Priority Rights definition
Examples of Priority Rights in a sentence
The Common Security Agent shall at the request and cost of the Company take all actions reasonably necessary to enable the registration of the Permitted First Priority Rights with first priority and shall be authorised by each Secured Creditor and Hedge Counterparty to do so without any further consent by them.
The Seller shall be liable for all Taxes relating to or arising out of (i) the ICO Claims imposed with respect to any taxable period (or portion thereof) ending on or before the Implementation Date, (ii) the Priority Rights imposed with respect to any taxable period (or portion thereof) ending on or before the Closing Date, and (iii) the International Assets imposed with respect to any taxable period (or portion thereof) ending on or before the Assets Call Closing Date.
The Receiver shall be the agent of Producer and shall have all of the powers of a receiver under applicable law, subject to the Priority Rights.
The Intercreditor Agreement, the Stock Agreement, the Security Agreement, Pledge and Assignment: Equipment, Inventory, Securities and Intellectual Property, the Deed of Trust Parity Agreement and the Bank MasterLink Priority Rights Addendum, each of even date herewith, to which First Bank National Association is also a party.
For example: If the capacity of the Line is increased to 530 megawatts, Avista’s Priority Rights will increase to 265 megawatts in the easterly direction and PacifiCorp’s Priority Rights will increase to 265 megawatts in the westerly direction.
Priority Rights of Holders..........................16 SECTION 2.11.
This priority shall apply for the purposes of section 10.3 (a) and (b) of the Code, unless otherwise agreed in writing by the parties by way of amendment to this Agreement pursuant to section 7.4(g) of the Code.] OR [The Supplementary Capacity made available under this Agreement shall have equal priority with DNC with Priority Rights.
Transmission Projects and New Cost-Based, Participant-Funded Transmission Projects; Priority Rights to New Participant-Funded Transmission, 142 FERC ¶ 61,038 (2013).
In that event, the Party lacking Priority Rights or Remaining Capacity rights for a portion of its schedule will reduce its transmission schedule as necessary to accommodate the schedule of the rights holder except that in no event will a Party be required to reduce its schedule below its Remaining Capacity or Priority Rights.
Priority Rights of Holders...................................16 SECTION 2.11.