Priority Lien Indebtedness definition

Priority Lien Indebtedness means, so long as the agreements governing or securing such Indebtedness grant a Default Purchase Option:
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Priority Lien Indebtedness means, so long as the agreements governing or securing such Indebtedness grant a Default Purchase
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Priority Lien Indebtedness means any bona fide indebtedness, which is the result of an arm's-length negotiation, that is secured by a first lien or encumbrance upon the Property and/or a Unit.
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Examples of Priority Lien Indebtedness in a sentence

  • To the extent that collections from such assigned accounts exceed the outstanding principal amount together with any accrued interest due on the Notes and all First Priority Lien Indebtedness, such excess amount shall not accrue interest in favor of such Issuer, but shall be available to such Issuer upon such Issuer’s written request.

  • To the extent that collections from such assigned accounts exceed the outstanding principal amount together with any accrued interest due on the Notes and all First Priority Lien Indebtedness, such excess amount shall not accrue interest in favor of Issuer, but shall be available to Issuer upon Issuer’s written request.

  • The Issuers agree that, upon any default, breach, violation, event, fact or circumstance under any First Priority Lien Indebtedness (including a Default or Event of Default under the Credit Agreement, as defined therein) which, with the giving of applicable notice or passage of time or both, would permit the holder of such Indebtedness to declare a default or otherwise accelerate amounts due thereunder, which the Issuers have not cured within the permitted time period and RGGPLS Holding Inc.


More Definitions of Priority Lien Indebtedness

Priority Lien Indebtedness means Total Secured Indebtedness that is not subordinated in right of payment to the Initial Term Loans and is secured by a Lien, except by a Lien that is pari passu or junior to the Lien securing the Obligations. For the avoidance of doubt, Priority Lien Indebtedness includes, without limitation, any First Lien Senior Secured Notes (as defined in the First Lien Credit Agreement) and First Lien Loans.
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Priority Lien Indebtedness means any Permitted Securitization Program, any purchase money Liens or capital lease obligations, any Indebtedness incurred pursuant to Section 8.1(s) [Indebtedness], the Loans and the Letter of Credit Obligations (excluding letters of credit, bank guarantees and similar instruments that would otherwise constitute Priority Lien Indebtedness (X) to the extent fully cash collateralized, letters of credit, bank guarantees and similar instruments (and, to the extent a Letter of Credit hereunder, Cash Collateralized in accordance with the terms hereof) and (Y) if undrawn (a) to the extent the maximum aggregate amount available to be drawn thereunder does not exceed $250,000,000 and (b) any letters of credit issued under the Existing Securitization Facility).
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Priority Lien Indebtedness is defined in Section 2.2 of this Deed of Trust.
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Priority Lien Indebtedness means (i) Indebtedness of the Company and the Guarantors under the First Lien Credit Facility and reimbursement obligations with respect thereto, (ii) the First Lien Notes and (iii) any other Indebtedness of the Company or any Guarantor that is secured by a Priority Lien on the Collateral; provided that the holders of such Indebtedness or their collateral agent shall become party to the Junior Lien Intercreditor Agreement and any other applicable Intercreditor Agreements; provided that the holders of such Indebtedness or their collateral agent shall become party to the Junior Lien Intercreditor Agreement and any other applicable Intercreditor Agreements.
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Related to Priority Lien Indebtedness

  • First Lien Indebtedness means the Indebtedness under the First Lien Indebtedness Documents.

  • Junior Lien Indebtedness means any Indebtedness (other than any ABL Facility) that is secured by a junior Lien to the Lien securing the Secured Obligations and that was permitted to be incurred and so secured hereunder.

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

  • Priority Lien Documents means the Priority Credit Agreement, the Priority Lien Security Documents, the other “Loan Documents” (as defined in the Priority Credit Agreement) and all other loan documents, notes, guarantees, instruments and agreements governing or evidencing, or executed or delivered in connection with, any Priority Substitute Credit Facility.

  • Second Lien Debt means the Indebtedness and guarantees thereof now or hereafter incurred pursuant to the Second Lien Loan Documents.

  • First Lien Debt means the Initial First Lien Debt and any Additional First Lien Debt.

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

  • Consolidated First Lien Secured Debt means Consolidated Total Debt as of such date that is not Subordinated Indebtedness and is secured by a Lien on all of the Collateral that ranks on an equal priority basis (but without regard to the control of remedies) with Liens on all of the Collateral securing the Obligations.

  • Credit Agreement Refinancing Indebtedness means (a) Permitted First Priority Refinancing Debt, (b) Permitted Junior Priority Refinancing Debt or (c) Permitted Unsecured Refinancing Debt, in each case, issued, incurred or otherwise obtained (including by means of the extension or renewal of existing Indebtedness) in exchange for, or to extend, renew, replace, repurchase, retire or refinance, in whole or part, existing Term Loans, or any then-existing Credit Agreement Refinancing Indebtedness (“Refinanced Debt”); provided that (i) such Indebtedness has a maturity no earlier, and a Weighted Average Life to Maturity equal to or greater, than 91 days after the Latest Maturity Date at the time such Indebtedness is incurred, (ii) such Indebtedness shall not have a greater principal amount (or accreted value, if applicable) than the principal amount (or accreted value, if applicable) of the Refinanced Debt plus accrued interest, fees, premiums (if any) and penalties thereon and reasonable fees and expenses associated with the refinancing, (iii) the terms and conditions of such Indebtedness (except as otherwise provided in clause (ii) above and with respect to pricing, rate floors, discounts, premiums and optional prepayment or redemption terms) are substantially identical to, or (taken as a whole) are no more favorable to the lenders or holders providing such Indebtedness, than those applicable to the Refinanced Debt being refinanced (except for covenants or other provisions applicable only to periods after the Latest Maturity Date at the time of incurrence of such Indebtedness) (provided that a certificate of a Responsible Officer delivered to the Agent at least five (5) Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the Parent Borrower has determined in good faith that such terms and conditions satisfy the requirement of this clause (iii) shall be conclusive evidence that such terms and conditions satisfy such requirement unless the Agent notifies the Parent Borrower within such five (5) Business Day period that it disagrees with such determination (including a description of the basis upon which it disagrees)), and (iv) such Refinanced Debt shall be repaid, repurchased, retired, defeased or satisfied and discharged, and all accrued interest, fees, premiums (if any) and penalties in connection therewith shall be paid, on the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained.

  • Permitted Pari Passu Secured Refinancing Debt means any secured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of senior secured notes; provided, that (a) such Indebtedness is secured by the Collateral on a pari passu basis (but without regard to the control of remedies) with the Obligations and is not secured by any property or assets of the Borrower or Restricted Subsidiary other than the Collateral, (b) such Indebtedness is not at any time guaranteed by any Subsidiaries other than Subsidiaries that are Guarantors, (c) such Indebtedness, (i) unless incurred as a term loan under this Agreement, does not mature or have scheduled amortization or payments of principal and is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligations (other than customary offers to repurchase upon a change of control, asset sale or event of loss and a customary acceleration right after an event of default), in each case prior to the date that is the Latest Maturity Date at the time such Indebtedness is incurred or issued, and (ii) if incurred as a term loan under this Agreement, does not mature earlier than, or have a Weighted Average Life to Maturity shorter than, the applicable Refinanced Debt, (d) the security agreements relating to such Indebtedness (to the extent such Indebtedness is not incurred hereunder) are substantially the same as or more favorable to the Loan Parties than the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (e) to the extent such Indebtedness is not incurred hereunder, a Representative acting on behalf of the holders of such Indebtedness shall have become party to or otherwise subject to the provisions of an Intercreditor Agreement with the Administrative Agent and (f) such Indebtedness, if consisting of Refinancing Notes, satisfies clause (d) of the definition of Permitted Other Debt Conditions. Permitted Pari Passu Secured Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

  • Parity Lien Obligations means Parity Lien Debt and all other Obligations in respect thereof.

  • Priority Lien means a Lien granted by a Security Document to the Collateral Trustee, at any time, upon any property of the Company or any Guarantor to secure Priority Lien Obligations.