First Priority Collateral Trustee definition

First Priority Collateral Trustee means the collateral trustee under the First Priority Collateral Trust Agreement and any permitted successor thereto.
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First Priority Collateral Trustee means HSBC Bank USA, National Association, as collateral trustee under the First Priority Collateral Trust Agreement and any permitted successor thereto.
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First Priority Collateral Trustee has the meaning assigned to that term in the Recitals to this Agreement.
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Examples of First Priority Collateral Trustee in a sentence

  • In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control as between the First Priority Collateral Trustee, the First Priority Indenture Trustee and any other First Priority Claimholders and the Second Priority Collateral Trustee, the Second Priority Indenture Trustee and any other Second Priority Claimholders.

  • In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control as between the First Priority Collateral Trustee, the First Priority Indenture Trustee, the Second Priority Collateral Trustee, the Second Priority Indenture Trustee, and any other Second Priority Holders (as such terms are defined in the Intercreditor Agrement).

  • In the event that the First Priority Obligations are duly performed and indefeasibly satisfied, and due to such performance the Pledged Equity Interest is released by the First Priority Collateral Trustee pursuant to the terms of the First Priority Pledge Agreement and the First Priority Pledge Agreement ceases to be in force and effect (the “Condition Precedent”), this agreement shall become effective and in full force and effect.

  • Without limiting the foregoing, neither the Second Priority Collateral Trustee, the Second Priority Indenture Trustee nor the other Second Priority Claimholders shall have any right, privilege or power to direct the First Priority Collateral Trustee, the First Priority Indenture Trustee or other First Priority Claimholders to exercise any rights, privileges, powers, or remedies with respect to the Collateral.

  • Until the Discharge of First Priority Obligations has occurred, if the Second Priority Collateral Trustee or any other Second Priority Claimholders shall, at any time, receive any proceeds of any such insurance policy or any such award or payment in contravention of this Agreement, it shall segregate and hold in trust and forthwith pay such proceeds over to the First Priority Collateral Trustee in accordance with the terms of Section 4.2.

  • In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control as between the First Priority Collateral Trustee, the First Priority Indenture Trustee, the Second Priority Collateral Trustee, the Second Priority Indenture Trustee, and any other Second Priority Holders (as such term is defined in the Intercreditor Agrement).

  • This Agreement and the rights, privileges, powers and benefits hereof shall inure to the benefit of, and be binding upon, each of the parties hereto and its respective successors and assigns and shall inure to the benefit of, and be binding upon, each of the First Priority Collateral Trustee, the First Priority Indenture Trustee, the other First Priority Claimholders, the Second Priority Collateral Trustee, the Second Priority Indenture Trustee and the other Second Priority Claimholders.

  • Each of the Second Priority Indenture Trustee and the Second Priority Collateral Trustee, each on behalf of itself and the other Second Priority Claimholders, agrees to promptly pay over to the First Priority Collateral Trustee all amounts received to the extent that such payments would have been prohibited hereunder if such First Priority Obligations had not been paid to the First Priority Claimholder.

  • The Lien priorities provided or contemplated in Section 2.1 hereof shall not be altered or otherwise affected by any action or inaction which any of the First Priority Collateral Trustee or the other First Priority Claimholders or the Second Priority Collateral Trustee or the other Second Priority Claimholders may take or fail to take in respect of the Collateral.

  • Each of the Second Priority Indenture Trustee and the Second Priority Collateral Trustee, (each on behalf of itself and the other Second Priority Claimholders) and the First Priority Indenture Trustee and the First Priority Collateral Trustee (each on behalf of itself and the other First Priority Claimholders), hereby waive any right, privilege or power it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement.


More Definitions of First Priority Collateral Trustee

First Priority Collateral Trustee means HSBC Bank USA,
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First Priority Collateral Trustee means the First Priority Collateral Trustee under the First Collateral Trust Agreement.
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Related to First Priority Collateral Trustee

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

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Second Priority Collateral Documents means the Security Documents (as defined in the Second Priority Credit Agreement) and the Second Priority Guaranty and any other agreement, document or instrument pursuant to which a Lien is granted securing any Second Priority Obligations or under which rights or remedies with respect to such Liens are governed.

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

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