Initial Intercreditor Agreement definition
Examples of Initial Intercreditor Agreement in a sentence
Borrower and each of Borrower’s undersigned Subsidiaries each further acknowledge and agree that they are not an intended beneficiary or third party beneficiary under the Initial Intercreditor Agreement, as amended, restated, supplemented, or otherwise modified hereafter.
In the event of any conflict between the terms of the Initial Intercreditor Agreement and this Copyright Security Agreement, the terms of the Initial Intercreditor Agreement shall govern and control.
Notwithstanding anything herein to the contrary, the Liens and Security Interests granted to the Collateral Agent pursuant to this Trademark Security Agreement in any Collateral and the exercise of any right or remedy by the Collateral Agent with respect to any Collateral hereunder are subject to the provisions of the Initial Intercreditor Agreement.
The foregoing provisions are intended as an inducement to the Secured Parties to extend credit to the Borrower, and the Secured Parties are intended third-party beneficiaries of such provisions and the provisions of the Initial Intercreditor Agreement, any Acceptable Intercreditor Agreement and/or any other Additional Agreement.
Notwithstanding anything herein to the contrary, the Liens and security interests granted to the Collateral Agent, for the benefit of the Secured Parties pursuant to this Agreement, and the exercise of any right or remedy by the Collateral Agent and the other Secured Parties hereunder, in each case, with respect to the Collateral and Liens securing any ABL Claims or Term Debt Claims are subject to the provisions of the Initial Intercreditor Agreement.