Common use of Liens Subordinate Clause in Contracts

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan Party’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan Party’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any Guarantor or Lender presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstanding, no Guarantor shall (a) exercise or enforce any creditor’s right it may have against any Loan Party, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of any Loan Party held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges charges, or other encumbrances upon any Loan PartyBorrower’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges charges, or other encumbrances upon such Loan PartyBorrower’s assets securing payment of the Guaranteed ObligationsDebt, regardless of whether such encumbrances in favor of any such Guarantor or Lender the Credit Parties presently exist or are hereafter created or attachattached. Without the prior written consent of Lender as long as the Debt is outstandingAdministrative Agent, no Guarantor shall (a) exercise or enforce any creditor’s right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester sequester, or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief relief, or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments judgments, or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, ----------------- security interests, judgment liens, charges or other encumbrances upon any Loan Party’s Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan Party’s Borrower's assets securing payment of the Guaranteed ObligationsLiabilities, regardless of whether such encumbrances in favor of any Guarantor Guarantor, the Administrative Agent or Lender the Lenders presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingLenders, no Guarantor shall not (a) exercise or enforce any creditor’s 's right it may have against any Loan Partythe Borrower, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings proceeding (judicial or otherwise, including, including without limitation, limitation the commencement of, of or joinder in, in any liquidation, bankruptcy, rearrangement, debtor’s 's relief or insolvency proceeding) to enforce any lienslien, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan PartyBorrower’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan PartyBorrower’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any Guarantor or Lender presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingLender, no Guarantor shall not, prior to the payment in full of the Loan (a) exercise or enforce any creditor’s right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, including without limitation, limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan PartyBorrower’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan PartyBorrower’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any Guarantor or Lender Administrative Agent presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingAdministrative Agent, no Guarantor shall not (ai) exercise or enforce any creditor’s right it may have against Borrower or any other Loan Party, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, including without limitation, limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of Borrower or any other Loan Party held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan Party’s assets securing payment of the any Guarantor Claims Claim shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan Party’s assets securing payment of the Guaranteed ObligationsObligation, regardless of whether such encumbrances in favor of any such Guarantor or Lender presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstanding, no Guarantor shall (a) exercise or enforce any creditor’s right it may have against any Loan Party, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of any Loan Party held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan PartyBorrower’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan PartyBorrower’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any Guarantor or Lender presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingLender, no Guarantor shall not (ai) exercise or enforce any creditor’s right it may have against Borrower, Operating Lessee or any other Loan Party, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, including without limitation, limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of Borrower, Operating Lessee or any other Loan Party held by any Guarantor.

Liens Subordinate. Each Guarantor of the Guarantors agrees that that, until the Obligations are paid in full, any liens, security interests, judgment liens, charges or other encumbrances Liens upon any Loan Partythe Borrower’s assets securing payment of the any Guarantor Claims owing to such Guarantor shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances Liens upon such Loan Partythe Borrower’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any such Guarantor or Lender the Agent presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is Agent, no Guarantor, during the period in which any of the Obligations are outstanding, no Guarantor shall (a) exercise or enforce any creditor’s right it may might have against any Loan Partythe Borrower, or (b) foreclose, repossess, sequester sequester, or otherwise take steps or institute any action or proceedings proceeding (judicial or otherwise, including, including without limitation, limitation the commencement of, or joinder in, of any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any lienslien, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments or other encumbrances on assets of any Loan Party the Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan PartyXxxxxxxx’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment GUARANTY – Page 11 liens, charges or other encumbrances upon such Loan PartyXxxxxxxx’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any Guarantor or Lender presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingXxxxxx, no Guarantor shall not (ai) exercise or enforce any creditor’s right it may have against any Loan PartyBorrower, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, including without limitation, limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan PartyBorrower’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan PartyBorrower’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any Guarantor or Lender presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as until the Debt is outstandingLoan shall have been satisfied in full, no Guarantor shall not (a) exercise or enforce any creditor’s right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, including without limitation, limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any lienslien, security interestsinterest, judgment lienslien, charges charge or other encumbrances encumbrance upon any Loan PartyBorrower’s assets securing payment of the Guarantor Claims of such Guarantor shall be and remain inferior and subordinate to any lienslien, security interestsinterest, judgment lienslien, charges charge or other encumbrances encumbrance upon such Loan PartyBorrower’s assets securing payment of the Guaranteed ObligationsDebt, regardless of whether such encumbrances encumbrance in favor of any such Guarantor or Lender the Administrative Agent presently exist exists or are is hereafter created or attachattaches. Without the prior written consent of Lender as long as the Debt is outstandingAdministrative Agent, no neither Guarantor shall (a) exercise or enforce any creditor’s right it may have against any Loan Party, Borrower or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings proceeding (judicial or otherwise, including, without limitation, including the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any lienslien, mortgagesmortgage, deeds deed of trust, security interestsinterest, collateral rightsright, judgments judgment or other encumbrances encumbrance on assets of any Loan Party Borrower held by any such Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges charges, or other encumbrances upon any Loan Party’s Xxxxxxxx's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges charges, or other encumbrances upon such Loan Party’s Xxxxxxxx's assets securing payment of the Guaranteed ObligationsDebt, regardless of whether such encumbrances in favor of any such Guarantor or Lender the Loan Parties presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingAdministrative Agent, no Guarantor shall (a) exercise or enforce any creditor’s 's right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester sequester, or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief 's relief, or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments judgments, or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges charges, or other encumbrances upon any Loan Party’s Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges charges, or other encumbrances upon such Loan Party’s Borrower's assets securing payment of the Guaranteed ObligationsDebt, regardless of whether such encumbrances in favor of any such Guarantor or Lender the Credit Parties presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingAdministrative Agent, no Guarantor shall (a) exercise or enforce any creditor’s 's right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester sequester, or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief 's relief, or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments judgments, or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances in favor of Guarantor upon any Loan PartySeller’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances in favor of Buyer upon such Loan PartySeller’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any Guarantor or Lender Buyer presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingBuyer, no Guarantor shall not (ai) exercise or enforce any creditor’s right it they may have against any Loan PartySeller, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, including without limitation, limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of any Loan Party Seller securing payment of the Guarantor Claims held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges charges, or other encumbrances upon any Loan PartyBorrower’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges charges, or other encumbrances upon such Loan PartyBorrower’s assets securing payment of the Guaranteed ObligationsDebt, regardless of whether such encumbrances in favor of any such Guarantor or Lender the Loan Parties presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingAdministrative Agent, no Guarantor shall (a) exercise or enforce any creditor’s right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester sequester, or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief relief, or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments judgments, or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges charges, or other encumbrances upon any Loan Party’s Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges charges, or other encumbrances upon such Loan Party’s Borrower's assets securing payment of the Guaranteed ObligationsDebt, regardless of whether such encumbrances in favor of any Guarantor or Lender the Loan Parties presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingAdministrative Agent, no Guarantor shall not (a) exercise or enforce any creditor’s 's right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester sequester, or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief 's relief, or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments judgments, or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan PartyBorrower’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan PartyBorrower’s assets securing payment of the Guaranteed ObligationsDebt (as defined in the Loan Agreement), regardless of whether such encumbrances in favor of any Guarantor or Lender presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingLender, no Guarantor shall not (ai) exercise or enforce any creditor’s right it may have against any Loan PartyBorrower, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, including without limitation, limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan Party’s Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan Party’s any Borrower's assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any Guarantor or Lender presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingLender, no Guarantor shall (ai) exercise or enforce any creditor’s 's right it may have against any Loan PartyBorrower, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, including without limitation, limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s 's relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of any Loan Party Borrower held by any Guarantorit.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan Party’s assets securing payment of the any Guarantor Claims Claim shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan PartyBorrower’s assets securing payment of the Guaranteed ObligationsObligation, regardless of whether such encumbrances in favor of any such Guarantor or Lender presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstanding, no Guarantor shall (a) exercise or enforce any creditor’s right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of any Loan Party held by any Guarantor.

Liens Subordinate. Each Guarantor agrees Guarantors agree that any liens, security interests, judgment judgement liens, charges charges, or other encumbrances upon any Loan Party’s Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment judgement liens, charges charges, or other encumbrances upon such Loan Party’s Borrower's assets securing payment of the Guaranteed ObligationsDebt, regardless of whether such encumbrances in favor of any Guarantor or Lender the Loan Parties presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingAgent, no Guarantor shall (a) exercise or enforce any creditor’s 's right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester sequester, or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief 's relief, or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments judgments, or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges charges, or other encumbrances upon any Loan PartyBorrower’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges charges, or other encumbrances upon such Loan PartyBorrower’s assets securing payment of the Guaranteed ObligationsDebt, regardless of whether such encumbrances in favor of any Guarantor or Lender the Credit Parties presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingAdministrative Agent, no Guarantor shall not (a) exercise or enforce any creditor’s right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester sequester, or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief relief, or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments judgments, or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan PartyBorrower’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan PartyBorrower’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any Guarantor or Lender Note B Holder presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingNote B Holder, no Guarantor shall not (ai) exercise or enforce any creditor’s right it may have against any Loan PartyBorrower, or (bii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, including without limitation, limitation the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgagesmortgage, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan Party’s Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan Party’s Borrower's assets securing payment of the Guaranteed ObligationsLiabilities, regardless of whether such encumbrances in favor of any Guarantor Guarantor, the Agent or Lender the Lenders presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingMajority Lenders, no Guarantor shall not (a) exercise or enforce any creditor’s 's right it may have against any Loan Partythe Borrower, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings proceeding (judicial or otherwise, including, including without limitation, limitation the commencement of, of or joinder in, in any liquidation, bankruptcy, rearrangement, debtor’s 's relief or insolvency proceeding) to enforce any lienslien, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges charges, or other encumbrances upon any Loan Party’s Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges charges, or other encumbrances upon such Loan Party’s Borrower's assets securing payment of the Guaranteed ObligationsDebt, regardless of whether such encumbrances in favor of any such Guarantor or Lender the Credit Parties presently exist or are hereafter created or attachattached. Without the prior written consent of Lender as long as the Debt is outstandingAdministrative Agent, no Guarantor shall (a) exercise or enforce any creditor’s 's right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester sequester, or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief 's relief, or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments judgments, or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan PartyBorrower’s assets securing payment of the any Guarantor Claims Claim shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan PartyBorrower’s assets securing payment of the Guaranteed ObligationsObligation, regardless of whether such encumbrances in favor of any such Guarantor or Lender presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstanding, no Guarantor shall (a) exercise or enforce any creditor’s right it may have against any Loan PartyBorrower, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including, without limitation, the commencement of, or joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan Party’s Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan Party’s Borrower's assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of any Guarantor Guarantor, the Administrative Agent or Lender the Lenders presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingLenders, no Guarantor shall not (a) exercise or enforce any creditor’s 's right it may have against any Loan Partythe Borrower, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings proceeding (judicial or otherwise, including, including without limitation, limitation the commencement of, of or joinder in, in any liquidation, bankruptcy, rearrangement, debtor’s 's relief or insolvency proceeding) to enforce any lienslien, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.

Liens Subordinate. Each Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon any Loan Party’s Borrower's assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon such Loan Party’s Borrower's assets securing payment of the Guaranteed ObligationsLiabilities, regardless of whether such encumbrances in favor of any Guarantor Guarantor, the Trustee, Agent or Lender the Noteholders presently exist or are hereafter created or attach. Without the prior written consent of Lender as long as the Debt is outstandingTrustee, no Guarantor shall not (a) exercise or enforce any creditor’s 's right it may have against any Loan Partythe Borrower, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings proceeding (judicial or otherwise, including, including without limitation, limitation the commencement of, of or joinder in, in any liquidation, bankruptcy, rearrangement, debtor’s 's relief or insolvency proceeding) to enforce any lienslien, mortgages, deeds of trust, security interestsinterest, collateral rights, judgments or other encumbrances on assets of any Loan Party Borrower held by any Guarantor.