Pari Passu Collateral Sample Clauses
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Pari Passu Collateral. The security interests and Liens granted hereunder in the Collateral in all respects shall rank pari passu with the security interests and Liens granted by Borrower under the Term Loan Agreement and the other Term Loan Documents.
Pari Passu Collateral. Each Loan Party represents and warrants that (excluding the exercise of rights of set-off) no Guaranty, collateral, security or other credit enhancement has been given, directly or indirectly, for the benefit of the Purchasers under the Note Purchase Agreement or otherwise except for (i) Guarantees from the Guarantors, (ii) the Note Purchase Documents, which provide the Purchasers with a prior security interest in the Loan Parties assets (other than Accounts and Inventory), and (iii) a subordinated security interest in and Lien on Accounts and Inventory. Complete and correct copies of the Note Purchase Documents have been delivered to the Banks.
Pari Passu Collateral. Each Loan Party represents and warrants that (excluding the exercise of rights of set-off) no Guaranty, collateral, security or other credit enhancement has been given, directly or indirectly, for the benefit of the Purchasers under the Note Purchase Agreement or otherwise
Pari Passu Collateral. Excluding the exercise of rights of set-off, no Guaranty, collateral, security or other credit enhancement has been given, directly or indirectly, for the benefit of Bank Lenders or any agent therefor under the Bank Financing Documents or otherwise except for (i) Guarantees from the Guarantors, (ii) the security agreement included in the Bank Financing Documents, which provides the Bank Lenders with a prior security interest in the Obligors’ Accounts and Inventory, and (iii) a subordinated security interest in and Lien on the other Collateral described in the Security Documents. Complete and correct copies of the Bank Financing Documents have been delivered to each of the Purchasers.