Subordinated Lienholders definition
Examples of Subordinated Lienholders in a sentence
The Agent shall have the exclusive right to sell, transfer or otherwise dispose of the Collateral or exercise any other right or remedy with respect thereto as provided in the Senior Lienholders Documents or by applicable law in the manner deemed appropriate by the Agent without regard to the Subordinated Lienholder's Liens therein, and the Subordinated Lienholder will not hinder the Agent's actions in enforcing its remedies with respect to the Collateral.
Notwithstanding anything in this Section 2.2 to the contrary, (i) with respect to blockages initiated pursuant to an Other Default, the Issuer and the Subsidiary Guarantors may pay and Subordinated Lienholders may receive and retain any Restricted Payment before receipt of the Payment Blockage Notice, and (ii) interest will accrue on the Subordinated Indebtedness even if a Restricted Payment is blocked.
Except as expressly set forth in this Agreement, nothing shall limit or restrict the rights and remedies of the Subordinated Lien Collateral Agent or the Subordinated Lienholders as unsecured creditors of the Issuer or the Subsidiary Guarantors.
In the event of any conflict between any duty of the Senior Lender Representative to the Senior Lenders and to the Subordinated Lienholders, the Senior Lender Representative is expressly authorized to resolve such conflict in favor of the Senior Lenders.
Each of the Parties, the Trustee and the Tranche B Lenders acknowledges and agrees that the value of any payments or distributions in cash, property or other assets received by the Subordinated Lien Collateral Agent, the Trustee or the Subordinated Lienholders that are paid over to the Senior Secured Parties pursuant to this Agreement shall not reduce any of the Subordinated Indebtedness.
This Agreement is solely for the benefit of the Parties (and their successors and assigns) and the holders from time to time of the Secured Liabilities (including the Senior Lenders and the Subordinated Lienholders).
In the event of any conflict between the fiduciary duty of the Trustee to the Subordinated Lienholders and to the Senior Lenders, the Trustee is expressly authorized to resolve such conflict in favor of the Subordinated Lienholders.