Order of Priority definition

Order of Priority means the order of priority of payments specified in paragraph 2.2 (Pre and Post Enforcement Waterfalls) of Annex 1.

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Order of Priority means, in respect of any payment to be made by the Issuer before the Enforcement Date, the Pre-enforcement Order of Priority or, in respect of any payment to be made by the Issuer on or after the Enforcement Date, the Enforcement Order of Priority.

Order of Priority means the Order of Priority specified as such in the Issue Memorandum, being the order of priority in which the net proceeds of enforcement of the security over the Charged Property are to be applied pursuant to the Supplemental Trust Deed.

Examples of Order of Priority in a sentence

• In connection with the exercise of the Clean-Up Call Option, VWFS shall ensure that all amounts outstanding under the Notes and any obligations ranking pari passu with or senior to the Notes in the Order of Priority are discharged in full.

• Any Swap Tax Credits will be applied to the Swap Counterparty outside of the Order of Priority.

• Such Swap Replacement Proceeds shall be applied in payment of any Swap Termination Payments to the Swap Counterparty under the initial Swap Agreement outside the Order of Priority.

• If Swap Replacement Proceeds are insufficient to pay the Swap Termination Payment due to the initial Swap Counterparty, any shortfall shall be paid in accordance with the Order of Priority.

• In respect of other assets of the Issuer, such Order of Priority shall only be applicable internally between the Transaction Creditors, the Security Trustee, and the Issuer; in third party relationships, the rights of the Transaction Creditors and the Security Trustee shall have equal rank to those of the third-party creditors of the Issuer.

More Definitions of Order of Priority

Order of Priority means the order of priority according to which the payments of interest and principal to the Noteholders are distributed and other payments due and payable by the Issuer are made as more specifically described in clause 20.3 (Order of Priority) of the Trust Agreement.

Order of Priority means, in relation to any Series, the order of priority for application of all monies received by the Trustee pursuant to Clause 13 of the Principal Trust Deed (as amended by the relevant Supplemental Trust Deed);

Order of Priority means the order of priority according to which the payments of interest and principal to the Lenders and the Noteholders are distributed and other payments due and payable by the Issuer are made as more specifically described in clause 21.3 and clause 21.5 (Order of Priority) of the Trust Agreement.

Order of Priority means the order following which the Security Trustee shall apply moneys received following enforcement of the Pledge Agreement in accordance with Secured Condition 6 below. The Order of Priority shall follow the order (a), (b), (c), (d), (e), (f), (g) specified below:

Order of Priority means the order of priority of payments specified in paragraph 3 of this Annex 1.

Order of Priority means the order of priority of documents from which the CID of the Customer should be collected as prescribed under the applicable rules and regulations promulgated by the SFC from time to time, and as for the time being provided under paragraph 5.6 (o) of the Code of Conduct.

Order of Priority means the order of priority for application of funds as set out in paragraph 47(ii) of the Terms and Conditions;