Common use of Continuing Nature of this Agreement; Severability Clause in Contracts

Continuing Nature of this Agreement; Severability. This Agreement shall continue to be effective until the Discharge of Senior-Priority Debt shall have occurred or the final payment in full in cash of the Pari Passu Lien Debt and the termination and release by each Pari Passu Lien Claimholder of any Liens to secure the Pari Passu Lien Debt. This is a continuing agreement of lien subordination and the First Lien Debt Claimholders may continue, at any time and without notice to any Collateral Trustee or any other Pari Passu Lien Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting First Lien Debt in reliance hereon. Each Collateral Trustee, for itself and on behalf of the Pari Passu Lien Representatives and the Pari Passu Lien Claimholders with respect to which such Collateral Trustee is acting as Agent, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

Continuing Nature of this Agreement; Severability. This Agreement shall continue to be effective until the Discharge of SeniorFirst-Priority Debt Lien Obligations shall have occurred or the final payment in full in cash of the Pari Passu Lien Debt and the termination and release by each Pari Passu Lien Claimholder of any Liens to secure the Pari Passu Lien Debtoccurred. This is a continuing agreement of lien subordination and the First Lien Debt Claimholders Senior Creditors may continue, at any time and without notice to any the Collateral Trustee Agent or any other Pari Passu Lien ClaimholderJunior Creditor, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting First Lien Debt in Senior Creditor Claims on reliance hereonhereof. Each The Collateral TrusteeAgent, for itself and on behalf of the Pari Passu Lien Representatives and the Pari Passu Lien Claimholders with respect to which such Collateral Trustee is acting as AgentJunior Creditors, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. The relative rights of Senior Creditors and Junior Creditor to repayment of the Senior Creditor Claims and the Junior Creditor Claims, respectively, and in or to any distributions from or in respect of any Grantor or any Collateral or proceeds of Collateral, shall continue after the filing thereof on the same basis as prior to the date of the petition, subject to any court order approving the financing of, or use of cash collateral by, such Grantor as debtor in possession. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

Continuing Nature of this Agreement; Severability. This Agreement shall continue to be effective until the Discharge of Senior-Priority Debt INMETCO Facility Claims or the Discharge of Indenture Obligations shall have occurred or the final payment in full in cash of the Pari Passu Lien Debt and the termination and release by each Pari Passu Lien Claimholder of any Liens to secure the Pari Passu Lien Debtoccurred. This is a continuing agreement of lien subordination and (a) the First Lien Debt Claimholders INMETCO Facility Lenders may continue, at any time and without notice to any the Collateral Agent, the Trustee or any other Pari Passu Lien ClaimholderIndenture Holder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor constituting First Lien Debt in INMETCO Facility Claims on reliance hereonhereof and (b) the Indenture Holders may continue, at any time and without notice to the INMETCO Agent or any INMETCO Facility Lender, to extend credit and other financial accommodations to or for the benefit of the Issuer or any other Grantor constituting Indenture Obligations (including by means of purchasing any Notes issued by the Issuer) on reliance hereof. Each of the Collateral TrusteeAgent, for itself and on behalf of itself, the Pari Passu Lien Representatives Trustee and the Pari Passu Lien Claimholders with respect to which such Collateral Trustee is acting as other Indenture Holders, and the INMETCO Agent, on behalf of itself and the INMETCO Facility Lenders, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

Continuing Nature of this Agreement; Severability. This Subject to Section 6.4, this Agreement shall continue to be effective until the Discharge of Senior-First Priority Debt Claims shall have occurred or such later time as all the final payment Obligations in full in cash respect of the Pari Passu Subordinated Lien Debt and the termination and release by each Pari Passu Lien Claimholder of any Liens to secure the Pari Passu Lien DebtClaims shall have been paid in full. This is a continuing agreement of lien subordination and the First Priority Lien Debt Claimholders Holders may continue, at any time and without notice to any Collateral Trustee each Subordinated Lien Debt Representative or any other Pari Passu Subordinated Lien ClaimholderSecured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor constituting First Lien Debt Priority Claims in reliance hereon. Each Collateral Trustee, for itself and on behalf of the Pari Passu Lien Representatives and the Pari Passu Lien Claimholders with respect to which such Collateral Trustee is acting as Agent, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding and all converted or succeeding cases in respect thereof. The parties’ relative rights in or to any Distributions from or in respect of any Common Collateral or proceeds of Common Collateral, shall continue after the commencement of any Insolvency or Liquidation Proceeding. Accordingly, the provisions of this Agreement are intended to be and shall be enforceable as a “subordination agreement” within the meaning of Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.