Payment Priorities definition

Payment Priorities means the priority of PRO RATA distributions described in clause (iii) of priority THIRD of Section 3.03(a).
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Payment Priorities has the meaning given to it in the Conditions;
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Payment Priorities has the meaning specified in subsection 5.10(e).
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Examples of Payment Priorities in a sentence

  • Roe, The Derivatives Market’s Payment Priorities as Financial Crisis Accelerator, 63 STAN.

  • On each distribution date, if collections on the receivables and advances by the servicer are insufficient to pay the first three items listed under "Payment Priorities" above, the indenture trustee will withdraw funds (if available) from the reserve account to pay those amounts.

  • In addition, pursuant to the Common Representative Agreement, the Transaction Management Agreement and the Conditions, the claims of certain Transaction Creditors and of third-party expenses creditors will rank senior to the claims of the Noteholders in accordance with the relevant Payment Priorities.

  • PG&E currently operates a number of separate programs that address each of the groups listed above.

  • Provided that, if on any Interest Payment Date the Gross Cumulative Default Ratio exceeds 15 per cent., then the Available Principal Distribution Amount shall be applied on that Interest Payment Date in accordance with the Post-Enforcement Payment Priorities.

  • In addition, as between any two Classes of Initial Notes, Noteholders of the junior Class (determined in accordance with the Payment Priorities set out above) will not be entitled to receive any payments in respect of such Notes until after the Noteholders of the more senior Class have received full payment of any amounts due in respect of such senior Notes.

  • For the avoidance of doubt, if Additional Tranches or Additional Classes of Notes are issued, Noteholders of any Initial Notes that are junior to any such Additional Tranches and/or Classes would not be entitled to receive any payments in respect of such Initial Notes until after the Noteholders of more senior Additional Classes and/or Tranches of Notes (determined in accordance with the Payment Priorities set out above) had received full payment of any amounts due in respect of such senior Notes.

  • Residue Manager Payment means an amount equal to 15% of the amounts standing to the credit of the General Account, after any and all amounts due to any other party in accordance with the Payment Priorities have been made (or, at the option of the Portfolio Manager, the sterling equivalent of such amount converted into sterling using a rate determined by the Calculation Agent in a commercially reasonable manner).

  • Roe, The Derivatives Market’s Payment Priorities as Financial Crisis Accelera- tor, 63 STAN.

  • If an Interest Deferral Trigger Event does not occur on the subsequent Determination Date, the Interest Amount in respect of the Class B Notes for the following Interest Payment Date will be paid under item fifth of the Pre-Enforcement Payment Priorities.


More Definitions of Payment Priorities

Payment Priorities means payment of Bonds in the following order of
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Payment Priorities means the provisions relating to the order of priority of payments set out in paragraph 9.3 of schedule 11 (Cash Management) to the Common Terms Agreement as adjusted following the taking of any Enforcement Action and following termination of a Standstill (other than pursuant to clause 13.4.1(iii) (Termination of Standstill) of the STID) in accordance with paragraph 9.3 of schedule 11 (Cash Management) to the Common Terms Agreement;
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Payment Priorities means the Pre-Enforcement Priority of Payments and the Post-Enforcement Priority of Payments;
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Payment Priorities means payment of Bonds in the following order of priority:
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Payment Priorities as set out in the Security Trust and Intercreditor Deed are the priorities set out below:
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Payment Priorities means the priority of pro rata distributions described in clause (iii) of priority third of Section 3.03(a).
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Related to Payment Priorities

  • Lowest Priority As of any date of determination, the Class of Subordinate Certificates then outstanding with the latest priority for payments pursuant to Section 4.02(a), in the following order: Class B-3, Class B-2, Class B-1, Class M-3, Class M-2 and Class M-1 Certificates.

  • Highest Priority As of any date of determination, the Class of Subordinate Certificates then outstanding with a Certificate Principal Balance greater than zero, with the earliest priority for payments pursuant to Section 4.02(a), in the following order: Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates.

  • Guarantee Priority of Payments means the priority of payments relating to moneys received by the Cash Manager for and on behalf of the Guarantor and moneys standing to the credit of the Guarantor Accounts, to be paid on each Guarantor Payment Date in accordance with the Guarantor Agreement.

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • First Priority means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document, that such Lien is the only Lien to which such Collateral is subject, other than any Permitted Lien.

  • First Priority Documents means the First Priority Agreement, each First Priority Security Document and each First Priority 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.

  • First Priority Obligations means (a) with respect to the Existing First Priority Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement and (b) with respect to each other First Priority Agreement, all “Obligations” of each Loan Party as defined in such First Priority Agreement, and shall in any event include (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable First Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any First Priority 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 Second Priority 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 First Priority Secured Parties and the Second Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Shared Collateral means, at any time, Collateral in which the holders of two or more Series of First-Lien Obligations hold a valid and perfected security interest at such time. If more than two Series of First-Lien Obligations are outstanding at any time and the holders of less than all Series of First-Lien Obligations hold a valid and perfected security interest in any Collateral at such time, then such Collateral shall constitute Shared Collateral for those Series of First-Lien Obligations that hold a valid security interest in such Collateral at such time and shall not constitute Shared Collateral for any Series which does not have a valid and perfected security interest in such Collateral at such time.

  • First Priority Lien means any Lien created by the First Priority Security Documents.

  • First Priority Security Documents means each agreement or document granting or purporting to xxxxx x Xxxx on any Common Collateral to secure First Priority Obligations.

  • Lien Priority means with respect to any Lien of the ABL Secured Parties or the Term Secured Parties in the Collateral, the order of priority of such Lien as specified in Section 2.1.

  • Security Documentation means the Security Documentation applicable to the specific Services purchased by Client, as updated from time to time, or as otherwise made reasonably available by IRONSCALES.

  • First Priority Liens means all Liens that secure the First Priority Lien Obligations.

  • Discharge of Priority Lien Obligations means the occurrence of all of the following:

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate or Representative of such holder at the time of entry into such Hedging Obligations;

  • Cooperative Lien Search A search for (a) federal tax liens, mechanics’ liens, lis pendens, judgments of record or otherwise against (i) the Cooperative Corporation and (ii) the seller of the Cooperative Unit, (b) filings of Financing Statements and (c) the deed of the Cooperative Project into the Cooperative Corporation.

  • priority shall include “prior claim”; (q) “survey” shall include “certificate of location and plan”; (r) “state” shall include “province”; (s) “fee simple title” shall include “absolute ownership”; (t) “accounts” shall include “claims”. The parties hereto confirm that it is their wish that this Agreement and any other document executed in connection with the transactions contemplated herein be drawn up in the English language only and that all other documents contemplated thereunder or relating thereto, including notices, may also be drawn up in the English language only. Les parties aux présentes confirment que c’est leur volonté que cette convention et les autres documents de crédit soient rédigés en langue anglaise seulement et que tous les documents, y compris tous avis, envisagés par cette convention et les autres documents peuvent être rédigés en langue anglaise seulement.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • Lower Priority As of any date of determination and any Class of Subordinate Certificates, any other Class of Subordinate Certificates then outstanding with a later priority for payments pursuant to Section 4.02 (a).

  • Additional Collateral Documents as defined in the Base Intercreditor Agreement.

  • Security Documents means the Security Agreement, the Mortgages, the Intellectual Property Security Agreement, the Pledge Agreement, the Facility Guarantee, and each other security agreement or other instrument or document executed and delivered pursuant to this Agreement or any other Loan Document that creates a Lien in favor of the Collateral Agent to secure any of the Obligations.

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

  • Second Priority Documents means each Second Priority Agreement, each Second Priority Security Document and each Second Priority Guarantee.

  • Second Priority means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document, that such Lien is second in priority only to the Liens created under the ABL Loan Documents (subject to (i) in the case of Mortgages, Permitted Encumbrances) and (ii) otherwise, Permitted Liens).

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.