RCF Priority Collateral definition

RCF Priority Collateral means all existing and after-acquired inventory, accounts receivable, lockboxes, deposit accounts into which payments therefor are deposited and proceeds thereof of the Company and the Guarantors.
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RCF Priority Collateral means (i) all accounts receivables (other than accounts receivables arising under contracts for the sale of Collateral that do not constitute RCF Priority Collateral); (ii) (a) all supply contracts, offtake agreements and similar contracts to which the Company or any Guarantor is a party and pursuant to which the Company or any Guarantor sells inventory or renders services, (b) all contracts between the Company or any Guarantor and any other Person whereby the Company or such Guarantor is entitled to receive inventory, or the benefit of inventory, pursuant to an inventory exchange arrangement with such other Person and (c) all Hedge Agreements (including any Permitted Crack Spread Hedge Agreement); (iii) all chattel paper (including electronic chattel paper); (iv) all tax refunds of any kind; (v) all commercial tort claims; (vi) except to the extent constituting Notes Priority Collateral, all deposit accounts and securities accounts and all cash, cash equivalents, checks and other negotiable instruments, funds or other evidences of payment and all financial assets held on deposit therein or credited thereto and all security entitlements arising therefrom; (viii) all commodity accounts and commodity contracts; (ix) all inventory; (x) all rights to business interruption insurance; (xi) all documents, general intangibles (other than intellectual property and the Capital Stock of any Subsidiary of the Company), instruments, investment property (other than the Capital Stock of any Subsidiary of the Company) and letter of credit rights; (xii) all proceeds, including insurance proceeds, of any of the foregoing and all collateral security and guarantees or other credit support given by any Person with respect to any of the foregoing; and (xiii) all books and records relating to any of the foregoing.
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RCF Priority Collateral has the meaning specified in the Intercreditor Agreement.
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Examples of RCF Priority Collateral in a sentence

  • After delivery of any notice contemplated by Section 7.1 above and until the date designated in such notice, the RCF Representative and the RCF Secured Parties shall, in the absence of exigent circumstances, refrain from enforcing on, or exercising any rights in respect of, any RCF Priority Collateral unless the failure to do so would adversely affect the RCF Representative’s RCF Lien.

  • Notwithstanding anything to the contrary herein and that the SOA shall be considered RCF Priority Collateral hereunder as an Accounts Receivable Contract, the parties hereto acknowledge and agree that this Agreement shall not impair the ability of the Term Loan Representative to enforce its rights under the Vitol Direct Agreement with respect to the SOA (including taking Enforcement Actions in respect of the SOA).

  • Notwithstanding anything herein to the contrary, to the extent that the Proceeds of any of the Collateral includes payments made under any business interruption insurance policy maintained by any Loan Party, such Proceeds shall be allocated to losses to the applicable Collateral that is impacted by the interruption as between (a) the RCF Priority Collateral and (b) the Other Collateral, but this allocation shall not impair the effects of Section 4.1(a) or 4.1(b).

  • Until the RCF Obligations Payment Date, the Term Loan Representative agrees, on behalf of itself and the other Term Loan Secured Parties, that none of them will seek relief from the automatic stay or from any other stay in any Insolvency Proceeding or take any action in derogation thereof, in each case in respect of any RCF Priority Collateral, without the prior written consent of the RCF Representative.

  • Notwithstanding anything else in this Paragraph, if the RCF Representative or other RCF Secured Parties agree to a “carve out” from the RCF Priority Collateral in connection with an RCF DIP Financing, and such “carve out” is senior in lien or payment priority to the liens and claims on account of the RCF Obligations, then the Term Loan Representative and Term Loan Secured Parties agree that such “carve out” will be senior to the liens and claims on account of the Term Loan Obligations to the same extent.


More Definitions of RCF Priority Collateral

RCF Priority Collateral means all Collateral consisting of the following:
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RCF Priority Collateral means all Collateral owned by the Domestic Guarantors (other than the Specified Collateral).
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Related to RCF Priority Collateral

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • U.S. Collateral means the “Collateral” (or any equivalent term) as defined in the U.S. Security Agreement or any other applicable U.S. Security Document, together with any other assets (whether Real Property or personal property) pledged pursuant to any U.S. Security Document.

  • ABL Collateral Documents means all “Security Documents” as defined in the Original ABL Credit Agreement, and all other security agreements, mortgages, deeds of trust and other collateral documents executed and delivered in connection with any ABL Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted securing any ABL Obligations or under which rights or remedies with respect to such Liens are governed, in each case as the same may be amended, supplemented, waived or modified from time to time.

  • Permitted Priority Liens means (i) Liens permitted under Section 9.02(c), (d), (e), (f), (g), and (j), and (ii) Liens permitted under Section 9.02(b) provided that such Liens are also of the type described in Section 9.02(c), (d), (e), (f), (g), and (j).

  • ABL Collateral Agent means the “Collateral Agent” as defined in the ABL Credit Agreement.