Additional Guarantors and Collateral. Each of the Secured Creditors hereby covenants and agrees that it will not (i) accept any guaranty of any of the Secured Obligations by any subsidiary of the Company or any other Person unless such subsidiary or other Person is simultaneously providing the other Secured Creditors a comparable guaranty or (ii) take any security interest in or lien on any assets of the Company, any other Credit Party or any other Person to secure any of the Secured Obligations unless such security interest or lien is provided to the Collateral Agent for the benefit of all Secured Creditors.
Appears in 3 contracts
Samples: Intercreditor and Collateral Agency Agreement (Northwest Pipe Co), Intercreditor and Collateral Agency Agreement (Northwest Pipe Co), Intercreditor and Collateral Agency Agreement (Northwest Pipe Co)
Additional Guarantors and Collateral. Each of the Secured Creditors hereby covenants and agrees that it will not not, except for the IDB Documents, (i) accept any guaranty of any of the Secured Obligations by any subsidiary of the Company or any other Person unless such subsidiary or other Person is simultaneously providing the other Secured Creditors a comparable guaranty or (ii) take any security interest in or lien on any assets of the Company, any other Credit Party or any other Person to secure any of the Secured Obligations unless such security interest or lien is provided to the Collateral Agent for the benefit of all Secured Creditors.
Appears in 1 contract
Samples: Intercreditor and Collateral Agency Agreement (Northwest Pipe Co)
