Priority Lien Obligations Clause Samples
Priority Lien Obligations. There are no obligations of the City payable from or secured by Net Revenues on a basis senior to the Bank Note and the obligations of the City under this Agreement other than the Priority Lien Obligations.
Priority Lien Obligations. The City will not issue any Commercial Paper Notes to refund Priority Lien Obligations without the prior written consent of the Bank.
Priority Lien Obligations. The definition of “Priority Lien Obligations” in Section 1.01 of the Credit Agreement shall be and it hereby is amended by replacing “and (b)” therein with “, (b) all Indebtedness associated with the 1.5 Lien Note Documents, (c) all Indebtedness associated with the 1.75 Lien Documents and (d).”
Priority Lien Obligations. Upon delivery to each Second-Priority Agent of a notice from the Intercreditor Agent stating that any release of Liens securing or supporting the First-Priority Lien Obligations has become effective (or shall become effective upon each Second-Priority Agent’s release), other than, in the case of Section 5.03(a)(iii), such release granted upon or following the Discharge of First-Priority Lien Obligations, each Second-Priority Agent will promptly execute and deliver (at the sole cost and expense of the Grantors) such instruments, releases, termination statements or other documents confirming such release on customary terms; provided that any Second-Priority Agent shall have the right to require an Officers’ Certificate or an Opinion of Counsel (as defined in the Secured Notes Indenture), or both, in accordance with Section 11.03(a) of the Secured Notes Indenture or comparable provision in any other Second-Priority Document in connection with the execution and delivery of any such release or other documents (including evidence of the concurrent release of the Liens securing the First-Priority Lien Obligations). In the case of the sale, transfer or other disposition of all or substantially all of the equity interests of a Grantor, the guarantee in favor of the Second-Priority Secured Parties, if any, made by such Grantor will automatically be released and discharged as and when, but only to the extent, the guarantee by such Grantor of First-Priority Lien Obligations is released and discharged (other than such release or discharge granted upon or following the Discharge of First-Priority Lien Obligations).
Priority Lien Obligations. Each Grantor hereby grants to the Collateral Agent, for the benefit of the Collateral Agent and the First Priority Secured Parties, a security interest and continuing lien on all of such Grantor's right, title and interest in, to and under all Article 9 Collateral now owned or anytime hereafter acquired by such Grantor or such Grantor now has or at any time in the future may acquire any right, title or interest.