Common use of Covenant to Secure Obligations Equally Clause in Contracts

Covenant to Secure Obligations Equally. Without affecting the obligations of the Borrowers under Section 7.01, if any Borrower or any Restricted Subsidiary shall create, assume, incur or suffer to exist any Lien upon any of their respective property or assets, whether now owned or hereafter acquired, other than Permitted Liens (unless written consent to the creation or assumption thereof shall have been obtained from the Required Lenders pursuant to Section 10.01), then the Borrowers shall make or cause to be made effective provisions whereby the Obligations shall be secured by such Lien equally and ratably with any and all other Debt or other obligations thereby secured, and such security shall be created and conveyed by documentation satisfactory in scope, form and substance to the Administrative Agent and shall continue in full force and effect until the same is released by the Lenders, for as long as the Debt or other obligations are secured thereby and in any case the Obligations shall have the benefit, to the full extent that the holders may be entitled thereto under applicable law, of an equitable lien on such property or assets equally and ratably securing the Obligations.

Covenant to Secure Obligations Equally. Without affecting the obligations of the Borrowers Borrower under Section 7.01, if any the Borrower or any Restricted Subsidiary shall create, assume, incur or suffer to exist any Lien upon any of their respective property or assets, whether now owned or hereafter acquired, other than Permitted Liens (unless written consent to the creation or assumption thereof shall have been obtained from the Required Lenders pursuant to Section 10.01), then the Borrowers Borrower shall make or cause to be made effective provisions whereby the Obligations shall be secured by such Lien equally and ratably with any and all other Debt or other obligations thereby secured, and such security shall be created and conveyed by documentation reasonably satisfactory in scope, form and substance to the Administrative Agent and shall continue in full force and effect until the same is released by pursuant to the terms of the Loan Documents, or with the consent of the Required Lenders, for as long as the Debt or other obligations are secured thereby and in any case the Obligations shall have the benefit, to the full extent that the holders may be entitled thereto under applicable law, of an equitable lien on such property or assets equally and ratably securing the Obligations.

Covenant to Secure Obligations Equally. Without affecting the obligations of the Borrowers under Section 7.01, if any Borrower If (x) Holdings or any Restricted Subsidiary shall create, assume, create assume or otherwise incur or suffer to exist any Lien upon any of their respective its property or assets, whether now owned or hereafter acquired other than Liens permitted under Section 7.02 or (y) Holdings or any Subsidiary shall create, assume or otherwise incur any Lien upon any of its property or assets, whether now owned or hereafter acquired, other than Permitted Liens (unless written consent to the creation secure a Principal Credit Facility, then, in each case, Holdings or assumption thereof shall have been obtained from the Required Lenders pursuant to Section 10.01)such Subsidiary, then the Borrowers as applicable, shall make or cause to be made effective provisions provision whereby the Obligations shall will be simultaneously secured by such Lien equally and ratably with any and all other Debt or secured pursuant to terms and provisions, including an intercreditor agreement, reasonably satisfactory to the Agent so long as any such other obligations thereby secured, and such security Debt shall be created and conveyed by documentation satisfactory in scope, form and substance so secured; provided that (i) to the Administrative Agent extent the provision in the Note Purchase Agreement which requires ratable security for the obligations under the Note Purchase Agreement (or any similar provision therein relating to the provision of security) is deleted or otherwise no longer of any force or effect then Holdings and its Subsidiaries shall continue in full force and effect until the same is released by the Lenders, for as long as the Debt or other obligations are secured thereby and in any case not be required to secure the Obligations or take any other action pursuant to this Section 6.03 and (ii) the terms hereof shall have exclude any purchase money or capital lease indebtedness permitted to be incurred under the benefit, to the full extent that the holders may be entitled thereto under applicable law, terms of an equitable lien on such property or assets equally and ratably securing the Obligationsthis Agreement.

Covenant to Secure Obligations Equally. Without affecting the obligations of the Borrowers Borrower under Section 7.01, if any the Borrower or any Restricted Subsidiary shall create, assume, incur or suffer to exist any Lien upon any of their respective property or assets, whether now owned or hereafter acquired, other than Permitted Liens (unless written consent to the creation or assumption thereof shall have been obtained from the Required Lenders pursuant to Section 10.01), then the Borrowers Borrower shall make or cause to be made effective provisions whereby the Obligations shall be secured by such Lien equally and ratably with any and all other Debt or other obligations thereby secured, and such security shall be created and conveyed by documentation satisfactory in scope, form and substance to the Administrative Agent and shall continue in full force and effect until the same is released by the Lenders, for as long as the Debt or other obligations are secured thereby and in any case the Obligations shall have the benefit, to the full extent that the holders may be entitled thereto under applicable law, of an equitable lien on such property or assets equally and ratably securing the Obligations.