Abl First Lien Collateral Sample Clauses


ABL FIRST LIEN COLLATERAL. Notwithstanding anything herein to the contrary, prior to the Discharge of ABL Obligations (as defined in the Intercreditor Agreement), the requirements of this Agreement to deliver or grant control over ABL First Lien Collateral to the Collateral Agent shall be deemed satisfied by delivery of or granting control over such ABL First Lien Collateral to the ABL Agent as bailee for the Collateral Agent pursuant to the IntercreditorAgreement. Prior to the Discharge of ABL Obligations, each Grantor agrees that, in the event any Grantor, pursuant to the ABL Collateral Documents (as defined in the Intercreditor Agreement), takes any action to grant or perfect a Lien in favor of the ABL Agent in any assets (other than ABL Exclusive Real Property (as defined in the Intercreditor Agreement)), such Grantor shall also take such action, subject to the cooperation of the Collateral Agent, to grant or perfect a Lien (subject to the Intercreditor Agreement) in favor of Collateral Agent to secure the Notes Obligations without request of the Collateral Agent. The parties hereto acknowledge and agree that pursuant to the ABL Credit Agreement, the Grantors may from time to time seek Landlord/Warehousemen Agreements. To the extent any such Landlord/Warehousemen Agreements is being sought in favor of the ABL Agent, the applicable Grantor shall, subject to the cooperation of the Collateral Agent, use commercially reasonable efforts to cause a substantially identical agreement to be executed in favor of the Collateral Agent;