Pari Passu Lien Obligation definition

Pari Passu Lien Obligation means any Indebtedness that has Pari Passu Lien Priority relative to the Proceeds Loans and the Proceeds Loans Guarantees with respect to the Proceeds Loan Collateral.
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Pari Passu Lien Obligation means any Indebtedness that has Pari Passu Lien Priority relative to the Notes and the Notes Guarantees with respect to the Collateral.
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Pari Passu Lien Obligation means any Indebtedness of the Company and the Restricted Subsidiaries (including any Additional Notes) that is equally and ratably secured with the Notes and is designated by the Company as Pari Passu Lien Obligation.
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Examples of Pari Passu Lien Obligation in a sentence

  • During the continuance of an Event of Default, the Collateral Trustee may exercise, in addition to all other rights and remedies granted to it in this Agreement and in any other instrument or agreement securing, evidencing or relating to any Pari Passu Lien Obligation, all rights and remedies of a secured party under the UCC or any other applicable law.

  • All notices, requests and demands pursuant hereto shall, if to the Collateral Agent, Trustee or any Holder, be made in accordance with Sections 14.2 of the Indenture (whether or not then in effect) and if to any Authorized Representative or holders of any Other Pari Passu Lien Obligation, to the address specified in the applicable Other Pari Passu Lien Joinder Agreement.

  • If any Pari Passu Lien Obligation is not paid when due, or upon any Event of Default, the Collateral Trustee may, at its sole election, proceed directly and at once, without notice, against any Grantor and any Collateral to collect and recover the full amount of any Pari Passu Lien Obligation then due, without first proceeding against any other Grantor or any other Collateral and without first joining any other Grantor or in any proceeding.


More Definitions of Pari Passu Lien Obligation

Pari Passu Lien Obligation means any Indebtedness of the Company and the Restricted Subsidiaries (including any Additional Notes, if any) that is equally and ratably secured with the Notes and is designated by the Company with the consent of the
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Pari Passu Lien Obligation means any Indebtedness of the Company and the Restricted Subsidiaries (including any Additional Securities) that is equally and ratably secured with the Securities and is designated by the Company as Pari Passu Lien Obligation.
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Pari Passu Lien Obligation means any Indebtedness that has Pari Passu Lien Priority relative to the Notes and the Note Guarantees with respect to the Note Collateral.
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Pari Passu Lien Obligation means the Notes Obligations, the Term Obligations and any Obligations under an Additional Pari Passu Agreement.
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Pari Passu Lien Obligation shall have the meaning set forth in the 2003 Indenture.
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Pari Passu Lien Obligation shall have the meaning set forth in the Indenture.
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Related to Pari Passu Lien Obligation

  • First Lien Obligations means the “Obligations” as defined in the First Lien Credit Agreement.

  • Pari Passu Obligations means Unsecured Debt (exclusive of the Notes, this Agreement and any Subsidiary Guarantee) of the Company or any Subsidiary Guarantor owing to a Person that is not the Company or an Affiliate thereof.

  • Pari Passu Debt means (a) any Debt of the applicable Issuer that ranks equally in right of payment with the Notes or (b) with respect to any Guarantee, any Debt that ranks equally in right of payment to such Guarantee.

  • Pari Passu Lien Priority means, relative to specified Indebtedness, having equal Lien priority on specified Collateral and either subject to the Intercreditor Agreement on a substantially identical basis as the holders of such specified Indebtedness or subject to intercreditor agreements providing holders of the Indebtedness intended to have Pari Passu Lien Priority with substantially the same rights and obligations that the holders of such specified Indebtedness have pursuant to the Intercreditor Agreement as to the specified Collateral.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).