Second Priority Debt Facility definition

Second Priority Debt Facility means each indenture or other governing agreement with respect to any Second Priority Debt.

Second Priority Debt Facility means the indenture or other governing agreement or instrument with respect to any Second Priority Debt.

Second Priority Debt Facility means the Second Priority Credit Agreement and any Refinancing thereof.

Examples of Second Priority Debt Facility in a sentence

• Each Second Priority Representative, on behalf of itself and each Second Priority Debt Party under its Second Priority Debt Facility, hereby waives any rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of Senior Obligations has occurred.

• Nothing in this Section 5.01(a) will be deemed to affect any agreement of a Second Priority Representative, for itself and on behalf of the Second Priority Debt Parties under its Second Priority Debt Facility, to release the Liens on the Second Priority Collateral as set forth in the relevant Second Priority Debt Documents.

• Until the Discharge of Senior Obligations has occurred, each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding or take any action in derogation thereof, in each case in respect of any Shared Collateral, without the prior written consent of the Designated Senior Representative.

• Until the Discharge of Senior Obligations has occurred, each Second Priority Representative, on behalf of itself and each Second Priority Debt Party under its Second Priority Debt Facility, agrees that it will not assert or enforce any claim under Section 506(c) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law senior to or on a parity with the Liens securing the Senior Obligations for costs or expenses of preserving or disposing of any Shared Collateral.

• Each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, agrees that notice received two Business Days prior to the entry of an order approving such usage of cash or other collateral or approving such financing shall be adequate notice.

More Definitions of Second Priority Debt Facility

Second Priority Debt Facility means each of the Second Lien [Credit Agreement][Indenture] and each indenture or other governing agreement with respect to any other Second Priority Debt.

Second Priority Debt Facility means each note, term loan, revolving credit facility or other debt instrument created under the terms of the Second Priority Debt Documents.

Second Priority Debt Facility means (a) with respect to ABL Priority Collateral, the Term Credit Facilities and (b) with respect to Notes Priority Collateral, the ABL Credit Facility.

Second Priority Debt Facility means the Indenture and any Refinancing thereof.

Second Priority Debt Facility means each indenture, credit agreement or other governing agreement with respect to any Second Priority Debt. “Second Priority Debt Obligations” means, with respect to any series, issue or class of Second Priority Debt, all amounts owing pursuant to the terms of such Second Priority Debt, including, without limitation, the obligation (including guarantee obligations) to pay principal, interest (including interest, fees and expenses that accrues after the commencement of a Bankruptcy Case, regardless of whether such interest is an allowed claim under such Bankruptcy Case), letter of credit commissions, reimbursement obligations, charges, expenses, fees, attorneys costs, indemnities and other amounts payable by a Grantor under any Second Priority Debt Document. “Second Priority Debt Parties” means the Initial Second Priority Debt Parties and, with respect to any series, issue or class of Second Priority Debt incurred after the date hereof, the holders of such Indebtedness, the Second Priority 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. “Second Priority Enforcement Date” means, with respect to any Second Priority Representative, the date which is 180 days (through which 180 day period such Second Priority Representative was the Major Second Priority Representative) after the occurrence of both (i) an Event of Default (under and as defined in the Second Priority Debt Document for which such Second Priority Representative is the Major Second Priority Representative) and (ii) the Designated Senior Representative’s and each other Representative’s receipt of written notice from such Second Priority Representative that (x) such Second Priority Representative is the Major Second Priority Representative and that an Event of Default (under and as defined in the Second Priority Debt Document for which such Second Priority Representative is the Major Second Priority Representative) has occurred and is continuing and (y) the Second Priority Debt Obligations of the series with respect to which such Second Priority Representative is the Major Second Priority Representative are currently due and payable in full (whether as a result of acceleration thereof or otherwise) in accordance with the terms of the applicable Second Priority Debt Document; provi...

Second Priority Debt Facility means the Second Lien Credit Agreement and any Future Second Lien Indebtedness Facility.

Second Priority Debt Facility means the [(i) the 2028 Secured Notes Indenture, (ii) the 2030 Secured Notes Indenture and (iii) the 2031 Secured Notes Indenture] and each other indenture, credit agreement, note purchase agreement or other governing agreement with respect to any Second Priority Debt.