Second Lien Adequate Protection Payments definition

Second Lien Adequate Protection Payments has the meaning set forth in Section 6.3(b).
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Second Lien Adequate Protection Payments and the First Lien Claimholders do not receive payment in full in cash of all First Lien Obligations upon the effectiveness of the plan of reorganization for, or conclusion of, that Insolvency or Liquidation Proceeding, then each Second Lien Claimholder shall pay over to the First Lien Claimholders an amount (the “Pay-Over Amount”) equal to the lesser of (i) the Second Lien Adequate Protection Payments received by such Second Lien Claimholder and (ii) the amount of the short-fall (the “Short Fall”) in payment in full in cash of the First Lien Obligations; provided that to the extent any portion of the Short Fall represents payments received by the First Lien Claimholders in the form of promissory notes, equity or other property equal in value to the cash paid in respect of the Pay-Over Amount, the First Lien Claimholders shall, upon receipt of the Pay-Over Amount, transfer those promissory notes, equity or other property, equal in value to the cash paid in respect of the Pay-Over Amount, to the applicable Second Lien Claimholders pro rata in exchange for the Pay-Over Amount. Notwithstanding anything herein to the contrary, the First Lien Claimholders shall not be deemed to have consented to, and expressly retain their rights to object to, the grant of adequate protection in the form of cash payments to the Second Lien Claimholders made pursuant to this Section 6.3(b).
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Second Lien Adequate Protection Payments is defined in section 6.4(b)(iv).
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Examples of Second Lien Adequate Protection Payments in a sentence

  • All provisions of this Section 8 shall be subject to Section 9.9. Notwithstanding any other provision of this Agreement, the provisions of this Article VIII will not apply to Second Lien Adequate Protection Payments.

  • Upon entry of an order directing disgorgement, further Second Lien Adequate Protection Payments shall cease pending further order of a court of competent jurisdiction.

  • Yet, the Committee is attempting to get a completely unwarranted second bite at the apple, objecting yet again to the Second Lien Adequate Protection Payments and seizing the opportunity to expound on its distorted perception of Third Circuit law.

  • TruScreen is further described in Section 2: TruScreen and what it does and Section 7: TruScreen’s financial information.Purpose of this OfferThe purpose of the Offer is to raise not less than NZ$1 million and not more than NZ$2 million of new capital through the issue of up to a maximum of 28,571,428 million new ordinary fully paid shares in TruScreen.

  • Other than the True-Up Second Lien Professional Payment, the Second Lien Obligors shall not make Second Lien Adequate Protection Payments in excess of $200,000 in any calendar month in which they remain obligated to pay the Second Lien Adequate Protection Payments (the “SecondLien AP Cap Amount”) and no unused amount of the Second Lien AP Cap Amount shall be credited or rolled over to any month subsequent to the month in which the Second Lien Adequate Protection Payments are made.

  • In the event of a timely and successful challenge in respect of the Pre-Petition Second Lien Obligations, the Court shall fashion an appropriate remedy, including, but not limited to, disgorgement or recharacterization of any Second Lien Adequate Protection Payments.

  • Adequate protection payments to the Second Lien Parties are also appropriate in light of the sale of substantially all of the7 As more fully explained in the Motion of the Second Lien Parties for Allowance of Their Adequate Protection Claims [D.I. 1314], the Second Lien Parties take the position that the amount of diminution in the value of their collateral vastly exceeds the total value of the Second Lien Adequate Protection Payments received during the pendency of the Debtors’ chapter 11 cases.

  • A., Piuri, V., Plataniotis, K.N., Scotti, F.: Palmnet: Gabor-pca con- volutional networks for touchless palmprint recognition.

  • Notwithstanding anything herein to the contrary, First Lien Claimholders will not be deemed to have consented to, and expressly retain their rights to object to, the payment of Second Lien Adequate Protection Payments.


More Definitions of Second Lien Adequate Protection Payments

Second Lien Adequate Protection Payments. If a Second Lien Claimholder receives Second Lien Adequate Protection Payments before the Discharge of First Lien Obligations, then upon the effective date of any plan or the conclusion or dismissal of any Insolvency Proceeding, the Second Lien Claimholder will pay over to the First Lien Authorized Person, as they direct, pursuant to section 4.1, “Application of Proceeds,” an amount equal to the lesser of (i) the Second Lien Adequate Protection Payments received by the Second Lien Claimholder and (ii) the amount necessary to Discharge the First Lien Obligations. Notwithstanding anything herein to the contrary, First Lien Claimholders will not be deemed to have consented to, and expressly retain their rights to object to, requests by Second Lien Agent, for Second Lien Adequate Protection Payments (other than as permitted under section 6.4(b)(i)-(iii)).
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Second Lien Adequate Protection Payments. If a Second Lien Secured Party receives Second Lien Adequate Protection Payments before the Discharge of First Lien Priority Obligations, then upon the effective date of any plan or the conclusion or dismissal of any Insolvency or Liquidation Proceeding, the Second Lien Secured Party will pay over to the First Lien Administrative Agent pursuant to Section 4.01, an amount equal to the lesser of (i) the Second Lien Adequate Protection Payments received by the Second Lien Secured Party and (ii) the amount necessary to effect the Discharge of First Lien Priority Obligations. Notwithstanding anything herein to the contrary, First Lien Secured Parties will not be deemed to have consented to, and expressly retain their rights to object to, the payment of Second Lien Adequate Protection Payments.
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Second Lien Adequate Protection Payments and the First Lien Claimholders do not receive payment in full in cash of all First Lien Obligations upon the effectiveness of the plan of reorganization for, or conclusion of, that Insolvency or Liquidation Proceeding, then, each Second Lien Claimholders shall, if requested by a First Lien Representative (at the direction of the Required Lenders (as defined in the applicable First Lien Credit Documents)), pay over to the First Lien Claimholders an amount (the “Pay-Over Amount”) equal to the lesser of (i) the Second Lien Adequate Protection Payments received by such Second Lien Claimholders and (ii) the amount of the short-fall (the “Short Fall”) in payment in full in cash of the First Lien Obligations. Notwithstanding anything herein to the contrary, the First Lien Claimholders shall not be deemed to have consented to, and expressly retain their rights to object to the grant of adequate protection in the form of cash payments to the Second Lien Claimholders made pursuant to the foregoing Section 6.3(b).
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Second Lien Adequate Protection Payments is defined in section 5.4(b)(4). Second Lien Agent is defined in the Preamble. Second Lien Claimholders is defined in the Preamble.
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Second Lien Adequate Protection Payments means any payments or distributions of cash, notes or other securities authorized to be made to the Second Lien Claimholders by a court of competent jurisdiction in any Insolvency or Liquidation Proceeding as adequate protection for the Second Lien Obligations or for the Liens on the Collateral securing the Second Lien Obligations, to the extent granted in conformity with this Agreement.
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Second Lien Adequate Protection Payments is defined in section 6.4(b)(iv).
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Related to Second Lien Adequate Protection Payments

  • Interest Rate Protection Agreement means any interest rate swap agreement, interest rate cap agreement, interest collar agreement, interest rate hedging agreement or other similar agreement or arrangement.

  • Interest Rate Protection Obligations of any Person means the obligations of such Person pursuant to any arrangement with any other Person whereby, directly or indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying a fixed rate of interest on a stated notional amount in exchange for periodic payments made by such Person calculated by applying a floating rate of interest on the same notional amount.

  • Secured Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Credit Party and any Cash Management Bank.

  • Prepetition Credit Agreement has the meaning specified in the recitals hereto.

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • Prepetition Lenders means the Persons identified as "Lenders" under the Prepetition Credit Agreement, in their capacities as lenders under the Prepetition Credit Agreement, together with their successors and permitted assigns.

  • Prepetition Loan Documents means the “Loan Documents” as defined in the Prepetition Credit Agreement.

  • Second Lien Loan Documents means the Second Lien Credit Agreement and the other “Loan Documents” under and as defined in the Second Lien Credit Agreement, as each such document may be amended, renewed, restated, supplemented or otherwise modified from time to time.

  • Second Lien Credit Agreement means the Second Lien Credit Agreement, dated as of the Effective Date, among Holdings, the Borrowers, the lenders party thereto and Deutsche Bank AG New York Branch, as administrative agent and collateral agent.

  • Foreign Obligations means any Obligations of a Foreign Borrower or Foreign Guarantor (in each case in its capacity as such).

  • First Lien Security Documents means the Security Documents and any other agreement, document or instrument pursuant to which a lien is granted or purported to be granted securing First Lien Obligations or under which rights or remedies with respect to such liens are governed, in each case to the extent relating to the collateral securing the First Lien Obligations.