Second Lien Secured Obligations definition

Second Lien Secured Obligations means the “Second Lien Secured Obligations” as defined in the Closing Date Intercreditor Agreement.

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Second Lien Secured Obligations means, at any time, (a) the Second Lien Notes Indenture Secured Obligations, and (b) the Additional Second Lien Secured Obligations; provided that, notwithstanding anything to the contrary in this Agreement, the term “Second Lien Secured Obligations” shall exclude any obligation that was not permitted to be incurred, and secured by Second Liens on the Second Lien Collateral, by this Agreement and by each First Lien Loan Document and each Second Lien Debt Document in effect at the time of such incurrence.

Second Lien Secured Obligations has the meaning assigned to the term “Obligations” in the Credit Agreement.

Examples of Second Lien Secured Obligations in a sentence

• Upon the occurrence of the Discharge of Second Lien Secured Obligations, the Designated Second Lien Representative shall deliver to the Parent Borrower any proceeds of Collateral held by it in the same form as received, with any necessary endorsements (such endorsements shall be without recourse and without any representation or warranty) or as a court of competent jurisdiction may otherwise direct.

• Upon the payment in full in cash of the First Lien Secured Obligations, the Second Lien Secured Obligations and the Third Lien Secured Obligations, this Article VII shall cease to be of any effect except for this Section 7.12.

• For the avoidance of doubt, notwithstanding any other provision of the Transaction Documents, in no event shall the Borrowers owe or be charged for or shall Collateral secure an amount in the aggregate greater than the amount equal to the sum of the Second Lien Secured Obligations then outstanding plus the Fourth Lien Secured Obligations then outstanding.

• No Holdco shall incur any Liens on Equity Interests of Intermediate Holdings or the Borrower, other than non‑consensual Liens and those for the benefit of the First Lien Secured Obligations and the Second Lien Secured Obligations (subject at all times to the Closing Date Intercreditor Agreement).

• Each First Lien Secured Party agrees that it will not challenge or question in any proceeding (including in any Bankruptcy/Liquidation Proceeding) the validity or enforceability of any Second Lien Security Document, or the validity, attachment, perfection or priority of any Lien on the Collateral securing any of the Second Lien Secured Obligations.

More Definitions of Second Lien Secured Obligations

Second Lien Secured Obligations as defined in the Intercreditor Agreement.

Second Lien Secured Obligations means the Obligations under the New Indenture and any other Indebtedness secured on a pari passu second lien basis with the Obligations under the New Notes (including the Obligations under the 2028 Private Exchange Notes); provided that such Indebtedness is expressly permitted to be so incurred, secured and guaranteed on such basis by the then-existing documents governing the First Lien Secured Obligations and the Second Lien Secured Obligations and the holders of such Indebtedness or their Designated Representative shall have become party to the First Lien/Second Lien Intercreditor Agreement and the Second Lien Collateral Trust Agreement.

Second Lien Secured Obligations means any Notes, Exchange Notes, Additional Notes, Secured Swap Obligations relating to Currency Agreements in respect of the Notes, Banking Service Obligations and any other Indebtedness that has a Pari Passu Lien Priority relative to the Notes with respect to the Collateral; provided that Second Lien Representative for the holders of such Indebtedness (other than any Additional Notes) shall have executed a joinder to the Collateral Trust and Agency Agreement in the form provided therein.

Second Lien Secured Obligations means the “Secured Obligations”, as defined in the Second Lien Pledge and Security Agreement (including any such “Secured Obligations” arising or accruing under Section 2.1, 2.23, 2.24 or 2.25 of the Second Lien Credit Agreement or during the pendency of any Insolvency or Liquidation Proceeding) (or any Refinancing thereof constituting New Second Lien Obligations in accordance with the provisions of Section 7.02(b)) notwithstanding that any such “Secured Obligations” or claims therefor shall be disallowed, voided or subordinated in any Insolvency or Liquidation Proceeding or under any Bankruptcy Law or other applicable law.

Second Lien Secured Obligations means all “Loans” outstanding under and as defined in the Credit Agreement and the other Second Lien Credit Documents, an aggregate principal amount at any one time outstanding of up to $25,000,000, as such principal amount may be increased by amendments complying with Section 5.3(b) of the Intercreditor Agreement, the Series A Preferred Stock (as defined in the Hillside- Ampex/Sherborne Agreement), the guarantees by the Subsidiary Guarantors of the Loans and of the Series A Preferred Stock contained in the Hillside-Ampex/Sherborne Agreement executed and delivered in connection with the Credit Agreement, and all other obligations, liabilities and indebtedness of every kind, nature and description owing by the Grantors to the Second Lien Claimholders and/or any of their respective affiliates under or in connection with the Second Lien Credit Documents (as in effect on the date hereof or amended in accordance with the terms thereof and hereof), including interest, charges, fees, costs, indemnities and expenses, however evidenced, whether as principal, surety, endorser, guarantor or otherwise, whether now existing or hereafter arising, whether arising before, during or after the initial or any renewal term of the Credit Agreement or after the commencement of an Insolvency or Liquidation Proceeding (including the payment of interest and other amounts which would accrue and become due but for the commencement of such Insolvency or Liquidation Proceeding, whether or not such amounts are allowed or allowable in whole or in part in such Insolvency or Liquidation Proceeding), whether direct or indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured, and however acquired by the Second Lien Claimholders. To the extent any payment with respect to the Second Lien Secured Obligations (whether by or on behalf of any Grantor, as proceeds of security, enforcement of any right of set-off or otherwise) is declared to be fraudulent or preferential in any respect, set aside or required to be paid to a debtor in possession, trustee, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred.

Second Lien Secured Obligations shall have the meaning assigned to such term in the Guarantee and Collateral Agreement and the other Security Documents.

Second Lien Secured Obligations means the Obligations under this Indenture and any other Indebtedness secured on a pari passu second lien basis with the Obligations under the Notes; provided that the holders of such Indebtedness or their Designated Representative shall have entered into an Approved Intercreditor Agreement.