Common use of Second Lien Collateral Clause in Contracts

Second Lien Collateral. In the event that the Parent or any Restricted Subsidiary grants a Lien on any Property to secure any Second Lien Obligations that is not already subject to the terms of any then-existing Security Instrument, the Parent and the Borrower will, and will cause any such Restricted Subsidiary to, also grant to the Administrative Agent to secure the Indebtedness, a first-priority Lien on the same Property pursuant to the Security Instruments in form and substance reasonably satisfactory to the Administrative Agent. The Parent and the Borrower will cause any Subsidiary and any other Person guaranteeing any Second Lien Obligations that is not already a Guarantor to contemporaneously guarantee the Indebtedness pursuant to the Guaranty and Security Agreement.