Common use of Single Class Clause in Contracts

Single Class. The Trustee, each Additional Senior Secured Debt Representative and the Collateral Agent agree (on behalf of the Noteholders and the Additional Senior Secured Debt Holders which are deemed to agree) that (a) the grant of Liens pursuant to the Collateral Documents and any grant of Liens pursuant to any Additional Senior Secured Debt Documents constitutes a single grant of Liens for the ratable benefit of the Noteholders and the Additional Senior Secured Debt Holders and the Swap Creditors and (b) the Senior Secured Notes, the Additional Senior Secured Debt and the Secured Swap Obligations shall be classified as a single class of secured claims (or, if relevant, a single class of secured claims and a single class of unsecured claims) in any liquidation or plan of reorganization proposed or adopted in a bankruptcy, insolvency or liquidation case. To further effectuate the intent of the immediately preceding sentence, the Trustee, each Additional Senior Secured Debt Representative and the Collateral Agent agree (on behalf of the Noteholders and the Additional Senior Secured Debt Holders which are deemed to agree) that, if it is held that the claims of the Senior Secured Notes, the Additional Senior Secured Debt and the Secured Swap Obligations in respect of the Collateral constitute two classes of claims (rather than one class of secured claims or, if relevant, a single class of secured claims and a single class of unsecured claims), any distributions in respect of Collateral in any bankruptcy, insolvency or liquidation case that are made to any of them will be reallocated among the Noteholders, the Additional Senior Secured Debt Holders and the Swap Creditors as if there were a single class of secured claims (or, if relevant, a single class of secured claims and a single class of unsecured claims) against the Company and the Guarantors in respect of the Collateral in compliance with the priority of payments described in Section 4.05(a) above. Moreover, the Trustee each Additional Senior Secured Debt Representative and the Collateral Agent agree (on behalf of the Noteholders and the Additional Senior Secured Debt Holders which are deemed to agree) not to take actions, and not to initiate or prosecute or encourage any other Person to initiate or prosecute any claim, action, objection or other proceeding or otherwise assert any position inconsistent with the intent of the first sentence of this Section 4.05(d).

Appears in 2 contracts

Samples: Intercreditor and Collateral Agency Agreement, Intercreditor and Collateral Agency Agreement (Am-Pac Tire Dist. Inc.)

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Single Class. The Bridge Loan Agent, the Trustee, each Additional Senior Secured Debt Representative and the Collateral Agent agree (on behalf of the Noteholders and Noteholders, the Additional Senior Secured Debt Holders and the Bridge Lenders which are deemed to agree) that (a) the grant of Liens pursuant to the Collateral Documents and any grant of Liens pursuant to any Additional Senior Secured Debt Documents constitutes a single grant of Liens for the ratable benefit of the Noteholders and Series A-1 Noteholders, the Additional Senior Secured Debt Holders and the Swap Series A-2 Creditors and (b) the Senior Secured Series A-1 Notes, the Additional Senior Secured Debt and the Secured Swap Obligations Series A-2 Debt shall be classified as a single class of secured claims (or, if relevant, a single class of secured claims and a single class of unsecured claims) in any liquidation or plan of reorganization proposed or adopted in a bankruptcy, insolvency or liquidation case. To further effectuate the intent of the immediately preceding sentence, the Bridge Loan Agent, the Trustee, each Additional Senior Secured Debt Representative and the Collateral Agent agree (on behalf of the Noteholders and Noteholders, the Additional Senior Secured Debt Holders and the Bridge Lenders which are deemed to agree) that, if it is held that the claims of the Senior Secured Series A-1 Notes, the Additional Senior Secured Debt and the Secured Swap Obligations Series A-2 Debt in respect of the Collateral constitute two classes of claims (rather than one class of secured claims or, if relevant, a single class of secured claims and a single class of unsecured claims), any distributions in respect of Collateral in any bankruptcy, insolvency or liquidation case that are made to any of them will be reallocated among the Series A-1 Noteholders, the Additional Senior Secured Debt Holders and the Swap Series A-2 Creditors as if there were a single class of secured claims (or, if relevant, a single class of secured claims and a single class of unsecured claims) against the Company and the Guarantors in respect of the Collateral in compliance with the priority of payments described in Section 4.05(a) above. Moreover, the Trustee Bridge Loan Agent, the Trustee, each Additional Senior Secured Debt Representative and the Collateral Agent agree (on behalf of the Noteholders and Noteholders, the Additional Senior Secured Debt Holders and the Bridge Lenders which are deemed to agree) not to take actions, and not to initiate or prosecute or encourage any other Person to initiate or prosecute any claim, action, objection or other proceeding or otherwise assert any position inconsistent with the intent of the first sentence of this Section 4.05(d).

Appears in 1 contract

Samples: Intercreditor and Collateral Agency Agreement (Apria Healthcare Group Inc)

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Single Class. The Trustee, the Tranche 2 Representative, each Additional Senior Secured Debt Representative and the Collateral Agent agree (on behalf of the Noteholders and the Additional Senior Secured Debt Holders which are deemed to agree) that (a) the grant of Liens pursuant to the Collateral Documents and any grant of Liens pursuant to any Additional Senior Secured Debt Documents constitutes a single grant of Liens for the ratable benefit of the Noteholders Noteholders, the Tranche 2 Lenders and the Additional Senior Secured Debt Holders and the Swap Creditors and (b) the Senior Secured Notes, the Tranche 2 Sub-Facility Loans and the Additional Senior Secured Debt and the Secured Swap Obligations shall be classified as a single class of secured claims (or, if relevant, a single class of secured claims and a single class of unsecured claims) in any liquidation or plan of reorganization proposed or adopted in a bankruptcy, insolvency or liquidation case. To further effectuate the intent of the immediately preceding sentence, the Trustee, the Tranche 2 Representative, each Additional Senior Secured Debt Representative and the Collateral Agent agree (on behalf of the Noteholders and Noteholders, the Tranche 2 Lenders, the Additional Senior Secured Debt Holders which are deemed to agree) that, if it is held that the claims of the Senior Secured Notes, the Tranche 2 Sub-Facility Loans and the Additional Senior Secured Debt and the Secured Swap Obligations in respect of the Collateral constitute two classes more than one class of claims (rather than one class of secured claims or, if relevant, a single class of secured claims and a single class of unsecured claims), any distributions in respect of Collateral in any bankruptcy, insolvency or liquidation case that are made to any of them will be reallocated among the Noteholders, the Tranche 2 Lenders and the Additional Senior Secured Debt Holders and the Swap Creditors as if there were a single class of secured claims (or, if relevant, a single class of secured claims and a single class of unsecured claims) against the Company and the Subsidiary Guarantors in respect of the Collateral in compliance with the priority of payments described in Section 4.05(a) above. Moreover, the Trustee each Additional Senior Secured Debt Representative and the Collateral Agent agree (on behalf of the Noteholders and the Additional Senior Secured Debt Holders which are deemed to agree) not to take actions, and not to initiate or prosecute or encourage any other Person to initiate or prosecute any claim, action, objection or other proceeding or otherwise assert any position inconsistent with the intent of the first sentence of this Section 4.05(d).in

Appears in 1 contract

Samples: Intercreditor and Collateral Agency Agreement (Dominion Textile (Usa), L.L.C.)

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