Common use of No Contest Clause in Contracts

No Contest. The Collateral Agent, on behalf of itself, the Trustee, and the Noteholders, agrees that, prior to the Discharge of Loan Agreement Secured Obligations, none of them shall contest (or support any other Person contesting) (a) any request by the Agent or any Lender for adequate protection, or (b) any objection by the Agent or any Lender to any motion, relief, action, or proceeding based on Agent or any Lender claiming that their interests in the Lender Priority Collateral are not adequately protected or any other similar request under any law applicable to an Insolvency Proceeding. Notwithstanding the foregoing, in any Insolvency Proceeding, if the Agent or any Lender is granted adequate protection in the form of additional collateral in connection with any DIP Financing or use of cash collateral under Section 363 or Section 364 of Title 11 of the United States Code or any similar provision under the law applicable to any Insolvency Proceeding, then the Collateral Agent, on behalf of itself, the Trustee, or any of the Noteholders, may seek or request adequate protection in the form of a Lien on such additional collateral, which Lien hereby is and shall be deemed to be subordinated to the Liens securing the Loan Agreement Secured Obligations up to (but not in excess of) the Maximum Priority Debt Amount and such DIP Financing (and all obligations relating thereto) on the same basis as the Lien Priority. The Agent, on behalf of itself and the Lenders, agrees that until the Indenture Secured Obligations are paid in full in cash, none of them shall contest (or support any other Person contesting) (a) any request by the Collateral Agent or any Noteholder for adequate protection in the Indenture Priority Collateral or the Indenture Exclusive Collateral, or (b) any objection by the Collateral Agent or any Noteholder to any motion, relief, action, or proceeding based on Collateral Agent or any Noteholder claiming that their interests in the Indenture

Appears in 1 contract

Samples: Intercreditor and Lien Subordination Agreement (155 East Tropicana, LLC)

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No Contest. The Collateral Agent, on behalf of itself, the Trustee, and the Noteholders, agrees that, prior to the Discharge of Loan Agreement Secured Obligations, none of them shall contest (or support any other Person contesting) (a) any request by the Agent or any Lender for adequate protection, or (b) any objection by the Agent or any Lender to any motion, relief, action, or proceeding based on Agent or any Lender claiming that their interests its interest in the Lender Priority Collateral are is not adequately protected or any other similar request under any law applicable to an Insolvency Proceeding. Notwithstanding the foregoing, in any Insolvency Proceeding, if the Agent or any Lender is granted adequate protection in the form of additional collateral in connection with any DIP Financing or use of cash collateral under Section 363 or Section 364 of Title 11 of the United States Code or any similar provision under the law applicable to any Insolvency Proceeding, then the Collateral Agent, on behalf of itself, the Trustee, or any of the Noteholders, may seek or request adequate protection in the form of a Lien on such additional collateral, which Lien hereby is and shall be deemed to be subordinated to the Liens securing the Loan Agreement Secured Obligations up to (but not in excess of) the Maximum Priority Debt Amount and such DIP Financing (and all obligations relating thereto) on the same basis as the Lien Priority. The In the event the Collateral Agent, on behalf of itself itself, the Trustee, and the LendersNoteholders, seeks or requests adequate protection and such adequate protection is granted in the form of Liens in respect of additional collateral, then the Collateral Agent, on behalf of itself, the Trustee, and each of the Noteholders, agrees that until the Lender also shall be granted a senior Lien on such additional collateral as security for the Loan Agreement Secured Obligations (and for any such DIP Financing) and that any Lien on such additional collateral securing the Indenture Secured Obligations shall be subordinated to the Liens in respect of such additional collateral securing the Loan Agreement Secured Obligations and any such DIP Financing and any other Liens granted to the Lender as adequate protection on the same basis as the other Liens securing the Indenture Secured Obligations are paid subordinated to the Loan Agreement Secured Obligations under this Agreement up to the Maximum Priority Debt Amount. Nothing contained herein shall prohibit or in full any way limit the Lender, prior to the Discharge of Loan Agreement Secured Obligations, from objecting in cash, none of them shall contest (any Insolvency Proceeding or support otherwise to any other Person contesting) (a) any request action taken by the Collateral Agent Agent, the Trustee or any of the Noteholders, including the seeking by the Collateral Agent, the Trustee or any Noteholder for of adequate protection in the Indenture Priority Collateral or the Indenture Exclusive Collateral, or (b) any objection asserting by the Collateral Agent Agent, the Trustee or any Noteholder to of any motion, relief, action, of its rights and remedies under the Indenture Loan Documents or proceeding based on Collateral Agent or any Noteholder claiming that their interests in the Indentureotherwise.

Appears in 1 contract

Samples: Intercreditor Agreement (Empire Resorts Inc)

No Contest. The Collateral Agent, on behalf of itself, the Trustee, and the Noteholders, agrees that, prior to the Discharge of the Loan Agreement Secured Obligations, none of them shall contest (or support any other Person contesting) (a) any request by the Agent or any Lender Agent, for and on behalf of itself and the Lenders, for adequate protection, or (b) any objection by the Agent or any Lender Agent, for and on behalf of itself and the Lenders, to any motion, relief, action, or proceeding based on the Agent or any Lender claiming that their interests in the Lender Priority Collateral are not adequately protected or any other similar request under any law applicable to an Insolvency or Liquidation Proceeding. Notwithstanding the foregoing, in any Insolvency or Liquidation Proceeding, if the Agent or any Lender Agent, for and on behalf of itself and the Lenders, is granted adequate protection in the form of additional collateral in connection with any DIP Financing or use of cash collateral under Section 363 or Section 364 of Title 11 of the United States Bankruptcy Code or any similar provision under the law applicable to any Insolvency or Liquidation Proceeding, then the Collateral Agent, on behalf of itself, the Trustee, or and any of the Noteholders, may seek or request adequate protection in the form of a Lien on such additional collateral, which Lien hereby is and shall be deemed to be subordinated to the Liens securing the Loan Agreement Secured Obligations up to (but not in excess of) the Maximum Lender Priority Debt Amount and such DIP Financing (and all obligations relating thereto) on the same basis as the Lien Priority. The In the event the Collateral Agent, on behalf of itself itself, the Trustee, and the LendersNoteholders, seeks or requests adequate protection and such adequate protection is granted in the form of Liens in respect of additional collateral, then the Collateral Agent, on behalf of itself, the Trustee, and each of the Noteholders, agrees that until the Agent also shall be granted a senior Lien on such additional collateral as security for the Loan Agreement Secured Obligations (and for any such DIP Financing), that any Lien on such additional collateral securing the Indenture Secured Obligations shall be subordinated to the Liens in respect of such additional collateral securing the Loan Agreement Secured Obligations, and any such DIP Financing and any other Liens granted to the Agent as adequate protection on the same basis as the other Liens securing the Indenture Secured Obligations are paid subordinated to the Loan Agreement Secured Obligations under this Agreement up to the Maximum Lender Priority Debt Amount. All such Liens granted to the Agent or to the Collateral Agent in full respect of such additional collateral shall be subject to the Lien Priority. Nothing contained herein shall prohibit or in cashany way limit the Agent, none prior to the Discharge of them shall contest (the Loan Agreement Secured Obligations, from objecting in any Insolvency or support Liquidation Proceeding or otherwise to any other Person contesting) (a) any request action taken by the Collateral Agent Agent, the Trustee or any of the Noteholders, including the seeking by the Collateral Agent, the Trustee or any Noteholder for of adequate protection in the Indenture Priority Collateral or the Indenture Exclusive Collateral, or (b) any objection asserting by the Collateral Agent Agent, the Trustee or any Noteholder to of any motion, relief, action, of its rights and remedies under the Noteholder Documents or proceeding based on Collateral Agent or any Noteholder claiming that their interests in the Indentureotherwise.

Appears in 1 contract

Samples: Intercreditor and Lien Subordination Agreement (GNLV Corp)

No Contest. The Collateral Agent, on behalf of itself, the Trustee, and the Noteholders, agrees that, prior to the Discharge of Loan Agreement Secured Obligations, none of them shall contest (or support any other Person contesting) (a) any request by the Agent or any Lender for adequate protection, or (b) any objection by the Agent or any Lender to any motion, relief, action, or proceeding based on Agent or any Lender claiming that their interests in the Lender Priority Collateral are not adequately protected or any other similar request under any law applicable to an Insolvency Proceeding. Notwithstanding the foregoing, in any Insolvency Proceeding, if the Agent or any Lender is granted adequate protection in the form of additional collateral in connection with any DIP Financing or use of cash collateral under Section 363 or Section 364 of Title 11 of the United States Code or any similar provision under the law applicable to any Insolvency Proceeding, then the Collateral Agent, on behalf of itself, the Trustee, or any of the Noteholders, may seek or request adequate protection in the form of a Lien on such additional collateral, which Lien hereby is and shall be deemed to be subordinated to the Liens securing the Loan Agreement Secured Obligations up to (but not in excess of) the Maximum Priority Debt Amount and such DIP Financing (and all obligations relating thereto) on the same basis as the Lien Priority. The In the event the Collateral Agent, on behalf of itself itself, the Trustee, and the LendersNoteholders, seeks or requests adequate protection and such adequate protection is granted in the form of Liens in respect of additional collateral, then the Collateral Agent, on behalf of itself, the Trustee, and each of the Noteholders, agrees that until the Lender also shall be granted a senior Lien on such additional collateral as security for the Loan Agreement Secured Obligations (and for any such DIP Financing) and that any Lien on such additional collateral securing the Indenture Secured Obligations shall be subordinated to the Liens in respect of such additional collateral securing the Loan Agreement Secured Obligations and any such DIP Financing and any other Liens granted to the Lender as adequate protection on the same basis as the other Liens securing the Indenture Secured Obligations are paid subordinated to the Loan Agreement Secured Obligations under this Agreement up to the Maximum Priority Debt Amount. Nothing contained herein shall prohibit or in full any way limit the Lender, prior to the Discharge of Loan Agreement Secured Obligations, from objecting in cash, none of them shall contest (any Insolvency Proceeding or support otherwise to any other Person contesting) (a) any request action taken by the Collateral Agent Agent, the Trustee or any of the Noteholders, including the seeking by the Collateral Agent, the Trustee or any Noteholder for of adequate protection in the Indenture Priority Collateral or the Indenture Exclusive Collateral, or (b) any objection asserting by the Collateral Agent Agent, the Trustee or any Noteholder to of any motion, relief, action, of its rights and remedies under the Indenture Loan Documents or proceeding based on Collateral Agent or any Noteholder claiming that their interests in the Indentureotherwise.

Appears in 1 contract

Samples: Subordination Agreement (Mortons Restaurant Group Inc)

No Contest. The Collateral Agent, on behalf of itself, the Trustee, and the Noteholders, agrees that, prior to the Discharge of Loan First Priority Credit Agreement Secured Obligations, none of them shall contest (or support any other Person contesting) (a) any request by the Senior Agent or any Lender for adequate protection, or (b) any objection by the Senior Agent or any Lender to any motion, relief, action, or proceeding based on Senior Agent or any Lender claiming that their interests in the Lender Priority Collateral are not adequately protected or any other similar request under any law applicable to an Insolvency Proceeding. Notwithstanding the foregoing, in any Insolvency Proceeding, if the Senior Agent or any Lender is granted adequate protection in the form of additional collateral in connection with any DIP Financing or use of cash collateral under Section 363 or Section 364 of Title 11 of the United States Code or any similar provision under the law applicable to any Insolvency Proceeding, then the Collateral Agent, on behalf of itself, the Trustee, or any of the Noteholders, may seek or request adequate protection in the form of a Lien on such additional collateral, which Lien hereby is and shall be deemed to be subordinated to the Liens securing the Loan Credit Agreement Secured Obligations on the same basis as the Lien Priority up to (but not in excess of) the sum of (i) the Maximum Priority Debt Amount and (ii) the amount of such DIP Financing (and all obligations relating theretothereto and any “carve-out” for professional fees and expenses and United States Trustee fees agreed to by the Senior Agent). In the event the Collateral Agent, on behalf of itself, the Trustee, and the Noteholders, seeks or requests adequate protection and such adequate protection is granted in the form of Liens in respect of additional collateral, then the Collateral Agent, on behalf of itself, the Trustee, and each of the Noteholders, agrees that the Senior Agent also shall be granted a senior Lien on such additional collateral as security for the Credit Agreement Secured Obligations (and for any such DIP Financing) and that any Lien on such additional collateral securing the Indenture Secured Obligations shall be subordinated to the Liens in respect of such additional collateral securing the Credit Agreement Secured Obligations and any such DIP Financing and any other Liens granted to the Senior Agent as adequate protection on the same basis as the Lien Priority. The Agent, on behalf of itself and the Lenders, agrees that until other Liens securing the Indenture Secured Obligations are paid subordinated to the Credit Agreement Secured Obligations under this Agreement up to the sum of (i) the Maximum Priority Debt Amount and (ii) the amount of such DIP Financing (and all obligations related thereto and any “carve-out” for professional fees and expenses and United States Trustee fees agreed to by the Senior Agent). Nothing contained herein shall prohibit or in full any way limit the Senior Agent, prior to the Discharge of First Priority Credit Agreement Secured Obligations, from objecting in cash, none of them shall contest (any Insolvency Proceeding or support otherwise to any other Person contesting) (a) any request action taken by the Collateral Agent Agent, the Trustee or any of the Noteholders, including the seeking by the Collateral Agent, the Trustee or any Noteholder for of adequate protection in the Indenture Priority Collateral or the Indenture Exclusive Collateral, or (b) any objection asserting by the Collateral Agent Agent, the Trustee or any Noteholder to of any motion, relief, action, of its rights and remedies under the Indenture Agreements or proceeding based on Collateral Agent or any Noteholder claiming that their interests in the Indentureotherwise.

Appears in 1 contract

Samples: Intercreditor and Lien Subordination Agreement (Altra Holdings, Inc.)

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No Contest. The Collateral AgentTrustee, on behalf of itself, the Trustee, itself and the Noteholders, agrees that, prior to the Discharge of Loan Agreement Secured Obligations, none of them shall contest (or support any other Person contesting) (a) any request by the Agent or any Lender Agent, for and on behalf of itself and the Lenders, for adequate protection, or (b) any objection by the Agent or any Lender Agent, for and on behalf of itself and the Lenders, to any motion, relief, action, or proceeding based on Agent or any Lender Agent, for and on behalf of itself and the Lenders, claiming that their interests in the Lender Priority Collateral are not adequately protected or any other similar request under any law applicable to an Insolvency Proceeding. Notwithstanding the foregoing, in any Insolvency Proceeding, if the Agent or any Lender Agent, for and on behalf of itself and the Lenders, is granted adequate protection in the form of additional collateral in connection with any DIP Financing or use of cash collateral under Section 363 or Section 364 of Title 11 of the United States Code or any similar provision under the law applicable to any Insolvency Proceeding, then the Collateral AgentTrustee, on behalf of itself, the Trustee, itself or any of the Noteholders, may seek or request adequate protection in the form of a Lien on such additional collateral, which Lien hereby is and shall be deemed to be subordinated to the Liens securing the Loan Agreement Secured Obligations up to (but not in excess of) the Maximum Priority Debt Amount and such DIP Financing (and all obligations relating thereto) on the same basis as the Lien Priority. The AgentIn the event the Trustee, on behalf of itself and the LendersNoteholders, seeks or requests adequate protection and such adequate protection is granted in the form of Liens in respect of additional collateral, then the Trustee, on behalf of itself and each of the Noteholders, agrees that until the Agent also shall be granted a senior Lien on such additional collateral as security for the Loan Agreement Secured Obligations (and for any such DIP Financing) and that any Lien on such additional collateral securing the Indenture Secured Obligations shall be subordinated to the Liens in respect of such additional collateral securing the Loan Agreement Secured Obligations and any such DIP Financing and any other Liens granted to the Agent as adequate protection on the same basis as the other Liens securing the Indenture Secured Obligations are paid subordinated to the Loan Agreement Secured Obligations under this Agreement up to the Maximum Priority Debt Amount. Nothing contained herein shall prohibit or in full any way limit the Agent, prior to the Discharge of Loan Agreement Secured Obligations, from objecting in cash, none of them shall contest (any Insolvency Proceeding or support otherwise to any other Person contesting) (a) any request action taken by the Collateral Agent Trustee or any of the Noteholders, including the seeking by the Trustee or any Noteholder for of adequate protection in the Indenture Priority Collateral or the Indenture Exclusive Collateral, or (b) any objection asserting by the Collateral Agent Trustee or any Noteholder to of any motion, relief, action, of its rights and remedies under the Indenture Loan Documents or proceeding based on Collateral Agent or any Noteholder claiming that their interests in the Indentureotherwise.

Appears in 1 contract

Samples: Intercreditor and Lien Subordination Agreement (Majestic Star Casino LLC)

No Contest. The Collateral Agent, on behalf of itself, the Trustee, and the Noteholders, agrees that, prior to the Discharge of Loan Agreement Secured Obligations, none of them shall contest (or support any other Person contesting) (a) any request by the Agent or any Lender for adequate protection, or (b) any objection by the Agent or any Lender to any motion, relief, action, or proceeding based on Agent or any Lender claiming that their interests in the Lender Priority Collateral are not adequately protected or any other similar request under any law applicable to an Insolvency Proceeding. Notwithstanding the foregoing, in any Insolvency Proceeding, if the Agent or any Lender is granted adequate protection in the form of additional collateral in connection with any DIP Financing or use of cash collateral under Section 363 or Section 364 of Title 11 of the United States Code or any similar provision under the law applicable to any Insolvency Proceeding, then the Collateral Agent, on behalf of itself, the Trustee, or any of the Noteholders, may seek or request adequate protection in the form of a Lien on such additional collateral, which Lien hereby is and shall be deemed to be subordinated to the Liens securing the Loan Agreement Secured Obligations up to (but not in excess of) the Maximum Lender Priority Debt Amount and such DIP Financing (and all obligations relating thereto) on the same basis as the Lien Priority. The In the event the Collateral Agent, on behalf of itself itself, the Trustee, and the LendersNoteholders, seeks or requests adequate protection and such adequate protection is granted in the form of Liens in respect of additional collateral, then the Collateral Agent, on behalf of itself, the Trustee, and each of the Noteholders, agrees that until the Lender also shall be granted a Lien on such additional collateral as security for the Loan Agreement Secured Obligations (and for any such DIP Financing) and that any Lien on such additional collateral securing the Indenture Secured Obligations shall be subordinated to the Liens in respect of such additional collateral securing the Loan Agreement Secured Obligations and any such DIP Financing and any other Liens granted to the Lender as adequate protection on the same basis as the other Liens securing the Indenture Secured Obligations are paid subordinated to the Loan Agreement Secured Obligations under this Agreement up to the Maximum Lender Priority Debt Amount. All such Liens granted to the Lender or to the Collateral Agent in full respect of such additional collateral shall be subject to the Lien Priority. Nothing contained herein shall prohibit or in cashany way limit the Lender, none prior to the Discharge of them shall contest (Loan Agreement Secured Obligations, from objecting in any Insolvency Proceeding or support otherwise to any other Person contesting) (a) any request action taken by the Collateral Agent Agent, the Trustee or any of the Noteholders, including the seeking by the Collateral Agent, the Trustee or any Noteholder for of adequate protection in the Indenture Priority Collateral or the Indenture Exclusive Collateral, or (b) any objection asserting by the Collateral Agent Agent, the Trustee or any Noteholder to of any motion, relief, action, of its rights and remedies under the Indenture Loan Documents or proceeding based on Collateral Agent or any Noteholder claiming that their interests in the Indentureotherwise.

Appears in 1 contract

Samples: Subordination Agreement (Phibro Animal Health Corp)

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