Third Priority Obligations definition
Third Priority Obligations means, subject to Section 1.2, with respect to the ABL Priority Collateral and the Term Loan Priority Collateral, the Junior Term Loan Secured Obligations. To the extent any payment with respect to any Third Priority Obligation (whether by or on behalf of any Grantor, 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, 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, the Second Priority Secured Parties and the Third Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.
Third Priority Obligations means the full and prompt payment when due (whether at the stated maturity, by acceleration or otherwise) of all Obligations of the Grantors to the holders of the Third Priority Notes or Indebtedness issued pursuant to any Additional Third Priority Indebtedness Document, whether now existing or hereafter incurred under, arising out of, or in connection with, the Third Priority Notes Documents or any Additional Third Priority Indebtedness Document and the due performance and compliance by the Grantors with all of the terms, conditions and agreements contained in the Third Priority Notes Indenture or any Additional Third Priority Indebtedness Document.
Third Priority Obligations means all Obligations under and in respect of the Third Priority Debt Documents.
Examples of Third Priority Obligations in a sentence
Upon the turnover of such distributions as contemplated by the immediately preceding sentence, the Second Priority Obligations or the Third Priority Obligations, as applicable, purported to be satisfied by such distributions shall be immediately reinstated in full as though such payment had never occurred.
Upon the turnover of such Common Collateral as contemplated by the immediately preceding sentence, the Second Priority Obligations or the Third Priority Obligations purported to be satisfied by the payment of such Common Collateral shall be immediately reinstated in full as though such payment had never occurred.
The Lien priorities provided for in Section 2.01 shall not be altered or otherwise affected by any amendment, restatement, amendment and restatement, supplement or other modification, or any Refinancing, of the Second Priority Obligations, the Third Priority Obligations, or any portion thereof.
The Lien priorities provided for in Section 2.01 shall not be altered or otherwise affected by any amendment, restatement, amendment and restatement, supplement or other modification, or any Refinancing, of the First Priority Obligations, the Second Priority Obligations, the Third Priority Obligations, or any portion thereof.
Upon the turnover of such distributions as contemplated by the immediately preceding sentence, the Third Priority Obligations purported to be satisfied by such distributions shall be immediately reinstated in full as though such payment had never occurred.
More Definitions of Third Priority Obligations
Third Priority Obligations means (i) with respect to the ABL Collateral, all Second Lien Term Loan Facility Secured Obligations and (ii) with respect to the US Term Collateral and the Dutch Collateral, all ABL Secured Obligations. To the extent any payment with respect to any Third 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, 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, the Second Priority Secured Parties and the Third Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.
Third Priority Obligations means (a) the Initial Third-Priority Obligations, (b) the Other Third-Priority Obligations (if any) and (c) all other Obligations in respect of, or arising under, the Third-Priority Obligations Documents, including all fees and expenses of the collateral agent and trustee or other agent for any Other Third-Priority Obligations and shall include all interest and fees, which but for the filing of a petition in bankruptcy with respect to the Company or any Grantor, would have accrued on such obligations, whether or not a claim for such interest or fees is allowed in such proceeding (provided that Third-Priority Obligations shall exclude any such obligations the incurrence of which was not permitted under each Second-Priority Document and each Second-Priority Document extant at the time of the incurrence or issuance thereof).
Third Priority Obligations means (a) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all indebtedness under the Third Priority Agreement, (b) the obligations of the Loan Parties to the Third Priority Representative under Section 7.07 of the Third Priority Agreement and (c) all guarantee obligations, fees, expenses (including fees and expenses of counsel to the Third Priority Representative) and other amounts payable from time to time pursuant to the Third Priority Documents.
Third Priority Obligations any Premium Obligation that is not a Second Priority Obligation.
Third Priority Obligations means all outstanding Initial Third Priority Obligations and Additional Third Priority Obligations.
Third Priority Obligations has the meaning given to the term in the Collateral Agency Agreement.
Third Priority Obligations means (a) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all indebtedness under the Third Priority Agreement, and (b) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the Third Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding; provided, however, that the total amount of outstanding principal under the Third Priority Agreement shall not exceed $102,000,000.00 plus increases in such principal amount through the issuance of payment-in-kind notes pursuant to the terms of the Third Priority Agreement (except to the extent that the First Priority Reprentative has agreed in writing to permit such amount to be larger). To the extent any payment with respect to any Third 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, 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, the Second Priority Secured Parties and Third Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.