Common use of Second Term Loan Clause in Contracts

Second Term Loan. On the Closing Date, the Agent and each Lender consents to the extension of the Second Term Loan by the Second Term Lenders in accordance with the terms of the Credit Agreement, as amended by this Amendment. The Agent and each Lender acknowledge that the Second Term Loan shall be secured by an interest in the Collateral PARI PASSU and pro rata with the Existing Term Loan and the term "Secured Obligations" as used in the Postpetition Collateral Agency Agreement shall include the obligations of the Borrowers under the Credit Agreement with respect to the Second Term Loan. The obligations of the Borrowers under the Credit Agreement with respect to the Second Term Loan will be secured by the Collateral without having to amend the Collateral Documents. The Agent and each Lender agree that at any time and from time to time, at the cost and expense of the Borrowers, they will execute and deliver all further instruments and documents, and take such further actions, that may be reasonably necessary to so secure the Second Term Loan.