Common use of Collateral Shared Equally and Ratably Clause in Contracts

Collateral Shared Equally and Ratably. The parties to this Agreement agree that the payment and satisfaction of all of the Parity Lien Obligations will be secured equally and ratably by the Parity Lien established in favor of the Collateral Trustee for the benefit of the Parity Lien Secured Parties, notwithstanding the time of incurrence of any Parity Lien Obligations or time or method of creation or perfection of any Parity Liens securing such Parity Lien Obligations, and notwithstanding any provision of the UCC or any other applicable law or any defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens securing the Parity Lien Obligations or any other circumstance whatsoever, whether or not any Insolvency or Liquidation Proceeding has been commenced against the Company or any other Grantor, it is the intent of the parties that all Parity Lien Obligations will be and are secured equally and ratably by all Parity Liens at any time granted by the Company or any other Grantor to secure any Parity Lien Obligations, whether or not upon property otherwise constituting collateral for such Parity Lien Obligations, and that all such Parity Liens will be enforceable by the Collateral Trustee for the benefit of all Parity Lien Secured Parties equally and ratably.

Collateral Shared Equally and Ratably. The parties to this Agreement agree that the payment and satisfaction of all of the Parity Priority Lien Obligations will be secured equally and ratably by the Parity Priority Lien established in favor of the Collateral Trustee for the benefit of the Parity Priority Lien Secured PartiesParties and the Collateral Trustee, notwithstanding the time of incurrence of any Parity Priority Lien Obligations or time or method of creation or perfection of any Parity Priority Liens securing such Parity Priority Lien Obligations, Obligations and notwithstanding any provision of the UCC or any other applicable law or any defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens securing the Parity Priority Lien Obligations or any other circumstance whatsoever, whether or not any Insolvency or Liquidation Proceeding has been commenced against the Company or any other Grantor, it is the intent of the parties that all Parity Priority Lien Obligations will be and are secured equally and ratably by all Parity Priority Liens at any time granted by the Company or any other Grantor to secure any Parity Lien Obligations, whether or not upon property otherwise constituting collateral for such Parity Priority Lien Obligations, and that all such Parity Priority Liens will be enforceable by the Collateral Trustee for the benefit of all Parity Priority Lien Secured Parties and the Collateral Trustee equally and ratably; provided, however, that the Priority Lien Obligations shall be subject to the prior payment rights of the Collateral Trustee for the Collateral Trustee’s Fees and Expenses and the holders of the First-Out Obligations and certain other Priority Lien Obligations as provided in Section 3.4 and the requirements of Section 1.3.

Collateral Shared Equally and Ratably. (a) The parties to this Agreement agree that the payment and satisfaction of all of the Parity Priority Lien Obligations will be secured equally and ratably by the Parity Priority Lien established in favor of the Collateral Trustee Agent for the benefit of the Parity Priority Lien Secured Parties, notwithstanding the time of incurrence of any Parity Priority Lien Obligations or time or method of creation or perfection of any Parity Priority Liens securing such Parity Priority Lien Obligations, Obligations and notwithstanding any provision of the UCC or any other applicable law or any defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens securing the Parity Priority Lien Obligations or any other circumstance whatsoever, whether or not any Insolvency or Liquidation Proceeding has been commenced against the Company or any other Grantor, it is being the intent of the parties that all Parity Priority Lien Obligations will be and are secured equally and ratably by all Parity Priority Liens at any time granted by the Company or any other Grantor to secure any Parity Priority Lien Obligations, whether or not upon property otherwise constituting collateral for such Parity Priority Lien Obligations, and that all such Parity Priority Liens will be enforceable by the Collateral Trustee Agent for the benefit of all Parity Priority Lien Secured Parties equally and ratably.

Collateral Shared Equally and Ratably. The parties to this Agreement agree that the payment and satisfaction of all of the Parity First Lien Obligations will be secured equally and ratably by the Parity First Lien established in favor of the Collateral Trustee Agent for the benefit of the Parity Lien Secured Parties, notwithstanding the time of incurrence of any Parity First Lien Obligations (including any First Lien Obligations arising from guarantees) or time or method of creation or perfection of any Parity First Liens securing such Parity First Lien Obligations, Obligations and notwithstanding any provision of the UCC or any other applicable law or any defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens securing the Parity First Lien Obligations or any other circumstance whatsoever, whether or not any Insolvency or Liquidation Proceeding has been commenced against the Company or any other Grantor, it . It is the intent of the parties hereto that all Parity First Lien Obligations will be and are secured equally and ratably by all Parity First Liens at any time granted by the Company or any other Grantor to secure any Parity First Lien Obligations, whether or not upon property otherwise constituting collateral for such Parity First Lien Obligations, and that all such Parity First Liens will be enforceable by the Collateral Trustee Agent for the benefit of all Parity Lien Secured Parties equally and ratably.

Collateral Shared Equally and Ratably. The parties to this Agreement agree that the payment and satisfaction of all of the Parity Priority Lien Obligations will be secured equally and ratably by the Parity Priority Lien established in favor of the Collateral Trustee for the benefit of the Parity Priority Lien Secured PartiesParties and the Collateral Trustee, notwithstanding the time of incurrence of any Parity Priority Lien Obligations or time or method of creation or perfection of any Parity Priority Liens securing such Parity Priority Lien Obligations, Obligations and notwithstanding any provision of the UCC or any other applicable law or any defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens securing the Parity Priority Lien Obligations or any other circumstance whatsoever, whether or not any Insolvency or Liquidation Proceeding has been commenced against the Company or any other Grantor, it is the intent of the parties that all Parity Priority Lien Obligations will be and are secured equally and ratably by all Parity Priority Liens at any time granted by the Company or any other Grantor to secure any Parity Lien Obligations, whether or not upon property otherwise constituting collateral for such Parity Priority Lien Obligations, and that all such Parity Priority Liens will be enforceable by the Collateral Trustee for the benefit of all Parity Lien Secured Parties equally and ratably.of

Collateral Shared Equally and Ratably. The parties to this Agreement agree that the payment and satisfaction of all of the Parity Lien Obligations will be secured equally and ratably by the Parity Lien established in favor of the Collateral Trustee for the benefit of the Parity Lien Secured Parties, notwithstanding the time of incurrence of any Parity Lien Obligations or time or method of creation or perfection of any Parity Liens securing such Parity Lien Obligations, Obligations and notwithstanding any provision of the UCC or any other applicable law or any defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens securing the Parity Lien Obligations or any other circumstance whatsoever, whether or not any Insolvency or Liquidation Proceeding has been commenced against the Company or any other Grantor, it is the intent of the parties that all Parity Lien Obligations will be and are secured equally and ratably by all Parity Liens at any time granted by the Company or any other Grantor to secure any Parity Lien Obligations, whether or not upon property otherwise constituting collateral for such Parity Lien Obligations, and that all such Parity Liens will be enforceable by the Collateral Trustee for the benefit of all Parity Lien Secured Parties equally and ratably.

Collateral Shared Equally and Ratably. The parties to this Agreement agree that the payment and satisfaction of all of the Parity Lien Obligations will be secured equally and ratably by the Parity Lien established in favor of the Collateral Trustee for the benefit of the Parity Lien Secured Parties, notwithstanding the time of incurrence of any Parity Lien Obligations or time or method of creation or perfection of any Parity Liens securing such Parity Lien Obligations, Obligations and notwithstanding any provision of the UCC or any other applicable law or any defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens securing the Parity Lien Obligations or any other circumstance whatsoever, whether or not any Insolvency or Liquidation Proceeding has been commenced against the Company or any other Grantor, it is the intent of the parties that all Parity Lien Obligations will be and are secured equally and ratably by all Parity Liens at any time granted by the Company or any other Grantor to secure any Parity Lien Obligations, whether or not upon property otherwise constituting collateral for such Parity Lien Obligations, and Obligations that all such Parity Liens will be enforceable by the Collateral Trustee for the benefit of all Parity Lien Secured Parties equally and ratably.