Priority Bank Debt definition

Priority Bank Debt means Indebtedness under the Senior Credit Agreement and the Guarantees thereunder.
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Priority Bank Debt means any Indebtedness under the Revolving Credit Facility Incurred pursuant to Section 4.10(b)(i).”
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Priority Bank Debt means any Indebtedness under the Credit Facilities Incurred pursuant to Section 4.10(b)(i) hereof in an amount not to exceed $100,000,000.
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Examples of Priority Bank Debt in a sentence

  • Until so delivered, such proceeds will be held by such Other Priority Debt Representative or such holder of a Priority Lien Obligation, as the case may be, for the benefit of the holders of the Priority Bank Debt Obligations.

  • The Term Loan Agent and the Term Loan Lenders agree that they will not contest the validity, perfection, priority or enforceability of the claims of the Revolving Agent and the Revolving Lenders with respect to the Priority Bank Debt or the liens upon the Collateral in favor of the Revolving Agent.

  • If the Other Priority Lien Secured Parties reject such offer (or do not so irrevocably accept such offer within the required timeframe), the Priority Bank Debt Secured Parties shall have no further obligations pursuant to this Section 2.4.

  • The Term Loan Agent hereby agrees, upon request of the Revolving Credit Agent at any time and from time to time, to execute such other documents or instruments as may be reasonably requested by the Revolving Credit Agent further to evidence of public record or otherwise the senior priority of the Liens securing the Priority Bank Debt as contemplated hereby.

  • The Revolving Agent agrees to turn over to the Term Loan Agent with appropriate endorsements any Revolving Primary Collateral in its possession upon payment in full of the Priority Bank Debt in cash.

  • Nothing contained in this SECTION 6.1 shall limit, impair or waive (i) the provisions of SECTION 2.3 hereof and the limitations on Priority Bank Debt contained herein or (ii) any right that the Term Loan Agent and the Term Loan Lenders have to enforce any of the provisions of the Term Loan Documents against any Credit Party.


More Definitions of Priority Bank Debt

Priority Bank Debt means (1) any Indebtedness incurred under the Credit Agreement pursuant to Section 4.09(i) in respect of which the Priority Debt Representative has agreed to be bound by or is otherwise subject to the terms of the Intercreditor Agreement in accordance with its terms and (2) Indebtedness incurred under the Specified Hedging Agreement in accordance with the second paragraph of Section 4.09 in respect of which the Specified Hedge Provider has agreed to be bound by or is otherwise subject to the terms of the Intercreditor Agreement in accordance with its terms; provided that the Indebtedness incurred under the Specified Hedging Agreement may not exceed $3.0 million; provided, further, that the sum of (a) the principal amount of Priority Bank Debt incurred under clause (1) above plus (b) Indebtedness incurred under the Specified Hedging Agreement may not, in the aggregate, exceed (i) prior to the closing of a Qualifying IPO, $50.0 million and (ii) from and after the closing of a Qualifying IPO, $100.0 million. For the avoidance of doubt, the principal amount of any Indebtedness incurred under the Credit Agreement or Indebtedness incurred under the Specified Hedging Agreement that is not Priority Bank Debt is Priority Lien Debt.
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Related to Priority Bank Debt

  • First Lien Bank Loan means a Bank Loan that is entitled to the benefit of a first lien and first priority perfected security interest (subject to Liens for “ABL” revolvers and customary encumbrances) on a substantial portion of the assets of the respective borrower and guarantors obligated in respect thereof.

  • Second Lien Bank Loan means a Bank Loan (other than a First Lien Bank Loan and a Last Out Loan) that is entitled to the benefit of a first and/or second lien and first and/or second priority perfected security interest on all or substantially all of the assets of the respective borrower and guarantors obligated in respect thereof.

  • Priority Lien Obligations means the Priority Lien Debt and all other Obligations in respect of Priority Lien Debt.

  • Priority Lien Cap means, as of any date, the maximum aggregate principal amount of Indebtedness permitted to be incurred by clause (1) of the definition of Permitted Debt. For purposes of this definition, all letters of credit will be valued at the face amount thereof, whether or not drawn.

  • Bank Debt means all indebtedness at any time owing by the Bank, to or for the credit or account of the Borrower and any claim of the Borrower (whether individual, joint and several or otherwise) against the Bank now or hereafter existing.

  • Senior Bank Debt means all Obligations outstanding under or in connection with the Credit Agreement (including Guarantees of such Obligations by Subsidiaries of the Company).

  • Priority Lien Debt means Indebtedness of the Company and the Subsidiary Guarantors under the Priority Lien Credit Agreement (including reimbursement obligations with respect to letters of credit).

  • Priority Amount As to any Distribution Date, the amount equal to the sum of (i) the product of (A) the Scheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage and (ii) the product of (A) the Unscheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage.

  • Priority Lien means a first priority Lien (subject in priority only to Permitted Prior Liens) granted in favor of the Collateral Trustee pursuant to a Note Security Document, at any time, upon any property of the Company or any other Grantor to secure Priority Lien Obligations.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

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

  • Priority 2 Individuals who are: Age 60 and over in need of the following medically related trips: • Need for life sustaining medical care such as dialysis, chemotherapy, radiation treatment • Multi-system failure or conditions requiring immediate medical supervision/care, e.g. diabetes, heart disease, Chronic Obstructive Pulmonary Disease (COPD) • Surgery or non-elective (immediate need) procedure

  • Priority Indebtedness means (a) Indebtedness of the Company or any Subsidiary (other than that described in Section 6.01(e)) secured by any Lien on any asset(s) of the Company or any Subsidiary and (b) Indebtedness of any Subsidiary, in each case owing to a Person other than the Company or any Subsidiary.

  • 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;

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt, (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents and (c) any renewals or extensions of the foregoing.

  • Priority Lien Secured Parties means the holders of Priority Lien Obligations and any Priority Debt Representatives.

  • Additional First Lien Obligations means all amounts owing to any Additional First-Lien Secured Party (including the Initial Additional First-Lien Secured Parties) pursuant to the terms of any Additional First-Lien Document (including the Initial Additional First-Lien Documents), including, without limitation, all amounts in respect of any principal, premium, interest (including any interest accruing subsequent to the commencement of a Bankruptcy Case at the rate provided for in the respective Additional First-Lien Document, whether or not such interest is an allowed claim under any such proceeding or under applicable state, federal or foreign law), penalties, fees, expenses, indemnifications, reimbursements, damages and other liabilities, and guarantees of the foregoing amounts.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • Priority Lien Security Documents means the Priority Credit Agreement (insofar as the same grants a Lien on the Collateral), each agreement listed in Part A of Exhibit B hereto, and any other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, control agreements, or grants or transfers for security, now existing or entered into after the date hereof, executed and delivered by the Borrower or any other Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Priority Lien Agent (including any such agreements, assignments, mortgages, deeds of trust and other documents or instruments associated with any Priority Substitute Credit Facility).

  • First Lien/First Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • First Lien Loans means the “Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

  • First Lien/Second Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, in each case, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • Priority Debt means the sum, without duplication, of (i) Indebtedness of the Borrower or any Guarantor secured by a Lien (other than the Liens entered into under the Loan Documents, including the Security Documents) and (ii) all Indebtedness of any Subsidiary that is not a Guarantor.

  • Priority 1 means a critical full outage/severe issue that constitutes a catastrophic problem that causes complete inability to use the Subscription Service, excluding Free Services, across a significant portion of the production environment (e.g. crash or hang), resulting in production downtime and where there is no workaround or solution to the problem.

  • Other First Lien Obligations means (a) the due and punctual payment by any Loan Party of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding) on Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Loan Party to any Secured Party under any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding), (b) the due and punctual performance of all other obligations of such Loan Party under or pursuant to any Other First Lien Agreement and (c) the due and punctual payment and performance of all the obligations of each other Loan Party under or pursuant to any Other First Lien Agreement.