Retention of Proceeds. Neither Second Lien Creditor nor any other Second Lien Claimholder shall be permitted to retain any proceeds of Collateral received in connection with any Enforcement Action unless and until the Payment in Full of First Lien Priority Debt has occurred, and any such proceeds received or retained in any other circumstance will be subject to Section 4.2.
Appears in 3 contracts
Samples: Intercreditor Agreement (Boxlight Corp), Intercreditor Agreement (Boxlight Corp), Amended and Restated Intercreditor Agreement (Boxlight Corp)
Retention of Proceeds. Neither a Second Lien Creditor nor any other Second Lien Claimholder shall be permitted to retain any proceeds of Collateral received in connection with any Enforcement Action unless and until the Payment in Full of First Lien Priority Debt has occurred, and any such proceeds received or retained in any other circumstance will be subject to Section 4.2.
Appears in 2 contracts
Samples: Fourth Amended and Restated Intercreditor Agreement (Boxlight Corp), Intercreditor Agreement (Boxlight Corp)
Retention of Proceeds. Neither Second Lien Creditor Agent nor any other Second Lien Claimholder shall be permitted to retain any proceeds of Collateral received in connection with any Enforcement Action unless and until the Payment in Full of First Lien Priority Debt has occurred, and any such proceeds received or retained in any other circumstance will be subject to Section 4.2.
Appears in 1 contract
Retention of Proceeds. Neither Except as provided in Section 4.2, neither Second Lien Creditor Agent nor any other Second Lien Claimholder shall be permitted to retain any proceeds of Collateral received (except with respect the Second Lien DIP Priority Account Collateral) in connection with any Enforcement Action unless and until the Payment in Full of First Lien Priority Debt has occurred, and any such proceeds received or retained in any other circumstance will be subject to Section 4.2.
Appears in 1 contract
Samples: Intercreditor Agreement
Retention of Proceeds. Neither Second Lien Creditor Agent nor any other Second Lien Claimholder shall be permitted to retain any proceeds of Collateral received in connection with any Enforcement Action unless and until the Payment in Full of First Lien Priority Debt has occurred, and any such proceeds received or retained in any other circumstance will be subject to Section 4.2.
Appears in 1 contract
Samples: Intercreditor Agreement (Nuverra Environmental Solutions, Inc.)
