Second Priority Indenture Trustee definition
Examples of Second Priority Indenture Trustee in a sentence
In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control as between the First Priority Collateral Trustee, the First Priority Indenture Trustee and any other First Priority Claimholders and the Second Priority Collateral Trustee, the Second Priority Indenture Trustee and any other Second Priority Claimholders.
In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control as between the First Priority Collateral Trustee, the First Priority Indenture Trustee, the Second Priority Collateral Trustee, the Second Priority Indenture Trustee, and any other Second Priority Holders (as such terms are defined in the Intercreditor Agrement).
Without limiting the foregoing, neither the Second Priority Collateral Trustee, the Second Priority Indenture Trustee nor the other Second Priority Claimholders shall have any right, privilege or power to direct the First Priority Collateral Trustee, the First Priority Indenture Trustee or other First Priority Claimholders to exercise any rights, privileges, powers, or remedies with respect to the Collateral.
The Common Representative shall not be liable with respect to any action taken by it, or omitted to be taken by it, in accordance with the direction of the First Priority Indenture Trustee, the Second Priority Indenture Trustee, or the Beneficial Owners of the Second Priority Securities to the extent such direction is expressly permitted or required in Article 4 hereof.
In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control as between the First Priority Collateral Trustee, the First Priority Indenture Trustee, the Second Priority Collateral Trustee, the Second Priority Indenture Trustee, and any other Second Priority Holders (as such term is defined in the Intercreditor Agrement).
If the Company, the Second Priority Indenture Trustee or the Second Priority Collateral Trustee shall not have executed and delivered any such deed, conveyance or other instrument within ten (10) calendar days after it received a written request from the successor Common Representative to do so, the predecessor Common Representative may execute the same on behalf of the Second Priority Indenture Trustee or the Second Priority Collateral Trustee, as applicable.
This Agreement and the rights, privileges, powers and benefits hereof shall inure to the benefit of, and be binding upon, each of the parties hereto and its respective successors and assigns and shall inure to the benefit of, and be binding upon, each of the First Priority Collateral Trustee, the First Priority Indenture Trustee, the other First Priority Claimholders, the Second Priority Collateral Trustee, the Second Priority Indenture Trustee and the other Second Priority Claimholders.
Each of the Second Priority Indenture Trustee and the Second Priority Collateral Trustee, each on behalf of itself and the other Second Priority Holders, hereby waive any right, privilege or power it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement.
Each of the Second Priority Indenture Trustee and the Second Priority Collateral Trustee, each on behalf of itself and the other Second Priority Claimholders, agrees to promptly pay over to the First Priority Collateral Trustee all amounts received to the extent that such payments would have been prohibited hereunder if such First Priority Obligations had not been paid to the First Priority Claimholder.
Each of the Second Priority Indenture Trustee and the Second Priority Collateral Trustee, (each on behalf of itself and the other Second Priority Claimholders) and the First Priority Indenture Trustee and the First Priority Collateral Trustee (each on behalf of itself and the other First Priority Claimholders), hereby waive any right, privilege or power it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement.