Priority Assets definition

Priority Assets means the Vessels known on the Waiver Effective Date as (i) Azamara Quest, (ii) Azamara Pursuit, (iii) Azamara Journey, (iv) Celebrity Edge, (v) Celebrity Apex, (vi) Celebrity Flora, (vii) Celebrity Xpedition, (viii) Celebrity Xperience, (ix) Celebrity Xploration, (x) Monarch, (xi) Horizon and (xii) Sovereign (it being understood that such Vessels shall remain “Priority Assets” regardless of any change in name or ownership after the Waiver Effective Date).
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Priority Assets means (i) the Priority Vessels and (ii) Equity Interests in the Guarantor and any Subsidiary thereof, including the Principal Subsidiaries that own Priority Vessels.
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Priority Assets regardless of any change in name or ownership after the Waiver Effective Date).
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Examples of Priority Assets in a sentence

  • Notwithstanding anything to the contrary contained in the VPEG Loan Documents, VPEG I hereby agrees that it relinquishes any and all rights that it may have to any security interest or lien upon the Second Priority Assets and that this Section 4 constitutes an amendment to the VPEG Loan Documents to the extent necessary to relinquish VPEG I’s rights under the VPEG Loan Documents to any security interest whatsoever in the Second Priority Assets.

  • Any payments or Second Priority Assets received by Kodak shall be subject to the provisions of Section 3 of this Agreement.

  • Kodak hereby subordinates the security interest in and lien upon the Second Priority Assets granted to Kodak pursuant to the Kodak Loan Documents to the lien granted by the Borrower and the Guarantor to ▇▇▇▇▇▇▇▇ pursuant to the ▇▇▇▇▇▇▇▇ Loan Documents.

  • It is the intention of the parties that the PropCo Assets and the New Term Loan Priority Assets be mortgaged by their existing owners in favor of the applicable creditors with the priorities set forth herein and in the Agreement.

  • New Subsidiary and PropCo will be guarantors of the Extended Term Loans, the Second Lien Notes and Third Lien Notes, subject to payment subordination agreements in a form to be reasonably agreed in order to give the applicable creditors the applicable priority (as if the assets of New Subsidiary and PropCo could have been mortgaged) with respect to the value of the PropCo Assets and the New Term Loan Priority Assets.

  • The second priority security interest in the Second Priority Assets shall only be subordinate to the first priority security interests in the Second Priority Assets that is being granted by Borrower and PTHS to ▇▇▇▇▇▇▇▇ in connection with the PTHS Acquisition.

  • For the avoidance of doubt, ▇▇▇▇▇▇▇▇ acknowledges and agrees that ▇▇▇▇▇▇▇▇ has no security interest or lien upon the First Priority Assets.

  • All proceeds of the Second Priority Assets shall be first paid to ▇▇▇▇▇▇▇▇ for application to the indebtedness and other obligations arising under the ▇▇▇▇▇▇▇▇ Loan Documents (the “▇▇▇▇▇▇▇▇ Debt”) until the ▇▇▇▇▇▇▇▇ Debt has been paid in full in cash.

  • This authorization is coupled with an interest and is irrevocable until the Discharge of Second Lien Obligations or, if earlier, until the application of the first $5,000,000 of cash proceeds from the sale or disposition of any Second Lien Priority Assets or proceeds thereof to the Second Lien Obligations as provided in Section 4.2(b) of this Agreement.

  • Kodak hereby agrees that it will not contest the validity, perfection, priority or enforceability of Matheson’s liens and security interests in the Second Priority Assets.