Common use of Rights as Unsecured Creditors Clause in Contracts

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 12 contracts

Samples: Intercreditor Agreement (Endurance International Group Holdings, Inc.), Security Agreement (Rockwood Holdings, Inc.), Junior Lien Intercreditor Agreement (Virtu Financial, Inc.)

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Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Second-Priority Representatives Agents and the Second Second-Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor Subsidiary that has guaranteed the Second-Priority Claims in accordance with the terms of the Second applicable Second-Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any Second Second-Priority Representative Agent or any Second Second-Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of the exercise by a Second any Second-Priority Representative Agent or any Second Second-Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or enforcement in contravention of this Agreement of any Lien in respect of Second-Priority Claims held by any of them. In the event any Second Second-Priority Representative Agent or any Second Second-Priority Debt Secured Party becomes a judgment lien creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Second-Priority Debt ObligationsClaims, such judgment lien shall be subordinated to the Liens securing Senior Obligations Lender Claims on the same basis as the other Liens securing the Second Second-Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Lender Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives Intercreditor Agent or the Senior Secured Parties Lenders may have with respect to the Senior Lender Collateral.

Appears in 8 contracts

Samples: Intercreditor Agreement (Momentive Specialty Chemicals Inc.), Intercreditor Agreement (Momentive Performance Materials Inc.), Intercreditor Agreement (Hexion Specialty Chemicals, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 7 contracts

Samples: Pledge Agreement (Liberty Global PLC), Second Lien Intercreditor Agreement (Laureate Education, Inc.), Credit Agreement (Weight Watchers International Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Junior Priority Representatives and the Second Junior Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Junior Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Junior Priority Representative or any Second Junior Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise in contravention of this Agreement by a Second Junior Priority Representative or any Second Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Junior Priority Representative or any Second Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 5 contracts

Samples: Assignment and Assumption (Vine Resources Inc.), Assignment and Assumption (Vine Resources Inc.), Junior Lien Intercreditor Agreement (American Renal Associates Holdings, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate (or are not otherwise prohibited by) any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 5 contracts

Samples: Intercreditor Agreement (Life Time Group Holdings, Inc.), Credit Agreement (Bright Horizons Family Solutions Inc.), Security Agreement (M/a-Com Technology Solutions Holdings, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Agents and the Second Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and Borrower or any other Grantor in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or other collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations Lender Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Lender Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Agents or the Senior Secured Parties Lenders may have with respect to the Senior Lender Collateral.

Appears in 5 contracts

Samples: Second Lien Intercreditor Agreement (Caesars Acquisition Co), Intercreditor Agreement (Aeroways, LLC), Credit Agreement (Aeroways, LLC)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Agents and the Second Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and a Borrower or any other Grantor Pledgor in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or other collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations Lender Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Lender Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Agents or the Senior Secured Parties may have with respect to the Senior Lender Collateral.

Appears in 5 contracts

Samples: Credit Agreement (Norwegian Cruise Line Holdings Ltd.), Credit Agreement (Norwegian Cruise Line Holdings Ltd.), Credit Agreement (Norwegian Cruise Line Holdings Ltd.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 5 contracts

Samples: Intercreditor Agreement (Focus Financial Partners Inc.), Intercreditor Agreement (Canada Goose Holdings Inc.), Intercreditor Agreement (Canada Goose Holdings Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors against Holdings, the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law Applicable Law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien Lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior Priority Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Priority Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

Appears in 4 contracts

Samples: Intercompany Loan Agreement (Grocery Outlet Holding Corp.), First Lien Credit Agreement (Grocery Outlet Holding Corp.), Junior Priority Intercreditor Agreement (MultiPlan Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company any Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 4 contracts

Samples: Intercreditor Agreement (BrightView Holdings, Inc.), Intercreditor Agreement (BrightView Holdings, Inc.), Intercreditor Agreement (National Vision Holdings, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Parent Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Collateral Agent, the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 4 contracts

Samples: Collateral Agreement (SMART Global Holdings, Inc.), Collateral Agreement (SMART Global Holdings, Inc.), Collateral Agreement (SMART Global Holdings, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Parent Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 4 contracts

Samples: Security Agreement (Par Pharmacuetical, Inc.), Credit Agreement (Campbell Alliance Group Inc), Credit Agreement (Campbell Alliance Group Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary Except as otherwise set forth in this Agreement, the Second Priority Representatives Trustee and the Second Priority Debt Parties Subordinated Creditor may exercise rights and remedies as unsecured creditors against the Company and or any other Grantor that has guaranteed the Subordinated Obligations in accordance with the terms of the Second Priority Subordinated Debt Documents and applicable law so long law. Except as such rights and remedies do not violate any express provision of otherwise set forth in this Agreement. Nothing , nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the Trustee or any Second Priority Debt Party other Subordinated Creditor of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Permitted Subordinated Debt Documents Payments so long as such receipt is (i) not the direct or indirect result of the exercise by a Second Priority Representative the Trustee or the Subordinated Creditor of rights or remedies (including, without limitation, any Second Priority Debt Party Enforcement Action and any exercise of rights or remedies as a secured creditor (including set-off)) in respect contravention of Shared Collateralthis Agreement and (ii) permitted under the Senior Credit Documents. In the event any Second Priority Representative the Trustee or any Second Priority Debt Party the Subordinated Creditor becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Subordinated Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives Agent or the other Senior Secured Parties Creditors may have with respect to the Senior Collateral.

Appears in 3 contracts

Samples: Recapitalization Agreement (Singapore Technologies Telemedia Pte LTD), Recapitalization Agreement (Global Crossing LTD), Subordination and Intercreditor Agreement (Global Crossing LTD)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Agents and the Second Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor that has guaranteed the Second Priority Claims in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or other collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations Lender Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Lender Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Agents or the Senior Secured Parties Lenders may have with respect to the Senior Lender Collateral.

Appears in 3 contracts

Samples: Intercreditor Agreement (Claires Stores Inc), Intercreditor Agreement (Claires Stores Inc), Intercreditor Agreement (Quality Distribution Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise in contravention of this Agreement by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 3 contracts

Samples: Security Agreement (Red Lion Hotels CORP), Intercreditor Agreement (Hilton Grand Vacations Inc.), Credit Agreement (Hilton Grand Vacations Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, each of the Second Priority Representatives Agents and the Second Priority Debt Parties Lenders may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor Subsidiary that has guaranteed the Second Priority Obligations in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Party Lenders of the required payments of principalinterest, premium, interestif any, fees and other amounts due under principal on the Second Priority Debt Documents Claims and related fees and expenses so long as such receipt is not the direct or indirect result of the exercise by a any Second Priority Representative Agent or any Second Priority Debt Party Lender of rights or remedies as a secured creditor or enforcement in contravention of this Agreement of any Lien held by any of them (or received or paid in respect of Shared Collateralany Common Collateral in the event of the occurrence of an Insolvency or Liquidation Proceeding with respect to a Grantor). In the event any Second Priority Representative Agent or any Second Priority Debt Party Lender becomes a judgment lien creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien shall be subordinated to the Liens securing Senior Obligations First Priority Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations First Priority Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives Credit Agent or the Senior Secured Parties First Priority Lenders may have with respect to the Senior First Priority Collateral.

Appears in 3 contracts

Samples: Credit Agreement (Tenneco Inc), Intercreditor Agreement (Clevite Industries Inc), Intercreditor Agreement (Tenneco Automotive Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Agents and the Second Priority Debt Parties Lenders may exercise rights and remedies as an unsecured creditors creditor against Holdings, the Company and or any other Grantor Subsidiary that has guaranteed the Second Priority Claims in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Party Lender of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Party Lender of rights or remedies as a secured creditor in respect of Shared Collateralthe applicable portion of the Common Collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Party Lender becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations First Priority Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations First Priority Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives ABL Agent or the Senior Secured Parties ABL Lenders may have with respect to the Senior ABL Priority Collateral, or any rights or remedies the Term Loan Agents or the Term Loan Lenders may have with respect to the Term Loan Priority Collateral.

Appears in 3 contracts

Samples: Intercreditor Agreement (AZEK Co Inc.), Intercreditor Agreement (CPG Newco LLC), Intercreditor Agreement (CPG Newco LLC)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and Holdings or any Borrower or other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 3 contracts

Samples: Second Lien Intercreditor Agreement (Cb Richard Ellis Group Inc), Credit Agreement (Cbre Group, Inc.), Credit Agreement (Cbre Group, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in Except as otherwise expressly set forth in, or barred by, this Agreement, the Second Priority Representatives Term Loan Collateral Agent and the Second Priority Debt Term Loan Secured Parties may exercise their rights and remedies remedies, if any, as an unsecured creditors creditor against the Company and or any other Grantor that has guaranteed the Term Loan Obligations in accordance with the terms of the Second Priority Debt applicable Term Loan Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the Term Loan Collateral Agent or any Second Priority Debt Term Loan Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative the Term Loan Collateral Agent or any Second Priority Debt Term Loan Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or enforcement in contravention of this Agreement of any Lien on the Common Collateral in respect of Term Loan Obligations held by any of them or in any Insolvency or Liquidation Proceeding. In the event any Second Priority Representative the Term Loan Collateral Agent or any Second Priority Debt Term Loan Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Collateral Common Collateral, as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsTerm Loan Obligations or otherwise, such judgment lien Lien or any other Lien shall be (i) subordinated to the Liens securing Senior ABL Obligations on the same basis as the other Liens securing the Second Priority Debt Term Loan Obligations are so subordinated to such the First Priority Liens securing Senior ABL Obligations under this Agreement, and (ii) otherwise subject to the terms of this Agreement for all purposes to the same extent as all other Liens on Common Collateral securing the Term Loan Obligations are subject to this Agreement. Nothing in this Agreement impairs, shall impair be construed to impair, or otherwise adversely affect affects any rights or remedies the Senior Representatives ABL Collateral Agent or the Senior ABL Secured Parties may have with respect to the Senior Common Collateral.

Appears in 2 contracts

Samples: Abl Intercreditor Agreement (Tesoro Corp /New/), Security Agreement (Tesoro Corp /New/)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrowers and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Outfront Media Minnesota LLC), Security Agreement (OUTFRONT Media Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary (i) Except as otherwise set forth in this Agreement, the Second Priority Representatives Term Loan Collateral Agent and the Second Priority Debt Term Loan Secured Parties may exercise rights and remedies as unsecured creditors against the Company and Borrower or any other Grantor in accordance with the terms of the Second Priority Debt Term Loan Documents to which it is a party and applicable law so long as to the extent that the exercise of such rights and remedies do is not violate any express provision inconsistent with the terms of this Agreement. Nothing Except as otherwise set forth in this Agreement, nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the Term Loan Collateral Agent or any Second Priority Debt Party Term Loan Secured Parties of the required payments of principal, premium, interest, fees principal and other amounts due under in respect of the Second Priority Debt Documents Term Loan Obligations so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative the Term Loan Collateral Agent or any Second Priority Debt Party Term Loan Secured Parties of rights or remedies as a secured creditor (including set-off) in respect of Shared Collateralthe ABL Facility Priority Collateral in contravention of this Agreement or enforcement in contravention of this Agreement of any Lien held by any of them. In the event any Second Priority Representative the Term Loan Collateral Agent or any Second Priority Debt other Term Loan Secured Party becomes a judgment lien Lien creditor in respect of Shared ABL Facility Priority Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien Lien shall be subordinated to the Liens securing Senior ABL Facility Obligations on the same basis as the other Liens on the ABL Facility Priority Collateral securing the Second Priority Debt Term Loan Obligations are so subordinated to such Liens securing Senior ABL Facility Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Security Agreement (Jill Intermediate LLC), Credit Agreement (Jill Intermediate LLC)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, during an Event of Default (as defined under the Second Priority Debt Documents), the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives Representative or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Second Lien Intercreditor Agreement (Quicksilver Resources Inc), Guaranty Agreement (Quicksilver Resources Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Second-Priority Representatives Agents and the Second Second-Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor Subsidiary that has guaranteed the Second-Priority Claims in accordance with the terms of the Second applicable Second-Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any Second Second-Priority Representative Agent or any Second Second-Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of the exercise by a Second any Second-Priority Representative Agent or any Second Second-Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or other collateral or enforcement in contravention of this Agreement of any Lien in respect of Second-Priority Claims held by any of them. In the event any Second Second-Priority Representative Agent or any Second Second-Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Second-Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations Lender Claims on the same basis as the other Liens securing the Second Second-Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Lender Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives Intercreditor Agent or the Senior Secured Parties Lenders may have with respect to the Senior Lender Collateral.

Appears in 2 contracts

Samples: Intercreditor Agreement (Verso Sartell LLC), Intercreditor Agreement (Verso Paper Corp.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary (i) Except as otherwise set forth in this Agreement, the Second Priority Representatives Revolving Facility Agent and the Second Priority Debt Revolving Facility Secured Parties may exercise rights and remedies as unsecured creditors against the Company and or any other Grantor in accordance with the terms of the Second Priority Debt Revolving Facility Documents to which it is a party and applicable law so long law. Except as such rights and remedies do not violate any express provision of otherwise set forth in this Agreement. Nothing , nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the Revolving Facility Agent or any Second Priority Debt Party Revolving Facility Secured Parties of the required payments of principal, premium, interest, fees principal and other amounts due under in respect of the Second Priority Debt Documents Revolving Facility Obligations so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative the Revolving Facility Agent or any Second Priority Debt Party Revolving Facility Secured Parties of rights or remedies as a secured creditor (including set off) in respect of Shared Collateralthe Notes Priority Collateral in contravention of this Agreement or enforcement in contravention of this Agreement of any Lien on Notes Priority Collateral held by any of them. In the event any Second Priority Representative the Revolving Facility Agent or any Second Priority Debt other Revolving Facility Secured Party becomes a judgment lien Lien creditor in respect of Shared Notes Priority Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien Lien shall be subordinated to (x) the Liens securing Senior First Lien Obligations and (y) if any Additional Second Lien Obligations have been issued, the Liens securing the Second Lien Obligations, in each case, on the same basis as the other Liens on the Notes Priority Collateral securing the Second Priority Debt Revolving Facility Obligations are so subordinated to such Liens securing Senior the First Lien Obligations and Second Lien Obligations, respectively, under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Intercreditor Agreement (Interline Brands, Inc./De), Intercreditor Agreement (Interline Brands, Inc./De)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate or are not otherwise inconsistent with any express other provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral, Restricted Assets or Sale Proceeds. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Debt Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Debt Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral, Restricted Assets or Sale Proceeds.

Appears in 2 contracts

Samples: Intercreditor Agreement (Pennsylvania Real Estate Investment Trust), Intercreditor Agreement (Pennsylvania Real Estate Investment Trust)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives Representative or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Second Lien Intercreditor Agreement (Samson Resources Corp), Credit Agreement (Samson Holdings, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this AgreementExcept as otherwise expressly provided for herein, the Second Junior Priority Representatives and the Second Junior Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Junior Priority Debt Documents and applicable law Applicable Law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Junior Priority Representative or any Second Junior Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Junior Priority Representative or any Second Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement, or of any other action in contravention of this Agreement. In the event that any Second Junior Priority Representative or any Second Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated and junior to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Intercreditor Agreement (Avaya Holdings Corp.), Abl Security Agreement (Avaya Holdings Corp.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor Company, the Borrowers or the Guarantors in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate violate, or are not otherwise inconsistent with, any express provision of this AgreementAgreement (including any provision prohibiting or restricting the Second Priority Representatives or the Second Priority Debt Parties from taking various actions or making various objections). Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral (including any right of setoff or recoupment). In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Lien Authorized Representatives and the Second Priority Debt Lien Secured Parties may exercise rights and remedies as unsecured creditors against the Company Parent, the Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Lien Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any Second Priority Lien Authorized Representative or any Second Priority Debt Lien Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Lien Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Lien Authorized Representative or any Second Priority Debt Lien Secured Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Lien Authorized Representative or any Second Priority Debt Lien Secured Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Lien Obligations, such judgment lien shall be subordinated to the Liens securing Senior First Lien Obligations on the same basis as the other Liens securing the Second Priority Debt Lien Obligations are so subordinated to such Liens securing Senior First Lien Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior First Lien Collateral Agent, the First Lien Authorized Representatives or the Senior First Lien Secured Parties may have with respect to the Senior First Lien Collateral.

Appears in 2 contracts

Samples: Credit Agreement (SemGroup Corp), Continuing Covenant Agreement (SemGroup Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Agents and the Second Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor Subsidiary that has guaranteed the Second Priority Claims in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or other collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations Lender Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Lender Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Agents or the Senior Secured Parties Lenders may have with respect to the Senior Lender Collateral.

Appears in 2 contracts

Samples: Intercreditor Agreement (Berry Plastics Holding Corp), Intercreditor Agreement (Berry Plastics Group Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Junior Priority Representatives and the Second Junior Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and Borrower or any other Grantor in accordance with the terms of the Second Junior Priority Debt Documents and applicable law so long as such exercise of rights and remedies do is not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Junior Priority Representative or any Second Junior Priority Debt Party of the required scheduled payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Junior Priority Representative or any Second Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Junior Priority Representative or any Second Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Costar Group Inc), Credit Agreement (Costar Group Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives Agents and the Second Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and Borrower or any other Grantor in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with or otherwise in contravention of the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or (b) enforcement in contravention of this Agreement of any Lien on Common Collateral in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations Creditor Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Creditor Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Agents or the Senior Secured Parties Creditors may have with respect to the Senior Creditor Collateral.

Appears in 2 contracts

Samples: Joinder Agreement (Caesars Entertainment, Inc.), Joinder Agreement (Caesars Entertainment, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority The Junior Representatives and the Second Junior Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor Borrower or the Guarantors in accordance with the terms of the Second Junior Priority Debt Documents and applicable law so long as such rights and remedies do not violate or are not otherwise inconsistent with any express other provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Junior Representative or any Second Junior Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Junior Representative or any Second Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Junior Representative or any Second Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Wyndham Destinations, Inc.), Credit Agreement (Wyndham Destinations, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors to the extent not inconsistent with this Agreement against Holdings, the Company Borrower and any other Grantor and in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Collateral Agent, the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Trinet Group Inc), Assignment and Assumption (Trinet Group Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law Law so long as such rights and remedies do not violate violate, or are not otherwise inconsistent with, any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien Lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Lamb Weston Holdings, Inc.), Credit Agreement (Lamb Weston Holdings, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Agents and the Second Priority Debt Parties Lenders may exercise rights and remedies as an unsecured creditors creditor against Holdings, the Company and Term Loan Borrower, any other Grantor ABL Borrower or any Subsidiary that has guaranteed the Second Priority Claims in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Party Lender of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Party Lender of rights or remedies as a secured creditor in respect of Shared Collateralthat portion of the Common Collateral on which the Second Priority Agents and the Second Priority Lenders have a Second Priority Claim or (b) enforcement in contravention of this Agreement or any other applicable intercreditor agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Party Lender becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations First Priority Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations First Priority Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives ABL Agent or the Senior Secured Parties ABL Lenders may have with respect to the Senior ABL Priority Collateral, or any rights or remedies the Term Loan Agents or the Term Loan Lenders may have with respect to the Term Loan Priority Collateral.

Appears in 2 contracts

Samples: Intercreditor Agreement (Forterra, Inc.), Intercreditor Agreement (Forterra, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary (i) Except as otherwise set forth in this Agreement, the Second Priority Representatives First Lien Security Agent and the Second Priority Debt First Lien Secured Parties may exercise rights and remedies as unsecured creditors against the Company and or any other Grantor in accordance with the terms of the Second Priority Debt First Lien Documents to which it is a party and applicable law so long law. Except as such rights and remedies do not violate any express provision of otherwise set forth in this Agreement. Nothing , nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the First Lien Security Agent or any Second Priority Debt Party First Lien Secured Parties of the required payments of principal, premium, interest, fees principal and other amounts due under in respect of the Second Priority Debt Documents First Lien Obligations so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative the First Lien Security Agent or any Second Priority Debt Party First Lien Secured Parties of rights or remedies as a secured creditor (including set off) in respect of Shared Collateralthe Revolving Facility Priority Collateral in contravention of this Agreement or enforcement in contravention of this Agreement of any Lien on Revolving Facility Priority Collateral held by any of them. In the event any Second Priority Representative the First Lien Security Agent or any Second Priority Debt other First Lien Secured Party becomes a judgment lien Lien creditor in respect of Shared Revolving Facility Priority Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien Lien shall be subordinated to the Liens securing Senior Revolving Facility Obligations on the same basis as the other Liens on the Revolving Facility Priority Collateral securing the Second Priority Debt First Lien Obligations are so subordinated to such Liens securing Senior the Revolving Facility Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Intercreditor Agreement (Interline Brands, Inc./De), Intercreditor Agreement (Interline Brands, Inc./De)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors against the Company Borrowers and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law Law so long as such rights and remedies do not violate violate, or are not otherwise inconsistent with, any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien Lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

Appears in 2 contracts

Samples: Intercreditor Agreement (PAE Inc), Intercreditor Agreement (VERRA MOBILITY Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives The Junior Lien Collateral Trustee and the Second other Junior Priority Debt Parties may exercise any rights and remedies as unsecured creditors they may have against the Company Borrower and any other Grantor in accordance with the terms of the Second Junior Priority Debt Documents and applicable law so long as such rights and remedies do not violate violate, or are not otherwise inconsistent with, any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the Junior Lien Collateral Trustee or any Second other Junior Priority Debt Party of the required payments of principal, premium, interest, fees fees, indemnities, expenses and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative the Junior Lien Collateral Trustee or any Second other Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement or is not otherwise subject to turnover pursuant to Section 4.02. In the event any Second Priority Representative the Junior Lien Collateral Trustee or any Second other Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations and any DIP Financing (and all obligations relating thereto) on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties Tenaska may have with respect to the Senior Collateral. For the avoidance of doubt, the terms of this Agreement govern the respective rights of Tenaska, the Junior Lien Collateral Trustee and the Junior Priority Parties in respect of the Shared Collateral. The Junior Lien Collateral Trustee and Junior Priority Parties shall be senior secured creditors in respect of the Other Collateral and may exercise any rights and remedies as secured or unsecured creditors they may have against the Borrower and any other Grantor in respect of the Other Collateral in accordance with the terms of the Junior Priority Debt Documents, the Junior Priority Collateral Documents, the Collateral Trust Agreement and applicable law.

Appears in 2 contracts

Samples: Guarantee and Collateral Agreement, Shared Collateral Intercreditor Agreement

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Agents and the Second Priority Debt Parties Holders may exercise rights and remedies as an unsecured creditors creditor against New Pyxus Topco, any Grantor or any Subsidiary that has guaranteed the Company and any other Grantor Second Priority Claims in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Party Holder of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Party Holder of rights or remedies as a secured creditor in respect of Shared Collateralthe applicable portion of the Common Collateral or (b) enforcement in contravention of this Agreement or any other applicable intercreditor agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Party Holder becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations First Priority Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations First Priority Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives ABL Agents or the Senior Secured Parties ABL Lenders may have with respect to the Senior ABL Priority Collateral, or any rights or remedies the Term/Note Agents or the Term/Note Holders may have with respect to the Term/Note Priority Collateral.

Appears in 2 contracts

Samples: Notes Intercreditor Agreement (Pyxus International, Inc.), Credit Agreement (Pyxus International, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate or are not otherwise inconsistent with any express other provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Mercury Systems Inc), Credit Agreement (JOANN Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives The Junior Lien Representative and the Second Priority Debt Junior Lien Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor Subsidiary that has guaranteed the Junior Priority Obligations in accordance with the terms of the Second applicable Junior Priority Debt Documents and applicable law so long as such rights and remedies do to the extent not violate any express provision inconsistent with, or prohibited by, the terms of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority the Junior Lien Representative or any Second Priority Debt Junior Lien Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of the exercise by a Second Priority the Junior Lien Representative or any Second Priority Debt Junior Lien Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral or other collateral or enforcement in contravention of this Agreement of any Lien in respect of Junior Priority Obligations held by any of them or in any Insolvency or Liquidation Proceeding. In the event any Second Priority the Junior Lien Representative or any Second Priority Debt Junior Lien Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared any Collateral, First Lien Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt ObligationsObligations or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior the First Lien Obligations on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated to such the First Priority Liens securing Senior First Lien Obligations under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Representative or the Senior First Lien Secured Parties may have with respect to the Senior First Lien Collateral.

Appears in 2 contracts

Samples: Junior Priority Intercreditor Agreement, Junior Priority Intercreditor Agreement (J C Penney Co Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Representative and the Second Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors against the Company and Second Lien Issuer, the Borrower or any other Grantor Loan Party that has guaranteed the Second Priority Obligations in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate law, including, without limitation, the acceleration of any express provision of this AgreementIndebtedness or other obligations owing under the Second Priority Documents or the demand for payment under the guarantee in respect thereof. Nothing in this Agreement shall prohibit the receipt by any the Second Priority Representative or any Second Priority Debt Party Secured Parties of the required payments of principal, interest and principal (and premium, interest, fees and other amounts due under the Second Priority Debt Documents if any) so long as such receipt is not the direct or indirect result of the exercise by a the Trustee, the Second Priority Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared Common Collateral. In the event that the Second Priority Representative of any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of the Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior the First Priority Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior the First Priority Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Intercreditor Agreement (Seagate Technology), Intercreditor Agreement (Seagate Technology PLC)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this AgreementExcept as otherwise expressly provided for herein, the Second Junior Priority Representatives and the Second Junior Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrowers and any other Grantor in accordance with the terms of the Second Junior Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Junior Priority Representative or any Second Junior Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Junior Priority Representative or any Second Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement, or of any other action in contravention of this Agreement. In the event any Second Junior Priority Representative or any Second Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations and any DIP Financing (and all obligations relating thereto) on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Transfirst Holdings Corp.), Credit Agreement (Transfirst Holdings Corp.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary Except as provided in this AgreementSection 3.1(a)(i)(y), the Second Priority Representatives Agents and the Second Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or other collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subject to Section 2.3 and be subordinated to the Liens securing Senior Obligations Lender Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Lender Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Agents or the Senior Secured Parties Lenders may have with respect to the Senior Lender Collateral.

Appears in 2 contracts

Samples: Second Lien Intercreditor Agreement (Vici Properties Inc.), Credit Agreement (Vici Properties Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Junior Representatives and the Second Priority Junior Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Junior Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Junior Representative or any Second Priority Junior Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Junior Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Junior Representative or any Second Priority Junior Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement. In the event any Second Priority Junior Representative or any Second Priority Junior Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Junior Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Junior Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Intercreditor Agreement (Focus Financial Partners Inc.), Intercreditor Agreement (Focus Financial Partners Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to To the contrary extent not in contravention of any express provision of this Agreement, the Second Priority Representatives and the other Second Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors (including the ability to file any pleadings, objections, motions or agreements which assert rights or interests available to unsecured creditors of the Grantors arising under either Debtor Relief Laws, any Insolvency or Liquidation Proceeding or applicable non-bankruptcy law, in each case in accordance with the terms of this Agreement) against Holdings, the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do law. To the extent not violate in contravention of any express provision of this Agreement. Nothing , nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any other Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared Collateral; provided that the foregoing shall not limit the provisions of Section 6.03. In the event any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien Lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior Priority Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Priority Obligations under pursuant to this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the other Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

Appears in 2 contracts

Samples: Security Agreement (SolarWinds Corp), First Lien Credit Agreement (SolarWinds Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this AgreementExcept as otherwise expressly provided for herein, the Second Junior Priority Representatives and the Second Junior Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Junior Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Junior Priority Representative or any Second Junior Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Junior Priority Representative or any Second Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement, or of any other action in contravention of this Agreement. In the event that any Second Junior Priority Representative or any Second Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations and any DIP Financing (and all obligations relating thereto) on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated and junior to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Junior Lien Intercreditor Agreement (Vistra Energy Corp), Junior Lien Intercreditor Agreement (Energy Future Competitive Holdings Co LLC)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Agents and the Second Priority Debt Parties Lenders may exercise rights and remedies as an unsecured creditors creditor against the Company and Borrower or any other Grantor Subsidiary that has guaranteed the Second Priority Claims in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Party Lender of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Party Lender of rights or remedies as a secured creditor in respect of Shared Collateralthe applicable portion of the Common Collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Party Lender becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations First Priority Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations First Priority Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives ABL Agent or the Senior Secured Parties ABL Lenders may have with respect to the Senior ABL Facility First Priority Collateral, or any rights or remedies the Term Loan/Cash Flow Revolver Agent or the Term Loan/Cash Flow Revolver Lenders may have with respect to the Term/Cash Flow Revolver Facility First Priority Collateral.

Appears in 2 contracts

Samples: Abl Intercreditor Agreement (Quorum Health Corp), Credit Agreement (Quorum Health Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Agents and the Second Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or other collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations Lender Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Lender Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Agents or the Senior Secured Parties Lenders may have with respect to the Senior Lender Collateral.

Appears in 2 contracts

Samples: Second Lien Intercreditor Agreement (CAESARS ENTERTAINMENT Corp), Intercreditor Agreement (Harrahs Entertainment Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor or the Guarantors in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate violate, or are not otherwise inconsistent with, any express provision of this AgreementAgreement (including any provision prohibiting or restricting the Second Priority Representatives or the Second Priority Debt Parties from taking various actions or making various objections). Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral (including any right of setoff or recoupment). In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Lien Intercreditor Agreement (Sotera Health Topco, Inc.), Lien Intercreditor Agreement (Sotera Health Co)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary (i) Except as otherwise set forth in this Agreement, the Second Priority Representatives ABL Facility Collateral Agent and the Second Priority Debt ABL Facility Secured Parties may exercise rights and remedies as unsecured creditors against the Company and Borrower or any other Grantor in accordance with the terms of the Second Priority Debt ABL Facility Documents to which it is a party and applicable law so long as to the extent that the exercise of such rights and remedies do is not violate any express provision inconsistent with the terms of this Agreement. Nothing Except as otherwise set forth in this Agreement, nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the ABL Facility Collateral Agent or any Second Priority Debt Party ABL Facility Secured Parties of the required payments of principal, premium, interest, fees principal and other amounts due under in respect of the Second Priority Debt Documents ABL Facility Obligations so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative the ABL Facility Collateral Agent or any Second Priority Debt Party ABL Facility Secured Parties of rights or remedies as a secured creditor (including set-off) in respect of Shared Collateralthe Term Loan Priority Collateral in contravention of this Agreement or enforcement in contravention of this Agreement of any Lien held by any of them. In the event any Second Priority Representative the ABL Facility Collateral Agent or any Second Priority Debt other ABL Facility Secured Party becomes a judgment lien Lien creditor in respect of Shared Term Loan Priority Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien shall be subordinated to the Liens securing Senior Term Loan Obligations on the same basis as the other Liens on the Term Loan Priority Collateral securing the Second Priority Debt ABL Facility Obligations are so subordinated to such Liens securing Senior Term Loan Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Jill Intermediate LLC), Security Agreement (Jill Intermediate LLC)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company either Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this AgreementAgreement or any Senior Debt Document. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Trinseo S.A.), Security Agreement (Trinseo S.A.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate violate, or are not otherwise inconsistent with, any express other provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral and is not otherwise in violation of this Agreement. In the event any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien Lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior First Priority Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior First Priority Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior First Priority Representatives or the Senior First Priority Secured Parties may have with respect to the Senior First Priority Collateral.

Appears in 2 contracts

Samples: Intercreditor Agreement (Ocwen Financial Corp), Security Agreement (Ocwen Financial Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Priori ty Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral (provided that as between the Grantors and the Senior Secured Parties, the foregoing will not limit or otherwise affect the obligations of the Grantors contained in any Senior Debt Document and as between the Grantors and the Second Priority Debt Parties, the foregoing will not limit or otherwise affect the obligations of the Grantors contained in any Second Priority Debt Document). In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives Representative or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Lien Intercreditor Agreement (Callon Petroleum Co)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second The Junior Priority Representatives and the Second Junior Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrowers and any other Grantor in accordance with the terms of the Second Junior Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this AgreementAgreement (including any provision prohibiting or restricting the Junior Priority Debt Parties from taking various actions or making various objections). Nothing in this Agreement shall prohibit the receipt by any Second Junior Priority Representative or any Second Junior Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise in contravention of this Agreement by a Second Junior Priority Representative or any Second Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement. In the event any Second Junior Priority Representative or any Second Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Owens & Minor Inc/Va/)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this AgreementExcept as otherwise expressly provided for herein, the Second Junior Priority Representatives and the Second Junior Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Junior Priority Debt Documents and applicable law Applicable Law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Junior Priority Representative or any Second Junior Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Junior Priority Representative or any Second Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement, or of any other action in contravention of this Agreement. In the event that any Second Junior Priority Representative or any Second Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations and any DIP Financing (and all obligations relating thereto) on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated and junior to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Avaya Holdings Corp.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Agents and the Second Priority Debt Parties Lenders may exercise rights and remedies as an unsecured creditors creditor against the Company and Borrower or any other Grantor Subsidiary that has guaranteed the Second Priority Claims in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Party Lender of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Party Lender of rights or remedies as a secured creditor in respect of Shared Collateralthe applicable portion of the Common Collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Party Lender becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations First Priority Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations First Priority Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives ABL Agent or the Senior Secured Parties ABL Lenders may have with respect to the Senior ABL Facility First Priority Collateral, or any rights or remedies the Term Loan Agents or the Term Loan Lenders may have with respect to the Term Facility First Priority Collateral.

Appears in 1 contract

Samples: Abl Intercreditor Agreement (Revlon Inc /De/)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of or are not otherwise inconsistent with, the provisions this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Credit Agreement (Quintiles Transnational Holdings Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, (a) the Second Priority Representatives Public Trustee and the Second Priority Debt Parties Noteholders may exercise rights and remedies as unsecured creditors against Parent or any Subsidiary that has guaranteed the Company and any other Grantor Noteholder Claims in accordance with the terms of the Second Priority Debt Noteholder Documents and applicable law so long as such and (b) the other Second Lien Claimholders may exercise rights and remedies do not violate as unsecured creditors against Parent or any express provision Guarantor Subsidiary in accordance with the terms of this Agreementtheir Second Lien Credit Documents and applicable law. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the Public Trustee or any Second Priority Debt Party Lien Claimholders of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of the exercise by a the Second Priority Representative Lien Collateral Trustee or any Second Priority Debt Party Lien Claimholders of rights or remedies as a secured creditor (including set-off) or enforcement in respect contravention of Shared Collateralthis Agreement of any Lien held by any of them. In the event any Second Priority Representative the Public Trustee or any Second Priority Debt Party Lien Claimholders becomes a judgment lien creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien shall be subordinated to the Liens securing Senior First Lien Obligations on the same basis as the other Liens securing the Second Priority Debt Lien Obligations are so subordinated to such Liens securing Senior First Lien Obligations under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Claimholder Representative or the Senior Secured Parties First Lien Claimholders may have with respect to the Senior First Lien Collateral.. INTERCREDITOR AGREEMENT

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Sanmina-Sci Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives Agents and the Second Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and Borrower or any other Grantor in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative Agent or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or (b) enforcement in contravention of this Agreement of any Lien on Common Collateral in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations Lender Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Lender Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Agents or the Senior Secured Parties Lenders may have with respect to the Senior Lender Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (CAESARS ENTERTAINMENT Corp)

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Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.. SECTION 5.05

Appears in 1 contract

Samples: Second Lien Intercreditor Agreement

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Junior Bridge Notes Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and any other Grantor in accordance with the terms of the Second Priority Debt applicable Junior Bridge Notes Documents and applicable law so long law; provided that any assets, property, or consideration provided by the Company or its subsidiaries, including assets, property, or consideration distributed or issued in an Insolvency or Liquidation Proceeding (which, for the avoidance of doubt, shall include any equity interests distributed or issued by the Company or its subsidiaries as such rights and remedies do not violate reorganized in connection with any express provision of this Agreement. Nothing Insolvency or Liquidation Proceeding) shall be applied to the Senior Convertible Notes Claims in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateralaccordance with Section 4. In the event any Second Priority Representative or any Second Priority Debt Junior Bridge Notes Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationsits Junior Bridge Notes Claims, such judgment lien shall be subordinated to the Liens securing the Senior Obligations Convertible Notes Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Junior Bridge Notes Claims are so subordinated to such Liens securing the Senior Obligations Convertible Notes Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives or the Senior Secured Convertible Notes Parties may have with respect to the Senior Common Collateral.

Appears in 1 contract

Samples: Intercreditor and Subordination Agreement (Nuburu, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives Agents and the Second Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with or in violation of the other provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees fees, expenses, indemnities and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of (a) the exercise in contravention of this Agreement by a any Second Priority Representative Agent or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or other collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative Agent or any Second Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations Lender Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Lender Claims under this AgreementAgreement and shall otherwise be subject to the terms of this Agreement for all purposes to the same extent as all other Liens securing the Second Priority Claims subject hereto. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Agents or the Senior Secured Parties Lenders may have with respect to the Senior Lender Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (SeaWorld Entertainment, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate violate, or are not otherwise inconsistent with, any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Carvana Co.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Issuer and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do exercise is not violate inconsistent with any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority any Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared the Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Second Priority Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Interline Brands, Inc./De)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, each of the Second Priority Representatives Collateral Agent, the Trustee and the Second Priority Debt Parties other Indenture Holders may exercise rights and remedies as an unsecured creditors creditor against the Company and INMETCO or any other Grantor that has guaranteed the Indenture Obligations in accordance with the terms of the Second Priority Debt Indenture Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the Collateral Agent, the Trustee or any Second Priority Debt Party other Indenture Holders of the required payments of principalinterest, premium, interestif any, and principal on the Indenture Obligations and related fees and other amounts due under the Second Priority Debt Documents expenses so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative the Collateral Agent, the Trustee or any Second Priority Debt Party other Indenture Holder of rights or remedies as a secured creditor or enforcement in contravention of this Agreement of any Lien held by any of them in respect of Shared Collateralany INMETCO Collateral (or received or paid in respect of any INMETCO Collateral in the event of the occurrence of an Insolvency or Liquidation Proceeding with respect to a Grantor). In the event any Second Priority Representative the Collateral Agent, the Trustee or any Second Priority Debt Party other Indenture Holder becomes a judgment lien creditor in respect of Shared INMETCO Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien shall be subordinated to the Liens securing Senior Obligations INMETCO Facility Claims on the same basis as the other Liens securing the Second Priority Debt Indenture Obligations are so subordinated to such Liens securing Senior Obligations INMETCO Facility Claims under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives INMETCO Agent or the Senior Secured Parties INMETCO Facility Lenders may have with respect to the Senior INMETCO Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Horsehead Holding Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate violate, or are not otherwise inconsistent with, any express provision of this AgreementAgreement (including any provision prohibiting or restricting the Second Priority Debt Parties from taking various actions or making various objections). Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral. Apria, Inc. has requested confidential treatment of this registration statement and associated correspondence pursuant to Rule 83 of the Securities and Exchange Commission.

Appears in 1 contract

Samples: Credit Agreement (Apria, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority The Junior Representatives and the Second Priority Junior Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor in accordance with the terms of the Second Priority Junior Debt Documents and applicable law Law so long as such rights and remedies do not violate violate, or are not otherwise inconsistent with, any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Junior Representative or any Second Priority Junior Debt Party of the required payments of principal, premium, interest, fees fees, indemnities, expenses and other amounts due under the Second Priority Junior Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Junior Representative or any Second Priority Junior Debt Party of rights or remedies as a secured creditor in respect of Shared the Collateral. In the event any Second Priority Junior Representative or any Second Priority Junior Debt Party becomes a judgment lien Lien creditor in respect of Shared the Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Junior Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Junior Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives Priority Representative or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (EnVen Energy Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrowers and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate or are not otherwise inconsistent with any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Credit Agreement (GoDaddy Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company any Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral. National Vision Holdings, Inc. has requested confidential treatment of this registration statement and associated correspondence pursuant to Rule 83 of the Securities and Exchange Commission.

Appears in 1 contract

Samples: Intercreditor Agreement (National Vision Holdings, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything (i) Except as otherwise set forth in this Agreement and without limiting the benefits afforded to the contrary in this Agreementother Secured Parties hereunder, the Second Priority Representatives Term Loan Collateral Agent and the Second Priority Debt Term Loan Secured Parties may exercise rights and remedies as unsecured creditors against the Company and or any other Grantor in accordance with the terms of the Second Priority Debt Term Loan Documents to which it is a party and applicable law so long law. Except as such rights and remedies do not violate any express provision of otherwise set forth in this Agreement. Nothing , nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the Term Loan Collateral Agent or any Second Priority Debt Party Term Loan Secured Parties of the required payments of interest, principal, premium, interestpremiums, fees and other amounts due under in respect of the Second Priority Debt Documents Term Loan Obligations so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative the Term Loan Collateral Agent or any Second Priority Debt Party Term Loan Secured Parties of rights or remedies as a secured creditor (including set-off) in respect of Shared Collateralthe ABL Facility Priority Collateral in contravention of this Agreement or enforcement in contravention of this Agreement of any Lien on ABL Facility Priority Collateral held by any of them. In the event any Second Priority Representative the Term Loan Collateral Agent or any Second Priority Debt other Term Loan Secured Party becomes a judgment lien Lien creditor in respect of Shared ABL Facility Priority Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien Lien shall be subordinated to the Liens securing Senior ABL Facility Obligations on the same basis as the other Liens on the ABL Facility Priority Collateral securing the Second Priority Debt Term Loan Obligations are so subordinated to such Liens securing Senior ABL Facility Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Algoma Steel Group Inc.)

Rights as Unsecured Creditors. Notwithstanding anything To the extent not in contravention of any express provision of this Agreement, and subject to the contrary in this Agreementobligations of the Second Priority Representatives and Second Priority Secured Parties under Section 4.1, the Second Priority Representatives and the Second Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and Borrower or any other Grantor Subsidiary that has guaranteed the Second Priority Claims in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate inconsistent with the provisions of this Agreement. To the extent not in contravention of any express provision of this Agreement. Nothing , nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a any Second Priority Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or other collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Priority Claims held by any of them. In the event any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations Lender Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Lender Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the any Senior Representatives Representative or the Senior Secured Parties may have with respect to the Senior Lender Collateral.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Infrastructure & Energy Alternatives, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary Except as otherwise set forth in this Agreement, the Second Priority Representatives Term Loan Security Agent and the Second Priority Debt Term Loan Secured Parties may exercise rights and remedies as unsecured creditors against the Company and any Borrower or any other Grantor in accordance with the terms of the Second Priority Debt Term Loan Documents to which it is a party and applicable law so long law. Except as such rights and remedies do not violate any express provision of otherwise set forth in this Agreement. Nothing , nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the Term Loan Security Agent or any Second Priority Debt Term Loan Secured Party of the required payments of principal, premium, interest, fees principal and other amounts due under in respect of the Second Priority Debt Documents Term Loan Obligations so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative the Term Loan Security Agent or any Second Priority Debt Term Loan Secured Party of rights or remedies as a secured creditor (including set off) in respect of Shared Collateralthe ABL Facility First Lien Collateral in contravention of this Agreement or enforcement in contravention of this Agreement of any Lien held by any of them. In the event any Second Priority Representative the Term Loan Security Agent or any Second Priority Debt other Term Loan Secured Party becomes a judgment lien creditor in respect of Shared any ABL Facility First Lien Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien shall be subordinated to the Liens securing Senior ABL Facility Obligations on the same basis as the other Liens on the ABL Facility First Lien Collateral securing the Second Priority Debt Term Loan Obligations are so subordinated to such Liens securing Senior ABL Facility Obligations under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives ABL Facility Security Agent or the Senior other ABL Facility Secured Parties may have with respect to the Senior ABL Facility First Lien Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Party City Holdco Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors against Holdings, the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law Law so long as such rights and remedies do exercise is not violate inconsistent with any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien Lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior Priority Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Priority Obligations under pursuant to this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

Appears in 1 contract

Samples: First Lien (GMS Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority The Junior Representatives and the Second Junior Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor or the Guarantors in accordance with the terms of the Second Junior Priority Debt Documents and applicable law so long as such rights and remedies do not violate or are otherwise inconsistent with any express provision of this AgreementAgreement (it being understood that any express provision of this Agreement that requires any party hereto to act or to refrain from acting shall be applicable to such party in its respective capacities as a secured creditor and as an unsecured creditor). Nothing in this Agreement shall prohibit the receipt by any Second Priority Junior Representative or any Second Junior Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Junior Representative or any Second Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Junior Representative or any Second Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Designated Senior Representatives Representatives, the other Senior Representative or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Junior Intercreditor Agreement (MARRIOTT VACATIONS WORLDWIDE Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with with, are not inconsistent with, and the terms of the Second Priority Debt Documents and applicable law law, so long as such rights and remedies are not consistent with, and do not violate any express provision provision, of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien Lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

Appears in 1 contract

Samples: Term Credit Agreement (Fossil Group, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second The Junior Priority Representatives and the Second Junior Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Issuers and any other Grantor in accordance with the terms of the Second Junior Priority Debt Documents and applicable law so long as such rights and remedies do not violate violate, or are not otherwise inconsistent with, any express provision of this AgreementAgreement (including any provision prohibiting or restricting the Junior Priority Debt Parties from taking various actions or making various objections). Nothing in this Agreement shall prohibit the receipt by any Second Junior Priority Representative or any Second Junior Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Junior Priority Representative or any Second Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement. In the event any Second Junior Priority Representative or any Second Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Junior Lien Intercreditor Agreement (Diamond Offshore Drilling, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien Lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

Appears in 1 contract

Samples: Junior Priority Intercreditor Agreement (Mens Wearhouse Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company any Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law Law so long as such rights and remedies do not violate or are not otherwise inconsistent with any express other provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Indenture (Maxar Technologies Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary Except as otherwise expressly set forth in this Agreement, the Second Priority Representatives Junior Lien Collateral Agent and the Second Priority Debt Junior Lien Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor Subsidiary that has guaranteed the Junior Lien Obligations in accordance with the terms of the Second Priority Debt applicable Junior Lien Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative the Junior Lien Collateral Agent or any Second Priority Debt Junior Lien Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of the exercise by a Second Priority the Junior Lien Collateral Agent, any Junior Lien Representative or any Second Priority Debt Junior Lien Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral or other collateral or enforcement in contravention of this Agreement of any Lien in respect of Junior Lien Obligations held by any of them or in any Insolvency or Liquidation Proceeding. In the event the Junior Lien Collateral Agent, any Second Priority Junior Lien Representative or any Second Priority Debt Junior Lien Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Collateral, First Lien Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsJunior Lien Obligations or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior First Lien Obligations on the same basis as the other Liens securing the Second Priority Debt Junior Lien Obligations are so subordinated to such the First Priority Liens securing Senior First Lien Obligations under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Collateral Agents or the Senior First Lien Secured Parties may have with respect to the Senior First Lien Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Reddy Ice Holdings Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second The Junior Priority Representatives and the Second other Junior Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Junior Priority Debt Documents and applicable law so long as such rights and remedies do not violate or are not otherwise inconsistent with any express other provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Junior Priority Representative or any Second Junior Priority Debt Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Junior Priority Representative or any Second Junior Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Junior Priority Representative or any Second Junior Priority Debt Secured Party becomes a judgment lien Lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior Priority Obligations on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated to such Liens securing Senior Priority Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the other Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

Appears in 1 contract

Samples: Junior Priority Intercreditor Agreement (SunOpta Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Junior Representatives and the Second Junior Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor or the Guarantors in accordance with the terms of the Second Junior Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Junior Representative or any Second Junior Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Junior Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Junior Representative or any Second Junior Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Junior Representative or any Second Junior Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Junior Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Junior Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Junior Intercreditor Agreement (Chart Industries Inc)

Rights as Unsecured Creditors. (a) Notwithstanding anything to the contrary in this Agreement, each of the Second Priority Representatives Agent and the Second Priority Debt Parties Lenders may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor Subsidiary that has guaranteed the Second Priority Claims in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any the Second Priority Representative Agent or any Second Priority Debt Party Lenders of the required payments of principalinterest, premium, interestif any, fees and other amounts due under principal on the Second Priority Debt Documents Claims and related fees and expenses so long as such receipt is not the direct or indirect result of the exercise by a the Second Priority Representative Agent or any Second Priority Debt Party Lender of rights or remedies as a secured creditor or enforcement in contravention of this Agreement of any Lien held by any of them in respect of Shared Collateralany First Priority Collateral (or received or paid in respect of any First Priority Collateral in the event of the occurrence of an Insolvency or Liquidation Proceeding with respect to a Grantor). In the event any the Second Priority Representative Agent or any Second Priority Debt Party Lender becomes a judgment lien creditor in respect of Shared First Priority Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien shall be subordinated to the Liens securing Senior Obligations First Priority Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations First Priority Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Priority Agent or the Senior Secured Parties First Priority Lenders may have with respect to the Senior First Priority Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Broadview Networks Holdings Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors against Holdings, the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do exercise is not violate inconsistent with any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority any Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared the Collateral. In the event any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien Lien creditor in respect of Shared Second Priority Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior Priority Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Priority Obligations under pursuant to this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

Appears in 1 contract

Samples: Term Intercreditor Agreement (GMS Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second The Second-Priority Representatives and the Second Second-Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor Subsidiary of the Company that has guaranteed the Second-Priority Obligations in accordance with the terms of the Second applicable Second-Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with or prohibited by the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Second-Priority Representative or any Second Second-Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under principal in respect of the Second Second-Priority Debt Documents Obligations so long as such receipt is not the direct or indirect result of the exercise by a Second any Second-Priority Representative or any Second Second-Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or enforcement in contravention of this Agreement of any Lien in respect of Second-Priority Obligations held by any of them. In the event any Second Second-Priority Representative or any Second Second-Priority Debt Secured Party becomes a judgment lien creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Second-Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior First-Priority Obligations on the same basis as the other Liens securing the Second Second-Priority Debt Obligations are so subordinated to such Liens securing Senior First-Priority Obligations under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First-Priority Collateral Agent or the Senior First-Priority Secured Parties may have with respect to the Senior First-Priority Collateral.

Appears in 1 contract

Samples: Joinder Agreement (Cec Entertainment Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate (or are not otherwise prohibited by) any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any ANNEX III- 19 55745340_4 Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Agreement and Security Agreement (Bloomin' Brands, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, during an Event of Default (as defined under the Second Priority Representatives Debt Documents), the Second Priority Representative and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law (other than initiating or joining any involuntary case or proceeding under the Bankruptcy Code not initiated by the Senior Representative) so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Sundance Energy Australia LTD)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this AgreementExcept as otherwise expressly provided herein, the Second Second-Priority Representatives and the Second Second-Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and Companies or any other Grantor Subsidiary of Holdings that has guaranteed the Second-Priority Obligations in accordance with the terms of the Second applicable Second-Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any Second Second-Priority Representative or any Second Second-Priority Debt Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under principal in respect of the Second Second-Priority Debt Documents Obligations so long as such receipt is not the direct or indirect result of the exercise by a Second any Second-Priority Representative or any Second Second-Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or enforcement in contravention of this Agreement of any Lien in respect of Second-Priority Obligations held by any of them. In the event any Second Second-Priority Representative or any Second Second-Priority Debt Secured Party becomes a judgment lien creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Second-Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior First-Priority Obligations on the same basis as the other Liens securing the Second Second-Priority Debt Obligations are so subordinated to such Liens securing Senior First-Priority Obligations under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First-Priority Collateral Agents or the Senior First-Priority Secured Parties may have with respect to the Senior First-Priority Collateral.

Appears in 1 contract

Samples: Joinder Agreement (Presidio, Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Secured Parties may exercise rights and remedies as unsecured creditors against Holdings, the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Secured Party becomes a judgment lien Lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien Lien shall be subordinated to the Liens securing Senior Priority Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Priority Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Priority Representatives or the Senior Priority Secured Parties may have with respect to the Senior Priority Collateral.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (EWT Holdings I Corp.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt The First Lien Secured Parties may exercise rights and remedies as unsecured creditors against any Credit Party in accordance with the Company terms of the First Lien Debt Documents and applicable law; provided that the First Lien Secured Parties will not exercise such rights and remedies in a manner inconsistent with this Agreement. The Second Lien Collateral Agent and each Second Lien Representative, on behalf of itself and all applicable Second Lien Secured Parties, each may exercise rights and remedies as unsecured creditors against any other Grantor Credit Party in accordance with the terms of the Second Priority Lien Debt Documents and applicable law so long as law; provided that the Second Lien Collateral Agent and each Second Lien Representative, on behalf of itself and all applicable Second Lien Parties, will not exercise such rights and remedies do not violate any express provision of in a manner inconsistent with this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt First Lien Secured Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority First Lien Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralDocuments. In the event any Second Priority Representative or any Second Priority Debt Lien Secured Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Lien Obligations, such judgment lien shall be subordinated to the Liens securing Senior First Lien Priority Obligations on the same basis as the other Liens securing the Second Priority Debt Lien Obligations are so subordinated to such Liens securing Senior First Lien Priority Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior First Lien Secured Parties may have with respect to the Senior First Lien Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Stone Energy Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.the

Appears in 1 contract

Samples: Assignment and Assumption (Liberty Global PLC)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Lien Agent and the Second Priority Debt Lien Secured Parties may exercise rights and remedies as an unsecured creditors creditor against SSC or any Subsidiary that has guaranteed the Company and any other Grantor Second Lien Claims in accordance with the terms of the applicable Second Priority Debt Lien Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision inconsistent with the provisions of this Agreement. Nothing in this Agreement shall prohibit the receipt by any the Second Priority Representative Lien Agent or any Second Priority Debt Lien Secured Party of the required payments of principal, premium, interest, fees interest and other amounts due under the Second Priority Debt Documents principal so long as such receipt is not the direct or indirect result of (a) the exercise by a the Second Priority Representative Lien Agent or any Second Priority Debt Lien Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or other collateral or (b) enforcement in contravention of this Agreement of any Lien in respect of Second Lien Claims held by any of them. In the event any the Second Priority Representative Lien Agent or any Second Priority Debt Lien Secured Party becomes a judgment lien creditor or other secured creditor, in each case, in respect of Shared Common Collateral or other collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsLien Claims or otherwise, such judgment or other lien shall be subordinated to the Liens securing Senior Obligations First Lien Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Lien Claims are so subordinated to such Liens securing Senior Obligations First Lien Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Agent or the Senior Secured Parties First Lien Lenders may have with respect to the Senior First Lien Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Mariner, LLC)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, each of the Second Priority Representatives Lien Agent and the Second Priority Debt Parties Lenders may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor Subsidiary that has guaranteed the Second Priority Obligations in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any the Second Priority Representative Lien Agent or any Second Priority Debt Party Lenders of the required payments of principalinterest, premium, interestif any, fees and other amounts due under principal on the Second Priority Debt Documents Claims and related fees and expenses so long as such receipt is not the direct or indirect result of the exercise by a the Second Priority Representative Lien Agent or any Second Priority Debt Party Lender of rights or remedies as a secured creditor or enforcement in contravention of this Agreement of any Lien held by any of them in respect of Shared Collateralany Common Collateral (or received or paid in respect of any Common Collateral in the event of the occurrence of an Insolvency or Liquidation Proceeding with respect to a Grantor). In the event any the Second Priority Representative Lien Agent or any Second Priority Debt Party Lender becomes a judgment lien creditor in respect of Shared any Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien shall be subordinated to the Liens securing Senior Obligations First Priority Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations First Priority Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Lien Agent or the Senior Secured Parties First Priority Lenders may have with respect to the Senior First Priority Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (McLeodusa Inc)

Rights as Unsecured Creditors. (a) Notwithstanding anything to the contrary in this Agreement, each of the Second Priority Representatives Agent and the Second Priority Debt Parties Lenders may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor Subsidiary that has guaranteed the Second Priority Obligations in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this Agreementlaw. Nothing in this Agreement shall prohibit the receipt by any the Second Priority Representative Agent or any Second Priority Debt Party Lenders of the required payments of principalinterest, premium, interestif any, fees and other amounts due under principal on the Second Priority Debt Documents Claims and related fees and expenses so long as such receipt is not the direct or indirect result of the exercise by a the Second Priority Representative Agent or any Second Priority Debt Party Lender of rights or remedies as a secured creditor or enforcement in contravention of this Agreement of any Lien held by any of them in respect of Shared Collateralany First Priority Collateral (or received or paid in respect of any First Priority Collateral in the event of the occurrence of an Insolvency or Liquidation Proceeding with respect to a Grantor). In the event any the Second Priority Representative Agent or any Second Priority Debt Party Lender becomes a judgment lien creditor in respect of Shared First Priority Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien shall be subordinated to the Liens securing Senior Obligations First Priority Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations First Priority Claims under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior Representatives First Priority Agent or the Senior Secured Parties First Priority Lenders may have with respect to the Senior First Priority Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Broadview Networks Holdings Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the The Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company any Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law so long as such rights and remedies do not violate any express provision of this AgreementAgreement which is binding on the Second Priority Debt Parties, including, without limitation, Sections 2.03, 2.04, 3.01, 3.02 and Article VI hereof. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt (i) is not the direct or indirect result of the exercise in contravention of this Agreement by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared Collateral or (ii) whether in contravention of this Agreement or not, does not have the effect of discharging the Lien of any Senior Representative or First Lien Collateral Agent on such Shared Collateral. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Cloud Peak Energy Inc.)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives Agents and the Second Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and Borrowers or any other Grantor in accordance with the terms of the applicable Second Priority Debt Documents and applicable law so long as such rights and remedies do law, in each case to the extent not violate any express provision in contravention of the provisions of this Agreement. Nothing Except as specifically set forth in Sections 3.1, nothing in this Agreement shall prohibit the receipt by any Second Priority Representative Agent or any Second Priority Debt Secured Party of the required payments of interest, principal, premiumthe Applicable Prepayment Premium and other premiums, interestfees, fees expenses and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the (a) any exercise by a any Second Priority Representative Agent or any Second Priority Debt Secured Party of rights rights, powers or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or (b) enforcement of any Lien in respect of Second Priority Claims held by any of them or any other action or failure to take any action in contravention of this Agreement. In the event any Second Priority Representative Agent or any Second Priority Debt Secured Party becomes a judgment lien creditor or other secured creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt ObligationsClaims or otherwise, such judgment or other lien shall be deemed a Second Priority Lien hereunder and be subordinated to the Liens securing Senior Obligations Claims on the same basis as the other Liens securing the Second Priority Debt Obligations Claims are so subordinated to such Liens securing Senior Obligations Claims under this Agreement. Nothing Except as specifically set forth in this Agreement, nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights rights, powers or remedies the (x) any Senior Representatives Agent or the Senior Secured Parties may have with respect to the Senior Collateral or (y) any Second Priority Agent or the Second Priority Secured Parties may have with respect to the Second Priority Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Ch2m Hill Companies LTD)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second The Second-Priority Representatives and the Second Second-Priority Debt Secured Parties may exercise rights and remedies as an unsecured creditors creditor against the Company and or any other Grantor Subsidiary of the Company that has guaranteed the Second-Priority Obligations in accordance with the terms of the Second applicable Second-Priority Debt Documents and applicable law law, so long as such rights and remedies do not violate any (or are otherwise not inconsistent with) an express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Second-Priority Representative or any Second Second-Priority Debt Secured Party of the required payments of interest, principal, premiumfees, interestexpenses, fees and indemnities or other amounts due payable under the Second any Second-Priority Debt Documents Document so long as such receipt is not the direct or indirect result of the exercise by a Second any Second-Priority Representative or any Second Second-Priority Debt Secured Party of rights or remedies as a secured creditor in respect of Shared CollateralCommon Collateral or enforcement in contravention of this Agreement of any Lien in respect of Second-Priority Obligations held by any of them. In the event any Second Second-Priority Representative or any Second Second-Priority Debt Secured Party becomes a judgment lien creditor in respect of Shared Common Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Second-Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior First-Priority Obligations on the same basis as the other Liens securing the Second Second-Priority Debt Obligations are so subordinated to such Liens securing Senior First-Priority Obligations under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies the Senior First-Priority Representatives or the Senior First-Priority Secured Parties may have with respect to the Senior First-Priority Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Casa Systems Inc)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary in this Agreement, the Second Priority Representatives and the Second Priority Debt Parties may exercise rights and remedies as unsecured creditors against the Company Borrower and any other Grantor in accordance with the terms of the Second Priority Debt Documents and applicable law Applicable Law so long as such rights and remedies do not violate any express provision of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralCollateral in contravention of this Agreement. In the event any Second Priority Representative or any Second Priority Debt Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligations, such judgment lien shall be subordinated to the Liens securing Senior Obligations on the same basis as the other Liens securing the Second Priority Debt Obligations are so subordinated to such Liens securing Senior Obligations under this Agreement. Nothing in this Agreement shall impair or otherwise adversely affect any rights or remedies the Senior Representatives or the Senior Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Credit Agreement (SemGroup Corp)

Rights as Unsecured Creditors. Notwithstanding anything to the contrary Except as otherwise expressly set forth in this Agreement, the Second Priority Representatives Lien Notes Trustee and the Second Priority Debt Lien Notes Secured Parties may exercise rights and remedies as unsecured creditors against the Company and any other Grantor Second Lien Notes Credit Party in accordance with the terms of the Second Priority Debt Lien Notes Documents and applicable law so long as to the extent such action is not inconsistent with, or could not result in a distribution of Collateral or the proceeds therefrom or any other amounts or any other resolution inconsistent with, the terms of this Agreement. Any proceeds received by the Second Lien Notes Trustee and the Second Lien Notes Secured Parties from the exercise of such rights and remedies do not violate any express provision as unsecured creditors or otherwise shall be turned over to the First Lien Agent in accordance with Section 6.5 until the Discharge of this Agreement. Nothing in this Agreement shall prohibit the receipt by any Second Priority Representative or any Second Priority Debt Party of the required payments of principal, premium, interest, fees and other amounts due under the Second Priority Debt Documents so long as such receipt is not the direct or indirect result of the exercise by a Second Priority Representative or any Second Priority Debt Party of rights or remedies as a secured creditor in respect of Shared CollateralFirst Lien Obligations has occurred. In the event any the Second Priority Representative Lien Notes Trustee or any Second Priority Debt Lien Notes Secured Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of Second Priority Debt Obligationscreditor, such judgment lien shall be subordinated to the Liens securing Senior First Lien Obligations on the same basis as the other Liens securing the Second Priority Debt Lien Notes Obligations are so subordinated to such Liens securing Senior First Lien Obligations under this Agreement. Nothing in this Agreement shall impair impairs or otherwise adversely affect affects any rights or remedies that the Senior Representatives First Lien Agent or the Senior other First Lien Secured Parties may have with respect to the Senior Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Iconix Brand Group, Inc.)

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