Second Lien Agents definition
Examples of Second Lien Agents in a sentence
Each of the First Lien Agent and the Second Lien Agents may demand specific performance of this Agreement.
The First Lien Agent and the First Lien Creditors shall have no duty to the Second Lien Agents or any of the Second Lien Creditors to act or refrain from acting in a manner which allows, or results in, the occurrence or continuance of an event of default or default under any agreements of any Credit Party (including the First Lien Documents and the Second Lien Documents), regardless of any knowledge thereof which they may have or be charged with.
The Second Lien Agents, on their own behalf or on behalf of any such Second Lien Creditors, promptly shall execute and deliver to the First Lien Agent or the applicable Credit Party such termination statements, releases and other documents as the First Lien Agent or the Borrowers may request to effectively confirm such release.
If in order to carry out the provisions of this Section 5.1 a special power of attorney is required according to applicable law, the Second Lien Creditors and/or the Second Lien Agents, as the case may be, hereby agree to grant an irrevocable power of attorney to the First Lien Agent, using the form provided by the First Lien Agent.
The subordination of Liens by the Second Lien Agent in favor of the First Lien Agent, the First Lien Co-Agent and the First Lien Lenders shall not be deemed to subordinate the Second Lien Agent's Liens to the Liens of any other Person that is not a holder of First Lien Indebtedness.