Examples of Subordinated Lien Agent in a sentence
And also that from and after default shall happen assurances of the land as may be requisite.
Each Prior Lien Agent with respect to any Collateral is hereby authorized by the Subordinated Lien Agents and the Subordinated Lien Claimholders with respect to such Collateral to make any such endorsements as agent for any Subordinated Lien Agent or any Subordinated Lien Claimholder.
If any Subordinated Lien Agent or any Subordinated Lien Claimholders shall, at any time, receive any Proceeds of any such insurance policy or any such award or payment with respect to ABL Priority Collateral in contravention of this Agreement, it shall segregate and hold in trust and forthwith pay such amount over to the Prior Lien Agent in accordance with the terms of Section 4.2.
Each Subordinated Lien Agent on behalf of itself and the applicable Subordinated Lien Claimholders, agrees that no such Person shall provide to such Grantor any DIP Financing (or support any other Person in seeking to provide to any Grantor any such DIP Financing) to the extent that any Subordinated Lien Claimholder would, in connection with such financing, be granted a Lien on any of its Subordinated Lien Collateral unless the Prior Lien Claimholders shall have consented thereto.
The Company and the other Grantors acknowledge and agree that the value of any payments or distributions in cash, property or other assets received by any Subordinated Lien Agent or the Subordinated Lien Claimholders that are paid over to the Prior Lien Agent or the Prior Lien Claimholders pursuant to this Agreement shall not reduce any of the Subordinated Lien Obligations.
Each Prior Lien Agent is hereby authorized to make any such endorsements as agent for the Subordinated Lien Agent or Subordinated Lien Claimholders.
No Subordinated Lien Agent or other Subordinated Lien Claimholder will assert or enforce (or support any Person asserting or enforcing), at any time prior to the Discharge of ABL Obligations with respect to any Collateral, any claim under Section 506(c) of the Bankruptcy Code senior to or on a parity with the Liens in favor of the ABL Agent and the other ABL Claimholders for costs or expenses of preserving or disposing of any such Collateral.
The Company and the other Grantors acknowledge and agree that the value of any payments or distributions in cash, property or other assets received by the Subordinated Lien Agent or the other Subordinated Lien Claimholders that are paid over to the Prior Lien Agent or the other Prior Lien Claimholders pursuant to this Agreement shall not reduce any of the Subordinated Lien Obligations.
If any Subordinated Lien Agent or any Subordinated Lien Claimholders shall, at any time, receive any Proceeds of any such insurance policy or any such award or payment with respect to ABL Priority Collateral in contravention of this Agreement, it shall (to the extent in its possession in the case of the Notes Agent) segregate and hold in trust and forthwith pay such amount over to the Prior Lien Agent in accordance with the terms of Section 4.2.
As between the Senior Collateral Agent and the Subordinated Lien Agent, the Senior Collateral Agent shall have a first priority security interest in the Designated Accounts and the Subordinated Lien Agent shall have a second priority security interest in the Designated Accounts.