Springing Lien Collateral definition

Springing Lien Collateral means (1) any capital stock and any indebtedness of any Restricted Subsidiary (as defined in the Legacy Notes Indenture) and (2) any Principal Property, in each case that is an asset of the Issuer or any Guarantor; provided that in either case the Springing Lien Collateral will be subject to exceptions and limitations consistent with those set forth in the Security Documents (to the extent appropriate in the applicable jurisdiction) other than any such exception or limitation applicable only prior to the Springing Lien Trigger Date.
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Springing Lien Collateral means all property of the Company and its Subsidiaries, other than the Issue Date Collateral, the Turkish Post-Closing Collateral and the Excluded Assets.
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Springing Lien Collateral means all property of the Loan Parties, other than Excluded Collateral. For the avoidance of doubt, no such property shall be deemed to be Springing Lien Collateral until the Springing Lien Trigger Date has occurred and such property has become subject to a Lien securing, with respect to a Borrower, the Obligations hereunder and, with respect to the Subsidiary Guarantors, the Subsidiary Guarantee, in each case pursuant to an executed and delivered Collateral Agreement.
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Examples of Springing Lien Collateral in a sentence

  • Other than in connection with the security interest granted herein, there is no notice of assignment, financing statement (or similar statement or instrument of registration under the Applicable Law of any jurisdiction) executed or registered by each Grantor or, to its knowledge, by any other Person with respect to any interest of any kind in any of the Account Collateral or any of the Springing Lien Collateral.

  • Other than the security interest granted herein, the Grantors shall not incur, enter into or suffer to exist any Lien upon the Account Collateral or the Springing Lien Collateral at any time.

  • It has the full power to pledge its right, if any, to the Account Collateral and the Springing Lien Collateral without any third-party rights being violated by such pledge.

  • Upon the occurrence of a Trigger Event or an Event of Default, the Administrative Agent may, or upon the written direction of the Majority Banks shall, declare the activation of the lien on the Springing Lien Collateral (such declaration, an “Activation Event”).

  • No Gerdau Entity shall create, assume or suffer to exist, any Lien on any Account Collateral or Springing Lien Collateral, as such terms are defined in the Security Agreement dated as of the date hereof among the Guarantors (except for Ameristeel) and JPMorgan Chase Bank, N.A., other than pursuant to such Security Agreement.


More Definitions of Springing Lien Collateral

Springing Lien Collateral shall have the meaning ascribed to it in the Security Agreement.
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Springing Lien Collateral has the meaning set forth in Section 2.1(b).
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Springing Lien Collateral shall have the meaning ascribed to it in the Security Agreement. “Subsidiary” means, with respect to any Person, any corporation or other entity more than 50% of the Voting Stock in which is owned or controlled, directly or indirectly, by such Person and/or by any Subsidiary of such Person. “Successful Syndication” shall have the meaning ascribed to it in the commitment letter, dated as of August 24, 2007, among the Joint Lead Arrangers, the Administrative Agent, the Collateral Agent, certain Banks, Gerdau and Ameristeel. “Taxes” has the meaning set forth in Section 4.5. “Total Commitment” means, at any time, the sum of the Commitments of each of the Banks. “Total Debt” means, as of any Date of Determination, the aggregate outstanding principal amount of Debt of Gerdau, on a Consolidated basis, as of such day. “Total Debt to EBITDA Ratio” means, as of any Date of Determination, the ratio (expressed as a decimal) of: (i) Total Debt as of such day to (ii) EBITDA for the last twelve months. “Tranche A Loan” means, as to each Bank, the loan made by such Bank hereunder with respect to such Bank’s Tranche A Commitment. “Tranche A Commitment” means, as to each Bank, the obligation of such Bank, on and subject to the terms and conditions of this Agreement, to disburse a Tranche A Loan in a principal amount up to but not exceeding the Tranche A Commitment specified opposite such Bank’s name in Schedule 1, as the same may be modified pursuant to the terms hereof. The aggregate amount of the Banks’ Tranche A Commitments is U.S.$1,250,000,000. “Tranche A Principal Payment Date” means each of the Interest Payment Dates occurring in the 42nd, 48th and 54th month after the date hereof and the Tranche A Scheduled Maturity Date. “Tranche A Scheduled Maturity Date” means the fifth anniversary of the date hereof. “Tranche B Loan” means, as to each Bank, the loan made by such Bank hereunder with respect to such Bank’s Tranche B Commitment. “Tranche B Commitment” means, as to each Bank, the obligation of such Bank, on and subject to the terms and conditions of this Agreement, to disburse a Tranche B Loan in a principal amount up to but not exceeding the Tranche B Commitment specified opposite such Bank’s name in Schedule 1, as the same may be modified pursuant to the terms hereof. The aggregate amount of the Banks’ Tranche B Commitments is U.S.$1,000,000,000. Gerdau Export and Working Capital Agreement
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Springing Lien Collateral has the meaning set forth in Section 2.1(b). “Term Loan Agreement” has the meaning set forth in the recitals hereto. “UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York. ARTICLE II
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Springing Lien Collateral in the Credit Agreement.
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Springing Lien Collateral means all of the existing and future domestic Oil and Gas Properties of the Company and the Subsidiary Guarantors that do not, at the time of the Springing Lien Trigger Date, secure the obligations of the Company and the Subsidiary Guarantors under the Credit Agreement, other than any such Oil and Gas Properties as to which the granting of a Lien thereon to secure the notes would not be permitted under applicable law or contractual restrictions and other than properties that in the aggregate, in the good faith judgment of the Company, have a Fair Market Value less than $10 million. For the avoidance of doubt, no such property shall be deemed to be Collateral until the Springing Lien Trigger Date has occurred and such property has become subject to a Lien securing the Notes under the Collateral Agreements.
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Related to Springing Lien Collateral

  • First Lien 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 First Lien Obligations.

  • Second Lien Collateral means all “Collateral”, as defined in any Second Lien Document, and any other assets of any Grantor now or at any time hereafter subject to Liens which secure, but only to the extent securing, any Second Lien Obligations.

  • First Lien Collateral Agent means the First Lien Credit Agreement Collateral Agent and any Additional First Lien Obligations Agent.

  • Second Lien Collateral Agent means the “Collateral Agent” under and as defined in the Second Lien Credit Agreement.

  • 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.

  • 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 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.

  • Canadian Collateral means the Collateral owned by (or, in the event such Collateral has been foreclosed upon, immediately prior to such foreclosure that was owned by) a Canadian Loan Party.

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

  • Loan Collateral With respect to any Mortgage Loan, the related Mortgaged Property and any personal property securing the related Mortgage Loan, including any lessor’s interest in such property, whether characterized or recharacterized as an ownership or security interest, and including any accounts or deposits pledged to secure such Mortgage Loan, and any Additional Collateral.

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

  • ABL Collateral Agent means the “Collateral Agent” as defined in the ABL Credit Agreement.

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

  • Additional First Lien Obligations means, with respect to any Series of Additional First Lien Obligations, (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 Additional First Lien Obligations, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of the foregoing.

  • Senior Lien Obligations means all revenue bonds and other obligations of the RECIPIENT outstanding on the date of execution of this loan agreement (or subsequently issued on a parity therewith, including refunding obligations) or issued after the date of execution of this loan agreement having a claim or lien on the Gross Revenue of the Utility prior and superior to the claim or lien of the loan, subject only to Maintenance and Operation Expense.

  • Priority Lien Obligations means Priority Lien Debt and all other Obligations in respect thereof.

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

  • Priority Lien Cap means, as of any date, the maximum aggregate principal amount of Indebtedness permitted to be incurred by clause (1) of the definition of Permitted Debt. For purposes of this definition, all letters of credit will be valued at the face amount thereof, whether or not drawn.

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services, in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate of such holder at the time of entry into such Hedging Obligations or Obligations in respect of cash management services.

  • Shared Collateral means, at any time, Collateral in which the holders of two or more Series of First-Lien Obligations hold a valid and perfected security interest at such time. If more than two Series of First-Lien Obligations are outstanding at any time and the holders of less than all Series of First-Lien Obligations hold a valid and perfected security interest in any Collateral at such time, then such Collateral shall constitute Shared Collateral for those Series of First-Lien Obligations that hold a valid security interest in such Collateral at such time and shall not constitute Shared Collateral for any Series which does not have a valid and perfected security interest in such Collateral at such time.

  • Initial Additional First Lien Obligations means the [Obligations] as such term is defined in the Initial Additional First-Lien Security Agreement.

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

  • Other First Lien Obligations means (a) the due and punctual payment by any Pledgor of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding) on Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Pledgor to any Secured Party under any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding), (b) the due and punctual performance of all other obligations of such Pledgor under or pursuant to any Other First Lien Agreement and (c) the due and punctual payment and performance of all the obligations of each other Pledgor under or pursuant to any Other First Lien Agreement.

  • Foreign Collateral means all Collateral of Foreign Loan Parties securing the Guaranteed Foreign Obligations.

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

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