Examples of Senior Lien Collateral Agent in a sentence
The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the Senior Lien Collateral Agent and the other Senior Lien Claimholders on the one hand and the Junior Lien Collateral Agent and the other Junior Lien Claimholders on the other hand.
Unless and until the Discharge of Senior Lien Obligations has occurred, the Senior Lien Collateral Agent and the other Senior Lien Claimholders shall have the sole and exclusive right, subject to the rights of the Grantors under the Senior Lien Loan Documents, to adjust settlement for any insurance policy covering the Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the Collateral.
The Senior Lien Collateral Agent is hereby authorized to make any such endorsements as agent for the Junior Lien Collateral Agent or any such other Junior Lien Claimholder.
The Company acknowledges and agrees that the value of any payments or distributions in cash, property or other assets received by the Junior Lien Collateral Agent or the Junior Lien Claimholders that are paid over to the Senior Lien Collateral Agent or the Senior Lien Claimholders pursuant to this Agreement shall not reduce any of the Junior Lien Obligations.
The Junior Lien Collateral Agent, on behalf of itself and each other Junior Lien Claimholder, acknowledges and agrees that none of the Senior Lien Collateral Agent or any other Senior Lien Claimholder has made any express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the Senior Lien Loan Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon.