Common use of Continuing Nature of Provisions Clause in Contracts

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt Obligations Payment Date and (ii) the Royal Gold Obligations Payment Date; provided that if an Additional Senior Debt Agreement or Replacement Royal Gold Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendor, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt Obligations Payment Date or Royal Gold Obligations Payment Date. This is a continuing agreement and the Senior Debt Secured Parties and the Purchaser may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor on the faith hereof. In furtherance of the foregoing: Upon receipt of a notice from the Vendor stating that the Vendor have entered into entered into an Additional Senior Debt Agreement (which notice shall include the identity of the new Senior Debt Representative), the Purchaser shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor or the new Senior Debt Representative shall reasonably request in order to provide to the new Senior Debt Representative the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt Representative any Senior Debt Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt Representative to obtain control of such Senior Debt Priority Collateral), and (iii) take such other actions as the Vendor or the new Senior Debt Representative may reasonably request to provide the new Senior Debt Representative or the applicable the Senior Debt Creditors the benefits of this Agreement. The new Senior Debt Representative shall agree in a writing addressed to the Purchaser to be bound by the terms of this Agreement.

Appears in 3 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement (Thompson Creek Metals Co Inc.), Intercreditor Agreement (Royal Gold Inc)

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Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt ABL Obligations Payment Date and (ii) the Royal Gold Term Loan Obligations Payment Date; provided that if an Additional Senior Debt a Replacement ABL Agreement or Replacement Royal Gold Term Loan Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendorany Loan Party, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt ABL Obligations Payment Date or Royal Gold Term Loan Obligations Payment Date. This is a continuing agreement and the Senior Debt ABL Secured Parties and the Purchaser Term Loan Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor any Loan Party on the faith hereof. In furtherance of the foregoing: : (a) Upon receipt of a notice from the Vendor Loan Parties stating that the Vendor Loan Parties (or any of them) have entered into entered into an Additional Senior Debt a Replacement ABL Agreement (which notice shall include the identity of the new Senior Debt ABL Representative, if applicable), the Purchaser Term Loan Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor Loan Parties or the new Senior Debt ABL Representative shall reasonably request in order to provide to the new Senior Debt ABL Representative or the applicable new ABL Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt ABL Representative any Senior Debt ABL Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt ABL Representative to obtain control of such Senior Debt ABL Priority Collateral), and (iii) take such other actions as the Vendor Loan Parties or the new Senior Debt ABL Representative may reasonably request to provide the new Senior Debt ABL Representative or the applicable the Senior Debt ABL Creditors the benefits of this Agreement. The new Senior Debt ABL Representative shall agree in a writing addressed to the Purchaser Term Loan Representative to be bound by the terms of this Agreement, and (b) Upon receipt of a notice from the Loan Parties stating that the Loan Parties (or any of them) have entered into a Replacement Term Loan Agreement (which notice shall include the identity of the new Term Loan Representative, if applicable), the ABL Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Loan Parties or the new Term Loan Representative shall reasonably request in order to provide to the new Term Loan Representative or the applicable new Term Loan Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Term Loan Representative any Term Loan Priority Collateral held by it together with any necessary endorsements (or otherwise allow the new Term Loan Representative to obtain control of such Term Loan Priority Collateral), and (iii) take such other actions as the Loan Parties or the new Term Loan Representative may reasonably request to provide the new Term Loan Representative or the applicable Term Loan Creditors the benefits of this Agreement. The new Term Loan Representative shall agree in a writing addressed to the ABL Representative to be bound by the terms of this Agreement.

Appears in 2 contracts

Samples: Intercreditor Agreement (Global Brass & Copper Holdings, Inc.), Intercreditor Agreement (Winnebago Industries Inc)

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt ABL Obligations Payment Date and (ii) the Royal Gold Note Obligations Payment Date; provided that if an Additional Senior Debt a Replacement ABL Agreement or Replacement Royal Gold Note Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendorany Loan Party, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt ABL Obligations Payment Date or Royal Gold Note Obligations Payment Date. This is a continuing agreement and the Senior Debt ABL Secured Parties and the Purchaser Note Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor any Loan Party on the faith hereof. In furtherance of the foregoing: : (a) Upon receipt of a notice from the Vendor Loan Parties stating that the Vendor Loan Parties (or any of them) have entered into entered into an Additional Senior Debt a Replacement ABL Agreement (which notice shall include the identity of the new Senior Debt ABL Representative), the Purchaser Note Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor Loan Parties or the new Senior Debt ABL Representative shall reasonably request in order to provide to the new Senior Debt ABL Representative the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt ABL Representative any Senior Debt ABL Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt ABL Representative to obtain control of such Senior Debt ABL Priority Collateral), and (iii) take such other actions as the Vendor Loan Parties or the new Senior Debt ABL Representative may reasonably request to provide the new Senior Debt ABL Representative or the applicable the Senior Debt ABL Creditors the benefits of this Agreement. The new Senior Debt ABL Representative shall agree in a writing addressed to the Purchaser Note Representative to be bound by the terms of this Agreement, and (b) Upon receipt of a notice from the Loan Parties stating that the Loan Parties (or any of them) have entered into entered into a Replacement Note Agreement (which notice shall include the identity of the new Note Representative, if applicable), the ABL Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Loan Parties or the new Note Representative shall reasonably request in order to provide to the new Note Representative or the applicable new Note Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Note Representative any Note Priority Collateral held by it together with any necessary endorsements (or otherwise allow the new Note Representative to obtain control of such Note Priority Collateral), and (iii) take such other actions as the Loan Parties or the new Note Representative may reasonably request to provide the new Note Representative the benefits of this Agreement. The new Note Representative shall agree in a writing addressed to the ABL Representative to be bound by the terms of this Agreement.

Appears in 2 contracts

Samples: Intercreditor Agreement (Easton-Bell Sports, Inc.), Indenture (Easton-Bell Sports, Inc.)

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt ABL Obligations Payment Date and (ii) the Royal Gold Term Loan Obligations Payment Date; provided that if an Additional Senior Debt a Replacement ABL Agreement or Replacement Royal Gold Term Loan Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendorany Loan Party, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt ABL Obligations Payment Date or Royal Gold Term Loan Obligations Payment Date. This is a continuing agreement and the Senior Debt ABL Secured Parties and the Purchaser Term Loan Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor any Loan Party on the faith hereof. In furtherance of the foregoing: : (a) Upon receipt of a notice from the Vendor Loan Parties stating that the Vendor Loan Parties (or any of them) have entered into entered into an Additional Senior Debt a Replacement ABL Agreement (which notice shall include the identity of the new Senior Debt ABL Representative, if applicable), the Purchaser Term Loan Representative shall promptly (and in any event within 10 days of the applicable request, unless otherwise agreed by the ABL Representative or the new ABL Representative, as applicable) (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor Loan Parties or the new Senior Debt ABL Representative shall reasonably request in order to provide to the new Senior Debt ABL Representative the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt ABL Representative any Senior Debt Priority ABL Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt ABL Representative to obtain control of such Senior Debt Priority ABL Collateral), and (iii) take such other actions as the Vendor Loan Parties or the new Senior Debt ABL Representative may reasonably request to provide the new Senior Debt ABL Representative or the applicable the Senior Debt ABL Creditors the benefits of this Agreement. The new Senior Debt ABL Representative shall agree in a writing addressed to the Purchaser Term Loan Representative to be bound by the terms of this Agreement, and (b) Upon receipt of a notice from the Loan Parties stating that the Loan Parties (or any of them) have entered into entered into a Replacement Term Loan Agreement (which notice shall include the identity of the new Term Loan Representative, if applicable), the ABL Representative shall promptly (and in any event within 10 days of the applicable request, unless otherwise agreed by the Term Loan Representative or the new Term Loan Representative, as applicable) (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Loan Parties or the new Term Loan Representative shall reasonably request in order to provide to the new Term Loan Representative or the applicable new Term Loan Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Term Loan Representative any Term Collateral held by it together with any necessary endorsements (or otherwise allow the new Term Loan Representative to obtain control of such Term Collateral), and (iii) take such other actions as the Loan Parties or the new Term Loan Representative may reasonably request to provide the new Term Loan Representative the benefits of this Agreement. The new Term Loan Representative shall agree in a writing addressed to the ABL Representative to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Griffon Corp)

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until any two of the earlier of Obligations payment dates (i) i.e., the Senior ABL Obligations Payment Date, the Term Debt Obligations Payment Date and (ii) the Royal Gold Receivables Obligations Payment Date) shall have occurred; provided that if an Additional a Replacement ABL Agreement, Replacement Senior Debt Secured Notes Agreement, Replacement Term Loan Agreement or Replacement Royal Gold Receivables Sale Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendorany Loan Party, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior ABL Obligations Payment Date, Term Debt Obligations Payment Date or Royal Gold Receivables Obligations Payment Date. This is a continuing agreement and the Senior Debt Secured Parties and the Purchaser may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor any Loan Party on the faith hereof. In furtherance of the foregoing: : (a) Upon receipt of a notice from the Vendor Loan Parties stating that the Vendor Loan Parties (or any of them) have entered into entered into an Additional Senior Debt a Replacement ABL Agreement (which notice shall include the identity of the new Senior Debt ABL Representative), the Purchaser Term Debt Representative and the Receivables Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor Loan Parties or the new Senior Debt ABL Representative shall reasonably request in order to provide to the new Senior Debt ABL Representative the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt ABL Representative any Senior Debt ABL Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new ABL Representative to obtain control of such ABL Priority Collateral), and (iii) take such other actions as the Loan Parties or the new ABL Representative may reasonably request to provide the new ABL Representative or the applicable the ABL Secured Parties the benefits of this Agreement. The new ABL Representative shall agree in a writing addressed to the Term Debt Representative and the Receivables Representative to be bound by the terms of this Agreement. (b) Upon receipt of a notice from the Loan Parties stating that the Loan Parties (or any of them) have entered into a Replacement Senior Secured Notes Agreement or a Replacement Term Loan Agreement (which notice shall include the identity of the new Term Debt Representative, if applicable), the ABL Representative and the Receivables Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Loan Parties or the new Term Debt Representative shall reasonably request in order to provide to the new Term Debt Representative or the applicable new Term Debt Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Term Debt Representative any Term Debt Priority Collateral held by it together with any necessary endorsements (or otherwise allow the new Term Debt Representative to obtain control of such Senior Term Debt Priority Collateral), and (iii) take such other actions as the Vendor Loan Parties or the new Senior Term Debt Representative may reasonably request to provide the new Senior Term Debt Representative or the applicable the Senior Debt Creditors the benefits of this Agreement. The new Senior Term Debt Representative shall agree in a writing addressed to the Purchaser ABL Representative and the Receivables Representative to be bound by the terms of this Agreement. (c) Upon receipt of a notice from the Loan Parties stating that the Loan Parties (or any of them) have entered into entered into a Replacement Receivables Sale Agreement (which notice shall include the identity of the new Receivables Buyer), the ABL Representative and the Term Debt Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Loan Parties or the new Receivables Buyer shall reasonably request in order to provide to the new Receivables Buyer or the applicable new Receivables Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Receivables Buyer any Receivables Priority Collateral held by it together with any necessary endorsements (or otherwise allow the new Receivables Buyer to obtain control of such Receivables Priority Collateral), and (iii) take such other actions as the Loan Parties or the new Receivables Buyer may reasonably request to provide the new Receivables Buyer the benefits of this Agreement. The new Receivables Buyer shall agree in a writing addressed to the other Representatives to be bound by the terms of this Agreement. (d) Upon receipt of a notice from the Receivables Buyer stating it has entered into a Replacement Credit and Security Agreement (which notice shall include the identity of the new Receivables Representative), the ABL Representative and the Term Debt Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Receivables Buyer shall reasonably request in order to provide to the new Receivables Representative and the applicable new Receivables Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Receivables Representative any Receivables Priority Collateral held by it together with any necessary endorsements (or otherwise allow the new Receivables Representative to obtain control of such Receivables Priority Collateral), and (iii) take such other actions as the Receivables Buyer or new Receivables Representative may reasonably request to provide the new Receivables Representative the benefits of this Agreement. The new Receivables Representative shall agree in a writing addressed to the other Representatives to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Smithfield Foods Inc)

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (ia) the Senior Debt Obligations Payment Date and (ii) the Royal Gold ABL Obligations Payment Date; provided that if an Additional Senior Debt a Replacement ABL Agreement or Replacement Royal Gold Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendorany Credit Party, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt Exit Convertible Notes Obligations Payment Date or Royal Gold ABL Obligations Payment Date and (b) the Exit Convertible Notes Obligations Payment Date; provided that if a Replacement Notes Agreement is entered into following such termination, the relevant Secured Parties agree to, upon the request of any Credit Party, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following ABL Obligations Payment Date or Exit Convertible Notes Obligations Payment Date. This is a continuing agreement and the Senior Debt ABL Secured Parties and the Purchaser Exit Convertible Notes Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor any Credit Party on the faith hereof. In furtherance of the foregoing: Upon receipt of a notice from the Vendor Credit Parties stating that the Vendor Credit Parties (or any of them) have entered into entered into an Additional Senior Debt a Replacement ABL Agreement (which notice shall include the identity of the new Senior Debt ABL Representative, if applicable), the Purchaser Exit Convertible Notes Representative shall promptly (and in any event within 10 days of the applicable request, unless otherwise agreed by the ABL Representative or the new ABL Representative, as applicable) (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor Credit Parties or the new Senior Debt ABL Representative shall reasonably request in order to provide to the new Senior Debt ABL Representative or the applicable new ABL Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt ABL Representative any Senior Debt ABL Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt ABL Representative to obtain control of such Senior Debt ABL Priority Collateral), and (iii) take such other actions as the Vendor Credit Parties or the new Senior Debt ABL Representative may reasonably request to provide the new Senior Debt ABL Representative or the applicable the Senior Debt Creditors ABL Secured Parties the benefits of this Agreement. The new Senior Debt ABL Representative shall agree in a writing addressed to the Purchaser Exit Convertible Notes Representative to be bound by the terms of this Agreement. Upon receipt of a notice from the Credit Parties stating that the Credit Parties (or any of them) have entered into a Replacement Notes Agreement (which notice shall include the identity of the new Exit Convertible Notes Representative, if applicable), the ABL Representative shall promptly (and in any event within 10 days of the applicable request, unless otherwise agreed by the Exit Convertible Notes Representative or the new Exit Convertible Notes Representative, as applicable) (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Credit Parties or the new Exit Convertible Notes Representative shall reasonably request in order to provide to the new Exit Convertible Notes Representative or the applicable new Exit Convertible Notes Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Exit Convertible Notes Representative any Exit Convertible Notes Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Exit Convertible Notes Representative to obtain control of such Exit Convertible Notes Priority Collateral), and (iii) take such other actions as the Credit Parties or the new Exit Convertible Notes Representative may reasonably request to provide the new Exit Convertible Notes Representative or the applicable Exit Convertible Notes Secured Parties the benefits of this Agreement. The new Exit Convertible Notes Representative shall agree in a writing addressed to the ABL Representative to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Hi-Crush Inc.)

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt ABL Obligations Payment Date and (ii) the Royal Gold Term Debt Obligations Payment Date; provided that if an Additional Senior Debt a Replacement ABL Agreement or Replacement Royal Gold Term Debt Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the VendorTerm Debt Representative or ABL Representative (as applicable) or the Parent Borrower, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt ABL Obligations Payment Date or Royal Gold Term Debt Obligations Payment Date. This is a continuing agreement and the Senior Debt ABL Secured Parties and the Purchaser Term Debt Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor any Loan Party on the faith hereof. In furtherance of the foregoing: : (a) Upon receipt of a notice from the Vendor Loan Parties stating that the Vendor Loan Parties (or any of them) have entered into entered into an Additional Senior Debt a Replacement ABL Agreement (which notice shall include the identity of the new Senior Debt ABL Representative, if applicable), the Purchaser Term Debt Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor Loan Parties or the new Senior Debt ABL Representative shall reasonably request in order to provide to the new Senior Debt ABL Representative or the applicable new ABL Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior ABL Representative any ABL Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new ABL Representative to obtain control of such ABL Priority Collateral), and (iii) take such other actions as the Loan Parties or the new ABL Representative may reasonably request to provide the new ABL Representative or the applicable the ABL Creditors the benefits of this Agreement. The new ABL Representative shall agree in a writing addressed to the Term Debt Representative to be bound by the terms of this Agreement, and (b) Upon receipt of a notice from the Loan Parties stating that the Loan Parties (or any of them) have entered into entered into a Replacement Term Debt Agreement (which notice shall include the identity of the new Term Debt Representative, if applicable), the ABL Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Loan Parties or the new Term Debt Representative shall reasonably request in order to provide to the new Term Debt Representative or the applicable new Term Debt Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Term Debt Representative any Senior Term Debt Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Term Debt Representative to obtain control of such Senior Term Debt Priority Collateral), and (iii) take such other actions as the Vendor Loan Parties or the new Senior Term Debt Representative may reasonably request to provide the new Senior Term Debt Representative or the applicable the Senior Term Debt Creditors the benefits of this Agreement. The new Senior Term Debt Representative shall agree in a writing addressed to the Purchaser ABL Representative to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (UniTek Global Services, Inc.)

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt Obligations Payment Date and (ii) the Royal Gold Obligations Payment Date; provided that if an a Additional Senior Debt Agreement or Replacement Royal Gold Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendor, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt Obligations Payment Date or Royal Gold Obligations Payment Date. This is a continuing agreement and the Senior Debt Secured Parties and the Purchaser may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor on the faith hereof. In furtherance of the foregoing: Upon receipt of a notice from the Vendor stating that the Vendor have entered into entered into an a Additional Senior Debt Agreement (which notice shall include the identity of the new Senior Debt Representative), the Purchaser shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor or the new Senior Debt Representative shall reasonably request in order to provide to the new Senior Debt Representative the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt Representative any Senior Debt Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt Representative to obtain control of such Senior Debt Priority Collateral), and (iii) take such other actions as the Vendor or the new Senior Debt Representative may reasonably request to provide the new Senior Debt Representative or the applicable the Senior Debt Creditors the benefits of this Agreement. The new Senior Debt Representative shall agree in a writing addressed to the Purchaser to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Royal Gold Inc)

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Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt ABL Obligations Payment Date and (ii) the Royal Gold Term Debt Obligations Payment Date; provided that if an Additional a Replacement ABL Agreement, Replacement Senior Debt Secured Notes Agreement or Replacement Royal Gold Term Loan Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendorany Loan Party, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt ABL Obligations Payment Date or Royal Gold Term Debt Obligations Payment Date. This is a continuing agreement and the Senior Debt ABL Secured Parties and the Purchaser Term Debt Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor any Loan Party on the faith hereof. In furtherance of the foregoing: : (a) Upon receipt of a notice from the Vendor Loan Parties stating that the Vendor Loan Parties (or any of them) have entered into entered into an Additional Senior Debt a Replacement ABL Agreement (which notice shall include the identity of the new Senior Debt ABL Representative), the Purchaser Term Debt Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor Loan Parties or the new Senior Debt ABL Representative shall reasonably request in order to provide to the new Senior Debt ABL Representative the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt ABL Representative any Senior Debt ABL Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new ABL Representative to obtain control of such ABL Priority Collateral), and (iii) take such other actions as the Loan Parties or the new ABL Representative may reasonably request to provide the new ABL Representative or the applicable the ABL Creditors the benefits of this Agreement. The new ABL Representative shall agree in a writing addressed to the Term Debt Representative to be bound by the terms of this Agreement, and (b) Upon receipt of a notice from the Loan Parties stating that the Loan Parties (or any of them) have entered into entered into a Replacement Senior Secured Notes Agreement or a Replacement Term Loan Agreement (which notice shall include the identity of the new Term Debt Representative, if applicable), the ABL Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Loan Parties or the new Term Debt Representative shall reasonably request in order to provide to the new Term Debt Representative or the applicable new Term Debt Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Term Debt Representative any Term Debt Priority Collateral held by it together with any necessary endorsements (or otherwise allow the new Term Debt Representative to obtain control of such Senior Term Debt Priority Collateral), and (iii) take such other actions as the Vendor Loan Parties or the new Senior Term Debt Representative may reasonably request to provide the new Senior Term Debt Representative or the applicable the Senior Debt Creditors the benefits of this Agreement. The new Senior Term Debt Representative shall agree in a writing addressed to the Purchaser ABL Representative to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Smithfield Foods Inc)

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt ABL Obligations Payment Date and (ii) the Royal Gold Fixed Asset Obligations Payment Date; provided that if an Additional Senior Debt a Replacement ABL Agreement or Replacement Royal Gold AgreementAdditional Fixed Asset Document, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendorany Loan Party, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt ABL Obligations Payment Date or Royal Gold Fixed Asset Obligations Payment Date. This is a continuing agreement and the Senior Debt ABL Secured Parties and the Purchaser Fixed Asset Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor any Loan Party on the faith hereof. In furtherance of the foregoing: : (a) Upon receipt of a notice from the Vendor Loan Parties stating that the Vendor Loan Parties (or any of them) have entered into entered into an Additional Senior Debt a Replacement ABL Agreement (which notice shall include the identity of the new Senior Debt ABL Representative, if applicable), the Purchaser Fixed Asset Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor Loan Parties or the new Senior Debt ABL Representative shall reasonably request in order to provide to the new Senior Debt ABL Representative or the applicable new ABL Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt ABL Representative any Senior Debt ABL Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt ABL Representative to obtain control of such Senior Debt ABL Priority Collateral), and (iii) take such other actions as the Vendor Loan Parties or the new Senior Debt ABL Representative may reasonably request to provide the new Senior Debt ABL Representative or the applicable the Senior Debt ABL Creditors the benefits of this Agreement. The new Senior Debt ABL Representative shall agree in a writing addressed to the Purchaser Fixed Asset Representative to be bound by the terms of this Agreement, and (b) Upon receipt of a notice from the Loan Parties stating that the Loan Parties (or any of them) have entered into an Additional Fixed Asset Document (which notice shall include the identity of the new Fixed Asset Representative, if applicable), the ABL Representative shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Loan Parties or the new Fixed Asset Representative shall reasonably request in order to provide to the new Fixed Asset Representative or the applicable new Fixed Asset Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Fixed Asset Representative any Fixed Asset Priority Collateral held by it together with any necessary endorsements (or otherwise allow the new Fixed Asset Representative to obtain control of such Fixed Asset Priority Collateral), and (iii) take such other actions as the Loan Parties or the new Fixed Asset Representative may reasonably request to provide the new Fixed Asset Representative or the applicable Fixed Asset Secured Parties the benefits of this Agreement. The new Fixed Asset Representative shall agree in a writing addressed to the ABL Representative to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Winnebago Industries Inc)

Continuing Nature of Provisions. Subject to Section 5.5, this Agreement shall continue to be effective, and shall not be terminable by any party hereto, until the earlier of (i) the Senior Debt ABL Obligations Payment Discharge Date and (ii) the Royal Gold Note and Specified Hedge Obligations Payment Discharge Date; provided that if an Additional Senior Debt a Replacement ABL Agreement or Replacement Royal Gold Note and Specified Hedge Agreement, as applicable, is entered into following such termination, the relevant Secured Parties agree to, upon the request of the Vendorany Loan Party, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt ABL Obligations Payment Discharge Date or Royal Gold Note and Specified Hedge Obligations Payment Discharge Date. This is a continuing agreement and the Senior Debt ABL Secured Parties and the Purchaser Note and Specified Hedge Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor any Loan Party on the faith hereof. In furtherance of the foregoing: : (a) Upon receipt of a notice from the Vendor Loan Parties stating that the Vendor Loan Parties (or any of them) have entered into entered into an Additional Senior Debt a Replacement ABL Agreement (which notice shall include the identity of the new Senior Debt ABL Representative, if applicable), the Purchaser Note and Specified Hedge Representative shall promptly (and in any event within 10 days of the applicable request, unless otherwise agreed by the ABL Representative or the new ABL Representative, as applicable) (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor Loan Parties or the new Senior Debt ABL Representative shall reasonably request in order to provide to the new Senior Debt ABL Representative or the applicable new ABL Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt ABL Representative any Senior Debt Priority ABL Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt ABL Representative to obtain control of such Senior Debt Priority ABL Collateral), and (iii) take such other actions as the Vendor Loan Parties or the new Senior Debt ABL Representative may reasonably request to provide the new Senior Debt ABL Representative or the applicable the Senior Debt ABL Creditors the benefits of this Agreement. The new Senior Debt ABL Representative shall agree in a writing addressed to the Purchaser Note and Specified Hedge Representative to be bound by the terms of this Agreement, and (b) Upon receipt of a notice from the Loan Parties stating that the Loan Parties (or any of them) have entered into a Replacement Note and Specified Hedge Agreement (which notice shall include the identity of the new Note and Specified Hedge Representative, if applicable), the ABL Representative shall promptly (and in any event within 10 days of the applicable request, unless otherwise agreed by the Note and Specified Hedge Representative or the new Note and Specified Hedge Representative, as applicable) (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Loan Parties or the new Note and Specified Hedge Representative shall reasonably request in order to provide to the new Note and Specified Hedge Representative or the applicable new Note and Specified Hedge Secured Parties the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Note and Specified Hedge Representative any Note and Specified Hedge Collateral held by it, together with any necessary endorsements (or otherwise allow the new Note and Specified Hedge Representative to obtain control of such Note and Specified Hedge Collateral), and (iii) take such other actions as the Loan Parties or the new Note and Specified Hedge Representative may reasonably request to provide the new Note and Specified Hedge Representative or the applicable Note and Specified Hedge Secured Parties the benefits of this Agreement. The new Note and Specified Hedge Representative shall agree in a writing addressed to the ABL Representative to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Northern Tier Retail LLC)

Continuing Nature of Provisions. Subject to the fifth sentence of this Section 5.59.02, this Agreement shall continue to be effective, and shall not be terminable revocable by any party hereto, until the earlier First Lien Obligations shall be Paid in Full. Notwithstanding the foregoing, the Second Lien Representative, on behalf of itself and the Second Lien Secured Parties, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency Proceeding. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Company or any other Grantor (as the case may be) in any Insolvency Proceeding. This Agreement shall terminate and be of no further force and effect, (i) with respect to the Senior Debt Second Lien Representative, the Second Lien Secured Parties and the Second Lien Obligations, upon the later of (1) the date upon which the obligations under the Second Lien Indenture terminate if there are no other Second Lien Obligations Payment Date outstanding on such date and (2) if there are other Second Lien Obligations outstanding on such date, the date upon which such Second Lien Obligations terminate and (ii) the Royal Gold Obligations Payment Date; provided that if an Additional Senior Debt Agreement or Replacement Royal Gold Agreementwith respect to any First Lien Representative, as applicable, is entered into following such terminationany First Lien Secured Parties and any First Lien Obligations, the relevant date of notification by the Company to the Second Lien Representative of termination of this Agreement after all such First Lien Obligations have been Paid in Full, subject to the rights of the First Lien Secured Parties agree to, upon the request under Section 5.05 of the Vendor, restore this Agreement on the terms and conditions set forth herein until the earlier to occur of the next following Senior Debt Obligations Payment Date or Royal Gold Obligations Payment DateAgreement. This is a continuing agreement and the Senior Debt First Lien Secured Parties and the Purchaser Second Lien Secured Parties may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, the Vendor Company or any other Grantor on the faith hereof. In furtherance of the foregoing: Upon receipt of a notice from the Vendor stating that the Vendor have entered into entered into an Additional Senior Debt Agreement (which notice shall include the identity of the new Senior Debt Representative), the Purchaser shall promptly (i) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Vendor or the new Senior Debt Representative shall reasonably request in order to provide to the new Senior Debt Representative the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement, (ii) deliver to the new Senior Debt Representative any Senior Debt Priority Collateral held by it, together with any necessary endorsements (or otherwise allow the new Senior Debt Representative to obtain control of such Senior Debt Priority Collateral), and (iii) take such other actions as the Vendor or the new Senior Debt Representative may reasonably request to provide the new Senior Debt Representative or the applicable the Senior Debt Creditors the benefits of this Agreement. The new Senior Debt Representative shall agree in a writing addressed to the Purchaser to be bound by the terms of this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Eastman Kodak Co)

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