Priority Payment Obligations definition

Priority Payment Obligations means the Revolving Credit Agreement Debt (excluding any Revolving Credit Agreement Debt consisting of obligations arising under Swap Agreements); provided that the aggregate principal amount of loans and reimbursement obligations in respect of letters of credit under the Revolving Credit Agreement (but excluding, for the avoidance of doubt, obligations in respect of Cash Management Services (as defined in the Revolving Credit Agreement on the date hereof)) pursuant to this clause constituting “Priority Payment Obligations” shall not at any time exceed $375,000,000.
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Priority Payment Obligations means all (i) Obligations arising under any Revolving Credit Commitment with a payment priority ranking higher than the Initial Term Loans (including in respect of principal of loans, letters of credit, interest and fees thereunder and indemnitees and expense reimbursement with respect thereto), (ii) Secured Cash Management Obligations with respect to any Cash Management Bank to the extent designated as “Priority Payment Obligations” by notice in writing to the Collateral Agent and each Administrative Agent and (iii) Obligations arising under any Secured Hedge Agreement to the extent designated as “Priority Payment Obligations” by notice in writing to the Collateral Agent and each Administrative Agent; provided that all Priority Payment Obligations may only be agented by a single agent. For the avoidance of doubt, the Revolving Credit Commitments, Revolving Credit Loans and all interest and fees related thereto constitute Priority Payment Obligations.
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Priority Payment Obligations means all (i) Obligations arising under any Revolving Commitment, Extended Revolving Commitment, Incremental Revolving Commitment or Replacement Revolving Facility Commitment (including in respect of principal of loans, letters of credit, interest and fees thereunder and indemnitees and expense reimbursement with respect thereto), (ii) Cash Management Obligations and (iii) Obligations arising under any Specified Swap Agreement, including, in each case, interest, fees and expenses accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest, fees and expenses is allowed in such proceeding.
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Examples of Priority Payment Obligations in a sentence

  • Notwithstanding anything to contrary herein, the aggregate Dollar Equivalent amount of all Incremental Facilities constituting Priority Payment Obligations in the form of Additional Revolving Credit Commitments, Revolving Credit Commitment Increases and Incremental Revolving Credit Commitments) (determined at the time of incurrence) shall not exceed the Initial Revolving Credit Facility Cap.


More Definitions of Priority Payment Obligations

Priority Payment Obligations means all (i) Obligations arising under any Revolving Credit Commitment with a payment priority ranking higher than the Initial Term Loans (including in respect of principal of loans, letters of credit, interest and fees thereunder and indemnitees and expense reimbursement with respect thereto), (ii) Secured Cash Management Obligations with respect to any Cash Management Bank to the extent designated as “Priority Payment Obligations” by notice in writing to the Collateral Agent and each Administrative Agent and (iii) Obligations arising under any Secured Hedge Agreement to the extent designated as “Priority Payment Obligations” by notice in writing to the Collateral Agent and each Administrative Agent; provided that all Priority Payment Obligations may only be agented by a single agent. For the avoidance of doubt, the Revolving Credit Commitments, Revolving Credit Loans and all interest and fees related thereto constitute Priority Payment Obligations. “Proposed Discounted Prepayment Amount” has the meaning specified in Section 2.05(d)(ii). “PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time. “Public Company Costs” means, as to any Person, costs associated with, or in anticipation of, or preparation for, compliance with the requirements of the Xxxxxxxx-Xxxxx Act of 2002 and the rules and regulations promulgated in connection therewith and costs relating to compliance with the provisions of the Securities Act and the Exchange Act or other comparable body of laws, rules or regulations, as companies with listed equity, directors’ compensation, fees and expense reimbursement, costs relating to enhanced accounting functions and investor relations, stockholder meetings and reports to stockholders, directors’ and officers’ insurance and other executive costs, legal and other professional fees, listing fees and other transaction costs, in each case to the extent arising solely by virtue of the listing of such Person’s equity securities on a national securities exchange or issuance of public debt securities. “Public Lender” has the meaning specified in Section 6.02. “Purchase Money Obligations” means any Indebtedness Incurred to finance or refinance the acquisition, leasing, expansion, construction, installation, replacement, repair or improvement of property (real or personal), equipment or assets (including Capital Stock), and whether acquired through the direct acquisi...
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Priority Payment Obligations set forth in Section 1.01 (or any of the defined terms used in any such definitions solely as they relate to such definitions), (ii) the proviso to clause (ee) of the definition of “Permitted Liens” set forth in Section 1.01, (iii) Section 2.05(b)(ii)(A), Section 2.05(b)(ii)(C), Section 2.12(g), Section 2.13, the proviso to Section 2.14(f), Section 4.02 (solely with respect to Credit Extensions pertaining to the Revolving Credit Facility) or Section 7.09 or (iv) any provision of the Amendment No. 1 Effective Date Agreement Among Lenders that would alter the priority status of the Revolving Credit Facility, in each case, without the written consent of each Revolving Credit Lender; (h) modify any of Section 2.14(f), Section 8.04, Section 10.24 or any Customary Intercreditor Agreement without the written consent of each Revolving Credit Lender and the Required Facility Lenders in respect of the Term Loans; (i) modify any provision in this Agreement or any other Loan Document that expressly provides for the consent of the Required Revolving Credit Lenders or the Required Facility Lenders with respect to any Facility, in each case, without the written consent of the 216 #95598837v24
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Priority Payment Obligations means (i) all Obligations arising under the Closing Date Revolving Commitments and (ii) all Obligations arising under any Extended Revolving Commitment in respect of the Closing Date Revolving Commitments, any Refinancing Revolving Commitment in respect of the Closing Date Revolving Commitments or any Revolving Commitment Increase (including in respect of principal of loans, Letters of Credit, interest and fees thereunder and indemnitees and expense reimbursement with respect thereto) that, in each case of this clause (ii) were designated by the Borrower as Priority Payment Obligations and provided the principal amount of Revolving Loans and the face amount of any Letters of Credit under this clause (ii), together with the principal amount of Revolving Loans and the face amount of Letters of Credit under clause (i), shall not exceed the Priority Payment Obligations Cap.
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Related to Priority Payment Obligations

  • Relevant Obligations means the Obligations constituting Bonds and Loans of the Reference Entity outstanding immediately prior to the effective date of the Succession Event, excluding any debt obligations outstanding between the Reference Entity and any of its Affiliates, as determined by the Calculation Agent. The Calculation Agent will determine the entity which succeeds to such Relevant Obligations on the basis of the Best Available Information. If the date on which the Best Available Information becomes available or is filed precedes the legally effective date of the relevant Succession Event, any assumptions as to the allocation of obligations between or among entities contained in the Best Available Information will be deemed to have been fulfilled as of the legally effective date of the Succession Event, whether or not this is in fact the case.

  • Loan Document Obligations means (a) the due and punctual payment by the Borrower of (i) the 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 in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral and (iii) all other monetary obligations of the Borrower under this Agreement and each of the other Loan Documents, including obligations to pay fees, expense reimbursement obligations (including with respect to attorneys’ fees) 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 in such proceeding), (b) the due and punctual performance of all other obligations of the Borrower under or pursuant to this Agreement and each of the other Loan Documents and (c) the due and punctual payment and performance of all the obligations of each other Loan Party under or pursuant to each of the Loan Documents (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), in each case of clauses (a), (b) and (c), whether now or hereafter owing.

  • Cash Management Obligations means obligations owed by the Company or any Subsidiary to any Lender or a Cash Management Bank in respect of (1) any overdraft and related liabilities arising from treasury, depository and cash management services or any automated clearing house transfers of funds and (2) the Company’s or any Subsidiary’s participation in commercial (or purchasing) card programs at the Lender or any Affiliate (“card obligations”).

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.