First Lien Agent definition
Examples of First Lien Agent in a sentence
The original Grantors will cause each Subsidiary of any Borrower that becomes a Grantor after the date hereof to contemporaneously become a party hereto (as a Guarantor Subsidiary) by executing and delivering a joinder agreement (in form and substance satisfactory to the Applicable Agent) to each First Lien Agent.
The foregoing shall not be construed to limit the rights and priorities of any First Lien Claimholder or First Lien Agent with respect to any Collateral not constituting Shared Collateral.
If any First Lien Agent resigns or is replaced pursuant to the First Lien Credit Agreement of the Series for which it is acting, as applicable, its successor will be a party to this Agreement with all the rights, and subject to all the obligations, of this Agreement.
Actions taken by any First Lien Agent pursuant to this Agreement are meant to be taken on behalf of itself and the other First Lien Claimholders of the Series for which it is acting.
This Agreement is binding upon and inures to the benefit of each First Lien Agent, each other First Lien Claimholder, and their respective successors and assigns.