Senior Liens. (a) If at any time Navistar Financial desires to subordinate the Trustee’s Security Interest in any cash, marketable securities or Equipment and any Proceeds thereof to a Lien (a “Senior Lien”) on such Collateral that is not prohibited by any Secured Instrument, Navistar Financial shall deliver to the Trustee (and concurrently deliver to the Administrative Agent for distribution to each of the Lenders) a certificate of a Responsible Officer:
Appears in 3 contracts
Samples: Security Agreement (Navistar International Corp), Purchase Agreement (Navistar Financial Corp), Servicing Agreement (Navistar Financial Corp)
Senior Liens. (a) If at any time Navistar Financial desires to subordinate the Trustee’s 's Security Interest in any cash, marketable securities or Equipment and any Proceeds thereof to a Lien (a “"Senior Lien”") on such Collateral that is not prohibited by any Secured Instrument, Navistar Financial shall deliver to the Trustee (and concurrently deliver to the Administrative Agent for distribution to each of the Lenders) a certificate of a Responsible Officer:
Appears in 1 contract
Samples: Agreement (Navistar Financial Corp)
Senior Liens. (a) If at any time Navistar Financial desires to subordinate the Trustee’s Security Interest in any cash, marketable securities Marketable Securities or Equipment and any Proceeds thereof to a Purchase Money Lien (a “Senior Lien”) on such Collateral that is not prohibited by any Secured Instrument, then so long as after giving effect to such proposed Senior Lien the aggregate principal amount of all outstanding Indebtedness will not to exceed $10,000,000, Navistar Financial shall deliver to the Trustee (and concurrently deliver to the Administrative Agent for distribution to each of the Lenders) a certificate of a Responsible Officer:
Appears in 1 contract
Samples: Security, Pledge and Trust Agreement (Navistar International Corp)
