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 First Lien Debt shall have occurred or the final payment in full in cash of the Second Lien Debt and the termination and release by each Second Lien Secured Party of any Liens to secure the Second Lien Debt. This is a continuing agreement of lien subordination and the First Lien Secured Parties may continue, at any time and without notice to any Second Lien Agent or any other Second Lien Secured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting First Lien Debt in reliance hereof. Each Second Lien Agent, for itself and on behalf of the Second Lien Secured Parties, 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 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.

Appears in 1 contract

Samples: Intercreditor Agreement (Amh Holdings, LLC)

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Continuing Nature of this Agreement; Severability. This Agreement shall continue to be effective until the first to occur of (a) the Discharge of First Lien ABL Debt shall have occurred or (b) the final payment in full in cash Discharge of the Second Lien Debt and the termination and release by each Second Lien Secured Party of any Liens to secure the Second Lien Term Loan Debt. This is a continuing agreement of lien subordination and the First Lien Secured Parties may continue, at any time and without notice to any Second Lien Agent or any the other Second Lien Secured PartyParties, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting First Lien ABL Debt and/or Term Loan Debt (as applicable) in reliance hereof. Each Second Lien of Term Loan Agent, for itself and on behalf of the Second Lien Term Loan Secured Parties, and ABL Agent, for itself and on behalf of the ABL Secured Parties, 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 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.

Appears in 1 contract

Samples: Intercreditor Agreement (Rivian Automotive, Inc. / DE)

Continuing Nature of this Agreement; Severability. This Agreement shall continue to be effective until the first to occur of the Discharge of First Lien Debt shall have occurred or the final payment in full in cash of the Second Lien Revolving Loan Debt and the termination and release by each Second Lien Secured Party Discharge of any Liens to secure the Second Lien Term Loan Debt. This is a continuing agreement of lien subordination and the First Lien Secured Parties may continue, at any time and without notice to any Second Lien Agent or any the other Second Lien Secured PartyParties, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting First Lien Revolving Loan Debt and/or any U.S, Grantor constituting Term Loan Debt (as applicable) in reliance hereof. Each Second Lien of Term Loan Agent, for itself and on behalf of the Second Lien Term Loan Secured Parties, and Revolving Loan Agent, for itself and on behalf of the Revolving Loan Secured Parties, 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 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.

Appears in 1 contract

Samples: Intercreditor Agreement (Hydrofarm Holdings Group, Inc.)

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Continuing Nature of this Agreement; Severability. This Agreement shall continue to be effective until the first to occur of the Discharge of First Lien Debt shall have occurred or the final payment in full in cash of the Second Lien Revolving Loan Debt and the termination and release by each Second Lien Secured Party Discharge of any Liens to secure the Second Lien Merger Loan Debt. This is a continuing agreement of lien subordination and the First Lien Secured Parties may continue, at any time and without notice to any Second Lien Agent or any the other Second Lien Secured PartyParties, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting First Lien Revolving Loan Debt and/or Merger Loan Debt (as applicable) in reliance hereof, in each case in accordance with this Agreement. Each Second Lien of Merger Loan Agent, for itself and on behalf of the Second Lien Merger Loan Secured Parties, and Revolving Loan Lender, 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 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.

Appears in 1 contract

Samples: Intercreditor Agreement (Interpace Diagnostics Group, Inc.)

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