Common use of Reference to Secured Parties Clause in Contracts

Reference to Secured Parties. (a) In each case herein where any payment or distribution is to be made or notice is to be given to the “Secured Parties” or the Subordinated Noteholders, (i) such payments and distributions in respect of the Lenders and the Subordinated Noteholders, as applicable, shall be made to the Collateral Agent for distribution to the Lenders or the Subordinated Noteholders, as applicable, (ii) such notices in respect of the Lenders shall be made to the Administrative Agent and (iii) such notices in respect of the Subordinated Noteholders shall be made to the Collateral Agent (together with an instruction to the Collateral Agent to forward such notice to the Subordinated Noteholders). (b) Any reference herein to notice or other delivery to be provided to any Lender or S&P shall no longer be applicable after the Loan Payoff Date if all Commitments have been terminated (whether or not so specified herein). (c) Any reference herein to a consent to be obtained from any Lender or S&P shall no longer be applicable after the Loan Payoff Date if all Commitments have been terminated (whether or not so specified herein). (d) Any reference herein to notice or other delivery to be provided to S&P shall no longer be applicable if S&P is no longer rating any Loans (whether or not so specified herein).