Superpriority definition

Superpriority means priority in accordance with the provisions of § 364(c)(1) of the Bankruptcy Code over any and all administrative expenses of any kind whatsoever including, without limitation, the kind specified in §§ 105, 326, 328, 330, 331, 503(b), 507(a), 507(b), 546(c) or 726 of the Bankruptcy Code.
View Source
Superpriority means the rank and payment of a priority debt over any other priority rank or claimant.
View Source
Superpriority means, with respect to any Lien purported to be created in any Collateral pursuant to the DIP Order, that such Lien is (a) a superpriority priming Lien ranking senior in priority of security to any other Lien (other than (x) the Prepetition ABL Liens (as defined in the DIP Order) and the ABL Adequate Protection Liens (as defined in the DIP Order), in each case with respect to the ABL Priority Collateral and (y) the Carve Out) and (b) the only Lien to which such Collateral is subject (other than any Permitted Liens).
View Source

Examples of Superpriority in a sentence

  • Collateral The Domestic Collateral and, subject to the Guaranty and Security Principles, the Foreign Collateral, as described under “Collateral” for the Superpriority Facility.

  • In respect of any Loan Party, incur, create, assume, suffer to exist or permit any other Superpriority Claim that is pari passu with or senior to the claims of the Agents and the Secured Parties against the Borrower and the Guarantors except with respect to the Carve-Out and Liens described in clauses (A) through (D) of Section 9.08(a)(ii).

  • The Superpriority Secured Debt Representative represents and warrants that the Superpriority Notes Indenture authorizes such Superpriority Secured Debt Representative to enter into this Agreement binding the Superpriority Secured Parties to the terms hereof.

  • To the extent permitted by applicable law, the Issuer and each Obligor hereby acknowledges and agrees that it shall not (whether as Obligor or as debtor-in-possession) agree to, or move for approval of, any DIP Financing that does not refinance or “roll up” the Superpriority Notes Claims into such DIP Financing.

  • In the event of any conflict between the provisions of this Agreement and the provisions of any Superpriority Secured Debt Document, any First Priority Secured Debt Document (which, in respect of the Relevant Leases, shall be to the extent of the AerCap Secured Obligations) or any Second Priority Secured Debt Document, the provisions of this Agreement shall govern.

  • For the avoidance of doubt, any Obligor shall not require any consent from any Secured Party or their corresponding Representative with respect to the rolling of the Superpriority Notes Claims into such DIP Financing.

  • Each Superpriority Secured Party, whether such Superpriority Secured Obligations are now outstanding or hereafter created, incurred, assumed or guaranteed, shall be deemed to have acquired Superpriority Secured Obligations in reliance upon the provisions contained in this Agreement.

  • Each of the Borrowers agrees that (i) its obligations hereunder shall not be discharged by the entry of an order confirming a Reorganization Plan (and each of the Borrowers, pursuant to Section 1141(d)(4) of the Bankruptcy Code, hereby waives any such discharge) and (ii) the Superpriority Claim granted to the Administrative Agent and the Lenders pursuant to the Order and described in Section 2.23 shall not be affected in any manner by the entry of an order confirming a Plan of Reorganization.

  • The Superpriority Secured Debt Representative and the Superpriority Secured Parties shall have no duty to advise any other party hereunder of information known to it or them regarding such condition or any such circumstances or otherwise.

  • Acknowledge pursuant to section 364(c)(1) of the Bankruptcy Code, the Obligations of the Loan Parties hereunder and under the other Loan Documents constitute allowed Superpriority Claims.


More Definitions of Superpriority

Superpriority has the meaning specified in Section 2.20 (Priority and Liens).
View Source

Related to Superpriority

  • Superpriority Claim means a claim against the Borrower and any Guarantor in any of the Cases which is an administrative expense claim having priority over any or all administrative expenses of the kind specified in Sections 503(b) or 507(b) of the Bankruptcy Code.

  • Prepetition Collateral means the collateral securing the Prepetition BP Secured Claim, including, without limitation, the Posted Collateral.

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

  • DIP means debtor-in-possession.

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