Priority of Payments definition

Priority of Payments. The meaning specified in Section 11.1(a).

Priority of Payments means each of the Pre-Issuer Event of Default Interest Priority of Payments, the Pre-Issuer Event of Default Principal Priority of Payments, the Guarantee Priority of Payments and the Post-Enforcement Priority of Payments.

Priority of Payments has the meaning set forth in Section 4.05.

Examples of Priority of Payments in a sentence

• If a Coverage Test is not met on any Determination Date on which such Coverage Test is applicable, the Issuer shall apply available amounts in the Payment Account to make payments on the Securities on the applicable Payment Date pursuant to the Priority of Payments (a “Mandatory Redemption”).

• The Issuer will duly and punctually pay the principal of and interest on the Secured Debt, in accordance with the terms of such Secured Debt, the Loan Agreement and this Indenture pursuant to the Priority of Payments.

• The reasonable fees, costs, charges and expenses incurred by the Issuer (including, without limitation, attorney’s fees and expenses) in connection with taking any such actions constitute Administrative Expenses payable in accordance with the Priority of Payments.

• The Issuer will, to the extent funds are lawfully available therefor pursuant to the Priority of Payments, duly and punctually pay all required distributions on the Preferred Shares, in accordance with this Indenture and the Limited Liability Company Agreement.

• No Contribution or portion thereof shall be returned to the contributor at any time (other than by operation of the Priority of Payments).

More Definitions of Priority of Payments

Priority of Payments. The meaning given to such term in Section 3.04.

Priority of Payments means the priorities set forth in Section 6.4 hereof.

Priority of Payments has the meaning set forth in Section 9.1(a); provided that, at all times after the Majority Lenders have exercised their right to direct the liquidation of the Collateral under Article VI, “Priority of Payments” shall mean the priorities set forth in Section 6.4 hereof.

Priority of Payments means the allocation and payment obligations described in Section 5.11 of the Base Indenture as supplemented by the allocation and payment obligations with respect to each Series of Notes described in each Series Supplement.

Priority of Payments. As defined in Section 4.04 hereof.

Priority of Payments means the application of Available Funds in accordance with Section 3.1.

Priority of Payments means, collectively, the payments made on each Payment Date in accordance with Section 7.05(a), Section 7.05(b) and Section 7.05(c), as applicable.