Senior Adequate Protection Liens definition

Senior Adequate Protection Liens has the meaning set forth in Section 6.2.
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Senior Adequate Protection Liens as defined in Section 6.2.
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Senior Adequate Protection Liens shall have the meaning ascribed to it in Section 4(f) below.
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Examples of Senior Adequate Protection Liens in a sentence

  • Notwithstanding the foregoing, the Debtors are authorized to and shall execute anddeliver to the Prepetition Term Loan Agent such financing statements, mortgages, instruments and other documents as the Prepetition Term Loan Agent may reasonably request from time to time to provide further evidence of the perfection of the Senior Adequate Protection Liens.

  • The Senior Adequate Protection Liens shall otherwise be senior to all other security interests in, liens on, or claims against any of the Collateral.

  • As a condition to the use of Cash Collateral, the Prepetition Secured Parties required an adequate protection package consisting of Senior Adequate Protection Liens, an Adequate Protection Superpriority Claim, Adequate Protection Payments, Adequate Protection Fees, and certain obligations related to reporting and access to books and records, as described in greater detail in the Cash Collateral Motion and the Interim Order (collectively, the “ Adequate Protection”).

  • Any stay, modification, reversal, or vacation of this Final DIP Order shall not affect the validity and enforceability of any DIP Obligations of the Debtors to the DIP Agent and the DIP Lenders incurred pursuant to this Final DIP Order or the validity, priority, or enforceability of any of the DIP Liens and Super-Priority Claims granted to the DIP Agent and the DIP Lenders and the Senior Adequate Protection Liens under this Final DIP Order.

  • The Junior Adequate Protection Lien is and shall be valid, binding, enforceable and fully perfected as of the date hereof and subordinate and subject only to (i) the DIP Liens, (ii) the Prepetition Perfected Liens, (iii) the Carve Out, (iv) the Senior Adequate Protection Liens, and (v) the Prepetition Senior Liens.

  • The Senior Adequate Protection Liens shall be junior only to: (A) the Carve Out; (B) the Senior Permitted Prior Liens; and (C) the Prepetition Senior Liens.

  • The RBS Adequate Protection Liens shall be subject and subordinate only to the Senior Adequate Protection Liens.

  • Any automatic stay otherwise applicable to thePrepetition Agents or Prepetition Lenders is hereby modified so that five (5) business days after the Termination Declaration Date (the “Remedies Notice Period”), the Senior Secured Partiesshall be entitled to exercise their rights and remedies to satisfy the Senior Obligations, the Senior Secured Parties Adequate Protection Superpriority Claim, Senior Adequate Protection Liens, and any other obligation under this Interim Order or the Senior Loan Documents.

  • The Subordinated Adequate Protection Liens shall be junior only to: (A) the Carve Out; (B) the Prepetition Senior Liens; (C) the Permitted Prior Liens; (D) the Senior Adequate Protection Liens; and (E) the Prepetition Subordinated Liens.


More Definitions of Senior Adequate Protection Liens

Senior Adequate Protection Liens shall have the meaning set forth in Section 2.3(d).
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Senior Adequate Protection Liens means any “replacement Liens” granted to the Senior Secured Parties as adequate protection of their interests in their Senior Collateral in respect of any Revolving Credit DIP Facility or Term Loan DIP Facility, as applicable.
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Senior Adequate Protection Liens means the adequate protection liens granted to the Prepetition Lenders and the Senior Noteholders pursuant to the Final Cash Collateral and Adequate Protection Order. The DIP Orders (as defined below) shall contain provisions prohibiting the Loan Parties from incurring any indebtedness during the pendency of the Cases that ranks pari passu with or senior to the Loan Parties’ obligations under the DIP Facility (the “DIP Obligations”). Term The loans under the DIP Facility (the “DIP Loans”) shall be repaid in full on (each, the “Final Maturity Date”) the earliest to occur of: (i) the effective date of the Plan (the “Effective Date”), (ii) December 31, 2011; provided that such date shall be automatically extended to March 31, 2012 if the End Date (as defined in Section 6.01(a)(v) of the Investment Agreement) is extended to March 31, 2012 pursuant to the terms of the Investment Agreement (the “Scheduled Maturity Date”), (iii) 90 days following payment by the Investor of the Reverse Break-Up Fee under the Investment Agreement (as such terms are defined therein), and (iv) the acceleration of the DIP Loans, including upon the occurrence of an Event of Default (as defined in the DIP Loan Documents and including, without limitation, the events of default set forth herein under the section entitled “Events of Default”) as provided herein, in accordance with the terms of the definitive documentation in respect of the DIP Facility and the DIP Collateral (the “DIP Loan Documents”).
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Senior Adequate Protection Liens means the adequate protection liens granted to the Prepetition Lenders and the Senior Noteholders pursuant to the Final Cash Collateral and
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Senior Adequate Protection Liens has the meaning assigned to such term in Section 6.01(a).
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Related to Senior Adequate Protection Liens

  • Transaction Liens means the Liens on Collateral granted by the Credit Parties under the Security Documents.

  • Prepetition Collateral shall have the meaning provided in Section 3.1(b).

  • Senior Liens means (a) with respect to the ABL Priority Collateral, all Liens securing the ABL Obligations and (b) with respect to the Term Loan Priority Collateral, all Liens securing the Term Loan Obligations.

  • 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.

  • Prepetition means arising or accruing prior to the Petition Date.

  • Eligible Liens means, any right of offset, banker’s lien, security interest or other like right against the Portfolio Investments held by the Custodian pursuant to or in connection with its rights and obligations relating to the Custodian Account, provided that such rights are subordinated, pursuant to the terms of the Custodian Agreement, to the first priority perfected security interest in the Collateral created in favor of the Collateral Agent, except to the extent expressly provided therein.

  • Discharge of Senior Lender Claims means, except to the extent otherwise provided in Section 5.7 below, payment in full in cash (except for contingent indemnities and cost and reimbursement obligations to the extent no claim has been made) of (a) all Obligations in respect of all outstanding Senior Lender Claims and, with respect to letters of credit or letter of credit guaranties outstanding thereunder, delivery of cash collateral or backstop letters of credit in respect thereof in compliance with the Credit Agreement, in each case after or concurrently with the termination of all commitments to extend credit thereunder and (b) any other Senior Lender Claims that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid; provided that the Discharge of Senior Lender Claims shall not be deemed to have occurred if such payments are made with the proceeds of other Senior Lender Claims that constitute an exchange or replacement for or a refinancing of such Obligations or Senior Lender Claims. In the event the Senior Lender Claims are modified and the Obligations are paid over time or otherwise modified pursuant to Section 1129 of the Bankruptcy Code, the Senior Lender Claims shall be deemed to be discharged when the final payment is made, in cash, in respect of such indebtedness and any obligations pursuant to such new indebtedness shall have been satisfied.

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

  • DIP Financing Liens has the meaning assigned to such term in Section 2.05(b).

  • Postpetition means arising or accruing on or after the Petition Date and before the Effective Date.

  • DIP means debtor-in-possession.

  • Liens means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior 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 Senior Collateral Document as security for any Senior Obligations.

  • First Priority Obligations means (a) with respect to the Existing First Priority Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement and (b) with respect to each other First Priority Agreement, all “Obligations” of each Loan Party as defined in such First Priority Agreement, and shall in any event include (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable First Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any First 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 Second 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, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Noteholder Claims means all Obligations in respect of the Notes or arising under the Noteholder Documents or any of them, including all fees and expenses of the Trustee thereunder.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • Existing Liens means Liens on the property or assets of the Company and/or any of its Subsidiaries existing on the date of this Indenture securing Indebtedness of the Company or any of its Subsidiaries (other than Liens incurred pursuant to clause (1) of Section 4.07 hereof).

  • Permitted Priority Liens means (i) Liens permitted under Section 9.02(c), (d), (e), (f), (g), and (j), and (ii) Liens permitted under Section 9.02(b) provided that such Liens are also of the type described in Section 9.02(c), (d), (e), (f), (g), and (j).

  • 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 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.

  • Junior Priority Obligations means the Original Second Lien Obligations and any Additional Obligations constituting Junior Priority Debt.

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

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

  • Securing means the application of Government-approved telecommunications security equipment, devices, techniques, or services to contractor telecommunications systems.

  • Other First Liens means Liens on the Collateral that are pari passu with the Liens thereon securing the Term B Loans (and other Loan Obligations that are pari passu with the Term B Loans) pursuant to a Permitted Pari Passu Intercreditor Agreement.