506(c) Claims. Until the Discharge of First Priority Obligations has occurred, each Second Priority Representative, on behalf of itself and each Second Priority Secured Party under its Second Priority Debt Facility, agrees that it will not assert or enforce any claim under Section 506(c) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law senior to or on a parity with the Liens securing the First Priority Obligations for costs or expenses of preserving or disposing of any Shared Collateral.
Appears in 3 contracts
Samples: First Lien/Second Lien Intercreditor Agreement (Geo Group Inc), Junior Priority Intercreditor Agreement (Ocwen Financial Corp), Indenture (Ocwen Financial Corp)
506(c) Claims. Until the Discharge of First Priority Debt Obligations has occurred, each Second Priority Representative, on behalf of itself and each other Second Priority Secured Party under its Second Priority Debt Facility, agrees that it will not assert or enforce any claim under Section 506(c) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law senior to or on a parity with the Liens securing the First Priority Debt Obligations for costs or expenses of preserving or disposing of any Shared Collateral.
Appears in 2 contracts
Samples: First Lien Credit Agreement (KC Holdco, LLC), Second Lien Credit Agreement (KC Holdco, LLC)
506(c) Claims. Until the Discharge of First Priority Obligations has occurred, each the Second Priority Representative, on behalf of itself and each other Second Priority Secured Party under its Second Priority Debt FacilityParty, agrees that it will not assert or enforce any claim under Section section 506(c) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law senior to or on a parity with the Liens securing the First Priority Obligations for costs or expenses of preserving or disposing of any Shared Collateral.
Appears in 1 contract
