Common use of New Liens Clause in Contracts

New Liens. So long as the First Lien Obligations have not been Paid in Full, the parties hereto agree that no additional Liens shall be granted or permitted on any asset of the US Borrower or any other Obligor to secure any Obligation unless, subject to the terms of this Agreement, immediately after giving effect to such grant or concurrently therewith, a Lien shall be granted on such asset to secure all of the Obligations (subject to the terms and conditions of this Agreement). To the extent that the foregoing provisions are not complied with for any reason, without limiting any other rights and remedies available to the First Lien Agent, the First Lien Creditors, the Second Lien Agent, or the Second Lien Creditors, the parties hereto agree that any amounts received by or distributed to any of them pursuant to or as a result of Liens granted in contravention of this Section 2.11 shall be subject to the terms of this Agreement. Notwithstanding the foregoing, to the extent that the pledge of any capital stock or other securities of any subsidiary of Xxxxxxx Holding Corp. results in Xxxxxxx Holding Corp. being required to file separate financial statements of such subsidiary with the Securities Exchange Commission (but only to the extent Xxxxxxx Holding Corp. is subject to such requirement and only for so long as such requirement is in existence), a Lien may be granted on such capital stock or other securities to secure the First Lien Obligations regardless of whether or not a Lien is granted thereon to secure the Second Lien Obligations.

New Liens. So long as the Discharge of First Lien Obligations shall not have not been Paid in Fulloccurred, the parties hereto agree that no additional Liens shall be granted or permitted on any asset of the US any Borrower or any other Obligor to secure any Second Lien Obligation unless, subject to the terms of this Agreement, immediately after giving effect to such grant or concurrently therewith, a senior and prior Lien shall be granted on such asset to secure all the First Lien Obligations. So long as the Discharge of Second Lien Obligations shall not have occurred, the Obligations (parties hereto agree that no additional Liens shall be granted or permitted on any asset of any Borrower or any other Obligor to secure any First Lien Obligation unless, subject to the terms and conditions of this Agreement), immediately after giving effect to such grant or concurrently therewith, a junior and subordinated Lien shall be granted on such asset to secure the Second Lien Obligations. To the extent that the foregoing provisions of this Section are not complied with for any reason, without limiting any other rights and remedies available to the First Lien Agent, Agent or the First Lien Creditors, the Second Lien Agent, or on behalf of the Second Lien Creditors, the parties hereto agree agrees that any amounts received by or distributed to any of them pursuant to or as a result of Liens granted in contravention of this Section 2.11 2.9 shall be subject to the terms of this Agreement. Notwithstanding , including the foregoing, to the extent that the pledge turnover provisions of any capital stock or other securities of any subsidiary of Xxxxxxx Holding Corp. results in Xxxxxxx Holding Corp. being required to file separate financial statements of such subsidiary with the Securities Exchange Commission (but only to the extent Xxxxxxx Holding Corp. is subject to such requirement and only for so long as such requirement is in existence), a Lien may be granted on such capital stock or other securities to secure the First Lien Obligations regardless of whether or not a Lien is granted thereon to secure the Second Lien ObligationsSection 2.4.