Examples of Bank Secured Parties in a sentence
Nothing contained in this Agreement is intended to affect or limit, in any way whatsoever, the Liens and other rights that the Note Secured Parties and the Bank Secured Parties have under the Note Security Agreement, the Bank Security Agreements and the other Secured Debt Documents to which they are a party insofar as the rights of the Company, any other Grantor or any other Person or entity are involved.
No Guarantor will assert any right, claim or cause of action, including, without limitation, a claim of subrogation, contribution or indemnification that it has against any Obligated Party (including against any Guarantor that is released from its obligations hereunder pursuant to Section 10.12), or any Collateral, until the Loan Parties have fully performed all their obligations to the Agents, the Issuing Banks and the Bank Secured Parties and the other Secured Parties.
This Section with respect to the Maximum Liability of each Guarantor is intended solely to preserve the rights of the Bank Secured Parties to the maximum extent not subject to avoidance under applicable law, and no Guarantor nor any other Person or entity shall have any right or claim under this Section with respect to such Maximum Liability, except to the extent necessary so that the obligations of any Guarantor hereunder shall not be rendered voidable under applicable law.
This Agreement is intended solely for the purpose of defining the relative rights of the Note Collateral Agent and the Note Secured Parties, on the one hand, and the Bank Administrative Agent and the Bank Secured Parties, on the other hand, in respect of (i) the subordination of the Bank Second Priority Lien to the Note First Priority Lien and (ii) the subordination of the Note Second Priority Lien to the Bank First Priority Lien.
Each Guarantor hereby agrees that it is jointly and severally liable for, as primary obligor and not merely as surety, and absolutely and unconditionally guarantees to the Bank Secured Parties the prompt payment when due, whether at stated maturity, upon acceleration after notice of prepayment or otherwise, and at all times thereafter, of the Bank Obligations.