Replacement/Refinancing Sample Clauses

Replacement/Refinancing. If at any time in connection with or after the Discharge of Term Loan Obligations, PNI. enters into any replacement of the Term Loan Facility secured by all or a portion of the Term Priority Collateral (as defined in the ABL Intercreditor Agreement) on a first-priority basis or all or a portion of the ABL Priority Collateral (as defined in the ABL Intercreditor Agreement) on a second-priority basis (or, following the Discharge of ABL Obligations (as defined in the ABL Intercreditor Agreement), on a first-priority basis), respectively, then (i) such prior Discharge of Term Loan Obligations shall automatically be deemed not to have occurred for all purposes of the this Agreement, the Term Loan Facility, the Indenture and the Collateral Documents, and (ii) the obligations under such replacement Term Loan Facility shall automatically be treated as Term Loan Obligations for all purposes of this Agreement, including for purposes of the Lien Priorities and rights in respect of the Collateral (or the applicable portion thereof) set forth herein. If at any time in connection with or after the Discharge of Notes Obligations, PNI enters into any replacement of the Notes Obligations secured by all or a portion of the Term Priority Collateral on a second-priority basis or all or a portion of the ABL Priority Collateral on a third-priority basis, respectively, then (i) such prior Discharge of Notes Obligations shall automatically be deemed not to have occurred for all purposes of the Agreement, the Term Loan Facility, the Indenture and the Collateral Documents, and (ii) such replacement Notes Obligations shall automatically be treated as Notes Obligations for all purposes of this Agreement, including for purpose of the Lien Priorities and rights in respect of the Collateral set forth herein. Notwithstanding anything to the contrary contained herein, in connection with any refinancing or replacement contemplated by the foregoing, this Agreement may be amended at the request and sole expense of the Borrower, and without the consent of any lender under the Term Loan Facility, the Term Loan Administrative Agent, the Notes Trustee or a Noteholder, (a) to add parties (or any authorized agent or trustee therefor) providing any such refinancing or replacement indebtedness in compliance with this Agreement and (b) to establish that Liens on any Collateral securing such refinancing or replacement Indebtedness shall have the same priority (or junior priority) as the Liens on any C...