Common use of Impairment of Collateral Clause in Contracts

Impairment of Collateral. Subject to the rights of the holders of any senior Liens and Section 14.07, the Issuer shall not, and shall not permit Intermediate Holdings or any of the Restricted Subsidiaries to, take or knowingly or negligently omit to take, any action which action or omission would or could reasonably be expected to have the result of materially impairing the security interest with respect to the Collateral for the benefit of the Trustee and the Holders, unless such action or failure to take action is otherwise permitted by this Indenture, the Intercreditor Agreements or the Collateral Documents.

Impairment of Collateral. Subject to the rights of the holders of any senior Liens and Section 14.0711.07, the Issuer Company shall not, and shall not permit Intermediate Holdings or any of the Restricted Subsidiaries to, take or knowingly or negligently omit to take, any action which action or omission would or could reasonably be expected to have the result of materially impairing the security interest with respect to the Collateral for the benefit of the Trustee Trustee, the Notes Collateral Agent and the Holders, unless such action or failure to take action is otherwise permitted by this Indenture, the Intercreditor Agreements or the Collateral Documents.

Impairment of Collateral. Subject to the rights of the holders of any senior Liens and Section 14.07, the Issuer Issuers and Intermediate Holdings shall not, and shall not permit Intermediate Holdings or any of the Restricted Subsidiaries to, take or knowingly or negligently omit to take, any action which action or omission would or could reasonably be expected to have the result of materially impairing the security interest with respect to the Collateral for the benefit of the Trustee Trustee, the Collateral Agent and the Holders, unless such action or failure to take action is otherwise permitted by this Indenture, the Intercreditor Agreements Agreement or the Collateral Documents.

Impairment of Collateral. Subject to the rights of the holders of any senior Liens and Section 14.07, the Issuer and Intermediate Holdings shall not, and shall not permit Intermediate Holdings or any of the Restricted Subsidiaries to, take or knowingly or negligently omit to take, any action which action or omission would or could reasonably be expected to have the result of materially impairing the security interest with respect to the Collateral for the benefit of the Trustee Trustee, the Collateral Agent and the Holders, unless such action or failure to take action is otherwise permitted by this Indenture, the Intercreditor Agreements Agreement or the Collateral Documents.