Common use of Equal and Ratable Sharing of Collateral by Holders of Parity Lien Debt Clause in Contracts

Equal and Ratable Sharing of Collateral by Holders of Parity Lien Debt. Notwithstanding: (1) anything to the contrary contained in the Security Documents; (2) the time of incurrence of any Series of Parity Lien Debt; (3) the order or method of attachment or perfection of any Liens securing any Series of Parity Lien Debt; (4) the time or order of filing or recording of financing statements, mortgages or other documents filed or recorded to perfect any Lien upon any Collateral; (5) the time of taking possession or control over any Collateral; (6) that any Parity Lien may not have been perfected or may be or have become subordinated, by equitable subordination or otherwise, to any other Lien; or (7) the rules for determining priority under any law governing relative priorities of Liens: (a) all Parity Liens granted at any time by the Company or any other Pledgor shall secure, equally and ratably, all present and future Parity Lien Obligations; and (b) all proceeds of all Parity Liens granted at any time by the Company or any other Pledgor shall be allocated and distributed equally and ratably on account of the Parity Lien Debt and other Parity Lien Obligations. The foregoing provision is intended for the benefit of, and shall be enforceable as a third party beneficiary by, each present and future holder of Parity Lien Obligations, each present and future Parity Lien Representative and the Collateral Trustee as holder of Parity Liens. The Parity Lien Representative of each future Series of Parity Lien Debt shall be required to deliver a Lien Sharing and Priority Confirmation to the Collateral Trustee and the Trustee at the time of incurrence of such Series of Parity Lien Debt.

Equal and Ratable Sharing of Collateral by Holders of Parity Lien Debt. Notwithstanding: (1) anything to the contrary contained in the Security Documents; ; (2) the time of incurrence of any Series of Parity Lien Debt; ; (3) the order or method of attachment or perfection of any Liens securing any Series of Parity Lien Debt; ; (4) the time or order of filing or recording of financing statements, mortgages or other documents filed or recorded to perfect any Lien upon any Collateral; ; (5) the time of taking possession or control over any Collateral; ; (6) that any Parity Lien may not have been perfected or may be or have become subordinated, by equitable subordination or otherwise, to any other Lien; or or (7) the rules for determining priority under any law governing relative priorities of Liens: (a) all Parity Liens granted at any time by granted to secure any of the Company or any other Pledgor Parity Lien Debt shall secure, equally and ratably, all present and future Parity Lien Obligations; and (b) all proceeds of all Parity Liens granted at any time by granted to secure any of the Company or Parity Lien Debt and any of the other Pledgor Parity Lien Obligations shall be allocated and distributed equally and ratably on account of the Parity Lien Debt and the other Parity Lien Obligations; provided, that in the absence of an Event of Default, OPTI shall be entitled to utilize cash proceeds of Collateral in the ordinary course of its business or as may be required by its financing agreements as existing on the date hereof. The foregoing provision is intended for the benefit of, and shall be enforceable as a third party beneficiary by, each present and future holder of Parity Lien Obligations, each present and future Parity Lien Debt Representative and the Collateral Trustee as holder of Parity Liens. The Parity Lien Debt Representative of each future Series of Parity Lien Debt shall be required to deliver a Lien Parity Debt Sharing and Priority Confirmation to the Collateral Trustee and the Trustee trustee at the time of incurrence of such Series of Parity Lien Debt.

Equal and Ratable Sharing of Collateral by Holders of Parity Lien Debt. Notwithstanding: (1) anything to the contrary contained in the Security Documents; ; (2) the time of incurrence of any Series of Parity Lien Debt; ; (3) the order or method of attachment or perfection of any Liens securing any Series of Parity Lien Debt; ; (4) the time or order of filing or recording of financing statements, mortgages or other documents filed or recorded to perfect any Lien upon any Collateral; ; (5) the time of taking possession or control over any Collateral; ; (6) that any Parity Lien may not have been perfected or may be or have become subordinated, by equitable subordination or otherwise, to any other Lien; or or (7) the rules for determining priority under any law governing relative priorities of Liens: (aA) all Parity Liens granted at any time by granted to secure any of the Company or any other Pledgor Parity Lien Debt shall secure, equally and ratably, all present and future Parity Lien Obligations; and (bB) all proceeds of all Parity Liens granted at any time by granted to secure any of the Company or any Parity Lien Debt and other Pledgor Parity Lien Obligations shall be allocated and distributed equally and ratably on account of the Parity Lien Debt and other Parity Lien Obligations; provided, that, in the absence of an Event of Default, Midwest shall be entitled to utilize cash proceeds of Collateral in the ordinary course of its business or as may be required by its financing agreements as existing on the date of this Indenture. The foregoing provision is intended for the benefit of, and shall be enforceable as a third party beneficiary by, each present and future holder of Parity Lien Obligations, each present and future Parity Lien Debt Representative and the Collateral Trustee as holder of Parity Liens. The Parity Lien Debt Representative of each future Series of Parity Lien Debt shall will be required to deliver a Lien Parity Debt Sharing and Priority Confirmation to the Collateral Trustee and the Trustee at the time of incurrence of such Series of Parity Lien Debt.

Equal and Ratable Sharing of Collateral by Holders of Parity Lien Debt. Notwithstanding: (1) anything to the contrary contained in the Security Documents; ; (2) the time of incurrence of any Series of Parity Lien Debt; ; (3) the order or method of attachment or perfection of any Liens securing any Series of Parity Lien Debt; ; (4) the time or order of filing or recording of financing statements, mortgages or other documents filed or recorded to perfect any Lien upon any Collateral; ; (5) the time of taking possession or control over any Collateral; ; (6) that any Parity Lien may not have been perfected or may be or have become subordinated, by equitable subordination or otherwise, to any other Lien; or or (7) the rules for determining priority under any law governing relative priorities of Liens: (aA) all Parity Liens granted at any time by the Company MagnaChip or any other Pledgor shall will secure, equally and ratably, all present and future Parity Lien Obligations; and (bB) all proceeds of all Parity Liens granted at any time by the Company MagnaChip or any other Pledgor shall will be allocated and distributed equally and ratably on account of the Parity Lien Debt and other Parity Lien Obligations. The foregoing provision is intended for the benefit of, and shall be enforceable as a third party beneficiary by, each present and future holder of Parity Lien Obligations, each present and future Parity Lien Representative and the Parity Lien Collateral Trustee Agent as holder of Parity Liens. The Parity Lien Representative of each future Series of Parity Lien Debt shall will be required to deliver a Lien Sharing and Priority Confirmation to the Parity Lien Collateral Trustee Agent and the Trustee at the time of incurrence of such Series of Parity Lien Debt.

Equal and Ratable Sharing of Collateral by Holders of Parity Lien Debt. Notwithstanding: : (1) anything to the contrary contained in the Security Documents; (2) the time of incurrence of any Series of Parity Lien Debt; (3) the order or method of attachment or perfection of any Liens securing any Series of Parity Lien Debt; (4) the time or order of filing or recording of financing statements, mortgages or other documents filed or recorded to perfect any Lien upon any Collateral; (5) the time of taking possession or control over any Collateral; (6) that any Parity Lien may not have been perfected or may be or have become subordinated, by equitable subordination or otherwise, to any other Lien; or (7) the rules for determining priority under any law governing relative priorities of Liens: (a) all Parity Liens granted at any time by the Company or any other Pledgor shall secure, equally and ratably, all present and future Parity Lien Obligations, and such Liens will be enforceable by the Collateral Trustee for the benefit of all Holders; and (b) all proceeds of all Parity Liens granted at any time by the Company or any other Pledgor shall be allocated and distributed equally and ratably on account of the Parity Lien Debt and other Parity Lien Obligations. The foregoing provision is intended for the benefit of, and shall be enforceable as a third party beneficiary by, each present and future holder of Parity Lien Obligations, each present and future Parity Lien Representative and the Collateral Trustee as holder of Parity Liens. The Parity Lien Representative of each future Series of Parity Lien Debt shall be required to deliver a Lien Sharing and Priority Confirmation to the Collateral Trustee and the Trustee at the time of incurrence of such Series of Parity Lien Debt.

Equal and Ratable Sharing of Collateral by Holders of Parity Lien Debt. Notwithstanding: (1) anything to the contrary contained in the Security Documents; (2) the time of incurrence of any Series of Parity Lien Debt; (3) the order or method of attachment or perfection of any Liens securing any Series of Parity Lien Debt; (4) the time or order of filing or recording of any financing statements, security agreements, mortgages or other documents filed or recorded to perfect any Lien upon any Collateral; (5) the time of taking possession or control over any Collateral; (6) that any Parity Lien may not have been perfected or may be or have become subordinated, by equitable subordination or otherwise, to any other Lien; or (7) the rules for determining priority under any law governing relative priorities of Liens: (a) all Parity Liens granted at any time by the Company or any other Pledgor shall will secure, equally and ratably, all present and future Parity Lien Obligations; and (b) all proceeds of all Parity Liens granted at any time by the Company or any other Pledgor shall will be allocated and distributed equally and ratably on account of the Parity Lien Debt and other Parity Lien Obligations. The foregoing provision . Section 10.01 is intended for the benefit of, and shall will be enforceable as a third party beneficiary by, each present and future holder of Parity Lien Obligations, each present and future Parity Lien Representative and the Collateral Trustee Agent as holder of Parity Liens. The Parity Lien Representative of each future Series of Parity Lien Debt shall will be required to deliver a Lien Sharing and Priority Confirmation to the Collateral Trustee Agent and the Trustee at the time of incurrence of such Series of Parity Lien Debt.

Equal and Ratable Sharing of Collateral by Holders of Parity Lien Debt. Notwithstanding: (1) anything to the contrary contained in the Security Documents; (2) the time of incurrence of any Series of Parity Lien Debt; (3) the order or method of attachment or perfection of any Liens securing any Series of Parity Lien Debt; (4) the time or order of filing or recording of financing statements, mortgages or other documents filed or recorded to perfect any Lien upon any Collateral; (5) the time of taking possession or control over any Collateral; (6) that any Parity Lien may not have been perfected or may be or have become subordinated, by equitable subordination or otherwise, to any other Lien; or (7) the rules for determining priority under any law governing relative priorities of Liens: (a) all Parity Liens granted at any time by the Company or any other Pledgor shall will secure, equally and ratably, all present and future Parity Lien Obligations; and (b) all proceeds of all Parity Liens granted at any time by the Company or any other Pledgor shall will be allocated and distributed equally and ratably on account of the Parity Lien Debt and other Parity Lien Obligations. The foregoing provision . Section 10.01 is intended for the benefit of, and shall will be enforceable as a third party beneficiary by, each present and future holder of Parity Lien Obligations, each present and future Parity Lien Representative and the Collateral Trustee Agent as holder of Parity Liens. The Parity Lien Representative of each future Series of Parity Lien Debt shall will be required to deliver a Lien Sharing and Priority Confirmation to the Collateral Trustee Agent and the Trustee at the time of incurrence of such Series of Parity Lien Debt.

Equal and Ratable Sharing of Collateral by Holders of Parity Lien Debt. (a) Notwithstanding: (1) anything to the contrary contained in the Security Documents; ; (2) the time of incurrence of any Series of Parity Lien Debt; ; (3) the order or method of attachment or perfection of any Liens securing any Series of Parity Lien Debt; ; (4) the time or order of filing or recording of financing statements, mortgages or other documents filed or recorded to perfect any Lien upon any Collateral; ; (5) the time of taking possession or control over any Collateral; ; (6) that any Parity Lien may not have been perfected or may be or have become subordinated, by equitable subordination or otherwise, to any other Lien; or or (7) the rules for determining priority under any law governing relative priorities of Liens: (ai) all Parity Liens granted at any time by the Company or any other Pledgor shall Guarantor will secure, equally and ratably, all present and future Parity Lien Obligations; and and (bii) all proceeds of all Parity Liens granted at any time by the Company or any other Pledgor shall Guarantor will be allocated and distributed equally and ratably on account of the each Series of Parity Lien Debt and other Parity Lien Obligations. The foregoing provision . (b) Section 10.02(a) hereof is intended for the benefit of, and shall will be enforceable as a third party beneficiary by, each present and future holder of Parity Lien Obligations, each present and future Parity Lien Representative and the Collateral Trustee as holder of Parity Liens. The Parity Lien Representative of each future Series of Parity Lien Debt shall will be required to deliver a Lien Sharing and Priority Confirmation to the Priority Collateral Trustee, the Collateral Trustee and the Trustee at the time of incurrence of such Series of Parity Lien Debt.