Notes Lien definition

Notes Lien means a Lien granted by a Security Document to the Collateral Agent, at any time, upon the Shared Real Estate Collateral to secure Notes Obligations.
View Source
Notes Lien means any Lien created by the Notes Security Documents.
View Source
Notes Lien means any Lien created by the Notes Security Documents. "Notes Obligations" means (a) all principal of and interest (including without limitation any Post- Petition Interest) and premium (if any) on all indebtedness under the Notes Agreement or any Notes DIP Financing by the Notes Creditors, and (b) all guarantee obligations, indemnities, fees, expenses and other amounts payable from time to time pursuant to the Notes Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Notes Obligation (whether by or on behalf of any Loan Party, as Proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any ABL Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the ABL Secured Parties and the Notes Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred. "Notes Obligations Payment Date" means the first date on which (a) the Notes Priority Obligations (other than those that constitute Unasserted Contingent Obligations) have been indefeasibly paid in cash in full or converted to equity interests in Daktronics (or any parent company thereof) in accordance with the terms of the Note Agreement (as in effect on the date hereof), (b) all commitments to purchase Notes or any other notes or to otherwise extend credit under the Notes Documents have been terminated, and (c) so long as the ABL Obligations Payment Date shall not have occurred, the Notes Representative has delivered a written notice to the ABL Representative stating that the events described in clauses (a) and (b) have occurred to the satisfaction of the Notes Secured Parties. "Notes Priority Collateral" means all of each and every Loan Party’s right, title, and interest in and to the following types of property of such Loan Party, wherever located and whether now owned by such Loan Party or hereafter acquired (including, for the avoidance of doubt, any such assets that, but for the application of Section 552 of the Bankruptcy Code, would constitute Notes Priority Collateral) but excluding any ABL Exclusive Collateral:
View Source

Examples of Notes Lien in a sentence

  • Until so delivered, such proceeds will be held by that Notes Representative or that Noteholder, as the case may be, for the benefit of the holders of the Priority Lien Obligations and other Obligations secured by a Permitted Lien (other than a Notes Lien or a Junior Lien).

  • The Collateral will be released from the Notes Lien securing the Notes, as provided under Section 10.4 hereof, upon a Discharge in accordance with the provisions of this Section 8.8.

  • If the aggregate principal amount of Notes surrendered by Holders and, if required by the holders of Pari Passu Notes Lien Indebtedness, holders of any Pari Passu Notes Lien Indebtedness exceeds the amount of Excess Collateral Proceeds, the Notes and Pari Passu Notes Lien Indebtedness to be purchased shall be selected on a pro rata basis on the basis of the aggregate principal amount of tendered Notes and Pari Passu Notes Lien Indebtedness.

  • If the aggregate principal amount of Notes surrendered by Holders and holders of any Pari Passu Notes Lien Indebtedness exceeds the amount of Excess Collateral Proceeds, the Notes and Pari Passu Notes Lien Indebtedness to be purchased shall be selected on a pro rata basis on the basis of the aggregate principal amount of tendered Notes.

  • The Borrower breaches, ---------------------------- or defaults in any material respect under, any term, condition, provision, representation or warranty contained in this Agreement not specifically referred to in this Section, provided that with respect to any of the foregoing (other than Sections 5.1, 5.7, and 5.10) that is capable of being cured, the Borrower have failed to cure the same within thirty (30) days from the receipt of notice thereof from the Lender.

  • The Collateral will also secure the Issuer’s and the Guarantors’ Obligations under the ABL Credit Agreement, Pari Passu Notes Lien Indebtedness and Pari Passu ABL Lien Indebtedness as provided in the Intercreditor Agreements and any Junior Lien Indebtedness as provided under the Junior Lien Intercreditor Agreement.

  • The Collateral will also secure the Issuers’ and the Subsidiary Guarantors’ Obligations under Pari Passu Notes Lien Indebtedness as provided in the Intercreditor Agreements.

  • If the aggregate principal amount of Notes surrendered by Holders of the Notes and, if required by the Holders of Pari Passu Notes Lien Indebtedness, Holders of any Pari Passu Notes Lien Indebtedness exceeds the amount of Excess Collateral Proceeds, the Notes and Pari Passu Notes Lien Indebtedness to be purchased shall be selected on a pro rata basis on the basis of the aggregate principal amount of tendered Notes and Pari Passu Notes Lien Indebtedness.

  • If the aggregate principal amount of Notes surrendered by holders of the Notes and, if required by the holders of Pari Passu Notes Lien Debt, holders of any Pari Passu Notes Lien Debt exceeds the amount of Excess Non-Collateral Proceeds, the Notes and Pari Passu Notes Lien Debt to be purchased shall be selected on a pro rata basis on the basis of the aggregate principal amount of tendered Notes and Pari Passu Notes Lien Debt.

  • To the extent that the aggregate amount of Notes so validly tendered and not properly withdrawn pursuant to a Collateral Sale Offer (together with, if required by the terms of any other Pari Passu Notes Lien Debt, the amount of Pari Passu Notes Lien Debt tendered pursuant to any similar requirement), is less than the Excess Collateral Proceeds, the Issuer may use any remaining Excess Collateral Proceeds for general corporate purposes, subject to the other covenants contained in the Indenture.


More Definitions of Notes Lien

Notes Lien means any Lien created, or intended to be created, pursuant to the Notes Security Documents.
View Source

Related to Notes Lien

  • Senior Lien means the Liens on the Senior Collateral in favor of the Senior Secured Parties under the Senior Collateral Documents.

  • Parity Lien means a Lien granted by a Collateral Document to the Collateral Agent upon any property of the Company or any other Obligor to secure Parity Lien Obligations.

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

  • Second Priority Lien means the Liens on the Second Priority Collateral in favor of Second Priority Debt Parties under Second Priority Collateral Documents.

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