Common use of Equitable Lien Clause in Contracts

Equitable Lien. If any Credit Party or any of its Restricted Subsidiaries shall incur, create or assume, directly or indirectly, any Lien upon any of its properties or assets (a) of a kind or nature comparable to the Secured Term Loan Priority Collateral, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Revolving Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness (other than the Secured Term Loans or any Additional Secured Term Loans or Refinancing Secured Term Loans which shall retain a First Priority Lien on such properties or assets) secured thereby as long as any such Indebtedness shall be so secured and (b) of a kind or nature comparable to the Revolving Priority Collateral, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Revolving Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness (other than the Secured Term Loans, any Additional Secured Term Loans or the Refinancing Secured Term Loans which shall retain a Second Priority Lien on such properties or assets) secured thereby as long as any such Indebtedness shall be so secured; provided, notwithstanding the foregoing, this covenant shall not be construed as a consent by the Requisite Lenders to the creation or assumption of any such Lien not otherwise permitted hereby.

Equitable Lien. If any Credit Party or any of its Restricted Subsidiaries shall incur, create or assume, directly or indirectly, any Lien upon any of its properties or assets (a) of a kind or nature comparable to the Secured Term Loan Notes Priority Collateral, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Revolving Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness (other than the Secured Term Loans Notes or any Additional Secured Term Loans Notes or Refinancing Secured Term Loans Notes which shall retain a First Priority Lien on such properties or assets) secured thereby as long as any such Indebtedness shall be so secured and (b) of a kind or nature comparable to the Revolving Priority Collateral, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Revolving Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness (other than the Secured Term LoansNotes, any Additional Secured Term Loans Notes or the Refinancing Secured Term Loans Notes which shall retain a Second Priority Lien on such properties or assets) secured thereby as long as any such Indebtedness shall be so secured; provided, notwithstanding the foregoing, this covenant shall not be construed as a consent by the Requisite Lenders to the creation or assumption of any such Lien not otherwise permitted hereby.

Equitable Lien. If any Credit Party or any of its Restricted Subsidiaries shall incur, create or assume, directly or indirectly, any Lien upon any of its properties or assets (a) of a kind or nature comparable to the Secured Term Loan ABL Priority Collateral, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Revolving Term Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness (other than the Secured Term Loans or any Additional Secured Term Loans or Refinancing Secured Term ABL Loans which shall retain a First Priority Lien on such properties or assets) secured thereby as long as any such Indebtedness shall be so secured and (b) of a kind or nature comparable to the Revolving Term Priority Collateral, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Revolving Term Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness (other than the Secured Term ABL Loans, any Additional Secured Term Loans or the Refinancing Secured Term Loans which shall retain a Second Priority Lien on such properties or assets) secured thereby as long as any such Indebtedness shall be so secured; provided, notwithstanding the foregoing, this covenant shall not be construed as a consent by the Requisite Lenders to the creation or assumption of any such Lien not otherwise permitted hereby.

Equitable Lien. If any Credit Party or any of its Restricted Subsidiaries shall incur, create or assume, directly or indirectly, assume any Lien upon any of its properties or assets (a) of a kind or nature comparable to the Secured Term Loan Priority Liquid Collateral, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Revolving Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness (other than the Secured Term Loans or Obligations) secured thereby as long as any Additional Secured such Indebtedness shall be so secured and the Term Loans or Refinancing Secured Term Loans which shall retain Obligations will (x) so long as the Revolving Obligations are so secured, have a First Second Priority Lien on such properties or assetsassets and (y) if the Revolving Obligations have been discharged, be secured by such Lien equally and ratably with any and all other Indebtedness secured thereby as long as any such Indebtedness shall be so secured and (b) of a kind or nature comparable to the Revolving Priority Fixed Collateral, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Revolving Term Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness (other than the Secured Term Loans, any Additional Secured Term Loans or the Refinancing Secured Term Loans which shall retain a Second Priority Lien on such properties or assetsRevolving Obligations) secured thereby as long as any such Indebtedness shall be so secured; provided, notwithstanding the foregoing, this covenant shall not be construed as a consent by the Requisite Lenders to the creation or assumption of any such Lien not otherwise permitted hereby.

Equitable Lien. If any Credit Party or any of its Restricted Subsidiaries shall incur, create or assume, directly or indirectly, assume any Lien upon any of its properties or assets (a) of a kind or nature comparable to the Secured Term Loan Priority Fixed Collateral, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Term Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness (other than the Revolving Obligations) secured thereby as long as any such Indebtedness shall be so secured and the Revolving Obligations will (x) so long as the Term Obligations are so secured, have a Second Priority Lien on such properties or assets and (y) if the Term Obligations have been discharged, be secured by such Lien equally and ratably with any and all other Indebtedness secured thereby as long as any such Indebtedness shall be so secured and (b) of a kind or nature comparable to the Liquid Collateral, whether now owned or hereafter acquired, it shall make or cause to be made effective provisions whereby the Revolving Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness (other than the Secured Term Loans or any Additional Secured Term Loans or Refinancing Secured Term Loans which shall retain a First Priority Lien on such properties or assets) secured thereby as long as any such Indebtedness shall be so secured and (b) of a kind or nature comparable to the Revolving Priority Collateral, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Revolving Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness (other than the Secured Term Loans, any Additional Secured Term Loans or the Refinancing Secured Term Loans which shall retain a Second Priority Lien on such properties or assetsObligations) secured thereby as long as any such Indebtedness shall be so secured; provided, notwithstanding the foregoing, this covenant shall not be construed as a consent by the Requisite Lenders to the creation or assumption of any such Lien not otherwise permitted hereby.