Applicable Intercreditor Agreements Clause Samples
The "Applicable Intercreditor Agreements" clause defines which intercreditor agreements are relevant and binding in the context of a particular financing arrangement. It typically specifies the agreements that govern the rights and priorities among different classes of creditors, such as senior and subordinated lenders, or between secured and unsecured parties. For example, it may reference a specific intercreditor agreement entered into on a certain date or require that any new financing be subject to an existing intercreditor framework. The core function of this clause is to ensure all parties are clear on which intercreditor terms apply, thereby preventing disputes over creditor priorities and enforcement rights.
Applicable Intercreditor Agreements. (a) Notwithstanding anything to the contrary in this Agreement or in any other Loan Document: (i) the Liens granted to the Collateral Agent in favor of the Secured Parties pursuant to the Loan Documents and the exercise of any right related to any Collateral shall be subject, in each case, to the terms the ABL Intercreditor Agreement, Term Intercreditor Agreement or any other Applicable Intercreditor Agreement, (ii) in the event of any conflict between the express terms and provisions of this Agreement or any other Loan Document, on the one hand, and the ABL Intercreditor Agreement, Term Intercreditor Agreement or any other Applicable Intercreditor Agreement, on the other hand, the terms and provisions of the ABL Intercreditor Agreement, Term Intercreditor Agreement or any other Applicable Intercreditor Agreement, as the case may be, shall control, and (iii) each Lender (and, by its acceptance of the benefits of any Collateral Document, each other Secured Party) hereunder authorizes and instructs the Administrative Agent and Collateral Agent to execute the ABL Intercreditor Agreement, Term Intercreditor Agreement or any other Applicable Intercreditor Agreement on behalf of such Lender, and such Lender agrees to be bound by the terms thereof.
(b) Each Lender (and, by its acceptance of the benefits of any Collateral Document, each other Secured Party) hereunder authorizes and instructs the Collateral Agent, as Collateral Agent and on behalf of such Lender or other Secured Party, to enter into one or more intercreditor agreements from time to time and agrees that it will be bound by and will take no actions contrary to the provisions thereof.
Applicable Intercreditor Agreements. Without limiting the authority granted to the Administrative Agent in the preceding provisions of this Article VIII, each Lender (and each Person that becomes a Lender hereunder pursuant to Section 9.04) hereby authorizes and directs the Administrative Agent to enter into any Applicable Intercreditor Agreement on behalf of such Lender and agrees that the Administrative Agent may take such actions on its behalf as is contemplated by the terms of such Applicable Intercreditor Agreement. In the event of any conflict between the terms of the Applicable Intercreditor Agreement and this Agreement, the terms of the Applicable Intercreditor Agreement shall govern and control.
Applicable Intercreditor Agreements. Any Applicable Intercreditor Agreement shall be invalidated or otherwise cease to constitute the legal, valid and binding obligations of the Specified LSP Indebtedness Agent or any other agent or lender with respect to Specified LSP Indebtedness, Specified LSP Refinancing Indebtedness or Specified Incremental Debt, enforceable in accordance with its terms (to the extent that any such Indebtedness remains outstanding).
Applicable Intercreditor Agreements. Each Lender (and, by its acceptance of the benefits of any Collateral Document, each other Secured Party) hereunder authorizes and instructs the Collateral Agent, as Collateral Agent and on behalf of such Lender or other Secured Party, to enter into one or more Applicable Intercreditor Agreements from time to time and agrees that it will be bound by and will take no actions contrary to the provisions thereof.
Applicable Intercreditor Agreements. 184 Section 10.22