Anti-layering Covenant. (a) No Credit Party will incur any Lien that is junior to the Liens created pursuant to the Revolving Loan Documents (other than the Liens securing the Obligations) unless such Lien is also junior to the Liens securing the Obligations.
Appears in 2 contracts
Samples: Credit Agreement (Clayton Williams Energy Inc /De), Credit Agreement (Clayton Williams Energy Inc /De)
Anti-layering Covenant. (a) No Credit Party will incur any Lien that is junior to the Liens created pursuant to securing the Revolving Loan Documents Debt or the Existing First Lien Debt (other than the Liens securing the Obligations) unless such Lien is also junior to the Liens securing the Obligations.
Appears in 1 contract
Anti-layering Covenant. (a) No Credit Party will incur any Lien that is junior to the Liens created pursuant to the Revolving First Lien Credit Agreement Loan Documents (other than the Liens securing the ObligationsObligations and the Permitted Pari Debt) unless such Lien is also junior to the Liens securing the ObligationsObligations and the Permitted Pari Debt.
Appears in 1 contract
Samples: Second Lien Credit Agreement (Warren Resources Inc)
