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 and First Lien Claimholders may continue, at any time and without notice to Second Lien Agent or any Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations in reliance hereof. Each of First Lien Agent and Second Lien Agent 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 4 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement (Hutchinson Technology Inc), Intercreditor Agreement (Hutchinson Technology 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 subordination and First Lien Claimholders may continue, at any time and without notice to Second Lien Agent Trustee or any Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations in reliance hereof. Each of First Lien Agent and Second Lien Agent Trustee 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 the such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 3 contracts

Samples: Intercreditor Agreement (Saratoga Resources Inc /Tx), Intercreditor Agreement (Platinum Energy Solutions, Inc.), Intercreditor Agreement (Saratoga Resources Inc /Tx)

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 and First Lien the ABL Claimholders may continue, at any time and without notice to Second Lien Term Loan Agent or any Second Lien other Term Loan Claimholder, to extend credit and other financial accommodations to or for the benefit of any ABL Grantor constituting First Lien ABL Priority Obligations Debt in reliance hereof. Each of First Lien Agent and Second Lien Term Loan Agent 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 3 contracts

Samples: Intercreditor Agreement (Kronos Worldwide Inc), Intercreditor Agreement (Kronos Worldwide Inc), Credit Agreement (Kronos Worldwide 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 and the First Lien Claimholders may continue, at any time and without notice to Second Lien Agent Creditor or any Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor the Debtor constituting First Lien Priority Obligations Debt in reliance hereof. Each First Lien Creditor, for itself and on behalf of First Lien Agent Claimholders, and Second Lien Agent Creditor, for itself and on behalf of Second Lien Claimholder, each hereby waives waive 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 the Debtor shall include such Grantor the Debtor as debtor and debtor-in-debtor in possession and any receiver or trustee for such Grantor the Debtor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 3 contracts

Samples: Intercreditor Agreement (Boxlight Corp), Amended and Restated Intercreditor Agreement (Boxlight Corp), Intercreditor Agreement (Boxlight 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 and First Lien the ABL Claimholders may continue, at any time and without notice to Second Lien Agent or any Second Lien Term Loan Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations ABL Debt in reliance hereof. Each of First Lien Agent and Second Lien Agent 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 such Grantor in any Insolvency Proceeding. This Subject to the terms of this Agreement that provide for reinstatement of Debt, this Agreement shall terminate and be of no further force and effect:

Appears in 3 contracts

Samples: Intercreditor Agreement (Quest Resource Holding Corp), Intercreditor Agreement (Quest Resource Holding Corp), Intercreditor Agreement (Quest Resource 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 subordination and the First Lien Claimholders may continue, at any time and without notice to any Second Lien Agent Creditor or any Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor the Debtor constituting First Lien Priority Obligations Debt in reliance hereof. Each First Lien Creditor, for itself and on behalf of First Lien Agent Claimholders, and each Second Lien Agent Creditor, for itself and on behalf of Second Lien Claimholder, each hereby waives waive 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 the Debtor shall include such Grantor the Debtor as debtor and debtor-in-debtor in possession and any receiver or trustee for such Grantor the Debtor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Fourth Amended and Restated Intercreditor Agreement (Boxlight Corp), Intercreditor Agreement (Boxlight 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 and First Lien Claimholders Creditors may continue, at any time and without notice to Second Lien Collateral Agent or any Second Lien ClaimholderCreditor, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations in reliance hereof. Each of First Lien Agent and Second Lien Collateral Agent 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement (Interface Security Systems, L.L.C.), Intercreditor Agreement (Interface Security Systems 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 debt and lien subordination and First Lien Claimholders the Senior Lenders may continue, at any time and without notice to Second Lien Agent or any Second Lien ClaimholderSubordinated Lender, to extend credit and other financial accommodations to or for the benefit of any Grantor the Borrower constituting First Lien Priority Senior Obligations in reliance hereof. Each of First Lien Agent and Second Lien Agent Subordinated Lender 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 person shall include such Grantor person as debtor and debtor-in-possession and any receiver or trustee for such Grantor person in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Note Purchase Agreement (Wright Investors Service Holdings, Inc.), Intercreditor Agreement (Merriman 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 subordination and the First Lien Claimholders may continue, at any time and without notice to Second Lien Agent or any other Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations Debt in reliance hereof. Each of First Lien Agent and Second Lien Agent 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 2 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement (Nuverra Environmental Solutions, 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 and First Lien Claimholders may continue, at any time and without notice to Second Lien Agent or any Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations in reliance hereof. Each of the Second Priority Indenture Trustee and the Second Priority Collateral Trustee, (each on behalf of itself and the other Second Priority Claimholders) and the First Lien Agent Priority Indenture Trustee and Second Lien Agent the First Priority Collateral Trustee (each on behalf of itself and the other First Priority Claimholders), hereby waives waive any right right, privilege or power 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. 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 such the Company or any other Grantor (as the case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:effect on the date of Discharge of First Priority Obligations, subject to the rights, privileges and powers of the First Priority Collateral Trustee and the other First Priority Claimholders under Sections 5.5 and 6.5.

Appears in 2 contracts

Samples: Intercreditor Agreement (Satelites Mexicanos Sa De Cv), Intercreditor Agreement (Satelites Mexicanos Sa De Cv)

Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This Agreement is a continuing agreement of lien subordination pursuant to its terms and First Lien Claimholders may continue, at any time and without notice to Second Lien Agent or any Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations in reliance hereof. Each of First Lien Agent and Second Lien Agent hereby waives any right it may have under applicable law to revoke this Agreement or any accordance with Section 510(a) of the provisions of this Agreement. The terms of this Agreement shall survive, Bankruptcy Code and shall survive and continue in full force and effect, effect in any Insolvency Proceeding. All references to an Obligor shall include such Obligor as debtor and debtor-in-possession and any receiver or trustee for such Obligor in any Insolvency or Liquidation Proceeding. 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 Obligor shall include such Grantor Obligor as debtor and debtor-in-debtor in possession and any receiver or trustee for such Grantor Obligor 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 Loan Obligations and the termination of any commitments to lend under the Working Capital Loan Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (WESTMORELAND COAL 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 Lien subordination, and First Lien Claimholders the Secured Party of any Class may continue, at any time and without notice to Second Lien Agent or any Second Lien Claimholderthe Secured Party of the other Class, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor Borrower constituting First Lien Priority their Obligations in reliance hereofhereon. Each of First Lien Agent and Second Lien Agent Secured Party 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 Proceeding. 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 Borrower shall include such Grantor Borrower as debtor and debtor-in-possession and any receiver or trustee for such Grantor Borrower, as the case may be, in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:.

Appears in 1 contract

Samples: Intercreditor Agreement (theMaven, 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 and First Lien Senior Claimholders may continue, at any time and without notice to Second Lien Agent any Subordinated Creditor or any Second Lien other Subordinated Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor Obligor constituting First Lien Senior Priority Obligations in reliance hereof. Each of First Lien Agent Subordinated Creditor and Second Lien Agent each other Subordinated Claimholder hereby waives waive 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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-debtor in possession and any receiver or trustee for such Grantor Obligor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:.

Appears in 1 contract

Samples: Intercreditor and Subordination Agreement (Global Telecom & Technology, 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 and First the Revolving Credit Claimholders and Second Lien Term Loan Claimholders may continue, at any time and without notice to Second Lien Agent or any Second Lien ClaimholderAgent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting First Lien Priority Obligations in reliance hereofhereon. Each of First Lien Agent the Agents, on behalf of itself and the Revolving Credit Claimholders or the Second Lien Agent Term Loan Claimholders, as the case may be, 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. 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 such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Dura Automotive 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 subordination and First Lien Revolver Claimholders may continue, at any time and without notice to Second Lien Term Loan Agent or any Second Lien Term Loan Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Revolver Priority Obligations in reliance hereof. Each This is a continuing agreement of First Lien lien subordination and Term Loan Claimholders may continue, at any time and without notice to Revolver Agent or any Revolver Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting Term Loan Priority Obligations in reliance hereof. Term Loan Agent and Second Lien Revolver Agent each 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 or trustee for the such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Bumble Bee Capital 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 The Second Lien Collateral Agents and First the Second Lien Claimholders may continue, at any time and without notice to Second Lien Agent or any Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations in reliance hereof. Each of First Lien Agent and Second Lien Agent hereby waives waive any right it 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 Proceeding. 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 Issuers or any other Grantor shall include the Issuers or such Grantor as debtor and debtor-in-possession and any receiver or trustee for such the Issuers or any other Grantor (as the case may be) in any Insolvency Proceeding. This Subject to Section 8.18, 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 subordination and the First Lien Claimholders may continue, at any time and without notice to the Second Lien Agent or any Second Lien ClaimholderClaimholder subject to the Second Lien Loan Documents, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor the Borrower constituting First Lien Priority Obligations in reliance hereof. Each of The First Lien Agent Agent, on behalf of itself and the First Lien Claimholders, and the Second Lien Agent Agent, on behalf of itself and the Second Lien Claimholders, each 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 Proceeding. 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 such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Rite Aid Corp)

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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 and First Lien Claimholders may continue, at any time and without notice to Second Lien Agent or any Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations in reliance hereof. Each of First Lien Agent and Second Lien Agent 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 Proceedingor Liquidation Proceeding but, as to any Grantor and the rights of the Secured Parties with respect thereto, shall not survive the effectiveness of any plan of reorganization adopted in connection therewith (subject to the terms of this Agreement with respect to any reorganization securities). 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-debtor in possession and any receiver or trustee for the Borrower or such Grantor 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 (Ferroglobe PLC)

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 and First Lien the ABL Claimholders and Term Loan Claimholders may each continue, at any time and without notice to Second Lien Agent or any Second Lien Claimholderthe other Claimholders, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting First Lien Priority ABL Obligations or Term Loan Obligations, as applicable in reliance hereof. Each of First Lien Agent and Second Lien Agent 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. 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 such any Grantor (as the 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).

Appears in 1 contract

Samples: Term Loan Intercreditor Agreement (U.S. Silica 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 subordination and First Lien the Revolving Credit Claimholders and Term Loan Claimholders may continue, at any time and without notice to Second Lien Agent or any Second Lien ClaimholderAgent, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor constituting First Lien Priority Obligations in reliance hereofhereon. Each of First Lien Agent the Agents, on behalf of itself and Second Lien Agent the Revolving Credit Claimholders or the Term Loan Claimholders, as the case may be, 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 during and after the commencement of an Insolvency or Liquidation Proceeding. 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 such any Grantor (as the 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 subordination and First Lien Senior Claimholders may continuecontinue (subject to the terms hereof), at any time and without notice to Second Lien Agent Subordinated Creditor or any Second Lien other Subordinated Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor Obligor constituting First Lien Priority Senior Obligations in reliance hereof. Each of First Lien Agent Senior Creditor, other Senior Claimholders, Subordinated Creditor and Second Lien Agent each other Subordinated Claimholder 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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-debtor in possession and any receiver or trustee for such Grantor Obligor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:.

Appears in 1 contract

Samples: Intercreditor and Subordination Agreement (Layne Christensen 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 and the First Lien Claimholders Secured Parties may continue, at any time and without notice to the Second Lien Collateral Agent or any other Second Lien ClaimholderSecured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor the Grantors constituting First Lien Priority Obligations in reliance hereofhereon. Each of First Lien Agent and The Second Lien Agent Collateral Agent, on behalf of itself and the Second Lien Secured Parties, 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. 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 such any Grantor (as the 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 (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 Each IPCO Notes Trustee, on behalf of lien subordination itself and First Lien Claimholders may continuethe applicable IPCO Notes Claimholders, at any time and without notice to Second Lien Agent or any Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations in reliance hereof. Each of First Lien Agent and Second Lien Agent 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 Proceedingor Liquidation Proceeding with respect to any Obligor. 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 or trustee for such Grantor Obligor (as the case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:effect upon the earlier of (i) the date the Term Loan Obligations shall have been paid in full in cash and (ii) the date the call right has been consummated in accordance with Section 2.

Appears in 1 contract

Samples: Call Right 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 subordination and the First Lien Claimholders may continue, at any time and without notice to Second Lien Agent or any Second Lien Claimholder, to extend credit and other financial accommodations and lend monies to or for the benefit of any Grantor the Borrower constituting First Lien Priority Obligations in reliance hereofhereon. Each of First Lien Agent and Second Lien Agent Claimholder 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, survive and shall continue in full force and effect, effect in any Insolvency or Liquidation Proceeding. 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 such Grantor (as the 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 (CareView Communications 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 and First Lien Claimholders may continue, at any time and without notice to Second Lien Agent or any Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations in reliance hereof. Each of First Lien Agent and Second Lien Agent Agent, for itself and the Second 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 Lender for the such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Starboard Resources, 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 and the First Lien Claimholders may continue, at any time and without notice to the Second Lien Agent Agents or any Second Lien ClaimholderClaimholder 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 grantor constituting First Lien Priority Obligations in reliance hereof. Each of First Lien Agent and The Second Lien Agent Agents, on behalf of themselves and the Second Lien Claimholders, hereby waives waive any right it 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 Proceeding. 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 Grantor other grantor shall include the Company or such Grantor grantor as debtor and debtor-in-possession and any receiver or trustee for such Grantor the Company or any other grantor (as the case may be) in any Insolvency 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 and the First Lien Claimholders may continue, at any time and without notice to Second Lien Agent Agent, any Permitted Additional Second Lien Obligations Representative, or any other Second Lien Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Priority Obligations Debt in reliance hereof. Each of First Lien Agent and Second Lien Agent 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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 debtor‑in‑possession and any receiver or trustee for such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Intercreditor Agreement (Erickson 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 and First Lien Revolver Claimholders may continue, at any time and without notice to Second Lien Term Loan Agent or any Second Lien Term Loan Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting First Lien Revolver Priority Obligations in reliance hereof. Each This is a continuing agreement of First Lien lien subordination and Term Loan Claimholders may continue, at any time and without notice to Revolver Agent or any Revolver Claimholder, to extend credit and other financial accommodations to or for the benefit of any Grantor constituting Term Loan Priority Obligations in reliance hereof. Term Loan Agent and Second Lien Revolver Agent each 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 Proceeding. Any provision of this Agreement that is prohibited or unenforceable 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-in possession and any receiver, interim receiver or trustee for the such Grantor in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect:

Appears in 1 contract

Samples: Senior Term Loan Credit Agreement (Bumble Bee Capital Corp.)

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