Common use of Most Favoured Lenders Clause in Contracts

Most Favoured Lenders. (1) If at any time the Second Lien Financing Agreement or any other agreement related to the Second Lien Debt includes: (a) any one or more covenants or events of default that are not provided for in the Documents taking into account the different relevant circumstance between the Second Lien Financing Agreement and the Second Lien Creditors and the Documents and the Lenders, or (b) any one or more covenants or events of default that are more restrictive, taken individually or as a whole, than the same or similar covenants or events of default provided in this Agreement or the other Documents taking into account the different relevant circumstances between the Second Lien Financing Agreement and the Second Lien Creditors and the Documents and the Lenders, then: (i) such additional or more restrictive covenants or events of default shall upon notice from the Agent be incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no such provision may thereafter be waived, amended or modified under this Agreement except pursuant to the provisions of Section 16.10, and (ii) the Borrowers shall promptly, and in any event within ten (10) days after entering into any such additional or more restrictive covenants or events of default so advise the Agent in writing; provided that, if any such additional or more restrictive covenant or event of default provided to the Second Lien Creditors is eliminated, such elimination will automatically apply to this Agreement (including, for certainty, any amendments made to this Agreement to reflect any such additional or more restrictive covenant or event of default which shall be deemed to have been amended to eliminate the same). Thereafter, upon the request of the Majority of the Lenders, the Majority of the Lenders shall enter into an amendment to this Agreement evidencing the incorporation of such additional or more restrictive covenants or events of default, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in subparagraph (i) of the immediately preceding sentence.

Most Favoured Lenders. (1) If at any time the Second Lien Financing Agreement any Note Document is proposed to be amended, modified or any other agreement related supplemented to the Second Lien Debt includesinclude, whether directly or indirectly: (a) any one or more covenants or conditions, covenants, events of default or other terms that are not provided for in the Loan Documents taking into account the different relevant circumstance circumstances between the Second Lien Financing Agreement applicable Note Purchase Agreements and the Second Lien Creditors holders of the Notes and the Loan Documents and the Lenders, or (b) any one or more covenants or conditions, covenants, events of default or other terms that are more restrictiveproscriptive or restrictive on the Borrower and its Subsidiaries, taken individually or as a whole, than the same or similar covenants or conditions, covenants, events of default or other terms provided in the this Agreement or the other Loan Documents taking into account the different relevant circumstances between the Second Lien Financing Agreement applicable Note Purchase Agreements and the Second Lien Creditors holders of the Notes and the Loan Documents and the Lenders, then: (i) then such additional or more restrictive covenants or events of default provisions shall upon notice from the Agent automatically be incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no such provision may thereafter be waived, amended or modified under this the Credit Agreement except pursuant to the provisions of Section 16.1014.4, and (ii) unless the Borrowers shall promptly, and in any event within ten (10) Agent on behalf of the Majority Lenders provides written notice to the Borrower no later than 20 days after entering into any receiving notice of such provisions having been included in the applicable Note Purchase Agreements that they object to one or more of such proposed additional or more proscriptive or restrictive covenants or conditions, covenants, events of default so advise the Agent in writing; provided that, if any or other terms and such additional or more restrictive covenant or event of default provided objected to the Second Lien Creditors is eliminated, such elimination terms will automatically apply to thereafter not be incorporated into this Agreement (including, for certainty, any amendments made to this Agreement to reflect any such additional or more restrictive covenant or event of default which shall be deemed to have been amended to eliminate the same)Agreement. Thereafter, upon the request of the Majority of the Lenders, the Majority of the Lenders Loan Parties shall enter into an amendment to this Agreement the Loan Documents evidencing the incorporation of such additional or more proscriptive or restrictive covenants or conditions, covenants, events of defaultdefault or other terms, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in subparagraph (iii) of the immediately preceding sentence. All costs and expenses of the Agent and the Lenders incurred in connection with any such amendment (including, without limitation, the reasonable fees and expenses of Lenders' Counsel) shall be paid for by of the Borrower in accordance with the expense reimbursement provisions set forth in Section 11.6. For greater certainty, any condition, covenant, event of default or other term in effect under the Note Purchase Agreements on or before the date hereof shall not trigger the requirements under this Section 8.4.

Most Favoured Lenders. (1) If if at any time the Second Lien Financing Agreement or any other agreement related to the Second Lien Debt includes: (a) any one or more covenants or events of default that are not provided for in the Documents taking into account the different relevant circumstance between the Second Lien Financing Agreement and the Second Lien Creditors and the Documents and the Lenders, or (b) includes any one or more covenants or events of default that are more onerous or restrictive, taken individually or as a whole, than the same or similar covenants or events of default provided in this the Credit Agreement or the other Loan Documents taking into account the different relevant circumstances between the Second Lien Financing Agreement and the Second Lien Creditors and the Loan Documents and the Lenders, then: (i) such additional or more restrictive covenants or events of default shall upon notice from the Agent be incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis, and no such provision may thereafter be waived, amended or modified under this Agreement except pursuant to the provisions of Section 16.1012.12 of the Credit Agreement, and (ii) the Borrowers Borrower shall promptly, and in any event within ten (10) days 10 Business Days after entering into any such additional or more restrictive covenants or events of default so advise the Agent in writing; provided that, if any such additional or more restrictive covenant or event of default provided to the Second Lien Creditors is eliminated, such elimination will automatically apply to this Agreement (including, for certainty, any amendments made to this Agreement to reflect any such additional or more restrictive covenant or event of default which shall be deemed to have been amended to eliminate the same). Thereafter, upon the request of the Majority of the Lenders, the Majority of the Lenders shall enter into an amendment to this the Credit Agreement evidencing the incorporation of such additional or more restrictive covenants or events of default, it being agreed that any failure to make such request or to enter into any such amendment shall in no way qualify or limit the incorporation by reference described in subparagraph (i) of the immediately preceding sentence.. Notwithstanding the foregoing, any provisions of any Second Lien Financing Agreement that establish any interest rate shall not be subject to the foregoing requirements; and