Common use of Equitable Lien in Favor of Lenders Clause in Contracts

Equitable Lien in Favor of Lenders. If any Borrowers or any of its Subsidiaries shall create or assume any Lien upon any of its properties or assets, whether now owned or hereafter acquired, other than Liens excepted by the provisions of subsection 6.2A and Liens created or assumed on properties or assets on which First Priority Liens created under the Collateral Documents are attached and perfected at the time of such creation or assumption, the Borrowers hereby agree that (i) they will be deemed to have automatically and without further action secured the Obligations with such Lien equally and ratably with any and all other Indebtedness, Contingent Obligations or any other obligations or debt (as defined in the Bankruptcy Code) secured thereby, and (ii) they shall take or cause to be taken such actions as Administrative Agent or Requisite Lenders deem necessary or advisable to evidence such equal and ratable Lien; provided that, notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not permitted by the provisions of subsection 6.2A, and the creation or assumption of any such Lien not permitted by the provisions of subsection 6.2A shall constitute an Event of Default.

Equitable Lien in Favor of Lenders. If any Borrowers or any of its Subsidiaries shall create or assume any Lien upon any of its properties or assets, whether now owned or hereafter acquired, other than Liens excepted by the provisions of subsection 6.2A and Liens created or assumed on properties or assets on which First Priority Liens created under the Collateral Documents are attached and perfected at the time of such creation or assumption, the Borrowers hereby agree that (i) they will be deemed to have automatically and without further action secured the Obligations with such Lien equally and ratably with any and all other Indebtedness, Contingent Obligations or any other obligations or debt (as defined in the Bankruptcy Code) secured thereby, and (ii) they shall take or cause to be taken such actions as Administrative Agent Agents or Requisite Lenders deem necessary or advisable to evidence such equal and ratable Lien; provided that, notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not permitted by the provisions of subsection 6.2A, and the creation or assumption of any such Lien not permitted by the provisions of subsection 6.2A shall constitute an Event of Default.

Equitable Lien in Favor of Lenders. If any Borrowers or any of its Subsidiaries shall create or assume any Lien upon any of its properties or assets, whether now owned or hereafter acquired, other than Liens excepted by the provisions of subsection 6.2A 7.2A and Liens created or assumed on properties or assets on which First Priority Liens created under the Collateral Documents are attached and perfected at the time of such creation or assumption, the Borrowers hereby agree that (i) they will be deemed to have automatically and without further action secured the Obligations with such Lien equally and ratably with any and all other Indebtedness, Contingent Obligations or any other obligations or debt (as defined in the Bankruptcy Code) secured thereby, and (ii) they shall take or cause to be taken such actions as Administrative Agent or Requisite Lenders deem necessary or advisable to evidence such equal and ratable Lien; provided thatprovided, that notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not permitted by the provisions of subsection 6.2A7.2A, and the creation or assumption of any such Lien not permitted by the provisions of subsection 6.2A 7.2A shall constitute an Event of Default.

Equitable Lien in Favor of Lenders. If any Borrowers or any of its Subsidiaries shall create or assume any Lien upon any of its properties or assets, whether now owned or hereafter acquired, other than Liens excepted by the provisions of subsection 6.2A 7.2A and Liens created or assumed on properties or assets on which First Priority Liens created under the Collateral Documents are attached and perfected at the time of such creation or assumption, the Borrowers hereby agree that (i) they will be deemed to have automatically and without further action secured the Obligations with such Lien equally and ratably with any and all other Indebtedness, Contingent Obligations or any other obligations or debt (as defined in the Bankruptcy Code) secured thereby, and (ii) they shall take or cause to be taken such actions as Administrative Agent Agents or Requisite Lenders deem necessary or advisable to evidence such equal and ratable Lien; provided that, notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not permitted by the provisions of subsection 6.2A7.2A, and the creation or assumption of any such Lien not permitted by the provisions of subsection 6.2A 7.2A shall constitute an Event of Default.

Equitable Lien in Favor of Lenders. If any Borrowers Holdings or any of its Subsidiaries shall create or assume any Lien upon any of its properties or assets, whether now owned or hereafter acquired, other than Liens excepted by the provisions of subsection 6.2A and Liens created 7.2A, Borrower shall make or assumed on properties or assets on which First Priority Liens created under cause to be made effective provision whereby the Collateral Documents are attached and perfected at the time of such creation or assumption, the Borrowers hereby agree that (i) they Obligations will be deemed to have automatically and without further action secured the Obligations with by such Lien equally and ratably with any and all other Indebtedness, Contingent Obligations or Indebtedness secured thereby as long as any other obligations or debt (as defined in the Bankruptcy Code) secured thereby, and (ii) they such Indebtedness shall take or cause to be taken such actions as Administrative Agent or Requisite Lenders deem necessary or advisable to evidence such equal and ratable Lienso secured; provided that, notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not permitted by the provisions of subsection 6.2A7.2A; and provided further that notwithstanding the foregoing, and the creation if Holdings or assumption any of its Subsidiaries shall create or assume any Lien in favor of any Indebtedness permitted pursuant to subsection 7.1(v), it shall make or cause to be made effective provision whereby the Obligations will be secured by such Lien not permitted by the provisions of subsection 6.2A equally and ratably with any and all other Indebtedness secured thereby as long as any such Indebtedness shall constitute an Event of Defaultbe so secured.

Equitable Lien in Favor of Lenders. If any Borrowers Borrower or any of its Subsidiaries shall create or assume any Lien upon any of its properties or assets, whether now owned or hereafter acquired, other than Liens excepted by the provisions of subsection 6.2A and Liens created 7.2A, it shall make or assumed on properties or assets on which First Priority Liens created under cause to be made effective provision whereby the Collateral Documents are attached and perfected at the time of such creation or assumption, the Borrowers hereby agree that (i) they Obligations will be deemed to have automatically and without further action secured the Obligations with by such Lien equally and ratably with any and all other Indebtedness, Contingent Obligations or Indebtedness secured thereby as long as any other obligations or debt (as defined in the Bankruptcy Code) secured thereby, and (ii) they such Indebtedness shall take or cause to be taken such actions as Administrative Agent or Requisite Lenders deem necessary or advisable to evidence such equal and ratable Lienso secured; provided PROVIDED that, notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not permitted by the provisions of subsection 6.2A7.2A; and PROVIDED FURTHER that notwithstanding the foregoing, and the creation if any Borrower or assumption any of its Subsidiaries shall create or assume any Lien in favor of any Indebtedness permitted pursuant to subsection 7.1(v), it shall make or cause to be made effective provision whereby the Obligations will be secured by such Lien not permitted by the provisions of subsection 6.2A equally and ratably with any and all other Indebtedness secured thereby as long as any such Indebtedness shall constitute an Event of Defaultbe so secured.