Common use of Collateral Sharing Clause in Contracts

Collateral Sharing. Upon at least thirty (30) days prior written ------------------ notice by Debtor to Bank of a request by a new lender to Debtor ("new lender") for a security interest in the Collateral, and provided that there has been no Event of Default hereunder and further provided that, in the reasonable opinion of Bank, Debtor has not experienced an adverse material change in its financial condition, Bank shall enter into an agreement, on terms and in form acceptable to Bank, with such new lender whereby Bank shall share with such new lender, in pari pasu, its security interest in the Collateral in excess of the amount of all Loans and any other amounts due Bank by Debtor.