“Performing First Lien Last Out Bank Loans” means First Lien Last Out Bank Loans which are Performing.

Lien of Texas Capital Bank, N.A. covering a 2017 Porsche 911 Carrera, VIN: [[VIN]]

“First Lien Loan” means any Loan that is recorded as a “first lien loan” on a Loan Party’s Books.

“First Lien Last Out Loan”: A Loan that would otherwise be a First Lien Loan except that at any time prior to and/or after an event of default under the related loan agreement of the related Obligor, any portion of such Loan will be repaid after one or more tranches of first lien loans issued by the same Obligor have been paid in full in accordance with a specific waterfall of payments; provided that the Administrative Agent may, in its sole discretion, designate an Eligible Loan that would otherwise constitute a First Lien Last Out Loan as a First Lien Loan.

First Lien Mortgage Loan: A Mortgage Loan secured by a Mortgage in first lien position on the related Mortgaged Property.

“Tier 1 Obligor”: # With respect to First Lien Loans, Obligors for which the Net Senior Leverage Ratio of the applicable Obligor with respect to such First Lien Loan is less than 4.50 to 1.00, and # with respect to First Lien Last Out Loans and Second Lien Loans, Obligors for which the Net Total Obligor Leverage Ratio of the applicable Obligor with respect to such First Lien Last Out Loan and Second Lien Loan is less than 5.25 to 1.00.

“Tier 2 Obligor”: # With respect to First Lien Loans, Obligors for which the Net Senior Leverage Ratio of the applicable Obligor with respect to such First Lien Loan is less than 5.50 to 1.00, and # with respect to First Lien Last Out Loans and Second Lien Loans, Obligors for which the Net Total Obligor Leverage Ratio of the applicable Obligor with respect to such First Lien Last Out Loan and Second Lien Loan is less than 6.25 to 1.00.

“Tier 3 Obligor”: # With respect to First Lien Loans, Obligors for which the Net Senior Leverage Ratio of the applicable Obligor with respect to such First Lien Loan is less than 6.50 to 1.00, and # with respect to First Lien Last Out Loans and Second Lien Loans, Obligors for which the Net Total Obligor Leverage Ratio of the applicable Obligor with respect to such First Lien Last Out Loan and Second Lien Loan is less than 7.25 to 1.00.

means the first arm’s length sale of the Licensed Product by or on behalf of INNOCOLL or its Affiliates or sublicensees to a Third Party in the Licensed Territory; for clarity excluding any pre-launch activities, including advertising, education, product-related public relations, health care economic studies, governmental affairs activities for reimbursement and formulary acceptance, sales force training, transfers for use in Development, compassionate use (including named-patient programs) or as samples or use in a clinical trial.

“First Tier GDP Overrun” has the meaning set forth in [Section 3.8.5].