Common use of Acknowledgement of Liens Clause in Contracts

Acknowledgement of Liens. The Second Lien Agent acknowledges and agrees that the First Lien Agent, for the benefit of itself, the First Lien Co-Agent and the First Lien Lenders, has been and may be granted Liens upon all of the Collateral in which the Second Lien Agent has been granted Liens and the Second Lien Agent hereby consents thereto. Each of First Lien Agent and First Lien Co-Agent acknowledges and agrees that Second Lien Agent, for the benefit of itself and the Second Lien Lenders, has been or, subject to the terms of this Agreement, may be granted Liens upon all of the Collateral in which the First Lien Agent and First Lien Co-Agent has been granted Liens and each of the First Lien Agent and First Lien Co-Agent hereby consents thereto. The Second Lien Agent agrees that neither it nor any Second Lien Lender shall obtain a Lien on any asset or Collateral to secure all or any portion of the Second Lien Indebtedness unless concurrently therewith, the First Lien Agent (on behalf of itself, the First Lien Co-Agent and the First Lien Lenders) obtains a Lien on such asset or Collateral and the parties hereby agree that all such Liens are and will be subject to this Agreement. The subordination of Liens and claims by the Second Lien Agent in favor of the First Lien Agent, the First Lien Co-Agent and the First Lien Lenders shall not be deemed to subordinate the Second Lien Agent's Liens or claims to the Liens or claims of any other Person that is not a holder of First Lien Indebtedness.

Acknowledgement of Liens. The Second Lien Agent acknowledges and agrees that the First Lien Agent, for the benefit of itself, the First Lien Co-Agent and the First Lien Lenders, has been and may be granted Liens upon all of the Collateral in which the Second Lien Agent has been granted Liens and the Second Lien Agent hereby consents thereto. Each of First Lien Agent and First Lien Co-Agent acknowledges and agrees that Second Lien Agent, for the benefit of itself and the Second Lien Lenders, has been or, subject to the terms of this Agreement, may be granted Liens upon all of the Collateral in which the First Lien Agent and First Lien Co-Agent has been granted Liens and each of the First Lien Agent and First Lien Co-Agent hereby consents thereto. The Second Lien Agent agrees that neither it nor any Second Lien Lender shall obtain a Lien on any asset or Collateral to secure all or any portion of the Second Lien Indebtedness unless concurrently therewith, the First Lien Agent (on behalf of itself, the First Lien Co-Agent and the First Lien Lenders) obtains a Lien on such asset or Collateral and the parties hereby agree that all such Liens are and will be subject to this Agreement. The subordination of Liens and claims by the Second Lien Agent in favor of the First Lien Agent, the First Lien Co-Agent and the First Lien Lenders shall not be deemed to subordinate the Second Lien Agent's Liens or claims to the Liens or claims of any other Person that is not a holder of First Lien Indebtedness.

Acknowledgement of Liens. The Second Lien Agent acknowledges and agrees that the First Lien Agent, for the benefit of itself, the First Lien Co-Agent and the First Lien Lenders, has been and may be granted Liens upon all of the Collateral in which the Second Lien Agent has been granted Liens and the Second Lien Agent hereby consents thereto. Each of First Lien Agent and First Lien Co-Agent acknowledges and agrees that Second Lien Agent, for the benefit of itself and the Second First Lien Lenders, has been or, subject to the terms of this Agreement, may be granted Liens upon all of the Collateral in which the First Second Lien Agent and First Lien Co-Agent has been granted Liens and each of the Second Lien Agent hereby consents thereto. First Lien Agent acknowledges and agrees that Second Lien Agent has been granted Liens upon all of the Collateral in which First Lien Agent has been granted Liens and First Lien Co-Agent hereby consents thereto. The Second Lien Agent agrees that neither it nor any Second Lien Lender shall obtain a Lien on any asset or Collateral to secure all or any portion of the Second Lien Indebtedness unless concurrently therewith, the First Lien Agent (on behalf of itself, the First Lien Co-Agent and the First Lien Lenders) obtains a Lien on such asset or Collateral and the parties hereby agree that all such Liens are and will be subject to this Agreement. The subordination of Liens and claims by the Second Lien Agent in favor of the First Lien Agent, the First Lien Co-Agent and the First Lien Lenders shall not be deemed to subordinate the Second Lien Agent's ’s Liens or claims to the Liens or claims of any other Person that is not a holder of First Lien Indebtedness. So long as the Discharge of First Lien Priority Indebtedness has not occurred, (i) Second Lien Agent and each Second Lien Lender agrees that it shall not acquire or hold any Lien on any asset or property to secure any Second Lien Indebtedness unless a Lien on such asset or property to secure the First Lien Indebtedness has been offered to be granted, and granted if accepted, and (ii) First Lien Agent and each First Lien Lender agrees that it shall not acquire or hold any Lien on any asset or property to secure any First Lien Indebtedness unless a Lien on such asset or property to secure the Second Lien Indebtedness has been offered to be granted, and granted if accepted.

Acknowledgement of Liens. The Second Lien Agent acknowledges and agrees that the First Lien Agent, for the benefit of itself, the First Lien Co-Holdings Agent and the First Lien Lenders, Holdings Lenders acknowledge and agree that Aimco Agent has been and may be granted Liens upon all of the Collateral in which the Second Lien and Holdings Agent has been granted Liens and the Second Lien Agent Holdings Lenders hereby consents consent thereto. Each Except as to the Additional Holdings Loan Collateral, each of First Lien Holdings Agent and First Lien Co-Agent acknowledges and agrees Holdings Lenders agree that Second Lien Agent, for the benefit of itself and the Second Lien Lenders, has been or, subject to the terms of this Agreement, may be granted Liens upon all of the Collateral in which the First Lien Agent and First Lien Co-Agent has been granted Liens and each of the First Lien Agent and First Lien Co-Agent hereby consents thereto. The Second Lien Agent agrees that neither it nor any Second Lien Lender they shall not obtain a Lien on any asset or Collateral of any Obligor to secure all or any portion of the Second Holdings Lien Indebtedness unless concurrently therewith, the First Lien Aimco Agent (on behalf of itself, the First Lien Co-Agent and the First Lien Lenders) obtains a Lien on such asset or Collateral and the parties hereby agree that all such Liens are and will be subject to this Agreement. Each of the Aimco Agent and the Aimco Lender acknowledges and agrees that Holdings Agent has been granted Liens upon all of the Collateral in which the Aimco Agent and the Aimco Lender have been granted Liens and the Aimco Agent and the Aimco Lender hereby consent thereto. Except as otherwise specifically provided herein, each of the Aimco Agent and the Aimco Lender agrees that it shall not obtain a Lien on any asset of any Obligor to secure all or any portion of the Aimco Lien Indebtedness unless such Obligor also grants Holdings Agent and Holdings Lenders a Lien on such asset subordinate to the Lien of the Aimco Lien Indebtedness and the parties hereby agree that all such Liens are and will be subject to this Agreement. The subordination of Liens and claims by the Second Lien Holdings Agent in favor of the First Lien Agent, the First Lien Co-Aimco Agent and the First Lien Lenders shall not be deemed to subordinate the Second Lien (i) Holdings Agent's ’s Liens or claims to the Liens or claims of any other Person that is not a holder of First Aimco Lien Indebtedness or (ii) Holdings Agent or any Holdings Lender’s liens or claims with respect to the Additional Holdings Loan Collateral to the Aimco Lien Indebtedness. Each of the Aimco Agent and the Aimco Lender acknowledges that the Aimco Agent and the Aimco Lender have no liens or claims whatsoever with respect to the Additional Holdings Loan Collateral.

Acknowledgement of Liens. The Second Lien Agent acknowledges and agrees that the First Lien Agent, for the benefit of itself, the First Lien Co-Agent itself and the First Lien Lenders, has been and may be granted Liens upon all of the Collateral in which the Second Lien Agent has been granted Liens and the Second Lien Agent hereby consents thereto. Each If (i) any Obligor grants in favor of the Second Lien Agent a Lien on any asset of such Obligor not constituting Collateral on the date hereof or (ii) the Second Lien Agent otherwise obtains a non-consensual Lien (including, without limitation, a judgment lien, writ of attachment, or writ of execution) on any asset of such Obligor not constituting Collateral on the date hereof, the Second Lien Agent agrees that it shall give the First Lien Agent prompt written notice thereof (and in no event later than 5 Business Days after the date of such grant or acquisition), containing a detailed description of such asset (it being understood and agreed that the failure by the Second Lien Agent to give such notice to the First Lien Co-Agent shall not affect the validity, perfection or enforceability of such Lien), and the Second Lien Agent acknowledges that if the First Lien Agent obtains a Lien on such asset, whether prior to, at, or after the time that the Second Lien Agent obtains a Lien on such asset, then the priority of such Lien will be subject to the terms and provisions of this Agreement. The First Lien Agent acknowledges and agrees that Second Lien Agent, for the benefit of itself and the Second Lien Lenders, Agent has been or, subject to the terms of this Agreement, may be granted Liens upon all of the Collateral in which the First Lien Agent and First Lien Co-Agent has been granted Liens and each the First Lien Agent hereby consents thereto. If (i) any Obligor grants in favor of the First Lien Agent and or any First Lien Co-Agent hereby consents thereto. The Second Lien Agent agrees that neither it nor any Second Lien Lender shall obtain a Lien on any asset of such Obligor not constituting Collateral on the date hereof or Collateral to secure all (ii) the First Lien Agent or any portion First Lien Lender otherwise obtains a non-consensual Lien (including, without limitation, a judgment lien, writ of attachment, or writ of execution) on any asset of such Obligor not constituting Collateral on the Second Lien Indebtedness unless concurrently therewithdate hereof, the First Lien Agent agrees that it shall give the Second Lien Agent prompt written notice thereof (on behalf and in no event later than 5 Business Days after the date of itselfsuch grant or acquisition), containing a detailed description of such asset (it being understood and agreed that the failure by the First Lien Co-Agent to give such notice to the Second Lien Agent shall not affect the validity, perfection or enforceability of such Lien), and the First Lien Lenders) Agent acknowledges that if the Second Lien Agent obtains a Lien on such asset asset, whether prior to, at, or Collateral and after the parties hereby agree time that all the First Lien Agent obtains a Lien on such Liens are and asset, then the priority of such Lien will be subject to the terms and provisions of this Agreement. The subordination of Liens and claims by the Second Lien Agent in favor of the First Lien Agent, the First Lien Co-Agent and the First Lien Lenders shall not be deemed to subordinate the Second Lien Agent's ’s Liens or claims to the Liens or claims of any other Person that is not a holder of the First Lien Indebtedness. Notwithstanding the foregoing, the Obligors, by their acknowledgment hereof, agree that no Lien will be granted to any Agent without concurrently offering a Lien to the other Agent on the same Collateral and on substantially similar terms.

Acknowledgement of Liens. The Second Junior Lien Agent acknowledges and agrees that the First Senior Lien Agent, for the benefit of itself, the First Lien Co-Agent itself and the First Senior Lien Lenders, has been and may be granted Liens upon all of the Collateral in which the Second Junior Lien Agent has been granted Liens and the Second Junior Lien Agent hereby consents thereto. Each of First Senior Lien Agent and First Lien Co-Agent acknowledges and agrees that Second Junior Lien Agent, for the benefit of itself and the Second Junior Lien Lenders, has been or, subject to the terms of this Agreement, may be granted Liens upon all of the Collateral in which the First Senior Lien Agent and First Lien Co-Agent has been granted Liens and each of the First Senior Lien Agent and First Lien Co-Agent hereby consents thereto. The Second Junior Lien Agent agrees that neither it nor any Second Junior Lien Lender shall obtain a Lien on any asset or Collateral to secure all or any portion of the Second Junior Lien Indebtedness unless concurrently therewith, the First Senior Lien Agent (on behalf of itself, the First Lien Co-Agent itself and the First Senior Lien Lenders) obtains a Lien on such asset or Collateral and the parties hereby agree that all such Liens are and will be subject to this Agreement. The subordination of Liens and claims by the Second Junior Lien Agent in favor of the First Senior Lien Agent, the First Lien Co-Agent and the First Senior Lien Lenders shall not be deemed to subordinate the Second Junior Lien Agent's ’s Liens or claims to the Liens or claims of any other Person that is not a holder of First Senior Lien Indebtedness.

Acknowledgement of Liens. The Second Each Junior Lien Agent acknowledges and agrees agrees, for itself and on behalf of the Junior Lien Lenders for which it is agent, that the First Lien Agent, for the benefit of itself, the First Lien Co-Agent and the First Lien Lenders, has been and may be granted Liens upon all of the Collateral in which the Second such Junior Lien Agent has been granted Liens and the Second each Junior Lien Agent hereby consents thereto. Each of First Lien Agent and First Lien Co-Agent acknowledges and agrees that Second the Junior Lien AgentAgents, for the benefit of itself themselves and the Second Junior Lien Lenders, has been or, subject to the terms of this Agreement, may be granted Liens upon all of the Collateral in which the First Lien Agent and First Lien Co-Agent has been granted Liens and each of the First Lien Agent and First Lien Co-Agent hereby consents thereto. The Second Each Junior Lien Agent agrees that neither it nor any Second Junior Lien Lender for which it is agent shall obtain a Lien on any asset or Collateral to secure all or any portion of the Second Junior Lien Indebtedness unless concurrently therewith, the First Lien Agent (on behalf of itself, the First Lien Co-Agent and the First Lien Lenders) obtains a Lien on such asset or Collateral and the parties hereby agree that all such Liens are and will be subject to this Agreement. The subordination of Liens and claims by the Second Junior Lien Agent Agents in favor of the First Lien Agent, the First Lien Co-Agent and the First Lien Lenders shall not be deemed to subordinate the Second Junior Lien Agent's ’s Liens or claims to the Liens or claims of any other Person that is not a holder of First Lien Indebtedness.