Pari Intercreditor Agreement definition

Pari Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit A-3 (with such changes to such form as may be reasonably acceptable to the Administrative Agent and the Borrower) among the Administrative Agent, the Collateral Agent, the Credit Parties and the representatives for purposes thereof for holders of one or more classes of Indebtedness.

Pari Intercreditor Agreement means a Pari Passu Lien Intercreditor Agreement by and among the Administrative Agent, one or more collateral agents for the holders of Indebtedness secured by Liens ranking pari passu with the Obligations and the other parties thereto from time to time, in form and substance reasonably acceptable to the Administrative Agent.

Pari Intercreditor Agreement means that certain Pari Passu Intercreditor Agreement, dated as of July 30, 2020, by and between Ankura Trust Company, LLC, as collateral trustee, Deutsche Bank AG New York Branch, as term loan agent, the Collateral Trustee, as additional collateral agent and additional authorized representative (pursuant to Joinder No. 1 to Pari Passu Intercreditor Agreement, dated as of the Issue Date), and, from time to time, any other representative or agent of each class of the secured parties party thereto, and each of the Issuer and the Guarantors from time to time party thereto, as such agreement may be amended, restated, amended and restated, supplemented or otherwise modified from time to time in accordance therewith and with the terms of this Indenture.

Examples of Pari Intercreditor Agreement in a sentence

• The Additional Grantor wishes to become a party to the Pari Intercreditor Agreement and to acquire and undertake the rights and obligations of a Grantor thereunder.

• In the event of any conflict or inconsistency between the provisions of each intercreditor agreement (including the ABL/Term Loan Intercreditor Agreement, the Junior Lien Intercreditor Agreement and the Pari Intercreditor Agreement) and this Agreement, the provisions of such intercreditor agreement shall control.

• Nothing in this Agreement shall be deemed to modify the rights, remedies and obligations as between any Term Agents as set forth in any Pari Intercreditor Agreement or any Junior Lien Intercreditor Agreement (each, as defined in the Term Credit Agreement).

• By: Name: Title: THE OTHER GRANTORS LISTED ON SCHEDULE I HERETO By: Name: Title: Schedule I to the Supplement to the Pari Intercreditor Agreement Grantors [ ] ANNEX III [FORM OF] GRANTOR JOINDER AGREEMENT NO.

• In the event of any conflict or inconsistency between the provisions of each intercreditor agreement (including the Second Lien Pari Intercreditor Agreement and the Second Lien Intercreditor Agreement) and this Agreement, the provisions of such intercreditor agreement shall control in all respects.

More Definitions of Pari Intercreditor Agreement

Pari Intercreditor Agreement has the meaning assigned to such term in the Credit Agreement.

Pari Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit V with such changes that are reasonably acceptable to the Administrative Agent and the Borrower.

Pari Intercreditor Agreement means that certain Intercreditor and Collateral Agency Agreement, dated as of the Closing Date, by and among the Administrative Agent, the collateral agent for the Secured Notes and the other parties thereto from time to time, substantially in the form of Exhibit F.

Pari Intercreditor Agreement means an intercreditor agreement which shares the Lien on the Collateral of the holders of the Pari Passu Lien Indebtedness on a pari passu basis and the terms of which are consistent with market terms (in the view of the Collateral Trustee (as defined therein)) governing security arrangements for the sharing of Liens on a pari passu basis or arrangements relating to the distribution of payments, as applicable, at the time the intercreditor agreement is proposed to be established in light of the type of Indebtedness subject thereto.

Pari Intercreditor Agreement means (a) in the case of Liens securing Senior Obligations, an intercreditor agreement between the Administrative Agent and any other Senior Debt Representative or Representatives and (b) in the case of Liens securing Second Priority Debt Obligations, an intercreditor agreement between the applicable Second Priority Representative and any other Second Priority Representative or Representatives, providing for the pari passu treatment of such Liens and in each case in form and substance reasonably satisfactory to the Representatives.

Pari Intercreditor Agreement means any of (i) an intercreditor agreement substantially in the form of Exhibit A-2, duly completed pursuant to the terms thereof with such additional changes as may be reasonably acceptable to the Administrative Agent and the Borrower or (ii) a customary intercreditor agreement in form and substance reasonably acceptable to the Administrative Agent and the Borrower, which agreement, in each case of clauses (i) and (ii), shall provide that the Liens on the Collateral securing such Indebtedness shall be equal in priority to the Liens on the Collateral securing the First Lien Obligations under this Agreement, in each case with such modifications thereto as the Administrative Agent and the Borrower may agree.

Pari Intercreditor Agreement shall have the meaning assigned to such term in the Indenture.