Initial Second Priority Debt definition

Initial Second Priority Debt means the Second Priority Debt incurred pursuant to the Initial Second Priority Debt Documents.
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Initial Second Priority Debt means the Indebtedness of the Borrower issued pursuant to Section 7.01(i) (including the Guarantees of such Indebtedness provided by any Guarantor thereunder). Initial Second Priority Debt will include any Registered Equivalent Notes issued in exchange therefor.
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Initial Second Priority Debt means the Indebtedness of the Company and any other Grantor incurred pursuant to the Initial Second Priority Debt Documents.
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Examples of Initial Second Priority Debt in a sentence

  • The Initial Second Priority Representative represents and warrants that this Agreement is binding upon the Initial Second Priority Debt Parties.

  • The Initial Second Priority Representative represents and warrants that this Agreement is binding upon the Initial Second Priority Debt Parties under the Second Priority Debt Documents.

  • The Initial Second Lien Representative represents and warrants that this Agreement is binding upon the Initial Second Priority Debt Secured Parties.

  • Evidence that (i) the Initial Second Priority Debt Transactions shall have been consummated (and the Administrative Agent shall have received copies of each of the executed Initial Security Priority Debt Documents requested by the Administrative Agent), (ii) the Tender Offer shall not have been withdrawn, terminated or amended and (iii) the ▇▇▇▇▇▇▇▇▇▇ Amendments shall have become effective (and the Administrative Agent shall have received copies of each such amendment).

  • Other capitalized terms used herein and not otherwise defined herein shall have the meaning attributed to such terms in Section 1.01 of this Agreement (or if not defined in this Agreement, such terms shall have the meanings attributed to such terms in the Initial Second Priority Debt Indenture).

  • The Trustee, by its acceptance of the benefits of this Agreement and each Holder, by its acceptance of the Notes and the benefits of this Agreement, acknowledges and agrees that upon the Second Lien Notes Collateral Agent’s entry into the Intercreditor Agreements, as applicable, the Trustee and each Holder will be subject to and bound by the provisions of the Intercreditor Agreements as Initial Second Priority Debt Parties (as defined in the First/Second Lien Intercreditor Agreement).

  • The Initial Second Priority Representative represents and warrants that the Second Lien Indenture provides that, upon the Initial Second Priority Representative’s entry into this Agreement, the Initial Second Priority Debt Parties will be subject to and bound by the provisions hereof.

  • The Designated Second Priority Representative, in its capacity as the Initial Second Priority Representative, represents and warrants that it is authorized to execute this Agreement on behalf of the Initial Second Priority Debt Parties.

  • The Administrative Agent represents and warrants that this Agreement is binding upon the Initial Second Priority Debt Parties under the Initial Second Priority Loan Agreement.

  • The Trustee represents and warrants that this Agreement is binding upon the Initial Second Priority Debt Parties under the Initial Second Priority Indenture.


More Definitions of Initial Second Priority Debt

Initial Second Priority Debt means any Indebtedness that is issued, incurred or guaranteed by any Borrower and/or any Grantor, under the Indenture, the Notes (as defined in the Indenture) and the Security Documents (as defined in the Indenture), and all obligations thereunder (including obligations to pay principal, interest, charges, expenses, fees, attorneys costs, indemnities and other amounts payable by a Grantor thereunder under (including interest, fees and other amounts, if any, that accrue thereunder after the commencement by or against any Borrower or any other Grantor of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, fees and other amounts, if any, are allowed claims in such proceeding)); provided, however, that such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each then extant Senior Debt Document and Second Priority Debt Document. The Notes issued on the date hereof shall in any event constitute Initial Second Priority Debt.
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Related to Initial Second Priority Debt

  • Second Priority Debt means any Indebtedness of the Borrower or any other Grantor guaranteed by the Guarantors (and not guaranteed by any Subsidiary that is not a Guarantor), including the Initial Second Priority Debt, which Indebtedness and guarantees are secured by the Second Priority Collateral on a pari passu basis (but without regard to control of remedies, other than as provided by the terms of the applicable Second Priority Debt Documents) with any other Second Priority Debt Obligations and the applicable Second Priority Debt Documents which provide that such Indebtedness and guarantees are to be secured by such Second Priority Collateral on a subordinate basis to the Senior Debt Obligations (and which is not secured by Liens on any assets of the Borrower or any other Grantor other than the Second Priority Collateral or which are not included in the Senior Collateral); provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each Senior Debt Document and Second Priority Debt Document and (ii) except in the case of the Initial Second Priority Debt hereunder, the Representative for the holders of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying the conditions set forth in, Section 8.09 hereof. Second Priority Debt shall include any Registered Equivalent Notes and Guarantees thereof by the Guarantors issued in exchange therefor.

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any other series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest, fees or expenses which accrue after the commencement of any Insolvency or Liquidation Proceeding, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt and (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents.

  • Permitted Second Priority Refinancing Debt secured Indebtedness incurred by the Borrower in the form of one or more series of second lien secured notes or second lien secured loans; provided that (i) such Indebtedness is secured by the Collateral on a second lien, subordinated basis to the Obligations and is not secured by any property or assets of the Borrower or any of its Subsidiaries other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness in respect of Term Loans, (iii) such Indebtedness does not mature or have scheduled amortization or payments of principal prior to the date that is 91 days after the Latest Maturity Date at the time such Indebtedness is incurred, (iv) the security agreements relating to such Indebtedness are substantially the same as the Security Documents (with such differences as are reasonably satisfactory to the Administrative Agent; provided that such differences are not more favorable to the investors in such secured Indebtedness), (v) such Indebtedness is not also incurred by or guaranteed by any Subsidiaries of the Borrower other than the Subsidiary Guarantors and is not incurred by or guaranteed by any other Person, (vi) an agent or representative acting on behalf of the holders of such Indebtedness (a “Second Lien Agent”) shall have become party to an intercreditor agreement in form and substance satisfactory to the Administrative Agent (the “Second Lien Intercreditor Agreement”); provided that, if such Indebtedness is the initial Permitted Second Priority Refinancing Debt incurred by the Borrower, then the Borrower, the Subsidiary Guarantors, the Administrative Agent and the Second Lien Agent for such Indebtedness shall have executed and delivered the Second Lien Intercreditor Agreement, (vii) the other terms and conditions of such secured Indebtedness are on the whole substantially identical to, or less favorable to the investors providing such secured Indebtedness, than those applicable to the Refinanced Debt (except for (x) pricing, fees, rate floors and prepayment or redemption premiums, which shall reflect market terms and conditions at the time of incurrence or issuance, (y) covenants or other provisions applicable only to periods after the date that is 91 days after the Latest Maturity Date that is in effect on the date such Indebtedness is issued, incurred or obtained and (z) differences that reflect the nature of such secured debt as fixed or floating rate securities), and (viii) a Responsible Officer shall have certified compliance with the foregoing requirements and that the incurrence of such Indebtedness complies with Section 6.2.

  • Second Priority Debt Parties means the Initial Second Priority Debt Parties and, with respect to any series, issue or class of Second Priority Debt, the holders of such Indebtedness, the Representative with respect thereto, any trustee or agent therefor under any related Second Priority Debt Documents and the beneficiaries of each indemnification obligation undertaken by the Borrower or any other Grantor under any related Second Priority Debt Documents.

  • Second Priority Documents means each Second Priority Agreement, each Second Priority Security Document and each Second Priority Guarantee.