Common use of Consent of Grantors Clause in Contracts

Consent of Grantors. Each Grantor hereby consents to the provisions of this Agreement and the intercreditor arrangements provided for herein and agrees (a) that no Collateral Agent or other Secured Party shall have any liability to any Grantor as a result of the performance of its obligations hereunder and (b) that the obligations of the Grantors under the Senior Obligations Security Documents will in no way be diminished or otherwise affected by the provisions or arrangements provided for herein. Each Grantor also hereby confirms its respective guarantees, pledges and grants of security interests, as applicable, under each of the Credit Facilities Security Documents to which it is a party, and agrees that, notwithstanding the effectiveness of the Note Security Documents, such guarantees, pledges and grants of security interests shall continue to be in full force and effect and shall accrue to the benefit of the Credit Facilities Secured Parties.