Collateral Documents and Intercreditor Agreements Sample Clauses
The "Collateral Documents and Intercreditor Agreements" clause defines the requirements and procedures for creating, maintaining, and prioritizing security interests in collateral among multiple creditors. It typically outlines which documents must be executed to perfect security interests, and specifies how rights and priorities among different lenders or creditors are governed, often referencing intercreditor agreements that set out the order of repayment or enforcement rights. This clause ensures that all parties understand their respective rights to the collateral and helps prevent disputes by clearly establishing the hierarchy and coordination among creditors in the event of default or enforcement.
Collateral Documents and Intercreditor Agreements. The provisions in this Indenture relating to Collateral are subject to the provisions of the Collateral Documents and the Intercreditor Agreements. The Issuer, Intermediate Holdings, the Note Guarantors, the Trustee and the Collateral Agent acknowledge and agree to be bound by the provisions of the Collateral Documents and the Intercreditor Agreements.
Collateral Documents and Intercreditor Agreements. Each of the applicable Collateral Documents, the First Lien Intercreditor Agreement and the THI Notes Intercreditor Agreement has been duly authorized by each Issuer and each of the Guarantors, to the extent a party thereto, and on the Closing Date, each of the applicable Collateral Documents, the First Lien Intercreditor Agreement Joinder and the THI Notes Intercreditor Agreement will be duly executed and delivered by each Issuer and each of the Guarantors, to the extent a party thereto, and, when duly executed and delivered in accordance with its terms by each of the parties thereto, will constitute a valid and legally binding agreement of each Issuer and each of the Guarantors, to the extent a party thereto, enforceable against each Issuer and each of the Guarantors, to the extent a party thereto, in accordance with its terms, subject to the Enforceability Exceptions.
Collateral Documents and Intercreditor Agreements. (a) Each Holder, by its acceptance of a Note, (a) agrees that it will be bound by the provisions of any Intercreditor Agreement as if it were a signatory thereto and will take no actions contrary to the provisions of any Intercreditor Agreement and (b) authorizes and instructs the Trustee and the Notes Collateral Agent to enter into (i) the ABL Intercreditor Agreement on the Issue Date, (ii) the First Lien Pari Passu Intercreditor Agreement on the Issue Date, (iii) the Junior Lien Pari Passu Intercreditor Agreement on the Issue Date, (iv) the Non-Released Multi Lien Intercreditor Agreement on the Issue Date and (v) the Multi Lien Intercreditor Agreement on the Issue Date in accordance with this Indenture and the other Note Documents, in each case as Trustee and as Notes Collateral Agent, as the case may be, and on behalf of such Holder, including without limitation, making the representations of the Holders contained therein. The foregoing provisions as they relate to the Intercreditor Agreements are intended as an inducement to the lenders under the Superpriority Credit Facility, the 2025 Credit Facility and the ABL Facility to extend credit and such lenders are intended third party beneficiaries of such provisions and the provisions of the applicable Intercreditor Agreements.
(b) Notwithstanding anything herein to the contrary, (i) the Liens and security interests granted to the Notes Collateral Agent on the Shared Collateral (as defined in the Multi Lien Intercreditor Agreement) are expressly subject and subordinate to the Liens and security interests granted in favor of the First Priority Secured Parties (as defined in the Multi Lien Intercreditor Agreement), and
Collateral Documents and Intercreditor Agreements. Each of the Collateral Documents, the Pari Passu Intercreditor Agreement and the Junior Intercreditor Agreement has been duly authorized by the Company and each of the Guarantors, to the extent a party thereto, and on the Closing Date, each of the Collateral Documents, the Pari Passu Intercreditor Agreement and the Junior Intercreditor Agreement will be duly executed and delivered by the Company and each of the Guarantors, to the extent a party thereto, and, when duly authorized, executed and delivered in accordance with its terms by each of the other parties thereto, will constitute a valid and legally binding agreement of the Company and each of the Guarantors, to the extent a party thereto, enforceable against the Company and each of the Guarantors, to the extent a party thereto, in accordance with its terms, subject to the Enforceability Exceptions.
Collateral Documents and Intercreditor Agreements. Each of the Agents is hereby irrevocably authorized by each of the Lenders to execute and deliver the Collateral Documents and any subordination and/or intercreditor agreement with respect to any Subordinated Debt on behalf of each of the Lenders and their Affiliates and to take such action and exercise such powers under the Collateral Documents and such subordination and/or intercreditor agreements with respect to any Subordinated Debt on behalf of each of the Lenders and their Affiliates as the relevant Agent considers appropriate; provided neither Agent shall amend the Collateral Documents or the subordination and/or intercreditor agreements with respect to any Subordinated Debt unless such amendment is not materially adverse to the Lenders or is agreed to in writing by the Required Lenders. Each Lender hereby further authorizes the Collateral Agent, on behalf of and for the benefit of such Lender, to be the agent for and representative of such Lender with respect to the Collateral and the Collateral Documents. Upon the occurrence of an Event of Default, the Collateral Agent shall take such action to enforce its Lien on the Collateral and to preserve and protect the Collateral as may be directed by the Required Lenders. Unless and until the Required Lenders give such direction, the Collateral Agent may (but shall not be obligated to) take or refrain from taking such actions as it deems appropriate and in the best interest of all the Lenders. Each Lender acknowledges and agrees that it will be bound by the terms and conditions of the Collateral Documents upon the execution and delivery thereof by the Collateral Agent. The Collateral Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Credit Party or any Guarantor in connection therewith, nor shall the Collateral Agent be responsible or liable to the Lenders or their Affiliates for any failure to monitor or maintain any portion of the Collateral. The Lenders hereby irrevocably authorize (and each of their Affiliates holding any Bank Product Obligations entitled to the benefits of the Collateral shall be deemed to authorize) the Collateral Agent, based upon the instruction of the Required Lenders, to credit bid and purchase (either directly or through one or more acquisit...
Collateral Documents and Intercreditor Agreements. On the Closing Date, the Initial Purchasers shall have received a counterpart of each Collateral Joinder Document and the THI Notes Intercreditor Agreement, that shall have been executed and delivered by the applicable parties thereto and each of such documents shall be in full force and effect in accordance with their terms.
Collateral Documents and Intercreditor Agreements. Each of the Agents is hereby irrevocably authorized by each of the Lenders to execute and deliver the Collateral Documents and any subordination and/or intercreditor agreement with respect to any Subordinated Debt on behalf of each of the Lenders and their Affiliates and to take such action and exercise such