Required Priority Lenders definition

Required Priority Lenders means, collectively, the Required Revolver Lenders and the Required Term Loan Lenders.
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Required Priority Lenders has the meaning set forth in Section 1.1 of the Priority Credit Agreement. "Residual Loans" has the meaning set forth in Section 1.01 of the Second Omnibus Restructuring Agreement. "Revenue Account Waterfall" means the cash waterfall set forth in Section 5.1 of the Security Deposit Agreement. "Roll-Up Loans" has the meaning set forth in Section 1.01 of the Second Omnibus Restructuring Agreement. "Second Omnibus Restructuring Agreement" means the Second Omnibus Restructuring Agreement dated as of December 4, 2002, among the Company, the Owner, the Trustee, the Trust Company, each Tranche A Lender, each Tranche B Lender, each Interest Hedge Party, the DSR/RCE L/C Issuer, the Working Capital L/C Issuer, the Administrative Agent, the Security Agent, the Priority Lenders, Citibank, N.A., as Priority Agent and NEG. "Settlement Amounts" has the meaning set forth in Section 1.01 of the Second Omnibus Restructuring Agreement. "Tranche A Settlement Amounts" has the meaning set forth in Section 1.01 of the Second Omnibus Restructuring Agreement. "Tranche B Settlement Amounts" has the meaning set forth in Section 1.01 of the Second Omnibus Restructuring Agreement. "Waterfall Commencement Date" has the meaning set forth in Section 1.1 of the Priority Credit Agreement.
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Required Priority Lenders means, at any time, Priority Lenders holding at least in excess of 50% of the aggregate principal amount of the Priority Commitments outstanding at such time (or, in the case of Priority Commitments that have expired or been terminated, the sum of the aggregate principal amount of the Priority Loans made under such Priority Commitments and outstanding at such time).
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Examples of Required Priority Lenders in a sentence

  • The Priority Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Operative Documents in accordance with a written request of the Required Priority Lenders (or, if so specified by this Agreement, all Priority Lenders) and such written request and any action taken or failure to act pursuant thereto shall be binding upon all the Priority Lenders.

  • The Company shall issue Request Letters in respect of the transfers and disbursements contemplated by Section 5.13(b) of this Agreement, and the Security Agent shall (i) promptly deliver a copy of each such Request Letter to the Priority Agent and Priority Lenders and (ii) make such transfers and disbursements contemplated by the related Request Letter unless otherwise directed by the Required Priority Lenders.

  • The Company shall not engage in any business other than the development, acquisition, construction, leasing, operation and financing of the Project as contemplated by the Transaction Documents as in effect as of the Effective Date (unless subsequently amended with the written consent of the Required Priority Lenders).

  • If no successor agent has accepted appointment as Priority Agent by the date that is 30 days following Citibank's notice of resignation, Citibank's resignation shall nevertheless thereupon become effective and the Priority Lenders shall assume and perform all of the duties of the Priority Agent hereunder until such time, if any, as the Required Priority Lenders appoint a successor agent as provided for above.

  • The Company shall not, and shall not permit the Operator to, enter into any transaction or agreement with any Affiliate except any Transaction Document as in effect as of the Effective Date (unless subsequently amended with the written consent of the Required Priority Lenders), unless such transaction or agreement is approved by the Required Priority Lenders.

  • The Company shall not enter into any Additional Project Contract unless approved by the Priority Agent acting with the written consent of the Required Priority Lenders.

  • In addition, the Priority Agent may from time to time consent in writing to amendments, supplements, modifications or waivers with respect to this Agreement, subject to receipt of the prior written consent of the Required Priority Lenders.

  • The Company shall not terminate, amend or modify any Project Contract except with the written consent of the Required Priority Lenders.

  • The Company shall not enter into any Third Party Power Purchase Agreements or Third Party Gas Supply Agreements except with the prior approval of the Required Priority Lenders.

  • The rules of usage set forth in Annex A to the Participation Agreement are hereby incorporated herein by reference as the same are in effect as of the Effective Date as if set forth herein in full, mutatis mutandis, and without giving effect to any subsequent amendment, modification, supplement or waiver thereof unless agreed in writing by the Required Priority Lenders.


More Definitions of Required Priority Lenders

Required Priority Lenders means, as of the date of determination thereof, Priority Lenders whose outstanding Priority Term Loans, Incremental Priority Term Loans, Revolving Loans, interests in Letters of Credit and Unused Revolving Credit Commitments constitute more than 50% of the sum of the total outstanding Priority Term Loans, Incremental Priority Term Loans, Revolving Loans, interests in Letters of Credit, and Unused Revolving Credit Commitments; provided that, the Commitment of, and the portion of the outstanding Priority Term Loans, Incremental Priority Term Loans, Revolving Loans, interests in Letters of Credit and Unused Revolving Credit Commitments held or deemed held by, any Defaulting Lender shall, so long as such Lender is a Defaulting Lender, be disregarded for purposes of making a determination of Required Priority Lenders. For the purposes of this definition, (a) any Lender and its Affiliates shall constitute a single Lender, and (b) in no event shall Required Priority Lenders include fewer than two (2) Priority Lenders at any time there are two (2) or more Priority Lenders.
Sample 1
Required Priority Lenders means, at any time, Priority Lenders holding at least in excess of 50% of the aggregate principal amount of the Priority Commitments outstanding at such time (or, in the case of Priority Commitments that have expired or been terminated, the sum of the aggregate principal amount of the Priority Loans made under such Priority Commitments and outstanding at such time). "Rescission Direction" has the meaning set forth in Section 7.2 of this Agreement. "Roll-Up Loans" has the meaning given to that term in the Second Omnibus Restructuring Agreement. "Second Omnibus Restructuring Agreement" means the Second Omnibus Restructuring Agreement dated as of December 4, 2002, among the Company, the Owner, the Trustee, the Trust Company, each Tranche A Lender, each Tranche B Lender, each Investor, each Interest Hedge Party, the DSR/RCE L/C Issuer, the Working Capital L/C Issuer, the Administrative Agent, the Security Agent, the Priority Lenders, the Priority Agent and PG&E National Energy Group, Inc. "Subject Project Costs" means all costs of acquiring, developing, financing and constructing the Project as set forth in the Project Budget, including: (a) all amounts payable by the Company or the Owner under the EPC Contract (other than EPC Contractor bonuses which are hereby specifically not designated as "Subject Project Costs" by the Company and the Owner and which are payable after the Completion Date), site acquisition and preparation costs and costs of acquisition and construction of the fuel handling facilities, all amounts payable by the Company or the Owner under the Generator Special Facilities Agreement, the Related Facilities Construction Contracts, the Facilities Construction Agreement, the other Construction Documents and all other costs of fuel, water and sewer interconnection and related facilities; (b) all other Project-related costs, including fuel-related costs, expenses of the Company or the Owner with respect to items that may be reimbursed by the EPC Contractor or any party to any other Construction Documents pursuant to warranty or other claims, pre-commercial operation fees and expenses under the Operating Agreement, management services fees and expenses, startup and testing costs, initial working capital costs, initial reserve fund requirements, and all other expenses to complete the acquisition, construction and financing and refinancing of the Project; (c) legal and other transaction costs related to this Agreement (including all reasonable costs,...
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Related to Required Priority Lenders

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • Second Priority Collateral Documents means the Initial Second Priority Collateral Documents and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any Grantor for purposes of providing collateral security for any Second Priority Debt Obligation.

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt, (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents and (c) any renewals or extensions of the foregoing.

  • Second Priority Documents means each Second Priority Agreement, each Second Priority Security Document and each Second Priority Guarantee.

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate or Representative of such holder at the time of entry into such Hedging Obligations;

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

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

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

  • Second Priority Obligations means (a) with respect to the Existing Second Priority Agreement, all “Secured Obligations” of each Loan Party as defined in the “Security Agreement” referred to in the Existing Second Priority Agreement and (b) with respect to each other Second Priority Agreement, (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all indebtedness under such Second Priority Agreement, and (ii) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable Second Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Second Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any First Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties hereunder, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Second Priority Debt Parties means the Initial Second Priority Debt Parties and, with respect to any series, issue or class of Second Priority Debt, the holders of such Indebtedness, the Representative with respect thereto, any trustee or agent therefor under any related Second Priority Debt Documents and the beneficiaries of each indemnification obligation undertaken by the Borrower or any other Grantor under any related Second Priority Debt Documents.

  • Priority Lien Cap means, as of any date, the maximum aggregate principal amount of Indebtedness permitted to be incurred by clause (1) of the definition of Permitted Debt. For purposes of this definition, all letters of credit will be valued at the face amount thereof, whether or not drawn.

  • Second Priority Debt means any Indebtedness of the Borrower or any other Grantor guaranteed by the Guarantors (and not guaranteed by any Subsidiary that is not a Guarantor), including the Initial Second Priority Debt, which Indebtedness and guarantees are secured by the Second Priority Collateral on a pari passu basis (but without regard to control of remedies, other than as provided by the terms of the applicable Second Priority Debt Documents) with any other Second Priority Debt Obligations and the applicable Second Priority Debt Documents which provide that such Indebtedness and guarantees are to be secured by such Second Priority Collateral on a subordinate basis to the Senior Debt Obligations (and which is not secured by Liens on any assets of the Borrower or any other Grantor other than the Second Priority Collateral or which are not included in the Senior Collateral); provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each Senior Debt Document and Second Priority Debt Document and (ii) except in the case of the Initial Second Priority Debt hereunder, the Representative for the holders of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying the conditions set forth in, Section 8.09 hereof. Second Priority Debt shall include any Registered Equivalent Notes and Guarantees thereof by the Guarantors issued in exchange therefor.

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

  • Junior Priority Obligations means the Initial Junior Priority Obligations and any Additional Obligations constituting Junior Priority Debt.

  • First Lien Collateral Documents means the “Security Documents” or “Collateral Documents” or similar term (as defined in the applicable First Lien Loan Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any First Lien Obligations or pursuant to which any such Lien is perfected.

  • Discharge of Priority Lien Obligations means the occurrence of all of the following:

  • Second Lien Collateral Documents means the “Security Documents” or “Collateral Documents” (as defined in the applicable Second Lien Debt Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any Second Lien Obligations or pursuant to which any such Lien is perfected.

  • Priority Lien Documents means the Credit Agreement and any other Credit Facility pursuant to which any Priority Lien Debt is incurred and the Priority Lien Security Documents.

  • Priority Lien Secured Parties means the holders of Priority Lien Obligations and any Priority Debt Representatives.

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • 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.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority 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 Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Other First Lien Obligations means (a) the due and punctual payment by any Loan Party of (i) the unpaid 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 as a claim in such proceeding) on Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Loan Party to any Secured Party under any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations 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 as a claim in such proceeding), (b) the due and punctual performance of all other obligations of such Loan Party under or pursuant to any Other First Lien Agreement and (c) the due and punctual payment and performance of all the obligations of each other Loan Party under or pursuant to any Other First Lien Agreement.

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