Lien Priorities. (a) The grant of the First-Out Liens pursuant to the First-Out Documents and the grant of the Second-Out Liens pursuant to the Second-Out Documents create two separate and distinct Liens on the Shared Collateral.
Appears in 5 contracts
Samples: Passu Intercreditor Agreement (California Resources Corp), Credit Agreement (California Resources Corp), Passu Intercreditor Agreement (California Resources Corp)