Priority Event

Priority Event. The occurrence of any one or more of the following: (i) the occurrence and continuance of an Event of Default under Section 10.1(a)(i) of the Loan Agreement with respect to any Borrower's failure to pay any of the Obligations arising pursuant to the Revolving Loans (including principal, interest, fees and expenses attributable thereto); (ii) the occurrence and continuance of an Event of Default under Sections 10.1(e), 10.1(f) or 10.1(g) of the Loan Agreement; (iii) the occurrence of any other... Event of Default and the acceleration by Agent of the payment of all or a material portion of the Obligations; or (iv) Agent shall have received the written notice from Term B Loan Lender of a Term B Loan Action Default as provided in Section 10.2(i) of the Loan Agreement. View More

Priority Event. Shall mean (A) the occurrence of any Liquidation or (B) the occurrence of any Borrowing Base Default, Second Supplemental Loan Payment Default or General Default and the acceleration by the Lender of all the Obligations as a result of any such defaults by demanding payment therefor and taking any Enforcement Action.