Common use of Effectiveness; Continuing Nature of this Agreement; Severability Clause in Contracts

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders may continue, at any time and without notice to the other Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 10 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement (Armstrong Coal Company, Inc.), Intercreditor Agreement (Armstrong Energy, Inc.)

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Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL US Revolving Credit Collateral Agent, the Revolving Credit Claimholders and Note the Notes Collateral Agent and the Notes Claimholders may continue, at any time and without notice to the any Agent or any other AgentPerson, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the AgentsThe US Revolving Credit Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Revolving Credit Claimholders, as applicableand the Notes Collateral Agent, on behalf of itself and the Notes Claimholders, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 9 contracts

Samples: Intercreditor Agreement (Edgen Group Inc.), Intercreditor Agreement (EM Holdings LLC), Intercreditor Agreement (EM Holdings LLC)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement and each of debt or claim subordination), the First Lien Claimholders and the ABL Claimholders and Note Second Lien Claimholders may continue, at any time and without notice to the any Second Lien Collateral Agent or any other AgentSecond Lien Claimholder or any First Lien Collateral Agent or any other First Lien Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor Obligor constituting First Lien Obligations or Second Lien Obligations in reliance hereon. Each of the AgentsSecond Lien Collateral Agent, on behalf the ABL Claimholders or the Note of itself and its Related Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right it may have under applicable law to revoke this Agreement or any Claimholder of the provisions of this Agreement. Each First Lien Collateral Agent, on behalf of itself and its Related First Lien Claimholders, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor Obligor shall include such Grantor Obligor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar Person for any Grantor Obligor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 9 contracts

Samples: Intercreditor Agreement (Dayforce, Inc.), Pledge and Security Agreement (Nuvei Corp), Credit Agreement (Ceridian HCM Holding Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien payment subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Issuer Senior Debt Claimholders may continue, at any time and without notice to the other AgentTrustee or any Holder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor the Issuer constituting Issuer Senior Debt in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency filing or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of proceeding under the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to any Grantor the Issuer shall include such Grantor the Issuer as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person acting for any Grantor the Issuer (as applicablethe case may be) in any Insolvency or Liquidation Proceedingproceeding under the Bankruptcy Code. This Agreement shall terminate and be of no further force and effect:

Appears in 6 contracts

Samples: Note Subordination Agreement, Note Subordination Agreement (Centrus Energy Corp), Note Subordination Agreement (Centrus Energy Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Claimholders and Note Fixed Asset Claimholders may continue, at any time and without notice to the other any Collateral Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Collateral Agents, on behalf of itself and the ABL Revolving Credit Claimholders or the Note Fixed Asset Claimholders, as applicablethe case may be, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsCollateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 5 contracts

Samples: Intercreditor Agreement (PAE Inc), Revolving Credit Agreement (VERRA MOBILITY Corp), Intercreditor Agreement (VERRA MOBILITY Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Fixed Asset Claimholders may continue, at any time and without notice to the other any Collateral Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Collateral Agents, on behalf of itself and the ABL Claimholders or the Note Fixed Asset Claimholders, as applicablethe case may be, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsCollateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 4 contracts

Samples: Term Intercreditor Agreement (Ciena Corp), Security Agreement (Performance Sports Group Ltd.), Credit Agreement (Performance Sports Group Ltd.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim lien subordination), and the ABL Claimholders and Note Claimholders Secured Parties of any Class may continue, at any time and without notice to the any Agent or Secured Party of any other Agent, Class to extend credit and other financial accommodations and lend monies to or for the benefit of SSCC or any Grantor constituting Obligations of such Class in reliance hereon. Each of the AgentsAgent, on behalf the ABL Claimholders or the Note Claimholders, as applicableof itself and its Related Secured Parties, hereby irrevocably, absolutely, and unconditionally waives any right it or any Claimholder of them may have under applicable law to revoke this Agreement or any of the provisions of this Agreementhereof. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to SSCC or any other Grantor shall include SSCC or such Grantor as debtor and debtor-in-possession and any receiver or trustee for SSCC or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Without limiting the generality of the foregoing, this Agreement is intended to constitute and shall terminate be deemed to constitute a “subordination agreement” within the meaning of Section 510(a) of the Bankruptcy Code and is intended to be of no further force and effect:shall be interpreted to be enforceable to the maximum extent permitted pursuant to applicable nonbankruptcy law.

Appears in 4 contracts

Samples: Credit Agreement (SMURFIT-STONE CONTAINER Corp), Credit Agreement (Smurfit Stone Container Corp), Credit Agreement (Smurfit Stone Container Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL First Lien Claimholders and Note Claimholders of any Series may continue, at any time and without notice to the any First Lien Claimholder of any other AgentSeries, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereon. Each of the AgentsRepresentative and each Collateral Agent, on behalf the ABL Claimholders or the Note Claimholders, as applicableof itself and each other First Lien Claimholder represented by it, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-debtor in possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:effect with respect to any Representative or Collateral Agent and the First Lien Claimholders represented by such Representative or Collateral Agent and their First Lien Obligations, on the date on which there has been a Discharge of such Series of First Lien Obligations, subject to the rights of the First Lien Claimholders under Section 2.6; provided, however, that such termination shall not relieve any such party of its obligations incurred hereunder prior to the date of such termination.

Appears in 4 contracts

Samples: Passu Intercreditor Agreement (Franchise Group, Inc.), Passu Intercreditor Agreement (Turning Point Brands, Inc.), Passu Intercreditor Agreement (Abercrombie & Fitch Co /De/)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Collateral Agent or any Second Lien Claimholder subject to the Second Lien Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsThe Second Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar Person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Subject to the immediately succeeding sentence, this Agreement shall terminate and be of no further force and effect:

Appears in 3 contracts

Samples: Intercreditor Agreement (KCG Holdings, Inc.), Intercreditor Agreement (KCG Holdings, Inc.), Intercreditor Agreement (KCG Holdings, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the any Second Lien Representative or any other AgentSecond Lien Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereon. Each of the AgentsSecond Lien Representative and each Second Lien Collateral Agent, on behalf the ABL Claimholders or the Note Claimholders, as applicableof itself and each other Second Lien Claimholder represented by it, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 3 contracts

Samples: Credit Agreement (Enviva Partners, LP), Intercreditor Agreement, Credit Agreement (Enviva Partners, LP)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note related Series of First Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note related Series of First Lien Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 3 contracts

Samples: Intercreditor Agreement (Claires Stores Inc), Intercreditor Agreement (Claires Stores Inc), Intercreditor Agreement

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Collateral Agent or any Second Lien Claimholder subject to the Second Lien Loan Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsThe Second Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 3 contracts

Samples: Security Agreement (X Rite Inc), Security Agreement (X Rite Inc), Intercreditor Agreement (Day International Group Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement and each of debt or claim subordination), and the ABL Claimholders and Note the Term Loan Claimholders may continue, at any time and without notice to any Term Loan Collateral Agent or any other Term Loan Claimholder or the ABL Credit Agreement Collateral Agent or any other AgentABL Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor Obligor constituting ABL Obligations and/or Term Loan Obligations in reliance hereon. Each of the AgentsTerm Loan Collateral Agent, on behalf the ABL Claimholders or the Note of itself and its Related Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right it may have under applicable law to revoke this Agreement or any Claimholder of the provisions of this Agreement. The ABL Credit Agreement Collateral Agent, on behalf of itself and its Related Claimholders, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor Obligor shall include such Grantor Obligor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar Person for any Grantor Obligor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 3 contracts

Samples: Intercreditor Agreement (Option Care Health, Inc.), Intercreditor Agreement (Option Care Health, Inc.), Intercreditor Agreement (Option Care Health, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. (a) This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders may continue, at any time and without notice to the other Each Collateral Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of itself and the ABL Claimholders or the Note Claimholders, as applicableapplicable Secured Parties, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, Without limiting the preceding sentence, each generality of the Agentsforegoing, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes is intended to constitute and shall be deemed to constitute a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode and is intended to be and shall be interpreted to be enforceable to the maximum extent permitted pursuant to applicable non-bankruptcy law. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to each Borrower or any other Grantor shall include such Borrower or such Grantor as debtor and debtor-in-debtor in possession and any receiver or trustee for each Borrower or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:.

Appears in 3 contracts

Samples: Security Agreement, Security Agreement (Jill Intermediate LLC), Credit Agreement (Jill Intermediate LLC)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Term Loan Claimholders may each continue, at any time and without notice to the other AgentClaimholders, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting ABL Obligations or Term Loan Obligations, as applicable in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreementhereof. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:effect upon the earliest to occur of the Discharge of ABL Obligations (in accordance with the provisions hereof) or the Discharge of Term Loan Obligations (in accordance with the provisions hereof).

Appears in 2 contracts

Samples: Loan and Security Agreement (CPG International Inc.), Term Loan Intercreditor Agreement (CPG International Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note First Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note First Lien Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Credit Agreement (Campbell Alliance Group Inc), Intercreditor Agreement (Campbell Alliance Group Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Claimholders and Note Term Loan Claimholders may continue, at any time and without notice to the other any Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of the any Grantor in reliance hereon. Each of the Agents, on behalf of itself and the ABL Revolving Credit Claimholders or the Note Term Loan Claimholders, as applicablethe case may be, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (J Crew Group Inc), Intercreditor Agreement (J Crew Group Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an and intercreditor agreement of debt or claim subordination), and the ABL Claimholders and Note Senior Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Claimholder subject to the Second Lien Credit Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Issuer or any Grantor constituting Senior Lien Obligations in reliance hereonhereof. Each of the Agents, on behalf the ABL The Second Lien Claimholders or the Note Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives waive any right any Claimholder they may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Issuer or any other Grantor shall include the Issuer or such Grantor as debtor and debtor-in-possession and any receiver receiver, assignee for the benefit of creditors, trustee or trustee other successor for the Issuer or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:effect upon the Discharge of Senior Lien Obligations.

Appears in 2 contracts

Samples: Intercreditor and Subordination Agreement (FriendFinder Networks Inc.), Intercreditor and Subordination Agreement (FriendFinder Networks Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Collateral Agent or any Second Lien Claimholder subject to the Second Lien Loan Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereon. Each of the AgentsThe Second Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Bz Intermediate Holdings LLC), Intercreditor Agreement (Bz Intermediate Holdings LLC)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties heretohereto on the date hereof. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders First Lien Collateral Agent, the First Lien Claimholders, the Collateral Trustee and Note the Second Lien Claimholders may continue, at any time and without notice to any of the other Agentothers, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, such Person hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent withThe relative rights, but not as provided for in limitation ofthis Agreement, will continue after the preceding sentence, each commencement of any such Insolvency or Liquidation Proceeding on the same basis as prior to the date of the Agents, on behalf commencement of the ABL Claimholders and the Note Claimholdersany such Insolvency or Liquidation Proceeding, as applicable, irrevocably acknowledges that provided in this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeAgreement. Any If any provision of this Agreement that is prohibited invalid, illegal or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition respect or unenforceability in any jurisdiction shall not invalidate or render unenforceable jurisdiction, the validity, legality and enforceability of such provision in all other respects and of all remaining provisions, and of such provision in all other jurisdictions, will not in any other jurisdictionway be affected or impaired thereby. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effecteffect on the earlier of:

Appears in 2 contracts

Samples: Intercreditor Agreement (Viasystems Group Inc), Intercreditor Agreement (Viasystems Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Subject to Section 6.4, this Agreement shall become effective when executed and delivered by the parties heretohereto and shall continue to be effective until the Discharge of Senior Priority Obligations shall have occurred. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Senior Priority Claimholders and Note Junior Priority Claimholders may continue, at any time and without notice to the other any Collateral Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Collateral Agents, on behalf of itself and the ABL Claimholders or the Note applicable Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsCollateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode (or any similar provision of other applicable Bankruptcy Law). Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:.

Appears in 2 contracts

Samples: Intercreditor Agreement (Cenveo, Inc), Intercreditor Agreement (Cenveo, Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders First Lien Secured Parties may continue, at any time and without notice to the Second Lien Representative or any other AgentSecond Lien Secured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereon. Each of The Second Lien Representative and the AgentsSecond Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Claimholders, as applicableSecond Lien Secured Parties represented by it, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (Ion Geophysical Corp), Second Lien Intercreditor Agreement (Ion Geophysical Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Priority Claimholders may continue, at any time and without notice to the other AgentSecond Priority Collateral Agent or any Second Priority Claimholder subject to the Second Priority Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor constituting First Priority Obligations in reliance hereonhereof. Each of the AgentsThe Second Priority Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Second Priority Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar Person for any the Company or such Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Subject to the immediately succeeding sentence, this Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (Stonemor Inc.), Intercreditor Agreement (Stonemor Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties heretoRevolving Collateral Agent and the Term Collateral Agent. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders of any Class may continue, at any time and without notice to the Collateral Agent or the other AgentClaimholders of the other Class, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting Revolving Obligations or Term Obligations, as the case may be, in reliance hereon. Each of the AgentsThe Revolving Collateral Agent, on behalf of itself and the ABL Claimholders or the Note other Revolving Claimholders, as applicableand the Term Collateral Agent, on behalf of itself and the other Term Claimholders, hereby irrevocably, absolutely, and unconditionally waives waive any right any Claimholder of them may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsRevolving Collateral Agent, on behalf of the ABL Claimholders itself and the Note other Revolving Claimholders, as applicableand the Term Collateral Agent, on behalf of itself and the other Term Claimholders, irrevocably acknowledges acknowledge that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode or any comparable provision of any other applicable Bankruptcy Law and is intended to be and shall be interpreted to be enforceable to the maximum extent permitted pursuant to applicable non-Bankruptcy Law. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-debtor in possession and any receiver receiver, manager or trustee for any such Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall automatically terminate and be of no further force and effect:effect (a) with respect to the Revolving Collateral Agent, the other Revolving Claimholders, and the Revolving Obligations, on the date that the Discharge of Revolving Obligations has occurred, and (b) with respect to the Term Collateral Agent, the other Term Claimholders and the Term Obligations on the date that the Discharge of Term Obligations has occurred.

Appears in 2 contracts

Samples: Counterpart Agreement (REV Group, Inc.), Counterpart Agreement (REV Group, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties heretohereto (it being understood that this Agreement shall become effective among the Grantors, the ABL Claimholders and the Notes Claimholders upon execution and delivery of this Agreement by the ABL Agent, the Notes Agent and the Grantors party hereto on the date hereof). This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note the Notes Claimholders may continue, at any time and without notice to the any other AgentAgent or Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of the ABL Claimholders or the Note applicable Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL applicable Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effecteffect subject to the rights provided to Prior Lien Claimholders under Section 6.4:

Appears in 2 contracts

Samples: Intercreditor Agreement (Libbey Inc), Intercreditor Agreement (Libbey Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. (a) This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders may continue, at any time and without notice to the other Each Security Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of itself and the ABL Claimholders or the Note Claimholders, as applicableapplicable Secured Parties, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, Without limiting the preceding sentence, each generality of the Agentsforegoing, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes is intended to constitute and shall be deemed to constitute a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode and is intended to be and shall be interpreted to be enforceable to the maximum extent permitted pursuant to applicable nonbankruptcy law. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to each Borrower or any other Grantor shall include such Borrower or such Grantor as debtor and debtor-in-debtor in possession and any receiver or trustee for each Borrower or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:.

Appears in 2 contracts

Samples: Intercreditor Agreement (Party City Holdco Inc.), Intercreditor Agreement (Am-Source, LLC)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note the respective Notes Claimholders may continue, at any time and without notice to the other AgentAgents, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of the ABL Claimholders or the Note respective Notes Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note respective Notes Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (Horizon Lines, Inc.), Intercreditor Agreement (Horizon Lines, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders Revolving Secured Parties may continue, at any time and without notice to the other AgentTerm Collateral Agent or any Term Secured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting Revolving Obligations in reliance hereon. Each of the AgentsThe Term Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Claimholders, as applicableTerm Secured Parties, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:.

Appears in 2 contracts

Samples: Intercreditor Agreement (Spectrum Brands, Inc.), Intercreditor Agreement (Spectrum Brands, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the any Second Lien Representative or any other AgentSecond Lien Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereon. Each of the AgentsSecond Lien Representative and each Second Lien Collateral Agent, on behalf the ABL Claimholders or the Note Claimholders, as applicableof itself and each other Second Lien Claimholder represented by it, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Credit Agreement (ESH Hospitality, Inc.), Second Lien Intercreditor Agreement (Engility Holdings, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Senior Claimholders may continue, at any time and without notice to the Third Lien Representative or any other AgentThird Lien Claimholder subject to the Third Lien Loan Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting Senior Obligations in reliance hereon. Each of The Third Lien Representative and the AgentsThird Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Third Lien Claimholders, as applicableand the Third Lien Claimholders, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Subordination and Intercreditor Agreement, Subordination and Intercreditor Agreement

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), ) and the ABL Claimholders and Note Revolving Claimholders may continue, at any time and without notice to the other AgentNotes Collateral Agent or Notes Claimholders, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting Revolving Obligations in reliance hereon. Each of the Agents, on behalf Revolving Collateral Agent and the ABL Claimholders or the Note Claimholders, as applicable, Notes Collateral Agent hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsRevolving Collateral Agent and the Notes Collateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-debtor in possession and any receiver or trustee for any such Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (Salem Media Group, Inc. /De/), Intercreditor Agreement

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other Agent, Second Lien Collateral Agent or any Second Lien Claimholder to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsThe Second Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, Without limiting the preceding sentence, each generality of the Agentsforegoing, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes is intended to constitute and shall be deemed to constitute a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode and is intended to be and shall be interpreted to be enforceable to the maximum extent permitted pursuant to applicable nonbankruptcy law. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (Modtech Holdings Inc), Intercreditor Agreement (Modtech Holdings Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Agent, the Revolving Credit Claimholders and Note the Collateral Trustee, the Secured Debt Representatives and the Secured Debt Claimholders may continue, at any time and without notice to any of the other Agentothers, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, such Person hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. Agreement The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (NewPage Holding CORP), Intercreditor Agreement (NewPage Energy Services LLC)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of lien subordination. The Second Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders may continue, at any time and without notice to the other Collateral Agent, to extend credit for itself and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicableof each other Second Lien Claimholder, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar Person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (Nauticus Robotics, Inc.), Intercreditor Agreement (Nauticus Robotics, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. (a) This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders may continue, at any time and without notice to the other Each Security Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of itself and the ABL Claimholders or the Note Claimholders, as applicableapplicable Secured Parties, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, Without limiting the preceding sentence, each generality of the Agentsforegoing, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes is intended to constitute and shall be deemed to constitute a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode and is intended to be and shall be interpreted to be enforceable to the maximum extent permitted pursuant to applicable non-bankruptcy law. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company and/or any other Grantor shall include the Company and/or such Grantor as debtor and debtor-in-debtor in possession and any receiver or trustee for the Company and/or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:.

Appears in 2 contracts

Samples: Intercreditor Agreement (Interline Brands, Inc./De), Intercreditor Agreement (Interline Brands, Inc./De)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSubordinated Collateral Trustee or any Subordinated Lien Claimholder subject to the Subordinated Lien Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsThe Subordinated Collateral Trustee, on behalf of itself and the ABL Claimholders or the Note Subordinated Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: First and Subordinated Lien Intercreditor Agreement (CVR Energy Inc), First and Subordinated Lien Intercreditor Agreement (CVR Energy Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Collateral Agent or any Second Lien Claimholder subject to the Second Lien Loan Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of U.S. Borrower or any Grantor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsThe Second Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to U.S. Borrower or any other Grantor shall include U.S. Borrower or such Grantor as debtor and debtor-in-possession and any receiver or trustee for U.S. Borrower or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Counterpart Agreement (Arizona Chemical Ltd.), Counterpart Agreement (Arizona Chemical Ltd.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders may continue, at any time and without notice to the any other AgentClaimholders, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting Obligations in reliance hereon. Each of the AgentsRepresentative, on behalf the ABL Claimholders or the Note Claimholders, as applicableof itself and each other Claimholder represented by it, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-debtor in possession and any receiver receiver, receiver-manager, trustee, monitor or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:.

Appears in 2 contracts

Samples: Passu Intercreditor Agreement (Radiant Logistics, Inc), Passu Intercreditor Agreement (Radiant Logistics, Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. (a) This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders may continue, at any time and without notice to the other Each Security Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of itself and the ABL Claimholders or the Note Claimholders, as applicableapplicable Secured Parties, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, Without limiting the preceding sentence, each generality of the Agentsforegoing, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes is intended to constitute and shall be deemed to constitute a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode or any similar provision of any other Debtor Relief Law and is intended to be and shall be interpreted to be enforceable to the maximum extent permitted pursuant to applicable non-bankruptcy law. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Borrower and/or any other Grantor shall include such Borrower and/or such Grantor as debtor and debtor-in-debtor in possession and any receiver or trustee for such Borrower and/or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:.

Appears in 2 contracts

Samples: Intercreditor Agreement (Post Holdings, Inc.), Intercreditor Agreement (Post Holdings, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Collateral Agent or any Second Lien Claimholder subject to the Second Lien Note Facility Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsThe Second Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Credit Agreement (KAR Auction Services, Inc.), Intercreditor Agreement (KAR Auction Services, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note the Fixed Asset Claimholders may continue, at any time and without notice to the any other AgentAgent or any other Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor in reliance hereonhereof. Each of the AgentsABL Collateral Agent and Fixed Asset Collateral Agent, on behalf of itself and the ABL Claimholders or and the Note ClaimholdersFixed Asset Claimholders represented by it, as applicablerespectively, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement (Staples Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), ) and the ABL Claimholders and Note Claimholders may continue, at any time and without notice to the Notes Agent or any other AgentNotes Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting ABL Obligations in reliance hereonhereof. Each of the Agents, on behalf the Notes Agent and ABL Claimholders or the Note Claimholders, as applicable, Agent hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of ABL Agent and the AgentsNotes Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any such Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (LSB Industries Inc), Intercreditor Agreement (LSB Industries Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note The Credit Agreement Claimholders may continue, at any time and without notice to the other AgentPari Tranche Collateral Agent or any Pari Tranche Claimholder subject to the Pari Tranche Note Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting Credit Agreement Obligations in reliance hereonhereof. Each of the AgentsThe Pari Tranche Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Pari Tranche Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Credit Agreement (KAR Auction Services, Inc.), Intercreditor Agreement (KAR Auction Services, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders First Lien Secured Parties may continue, at any time and without notice to the any Second Lien Representative or any other AgentSecond Lien Secured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereon. Each of the AgentsSecond Lien Representative and each Second Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Claimholders, as applicableSecond Lien Secured Parties represented by it, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Revolving Credit Agreement (Neiman Marcus Group LTD LLC), Assignment and Acceptance (Amneal Pharmaceuticals, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Senior Lien Claimholders may continue, at any time and without notice to the any Junior Lien Representative or any other AgentJunior Lien Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor the Company or Centrus constituting Senior Lien Obligations in reliance hereon. Each of the AgentsJunior Lien Representative and each Junior Lien Collateral Agent, on behalf the ABL Claimholders or the Note Claimholders, as applicableof itself and each other Junior Lien Claimholder represented by it, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to any Grantor the Company shall include such Grantor the Company as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person acting for any Grantor the Company (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Subordination and Intercreditor Agreement (Centrus Energy Corp), Pledge and Security Agreement (Centrus Energy Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Claimholders and Note Fixed Asset Claimholders may continue, at any time and without notice to the other any Collateral Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Collateral Agents, on behalf of itself and the ABL Revolving Credit Claimholders or the Note Fixed Asset Claimholders, as applicablethe case may be, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsCollateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode (or any similar provision of other applicable Bankruptcy Law). Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (Cenveo, Inc), Intercreditor Agreement (Cenveo, Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Collateral Agent, the Revolving Credit Claimholders and Note the Collateral Trustee, the Term Priority Lien Claimholders and the Subordinated Lien Claimholders may continue, at any time and without notice to any of the other Agentothers, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, such Person hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Security Agreement (MRC Global Inc.), Intercreditor Agreement (MRC Global Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective effective, as of the date of this Agreement, when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders Agent, the ABL Secured Parties and the Collateral Agent and the Note Claimholders may continue, at any time and without notice to any of the other Agentothers, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, such Person hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent withThe relative rights, but not as provided for in limitation ofthis Agreement, will continue after the preceding sentence, each commencement of any such Insolvency Proceeding on the same basis as prior to the date of the Agents, on behalf commencement of the ABL Claimholders and the Note Claimholdersany such case, as applicable, irrevocably acknowledges that provided in this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeAgreement. Any If any provision of this Agreement that is prohibited invalid, illegal or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition respect or unenforceability in any jurisdiction shall not invalidate or render unenforceable jurisdiction, the validity, legality and enforceability of such provision in all other respects and of all remaining provisions, and of such provision in all other jurisdictions, will not in any other jurisdictionway be affected or impaired thereby. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (New Enterprise Stone & Lime Co., Inc.), Intercreditor Agreement (New Enterprise Stone & Lime Co., Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Working Capital Claimholders, the Term Loan Claimholders and Note any Additional Claimholders may each continue, at any time and without notice to the other AgentClaimholders, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor in reliance hereon. Each of the Agentsconstituting Working Capital Obligations, on behalf the ABL Claimholders Term Loan Obligations or the Note ClaimholdersAdditional Obligations, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreementin reliance hereof. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:effect upon the Discharge of Working Capital Obligations (in accordance with the provisions hereof), except for Section 5.3 and the provisions of this Section 8 as they relate to Section 5.3, and subject to reinstatement in accordance with Section 6.7.

Appears in 2 contracts

Samples: Credit Agreement (Nci Building Systems Inc), Intercreditor Agreement (Nci Building Systems Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the North America ABL Claimholders and Note the Notes Pari Passu Lien Claimholders may continue, at any time and without notice to the any other AgentAgent or any other Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor in reliance hereonhereof. Each of the AgentsNorth America ABL Agent and the Notes Collateral Trustee, on behalf of itself and the other North America ABL Claimholders or and the Note Notes Pari Passu Lien Claimholders, as applicablerespectively, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar Person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (Signature Group Holdings, Inc.), Intercreditor Agreement

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Claimholders and Note Fixed Asset Claimholders may continue, at any time and without notice to the other any Collateral Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Collateral Agents, on behalf of itself and the ABL Revolving Credit Claimholders or the Note Fixed Asset Claimholders, as applicablethe case may be, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsCollateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode or any similar provision of any other Bankruptcy Law. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Credit Agreement (RR Donnelley & Sons Co)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL SCF Claimholders and Note Claimholders may continue, at any time and without notice to the other Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL SCF Claimholders or the Note Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL SCF Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Unifi Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Collateral Agent, the Revolving Credit Claimholders and the Note Lien Collateral Agent, the Note Lien Representatives and the Note Lien Claimholders may continue, at any time and without notice to any of the other Agentothers, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, such Person hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee Note Lien Collateral Agent for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (LNT Leasing II, LLC)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note the Fixed Asset Claimholders may continue, at any time and without notice to the any other AgentAgent or any other Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor in reliance hereonhereof. Each of the AgentsABL Collateral Agent and Fixed Asset Collateral Agent, on behalf of itself and the ABL Claimholders or and the Note ClaimholdersFixed Asset Claimholders represented by it, as applicablerespectively, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in Table of Contents any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Capella Healthcare, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the any Second Lien Representative or any other AgentSecond Lien Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereon. Each of the AgentsSecond Lien Representative and each Second Lien Collateral Agent, on behalf the ABL Claimholders or the Note Claimholders, as applicableof itself and each other Second Lien Claimholder represented by it, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar Person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Summit Midstream Partners, LP)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), ) and the ABL Claimholders and Note Revolving Claimholders may continue, at any time and without notice to the other AgentNotes Collateral Agent or Notes Claimholders, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting Revolving Obligations in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, Revolving Agent and Notes Collateral Agent hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsRevolving Agent and the Notes Collateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-debtor in possession and any receiver or trustee for any such Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Headwaters Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Agents and the other Revolving Credit Claimholders and Note the Term Loan Agents and the other Term Loan Claimholders may continue, at any time and without notice to any of the other Agentothers, to extend credit and other financial accommodations and lend monies to or for the benefit of any Borrower or any other Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, such Person hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Borrower or any other Grantor shall include such Borrower or such other Grantor as debtor and debtor-in-possession and any receiver or trustee for any Borrower or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Novelis Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), ) and the ABL Claimholders and Note Revolving Claimholders may continue, at any time and without notice to the other AgentNotes Collateral Agent or Notes Claimholders, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting Revolving Obligations in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, Revolving Collateral Agent and Notes Collateral Agent hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsRevolving Collateral Agent and the Notes Collateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-debtor in possession and any receiver or trustee for any such Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Associated Materials, LLC)

Effectiveness; Continuing Nature of this Agreement; Severability. This Subject to Section 6.4, this Agreement shall become effective when executed and delivered by the parties heretohereto and shall continue to be effective until the earlier to occur of (a) the Discharge of Priming Senior Priority Obligations shall have occurred and no Excess Senior Priority Obligations are then outstanding or (b) the Discharge of Junior Priority Obligations shall have occurred. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Senior Priority Claimholders and Note Junior Priority Claimholders may continue, at any time and without notice to the other any Collateral Agent, to extend credit and other financial accommodations and 29 lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Collateral Agents, on behalf of itself and the ABL Claimholders or the Note applicable Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsCollateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode (or any similar provision of other applicable Bankruptcy Law). Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:8.3.

Appears in 1 contract

Samples: Version Intercreditor Agreement

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Term Debt Claimholders may continue, at any time and without notice to the other Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or and the Note Term Debt Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Term Debt Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Subject to Section 5.5, this Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Collateral Agent or any Second Lien Claimholder (subject to the Second Lien Loan Documents), to extend credit and other financial accommodations and lend monies to or for the benefit of the Borrower or any Grantor Loan Party constituting First Lien Obligations in reliance hereon. Each of the AgentsThe Second Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Borrower or any Grantor other Loan Party shall include the Borrower or such Grantor Loan Party as debtor and debtor-in-debtor in possession and any receiver or trustee for the Borrower or any Grantor other Loan Party (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement

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Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and the Note Claimholders may continue, at any time and without notice to the any other AgentAgent or any other Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor in reliance hereonhereof. Each of the AgentsABL Agent and Note Security Agent, on behalf of itself and the ABL Claimholders or and the Note ClaimholdersClaimholders represented by it, as applicablerespectively, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Pioneer Energy Services Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. (a) This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Notes Claimholders may continue, at any time and without notice to the other any Collateral Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Collateral Agents, on behalf of itself and the ABL Claimholders or the Note Notes Claimholders, as applicablethe case may be, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsCollateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode (or any similar provision of any other applicable law). Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee trustee, administrator, examiner or liquidator for or in respect of any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Collateral Agreement (Arconic Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the Second Lien Collateral Agent or any other AgentSecond Lien Claimholder subject to the Second Lien Loan Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Borrower or any Grantor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsThe Second Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note other Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Borrower or any other Grantor shall include the Borrower or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Borrower or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Butler International Inc /Md/)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties heretohereto on the date hereof. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination)and the ABL Agent, and the ABL Claimholders and Note the Collateral Trustee, the Priority Lien Representatives and the Priority Lien Claimholders may continue, at any time and without notice to any of the other Agentothers, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, such Person hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this AgreementAgreement (including, without limitation, any such right arising under Section 1129(b) of the Bankruptcy Code). The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent withThe relative rights, but not as provided for in limitation ofthis Agreement, will continue after the preceding sentence, each commencement of any such Insolvency or Liquidation Proceeding on the same basis as prior to the date of the Agents, on behalf commencement of the ABL Claimholders and the Note Claimholdersany such case, as applicable, irrevocably acknowledges that provided in this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeAgreement. Any If any provision of this Agreement that is prohibited invalid, illegal or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition respect or unenforceability in any jurisdiction shall not invalidate or render unenforceable jurisdiction, the validity, legality and enforceability of such provision in all other respects and of all remaining provisions, and of such provision in all other jurisdictions, will not in any other jurisdictionway be affected or impaired thereby. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Unisys Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Claimholders and Note Term Loan Claimholders may continue, at any time and without notice to the other any Collateral Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Collateral Agents, on behalf of itself and the ABL Revolving Credit Claimholders or the Note Term Loan Claimholders, as applicablethe case may be, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsCollateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Kemet Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Claimholders and Note Claimholders may continue, at any time and without notice to the other Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of itself and the ABL Revolving Credit Claimholders or the Note Claimholders, as applicablethe case may be, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (CitiSteel PA, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Senior Secured Note Claimholders may continue, at any time and without notice to the other Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Senior Secured Note Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Senior Secured Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Southeastern Grocers, LLC)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Claimholders and Note Fixed Asset Claimholders may continue, at any time and without notice to the other any Collateral Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Collateral Agents, on behalf of itself and the ABL Revolving Credit Claimholders or the Note Fixed Asset Claimholders, as applicablethe case may be, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsCollateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law or other applicable law and Section 510(a) of the Bankruptcy CodeCode or any similar provision of any other Bankruptcy Law. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver, interim receiver, receiver and manager, trustee or trustee similar official for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Petco Health & Wellness Company, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Collateral Agents, the Revolving Credit Claimholders and Note the Term Loan Collateral Agent and the Term Loan Claimholders may continue, at any time and without notice to the any Agent or any other AgentPerson, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Revolving Credit Collateral Agents, on behalf of itself and the ABL Claimholders or the Note Revolving Credit Claimholders, as applicableand the Term Loan Collateral Agent, on behalf of itself and the Term Loan Claimholders, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Edgen Murray LTD)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), ) and the ABL Claimholders and Note Revolving Claimholders may continue, at any time and without notice to the other AgentTerm Loan Agent or Term Loan Claimholders, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting Revolving Obligations in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, Revolving Agent and Term Loan Agent hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsRevolving Agent and Term Loan Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-debtor in possession and any receiver or trustee for any such Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intellectual Property Security Agreement (Ollie's Bargain Outlet Holdings, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Limited Secured Acquisition Claimholders may continue, at any time and without notice to the any Junior Lien Representative or any other AgentJunior Lien Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor the Company or Centrus constituting Limited Secured Acquisition Obligations in reliance hereon. Each of the AgentsJunior Lien Representative and each Junior Lien Collateral Agent, on behalf the ABL Claimholders or the Note Claimholders, as applicableof itself and each other Junior Lien Claimholder represented by it, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to any Grantor the Company shall include such Grantor the Company as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person acting for any Grantor the Company (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Subordination and Intercreditor Agreement (Centrus Energy Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Collateral Agent or any Second Lien Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of either Borrower or any Grantor constituting First Lien Obligations in reliance hereon. Each of the AgentsThe Second Lien Collateral Agent, on behalf the ABL Claimholders or the Note Claimholders, as applicableof itself and each Second Lien Claimholder, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to either Borrower or any other Grantor shall include such Borrower or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for either Borrower or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Second Lien Intercreditor Agreement (Turning Point Brands, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an and intercreditor agreement of debt or claim subordination), and the ABL Claimholders and Note Senior Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Claimholder subject to the Second Lien Note Documents, in reliance hereof and in compliance herewith, to extend credit and other financial accommodations and lend monies to or for the benefit of the Issuer or any Grantor in reliance hereonconstituting Senior Lien Obligations. Each of the Agents, on behalf the ABL The Second Lien Claimholders or the Note Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives waive any right any Claimholder they may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Issuer or any other Grantor shall include the Issuer or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Issuer or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:effect upon the Discharge of Senior Lien Obligations.

Appears in 1 contract

Samples: Intercreditor and Subordination Agreement (FriendFinder Networks Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Priority Claimholders may continue, at any time and without notice to the other AgentSecond Priority Collateral Agent or any Second Priority Secured Party subject to the Second Priority Indenture Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor constituting First Priority Obligations in reliance hereonhereof. Each of the AgentsThe Second Priority Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Claimholders, as applicableSecond Priority Secured Parties, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-debtor in possession and any receiver receiver, trustee or trustee similar Person for any the Company or such Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Subject to the immediately succeeding sentence, this Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (GOOD TECHNOLOGY Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Collateral Agent or any Second Lien Claimholder subject to the Second Lien Loan Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company, the European First Lien Borrower or any Grantor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsThe Second Lien Collateral Agent, on behalf of itself and the ABL Claimholders or the Note Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Autocam Corp/Mi)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to any Second Lien Representative or any Second Lien Claimholder subject to the other AgentSecond Lien Credit Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of Borrower or any Grantor other Obligor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsSecond Lien Representative, on behalf of itself and the ABL Second Lien Claimholders or the Note Claimholders, as applicableunder its Second Lien Facility, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to Borrower or any Grantor other Obligor shall include Borrower or such Grantor other Obligor as debtor and debtor-in-possession and any receiver or trustee for Borrower or any Grantor other Obligor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Credit Agreement (LifeStance Health Group, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Collateral Agent or any Second Lien Claimholder subject to the Second Lien Loan Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsThe Second Lien Collateral Agent, for itself and on behalf the ABL Claimholders or the Note Claimholders, as applicableof each other Second Lien Claimholder, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (RadNet, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders First Lien Secured Parties may continue, at any time and without notice to the Second Lien Collateral Agent or any other AgentSecond Lien Secured Party, or to the Third Lien Collateral Agent or any other Third Lien Secured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor the Grantors constituting First Lien Obligations in reliance hereon. Each of the AgentsThe Second Lien Collateral Agent, on behalf of itself and the ABL Claimholders or Second Lien Secured Parties, and the Note ClaimholdersThird Lien Collateral Agent, as applicableon behalf of itself and the Third Lien Secured Parties, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Collateral Agency and Intercreditor Agreement (Mohegan Tribal Gaming Authority)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Parity Lien Claimholders may continue, at any time and without notice to the any Junior Lien Representative or any other AgentJunior Lien Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting Parity Lien Obligations in reliance hereon. Each of the AgentsJunior Lien Representative and each Junior Lien Collateral Agent, on behalf the ABL Claimholders or the Note Claimholders, as applicableof itself and each other Junior Lien Claimholder represented by it, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to those of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession debtor‑in‑possession and any receiver receiver, trustee or trustee similar Person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Urban One, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination)and the Revolving Credit Claimholders, the Pari Passu Secured Parties, and the ABL Claimholders Subordinated Lien Collateral Agent and Note Claimholders the Subordinated Lien Secured Parties may continue, at any time and without notice to any of the other Agentothers, to extend credit and other financial accommodations and lend monies to or for the benefit of any Borrower or any other Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, such Person hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Borrower or any other Grantor shall include such Borrower or such other Grantor as debtor and debtor-in-possession and any receiver or trustee for any Borrower or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Novelis Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Security Agent or any Second Lien Claimholder subject to the Second Lien Loan Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of any Company or any Grantor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsThe Second Lien Security Agent, on behalf of itself and the ABL Claimholders or the Note Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Company or any other Grantor shall include such Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for such Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Edgen Murray LTD)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note the Term Claimholders may continue, at any time and without notice to the any other AgentAgent or any other Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor in reliance hereonhereof. Each of the AgentsABL Agent and Term Agent, on behalf of itself and the ABL Claimholders or and the Note ClaimholdersTerm Claimholders represented by it, as applicablerespectively, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession debtor‑in‑possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Pioneer Energy Services Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), The [ ] Claimholders and the ABL [ ] Claimholders and Note Claimholders may continue, at each hereby waive any time and without notice to the other Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder rights they may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Borrower or any other Grantor shall include the Borrower or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Borrower or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:, (i) with respect to the [ ] Claimholders and the [ ] Obligations, on the date of the Discharge of [ ] Obligations, subject to the rights of the [ ] Claimholders under Section 5.5 and (ii) with respect to the [ ] Claimholders and the [ ] Obligations, on the date of the Discharge of [ ] Obligations, subject to the rights of the [ ] Claimholders under Section 5.4.

Appears in 1 contract

Samples: Intercreditor Agreement (Tel Instrument Electronics Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Claimholders, the Term Loan Claimholders and Note the Additional Pari Passu Claimholders may continue, at any time and without notice to the other any Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of itself and the ABL Revolving Credit Claimholders, the Term Loan Claimholders or the Note Additional Pari Passu Claimholders, as applicablethe case may be, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any during and after the commencement of an Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Solutia Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to the other AgentSecond Lien Administrative Agent or any Second Lien Claimholder subject to the Second Lien Loan Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsThe Second Lien Administrative Agent, on behalf of itself and the ABL Claimholders or the Note Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Erickson Air-Crane Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders Priority Lien Representative and Note the Priority Lien Claimholders may continue, at any time and without notice to the other AgentCollateral Trustee, the Secured Debt Representatives or the Secured Debt Claimholders, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor in reliance hereon. Each of the AgentsThe Priority Lien Representative, on behalf of its itself and the ABL Claimholders or the Note Priority Lien Claimholders, as applicableand the Collateral Trustee, on behalf of itself and the Secured Debt Representatives and the Secured Debt Claimholders, each hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any If any provision of this Agreement that is prohibited invalid, illegal or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition respect or unenforceability in any jurisdiction shall not invalidate or render unenforceable jurisdiction, the validity, legality and enforceability of such provision in all other respects and of all remaining provisions, and of such provision in all other jurisdictions, will not in any other jurisdictionway be affected or impaired thereby. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Collateral Trust Agreement (Leap Wireless International Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), ) and the ABL Claimholders and Note Revolving Claimholders may continue, at any time and without notice to any Term Agent or the other AgentTerm Claimholders, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting ABL Revolving Ob- ligations in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentencesen- tence, the ABL Revolving Collateral Agent and each of the AgentsTerm Agent, on behalf of the ABL Claimholders and the Note Claimholders, as applicableapplicable Claimhold- ers, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debt- or and debtor and debtor-in-in possession and any receiver or trustee for any such Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:effect on the date that the Discharge of ABL Revolving Obligations or the Discharge of Term Obligations has occurred.

Appears in 1 contract

Samples: Intercreditor Agreement

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties heretohereto (it being understood that this Agreement shall become effective among the Grantors, the ABL Claimholders and the Term Claimholders upon execution and delivery of this Agreement by the ABL Agent, the Initial Term Agent and the Grantors party hereto on the date hereof). This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note the Term Claimholders may continue, at any time and without notice to the any other AgentAgent or Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of the ABL Claimholders or the Note applicable Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL applicable Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effecteffect subject to the rights provided to Prior Lien Claimholders under Section 6.4:

Appears in 1 contract

Samples: Intercreditor Agreement (Libbey Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien and claim subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note First Lien Claimholders may continue, at any time and without notice to any Second Lien Agent or any Second Lien Claimholder subject to the other AgentSecond Lien Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of the First Lien Borrowers or any Grantor Obligor constituting First Lien Obligations in reliance hereonhereof. Each of the AgentsSecond Lien Agent, on behalf of itself and the ABL Claimholders or the Note applicable Second Lien Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to a First Lien Borrower, an Issuer or any Grantor other Obligor shall include such Grantor Person as debtor and debtor-in-possession and any receiver or trustee for any Grantor such First Lien Borrower, Issuer or other Obligor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Senior Intercreditor and Subordination Agreement (Cit Group Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note the Fixed Asset Claimholders may continue, at any time and without notice to the any other AgentAgent or any other Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of Holdings, Borrower or any other Grantor in reliance hereonhereof. Each of the AgentsABL Collateral Agent and Fixed Asset Collateral Agent, on behalf of itself and the ABL Claimholders or and the Note ClaimholdersFixed Asset Claimholders represented by it, as applicablerespectively, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All references to Holdings, Borrower or any other Grantor shall include Holdings, Borrower or such Grantor as debtor and debtor-in-possession and any receiver receiver, trustee or trustee similar person for Holdings, Borrower or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (ProFrac Holding Corp.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note the Term Claimholders may continue, at any time and without notice to the any other AgentAgent or any other Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Grantor in reliance hereonhereof. Each of the AgentsThe ABL Agent and Term Agent, on behalf of itself and the ABL Claimholders or and the Note ClaimholdersTerm Claimholders represented by it, as applicablerespectively, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession debtor‑in‑possession and any receiver receiver, trustee or trustee similar person for the Company or any other Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Key Energy Services Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Bank Claimholders and Note Claimholders may continue, at any time and without notice to the other Agent, to extend credit and other financial accommodations and lend monies Monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Bank Claimholders or the Note Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Bank Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a "subordination agreement" within the meaning of both New York Alberta law and Section 510(a) of the US Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Revolving Credit Claimholders and Note Claimholders may continue, at any time and without notice to the other Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of itself and the ABL Revolving Credit Claimholders or the Note Claimholders, as applicablethe case may be, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeProceeding with respect to Holdings or any other Grantor. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Claymont Steel Holdings, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Subject to Section 6.4, this Agreement shall become effective when executed and delivered by the parties heretohereto and shall continue to be effective until the Discharge of Senior Priority Obligations shall have occurred. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Senior Priority Claimholders and Note Junior Priority Claimholders may continue, at any time and without notice to the other any Collateral Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Collateral Agents, on behalf of itself and the ABL Claimholders or the Note applicable Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsCollateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode (or any similar provision of other applicable Bankruptcy Law). Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:8.3.

Appears in 1 contract

Samples: Intercreditor Agreement

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties heretohereto (it being understood that this Agreement shall become effective among the ABL Claimholders and the Senior Secured Notes Claimholders upon execution and delivery of this Agreement by the ABL Agent and the Senior Secured Notes Agent on the date hereof). This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note the Senior Secured Notes Claimholders may continue, at any time and without notice to the any other AgentAgent or Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf of the ABL Claimholders or the Note applicable Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL applicable Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effecteffect subject to the rights provided to Prior Lien Claimholders under Section 6.4:

Appears in 1 contract

Samples: Intercreditor Agreement (Accuride Corp)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Notes Claimholders may continue, at any time and without notice to the other Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Notes Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Notes Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Exide Technologies)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders The Secured Parties may continue, at any time and without notice to the other AgentIESA, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor the Borrower constituting BlueBay Obligations in reliance hereon. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, The parties hereto each hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. Without limiting the generality of the foregoing, this Agreement is intended to constitute and shall be deemed to constitute a “subordination agreement” within the meaning of Section 510(a) of the Bankruptcy Code and is intended to be and shall be interpreted to be enforceable to the maximum extent permitted pursuant to applicable nonbankruptcy law. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Borrower or any Grantor other Credit Party shall include the Borrower or such Grantor Credit Party as debtor and debtor-in-possession and any receiver or trustee for any Grantor the Borrower (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:, (i) with respect to IESA and the IESA Obligations, upon the later of the date of the Discharge of IESA Obligations, and (ii) with respect to the Agent, the Secured Parties and the BlueBay Obligations, the date of the Discharge of BlueBay Obligations, subject to the rights of the Secured Parties under Section 6.5.

Appears in 1 contract

Samples: Temporary Liquidity Facility Intercreditor Agreement (Atari Inc)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Claimholders and Note Claimholders may continue, at any time and without notice to the other Agentany Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting ABL Debt or Term Debt in reliance hereonhereof. Each of the Agents, on behalf the ABL Claimholders or the Note Claimholders, as applicable, Agent hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the Agents, on behalf of the ABL Claimholders and the Note Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any such Grantor (as applicable) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:: (i) with respect to the ABL Claimholders and the ABL Debt, on the date of the indefeasible payment in full in cash of the ABL Debt (other than ABL Hedging Obligations and Bank Product Obligations and indemnity and other contingent obligations as to which no claim has been asserted), the cancellation or expiration of all Letters of Credit issued under the

Appears in 1 contract

Samples: Intercreditor Agreement (Warrior Met Coal, Inc.)

Effectiveness; Continuing Nature of this Agreement; Severability. This Subject to Section 6.4, this Agreement shall become effective when executed and delivered by the parties heretohereto and shall continue to be effective until the earlier to occur of (a) the Discharge of Priming Senior Priority Obligations shall have occurred and no Excess Senior Priority Obligations are then outstanding or (b) the Discharge of Junior Priority Obligations shall have occurred. This is a continuing agreement of Lien lien subordination (as opposed to an agreement of debt or claim subordination), and the ABL Senior Priority Claimholders and Note Junior Priority Claimholders may continue, at any time and without notice to the other any Collateral Agent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor in reliance hereon. Each of the Collateral Agents, on behalf of itself and the ABL Claimholders or the Note applicable Claimholders, as applicable, hereby irrevocably, absolutely, and unconditionally waives any right any Claimholder it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Consistent with, but not in limitation of, the preceding sentence, each of the AgentsCollateral Agent, on behalf of the ABL Claimholders and the Note applicable Claimholders, as applicable, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy CodeCode (or any similar provision of other applicable Bankruptcy Law). Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any Grantor (as applicablethe case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:.

Appears in 1 contract

Samples: Intercreditor Agreement (Cenveo, Inc)

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