Secured Notes Priority Collateral definition

Secured Notes Priority Collateral means, collectively, the “Notes Priority Collateral” as defined in the Ravenswood Intercreditor Agreement and the “Noteholder Priority Collateral” as defined in the Muscle Shoals Intercreditor Agreement.
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Secured Notes Priority Collateral has the meaning set forth in the Guarantee and Security Agreement.
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Secured Notes Priority Collateral. The parties will discuss (but shall have no obligation to agree to) (i) additional collateral to be included in the New ABL Facility once the advance rates for such collateral are determined prior to closing and (ii) possible additional $25 million incremental increase in the New ABL Facility.
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Examples of Secured Notes Priority Collateral in a sentence

  • Subject to agreed upon permitted liens and except for certain excluded assets and customary exceptions, a first priority lien on all Secured Notes Priority Collateral and a second priority lien on all ABL Priority Collateral.

  • Subject to agreed upon permitted liens and except for certain excluded assets and customary exceptions, a second priority lien on all Secured Notes Priority Collateral and a third priority lien on all ABL Priority Collateral.

  • Until the Discharge of Senior Secured Notes Obligations, the delivery of any Senior Secured Notes Priority Collateral to, or the control of any Senior Secured Notes Priority Collateral by, the Senior Secured Notes Collateral Agent pursuant to the Senior Secured Notes Documents shall satisfy any delivery or control requirement hereunder or under any other Security Document.

  • Subject to agreed upon permitted liens and except for certain excluded assets and customary exceptions, a third priority lien on all Secured Notes Priority Collateral and a fourth priority lien on all ABL Priority Collateral.

  • Senior Secured Notes Priority Collateral — as defined in the Intercreditor Agreement.

  • Notwithstanding anything herein to the contrary, prior to the Discharge of All Notes Obligations (as defined in the Intercreditor Agreement), the requirements of this Agreement to deliver or grant control over Secured Notes Priority Collateral to Agent shall be deemed satisfied by delivery of or the granting of control over such Secured Note Priority Collateral to the Notes Agents (as defined in the Intercreditor Agreement) as bailee for Agent pursuant to the Intercreditor Agreement.

  • The ABL Facility Collateral Agent, on behalf of itself and the ABL Claimholders, agrees that no such Persons shall provide to such Grantor any DIP Financing to the extent that the ABL Facility Collateral Agent or any ABL Claimholder would, in connection with such financing, be granted a Lien on the Senior Secured Notes Priority Collateral senior to or pari passu with the Liens of the Senior Secured Notes Agent.

  • Subject to permitted liens and except for certain excluded assets, a second priority lien on all Secured Notes Priority Collateral and a third priority lien on all ABL Priority Collateral.

  • Redesignation of Secured Notes Priority Collateral 9399 SECTION 6.14.

  • The ABL Facility Collateral Agent, on behalf of the ABL Claimholders, hereby waives irrevocably, absolutely, and unconditionally any and all rights any ABL Claimholder may have at any time under applicable law or otherwise to have the Senior Secured Notes Priority Collateral, or any part thereof, marshaled upon any foreclosure or other enforcement of the Senior Secured Notes Agent’s Liens.


More Definitions of Secured Notes Priority Collateral

Secured Notes Priority Collateral means any collateral that secures the Secured Notes Claims on a first priority basis pursuant to the Secured Notes Documents.
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Secured Notes Priority Collateral means any collateral that secures the Secured Notes Claims on a first priority basis pursuant to the Secured Notes Documents. Exit ABL Facility On the effective date of the Agreed Plan (the “Effective Date”), the Reorganized Debtors will enter into a new revolving credit agreement of $75.0 million to be raised on market terms (the “Exit ABL Facility”), which new credit agreement and related loan, security, collateral, and other documents shall be acceptable to Oaktree. Other terms of the Exit ABL Facility will be set forth in the Definitive Documents, which shall be in form and substance acceptable to Oaktree. Exit Term Loan Facility On the Effective Date, the Reorganized Debtors may enter into a new term loan credit facility in connection with the Exit Rights Offering (as defined below) on terms and conditions that are mutually acceptable to the Debtors and Oaktree (an “Exit Term Loan Facility”). The terms of any Exit Term Loan Facility will be set forth in the Definitive Documents, which shall be in form and substance acceptable to Oaktree. Exit Rights Offering Each holder of Senior Secured Notes will be given the opportunity to participate in an up to $122.5 million rights offering in accordance with its pro rata share of the Senior Secured Notes to purchase a combination of New Common Stock at a discount to the Offering Value (as defined below) and/or loans under an Exit Term Loan Facility (if any), in each case to be agreed upon by the Debtors and Oaktree (the “Exit Rights Offering”). Proceeds of the Exit Rights Offering will be used first to satisfy any remaining unpaid balance of the DIP Term Facility outstanding on the Effective Date, second to fund the Unsecured Creditor Recovery, and third to fund any other payments required on the Effective Date and general corporate purposes. The Exit Rights Offering shall be backstopped by Oaktree. Euro Notes Rights Offering Each holder of Senior Secured Notes will be given the opportunity to participate in an up to €50.0 million rights offering in accordance with its pro rata share of the Senior Secured Notes to purchase New Common Stock at a discount to the Offering Value (as defined below) to be agreed upon by the Debtors and Oaktree (the “Euro Notes Rights Offering” and, together with the Exit Rights Offering, the “Rights Offerings”). Proceeds of the Euro Notes Rights Offering will be used to consummate the Euro Notes Exchange Offer.
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Secured Notes Priority Collateral has the meaning specified therefor in the Credit Agreement.
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Secured Notes Priority Collateral means, collectively, all of the real, personal and mixed property in which Second Priority Liens are granted (or are purported to be granted) pursuant to the Collateral Documents as security for the Revolving Obligations and shall include all “Notes Priority Collateral” as defined in the Intercreditor Agreement (but shall specifically exclude all Revolving Priority Collateral).
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Secured Notes Priority Collateral means any collateral that secures the Secured Notes Claims on a first priority basis pursuant to the Secured Notes Documents. Exit ABL Facility On the effective date of the Agreed Plan (the “Effective Date”), the Reorganized Debtors will enter into a new revolving credit agreement of $75.0 million to be raised on market terms (the “Exit ABL Facility”), which new credit agreement and related loan, security, collateral, and other documents shall be acceptable to Oaktree. Other terms of the Exit ABL Facility will be set forth in the Definitive Documents, which shall be in form and substance acceptable to Oaktree.
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Related to Secured Notes Priority Collateral

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

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

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

  • 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.

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

  • Second Priority Collateral Documents means the Noteholder Collateral Documents and any other agreement, document or instrument pursuant to which a Lien is now or hereafter granted securing any Second Priority Claims or under which rights or remedies with respect to such Liens are at any time governed.

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

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • 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.

  • Second Lien Collateral Documents means the “Security Documents” or “Collateral Documents” (as defined in the applicable Second Lien 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.

  • Senior Collateral Documents means the Security Agreement and the other “Security Documents” as defined in the Credit Agreement, the Pari Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • 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 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.

  • First Lien/Second Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, in each case, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • Senior Priority Obligations means the Original First Lien Obligations and any Additional Obligations constituting Senior Priority Debt.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • 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.

  • 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.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • 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.

  • Credit Agreement Collateral Documents means the Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and each other agreement entered into in favor of the Credit Agreement Collateral Agent for the purpose of securing any Credit Agreement Obligations.

  • First Lien Notes means the 8.000% first lien secured notes due April 1, 2027, issued by Frontier pursuant to the First Lien Notes Indenture.

  • 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.

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

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.