and on behalf of each Junior Priority Debt Party under its Junior Priority Debt Facility, shall not object to, oppose, support any objection, or take any other action to impede, the right of any Senior Secured Party to make an election under Section 1111(b)(2) of the Bankruptcy Code with respect to any Shared Collateral on which such Junior Priority Representative holds a Junior Priority Lien.
Additional information Anyone who receives this Offer to Exchange and Disclosure Statement may obtain a copy of the New Notes Indenture, the Junior Priority Lien Intercreditor Agreement and the Security Documents without charge by writing to the Company, 547 New Park Avenue, West Hartford, Connecticut 06110, Attention: Chief Financial Officer.
The Borrower shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, pay or cause to be paid any consideration to or for the benefit of any Lender or holder of any Junior Priority Lien Debt for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of any Junior Priority Lien Document unless (a) in the case of any consent, waiver or amendment of any 128 EXCO Resources, Inc.
Each Holder, by accepting a Security authorizes and directs the Trustee and Collateral Agent to execute, deliver and perform the Junior Priority Lien Intercreditor Agreement and each other Security Document to which they are a party and to bind the Holders to the terms thereof.