Senior Priority Collateral definition

Senior Priority Collateral means any “Collateral” as defined in any First Lien Credit Agreement Credit Document or any other Senior Priority Debt Document or any other assets of Holdings, the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Priority Collateral Document as security for any Senior Priority Obligations.

Senior Priority Collateral means (a) with respect to the ABL Agent and any other ABL Secured Party, ABL Priority Collateral and (b) with respect to the Term Agent and any other Term Secured Party, Term Priority Collateral.

Senior Priority Collateral means any and all Collateral that secures or purports to secure any Senior Priority Obligations.

Examples of Senior Priority Collateral in a sentence

• In exercising rights and remedies with respect to the Senior Priority Collateral, the Senior Priority Representatives and the other Senior Priority Secured Parties may enforce the provisions of the Senior Priority Debt Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion.

• Notwithstanding the foregoing, the relative rights and obligations of the Senior Priority Representatives and the other Senior Priority Secured Parties (as amongst themselves) with respect to any Senior Priority Collateral shall be governed by the terms of the First Lien Intercreditor Agreement and in the event of any conflict between the First Lien Intercreditor Agreement and this Agreement, the provisions of the First Lien Intercreditor Agreement shall control.

• Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the other Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

More Definitions of Senior Priority Collateral

Senior Priority Collateral means, (a) with respect to the ABL Priority Obligations, all ABL Priority Collateral and (b) with respect to the Note Priority Obligations, all Note Priority Collateral.

Senior Priority Collateral means (a) with respect to FastPay, the FastPay Priority Collateral and (b) with respect to Non-ABL Creditor, the Non-ABL Creditor Priority Collateral.

Senior Priority Collateral means, (a) with respect to the Working Capital Lender, the Working Capital Lender Priority Collateral, (b) with respect to the Term Loan Lenders, the Term Loan Lender Priority Collateral and, after the payment in full of the Pioneer Lender Debt, the Pioneer Lender Priority Collateral, and (c) with respect to the Pioneer Lender, the Pioneer Lender Priority Collateral and, after the payment in full of the Term Loan Debt, the Term Loan Lender Priority Collateral.

Senior Priority Collateral means all of the assets of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any Senior Priority Claim.

Senior Priority Collateral is defined in the Subordinated Intercreditor Agreement.

Senior Priority Collateral means (a) with respect to the Revolving Collateral Agent and Revolving Secured Parties, ABL Priority Collateral subject to their Senior Liens, (b) with respect to the Note Collateral Agent and the Note Secured Parties, Non-ABL Priority Collateral (other than, in the case of any Specified Note Secured Party, Crack Spread Hedging Collateral relative to any applicable Crack Spread Hedging Secured Party) subject to their respective Senior Liens, and (c) with respect to each Crack Spread Hedging Secured Party, Crack Spread Hedging Collateral subject to its Senior Liens.

Senior Priority Collateral means the Shared Collateral up to a maximum amount equal to 10% of Consolidated Net Tangible Assets (as such term is defined in the 1996 Indenture), such amount being equal to approximately $139.7 million as of June 30, 2002 as such amount may increase from time to time (and not thereafter decrease) as of any date on which any Senior Secured Obligations are incurred.