Common use of Collateral and Security Documents Clause in Contracts

Collateral and Security Documents. (a) In order to secure the due and punctual payment of the Notes, the Issuers have entered into the Security Agreement and the other Security Documents to create the Second Priority Liens on the Collateral in accordance with the terms thereof. Pursuant to the provisions of the Security Agreement, the other Security Documents and this Indenture, the rights and remedies of the Trustee and the Holders of the Notes in the Collateral shall be subordinate and subject to the rights and remedies of the holders of the First Priority Liens in accordance with the terms of the Security Agreement and the other Security Documents. In the event of a conflict between the terms of this Indenture and the Security Documents, the Security Documents shall control. (b) Each Holder of a Note, by accepting such Note, agrees to all of the terms and provisions of the Security Agreement and the other Security Documents and authorizes and directs the Trustee to enter into such Security Agreement and the other Security Documents. (c) The Issuers shall not, and shall not cause or permit any of their Restricted Subsidiaries to, intentionally xxxxx x Xxxx on any of its Collateral to the Collateral Agent under the Security Documents for the benefit of the lenders under the Credit Agreement unless a Second Priority Lien is created in favor of the Collateral Agent for the benefit of the Trustee (on behalf of the Trustee and the Holders of the Notes) with respect to such property or assets.

Collateral and Security Documents. (a) In order to secure the due and punctual payment of the Notes, the Issuers have entered into the Security Agreement and the other Security Documents to create the Second a Third Priority Liens Lien on the Collateral in accordance with the terms thereof. Pursuant to the provisions of the Security Agreement, the other Security Documents and this Indenture, the rights and remedies of the Trustee and the Holders of the Notes in the Collateral shall be subordinate and subject to the rights and remedies of the holders of the First Senior Priority Liens in accordance with the terms of the Security Agreement and the other Security Documents. In the event of a conflict between the terms of this Indenture and the Security Documents, the Security Documents shall control. (b) Each Holder of a Note, by accepting such Note, agrees to all of the terms and provisions of the Security Agreement and the other Security Documents and authorizes and directs the Trustee to enter into such Security Agreement and the other Security Documents. (c) The Issuers shall not, and shall not cause or permit any of their Restricted Subsidiaries to, intentionally xxxxx x Xxxx on any of its Collateral to the Collateral Agent under the Security Documents for the benefit of the lenders under the Credit Agreement unless a Second Third Priority Lien is created in favor of the Collateral Agent for the benefit of the Trustee (on behalf of the Trustee and the Holders of the Notes) with respect to such property or assets.