Common use of Priority Lien Agent Clause in Contracts

Priority Lien Agent. (a) Notwithstanding anything to the contrary in this Agreement or the other Transaction Documents, the parties hereto agree as follows: (1) any reference to [Priority Lien Agent] in the Junior Intercreditor Agreement shall refer to the Collateral Agent; (2) the Collateral Agent, as [Priority Lien Agent], will not be required to take any action under the Junior Intercreditor Agreement, if any, unless and until the Applicable Authorized Representative directs the Collateral Agent in writing, as [Priority Lien Agent], to take such action; and (3) [in no event shall the Collateral Agent, as [Priority Lien Agent], be required to take any action in connection with the purchase or sale of the Secured Obligations under the Junior Intercreditor Agreement (rather, the purchases and sales of the Secured Obligations shall be coordinated among the holders of the [Junior Lien Debt] and the holders of the Secured Obligations (or their appointed representative))]. (b) In the event the Junior Intercreditor Agreement requires the delivery, or receipt, of any notice by the [Priority Lien Agent], such delivery or receipt will be deemed satisfied in all respects when the Collateral Agent makes such delivery or receives such notice. The parties hereto agree that this Section shall not be deemed to be in conflict or inconsistent with the Junior Intercreditor Agreement.

Priority Lien Agent. (a) Notwithstanding anything to the contrary in this Agreement or the other Transaction Documents, the parties hereto agree as follows:: ▇▇▇▇-▇▇▇▇-▇▇▇▇ v13 19 (1) any reference to [Priority Lien Agent] Representative in the Junior Intercreditor Agreement shall refer to the Collateral Agent; (2) the Collateral Agent, as [Priority Lien Agent]Representative, will not be required to take any action under the Junior Intercreditor Agreement, if any, unless and until the Applicable Authorized Representative directs the Collateral Agent in writing, as [Priority Lien Agent]Representative, to take such action; and (3) [in no event shall the Collateral Agent, as [Priority Lien Agent]Representative, be required to take any action in connection with the purchase or sale of the Secured Obligations under the Junior Intercreditor Agreement (rather, the purchases and sales of the Secured Obligations shall be coordinated among the holders of the [Junior Lien Debt] Debt and the holders of the Secured Obligations (or their appointed representative))]. (b) In the event the Junior Intercreditor Agreement requires the delivery, or receipt, of any notice by the [Priority Lien Agent]Representative, such delivery or receipt will be deemed satisfied in all respects when the Collateral Agent makes such delivery or receives such notice. The parties hereto agree that this Section shall not be deemed to be in conflict or inconsistent with the Junior Intercreditor Agreement.