Common use of Acknowledgement of Liens Clause in Contracts

Acknowledgement of Liens. The Noteholder Collateral Agent, for and on behalf of itself and the Noteholders, acknowledges and agrees that the Senior Agent, for the benefit of itself and the Senior Lenders, has been granted Liens upon all of the Collateral in which the Noteholder Collateral Agent has been granted Liens and the Noteholder Collateral Agent, for and on behalf of itself and the Noteholders, consents thereto. The Noteholder Collateral Agent, for and on behalf of itself and the Noteholders, agrees that neither it nor any Noteholder shall obtain a Lien on any Collateral to secure all or any portion of the Notes Obligations unless, concurrently therewith, the Senior Agent obtains a Lien on such Collateral and the parties hereby agree that all such Liens are and will be subject to this Agreement. The Senior Agent, for and on behalf of itself and the Senior Lenders, acknowledges and agrees that the Noteholder Collateral Agent has been granted Liens upon certain of the Collateral in which the Senior Agent has been granted Liens and the Senior Agent consents thereto. The subordination of Liens and claims in respect of Collateral by the Noteholder Collateral Agent and the Noteholders in favor of the Senior Agent and the Senior Lenders shall not be deemed to subordinate the Noteholder Collateral Agent’s or any Noteholder’s Liens or claims in respect of Collateral to the Liens or claims in respect of Collateral of any other Person that is not a holder of Senior Indebtedness.

Acknowledgement of Liens. The Noteholder Collateral Agent, for and on behalf of itself and the Noteholders, Each Subordinated Creditor acknowledges and agrees that the that, concurrently herewith, Senior Agent, for the benefit of itself and the Senior Lenders, Lender has been granted Liens upon all of the Collateral in which the Noteholder Collateral Agent any Subordinated Creditor has been granted Liens and the Noteholder Collateral Agent, for and on behalf of itself and the Noteholders, each Subordinated Creditor hereby consents thereto. The Noteholder Collateral Agent, for and on behalf of itself and the Noteholders, Each Subordinated Creditor agrees that neither it nor any Noteholder shall not obtain a Lien on any asset or Collateral to secure all or any portion of the Notes Obligations unless, Subordinated Indebtedness unless concurrently therewith, the Senior Agent Lender obtains a Lien on such asset or Collateral and the parties hereby agree that all such Liens are and will be subject to this Agreement. The Senior Agent, for and on behalf of itself and the Senior Lenders, Lender acknowledges and agrees that Subordinated Agent, on behalf of the Noteholder Collateral Agent Subordinated Lenders, has been granted Liens upon certain all of the Collateral in which the Senior Agent Lender has been granted Liens and Senior Lender hereby consents thereto. Senior Lender agrees that it shall not obtain a Lien on any asset or Collateral to secure all or any portion of the Senior Indebtedness unless, at or prior to such time, Subordinated Agent consents theretohas also been offered a Lien on such asset or Collateral. It is understood and agreed that all such future Liens shall be subject to the terms of this Agreement. The subordination of Liens and claims in respect of Collateral by the Noteholder Collateral Agent and the Noteholders Subordinated Creditors in favor of the Senior Agent and the Senior Lenders Lender shall not be deemed to subordinate the Noteholder Collateral Agent’s or any NoteholderSubordinated Creditor’s Liens or claims in respect of Collateral to the Liens or claims in respect of Collateral of any Person other Person that is not a holder of than Senior IndebtednessLender.

Acknowledgement of Liens. The Noteholder FRN Collateral Agent, for and on behalf of itself and the NoteholdersFRN Holders, acknowledges and agrees that the Senior 9% Notes Collateral Agent, for the benefit of itself and the Senior Lenders9% Note Holders, has been granted Liens upon all of the Collateral in which the Noteholder FRN Collateral Agent has been granted Liens and the Noteholder FRN Collateral Agent, for and on behalf of itself and the NoteholdersFRN Holders, consents thereto. The Noteholder 9% Notes Collateral Agent, for and on behalf of itself and the Noteholders9% Note Holders, acknowledges and agrees that the FRN Collateral Agent has been granted Liens upon all of the Collateral in which the 9% Notes Collateral Agent has been granted Liens and the 9% Notes Collateral Agent, for and on behalf of itself and the 9% Note Holders, consents thereto. Each of (i) the FRN Collateral Agent, for and on behalf of itself and the FRN Holders, agrees that neither it nor any Noteholder FRN Holder shall obtain a Lien on any Collateral to secure all or any portion of the Notes FRN Obligations unless, concurrently therewith, the Senior 9% Notes Collateral Agent obtains a Lien on such Collateral and (ii) the parties hereby agree that all such Liens are and will be subject to this Agreement. The Senior 9% Notes Collateral Agent, for and on behalf of itself and the Senior Lenders9% Note Holders, acknowledges and agrees that neither it nor any 9% Note Holder shall obtain a Lien on any Collateral to secure all or any portion of the Noteholder 9% Note Obligations unless, concurrently therewith, the FRN Collateral Agent has been granted Liens upon certain of the Collateral in which the Senior Agent has been granted Liens and the Senior Agent consents theretoobtains a Lien on such Collateral. The subordination of parties hereby further agree that any and all such Liens are and claims will be pari passu in respect of Collateral by the Noteholder Collateral Agent priority and the Noteholders in favor of the Senior Agent and the Senior Lenders shall not be deemed otherwise subject to subordinate the Noteholder Collateral Agent’s or any Noteholder’s Liens or claims in respect of Collateral to the Liens or claims in respect of Collateral of any other Person that is not a holder of Senior Indebtednessthis Agreement.