Common use of ABL/Term Intercreditor Agreement Clause in Contracts

ABL/Term Intercreditor Agreement. This Agreement and the other Credit Documents are subject to the terms and conditions set forth in the ABL/Term Intercreditor Agreement in all respects and, in the event of any conflict between the terms of the ABL/Term Intercreditor Agreement and this Agreement, the terms of ABL/Term Intercreditor Agreement shall govern. Notwithstanding anything herein to the contrary, the Lien and security interest granted to the Collateral Agent pursuant to any Credit Document and the exercise of any right or remedy in respect of the Collateral by the Collateral Agent (or any Secured Creditor) hereunder or under any other Credit Document are subject to the provisions of the ABL/Term Intercreditor Agreement and in the event of any conflict between the terms of the ABL/Term Intercreditor Agreement, this Agreement and any other Credit Document, the terms of the ABL/Term Intercreditor Agreement shall govern and control with respect to the exercise of any such right or remedy. Without limiting the generality of the foregoing, and notwithstanding anything herein to the contrary, no Credit Party shall be required hereunder or under any Credit Document to take any action with respect to the Collateral that is inconsistent with such Credit Parties’ obligations under the ABL/Term Intercreditor Agreement. Prior to the Discharge of Fixed Asset Obligations (as defined in the ABL/Term Intercreditor Agreement), the delivery or granting of “control” (as defined in the UCC) of any Fixed Asset Priority Collateral (as defined in the ABL/Term Intercreditor Agreement) to the Controlling Fixed Asset Collateral Agent (as defined in the ABL/Term Intercreditor Agreement) shall satisfy any such delivery or granting of “control” requirement hereunder or under any other Credit Document with respect to any Fixed Assets Priority Collateral (as defined in the ABL/Term Intercreditor Agreement) to the extent that such deliver or granting of “control” is consistent with the terms of the ABL/Term Intercreditor Agreement. [Remainder of this page intentionally left blank; signature page follows]

Appears in 1 contract

Samples: Credit Agreement (Performance Sports Group Ltd.)

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ABL/Term Intercreditor Agreement. This Agreement and the other Credit Documents are subject to the terms and conditions set forth in the ABL/Term Intercreditor Agreement in all respects and, in the event of any conflict between the terms of the ABL/Term Intercreditor Agreement and this Agreement, the terms of ABL/Term Intercreditor Agreement shall govern. Notwithstanding anything herein to the contrary, the Lien and security interest granted to the Collateral Agent Pledgee pursuant to any Credit Document and the exercise of any right or remedy in respect of the Collateral by the Collateral Agent Pledgee (or any Secured Creditor) hereunder or under any other Credit Document are subject to the provisions of the ABL/Term Intercreditor Agreement and in the event of any conflict between the terms of the ABL/Term Intercreditor Agreement, this Agreement and any other Credit Document, the terms of the ABL/Term Intercreditor Agreement shall govern and control with respect to the exercise of any such right or remedy. Without limiting the generality of the foregoing, and notwithstanding anything herein to the contrary, no Credit Party shall be required hereunder or under any Credit Document to take any action with respect to the Collateral that is inconsistent with such Credit Parties’ obligations under the ABL/Term Intercreditor Agreement. Prior to the Discharge of Fixed Asset Obligations (as defined in the ABL/Term Intercreditor Agreement), the delivery or granting of “control” (as defined in the UCC) of any Fixed Asset Priority Collateral (as defined in the ABL/Term Intercreditor Agreement) to the Controlling collateral agent under the Term Loan Credit Agreement pursuant to the terms of the Fixed Asset Collateral Agent Documents (as defined in the ABL/Term Intercreditor Agreement) shall satisfy any such delivery or granting of “control” requirement hereunder or under any other Credit Document with respect to any Fixed Assets Priority Asset Collateral (as defined in the ABL/Term Intercreditor Agreement) to the extent that such deliver delivery or granting of “control” is consistent with the terms of the ABL/Term Intercreditor Agreement. [Remainder of this page intentionally left blank; signature page follows]* * * *

Appears in 1 contract

Samples: Credit Agreement (Performance Sports Group Ltd.)

ABL/Term Intercreditor Agreement. This Agreement and the other Credit Documents are subject to the terms and conditions set forth in the ABL/Term Intercreditor Agreement in all respects and, in the event of any conflict between the terms of the ABL/Term Intercreditor Agreement and this Agreement, the terms of ABL/Term Intercreditor Agreement shall govern. Notwithstanding anything herein to the contrary, the Lien and security interest granted to the Collateral Agent pursuant to any Credit Document and the exercise of any right or remedy in respect of the Collateral by the Collateral Agent (or any Secured Creditor) hereunder or under any other Credit Document are subject to the provisions of the ABL/Term Intercreditor Agreement and in the event of any conflict between the terms of the ABL/Term Intercreditor Agreement, this Agreement and any other Credit Document, the terms of the ABL/Term Intercreditor Agreement shall govern and control with respect to the exercise of any such right or remedy. Without limiting the generality of the foregoing, and notwithstanding anything herein to the contrary, no Credit Party shall be required hereunder or under any Credit Document to take any action with respect to the Collateral that is inconsistent with such Credit Parties' obligations under the ABL/Term Intercreditor Agreement. Prior to the Discharge of Fixed Asset Obligations (as defined in the ABL/Term Intercreditor Agreement), the delivery or granting of "control" (as defined in the UCCPPSA) of any Fixed Asset Priority Collateral (as defined in the ABL/Term Intercreditor Agreement) to the Controlling Fixed Asset Collateral Agent (as defined in the ABL/Term Intercreditor Agreement) shall satisfy any such delivery or granting of "control" requirement hereunder or under any other Credit Document with respect to any Fixed Assets Priority Collateral (as defined in the ABL/Term Intercreditor Agreement) to the extent that such deliver or granting of "control" is consistent with the terms of the ABL/Term Intercreditor Agreement. [Remainder of this page intentionally left blank; signature page followspages follow]

Appears in 1 contract

Samples: Credit Agreement (Performance Sports Group Ltd.)

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ABL/Term Intercreditor Agreement. This Agreement and the other Credit Documents are subject to the terms and conditions set forth in the ABL/Term Intercreditor Agreement in all respects and, in the event of any conflict between the terms of the ABL/Term Intercreditor Agreement and this Agreement, the terms of ABL/Term Intercreditor Agreement shall govern. Notwithstanding anything herein to the contrary, the Lien and security interest granted to the Collateral Agent pursuant to any Credit Document and the exercise of any right or remedy in respect of the Collateral by the Collateral Agent (or any Secured Creditor) hereunder or under any other Credit Document are subject to the provisions of the ABL/Term Intercreditor Agreement and in the event of any conflict between the terms of the ABL/Term Intercreditor Agreement, this Agreement and any other Credit Document, the terms of the ABL/Term Intercreditor Agreement shall govern and control with respect to the exercise of any such right or remedy. Without limiting the generality of the foregoing, and notwithstanding anything herein to the contrary, no Credit Party shall be required hereunder or under any Credit Document to take any action with respect to the Collateral that is inconsistent with such Credit Parties' obligations under the ABL/Term Intercreditor Agreement. Prior to the Discharge of Fixed Asset Obligations (as defined in the ABL/Term Intercreditor Agreement), the delivery or granting of "control" (as defined in the UCC) of any Fixed Asset Priority Collateral (as defined in the ABL/Term Intercreditor Agreement) to the Controlling collateral agent under the Term Loan Credit Agreement pursuant to the terms of the Fixed Asset Collateral Agent Documents (as defined in the ABL/Term Intercreditor Agreement) shall satisfy any such delivery or granting of "control" requirement hereunder or under any other Credit Document with respect to any Fixed Assets Priority Asset Collateral (as defined in the ABL/Term Intercreditor Agreement) to the extent that such deliver delivery or granting of "control" is consistent with the terms of the ABL/Term Intercreditor Agreement. [Remainder of this page intentionally left blank; signature page follows].

Appears in 1 contract

Samples: Credit Agreement (Performance Sports Group Ltd.)

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