First Lien Obligations. (i) All First Lien Obligations at any time incurred by any Obligor shall be deemed to have been incurred, and all First Lien Obligations held by First Lien Creditors shall be deemed to have been extended, acquired or obtained, as applicable, in reliance upon this Agreement, and each Second Lien Creditor hereby waives (i) notice of acceptance, or proof of reliance, by each First Lien Creditors of this Agreement, and (ii) notice of the existence, renewal, extension, accrual, creation, or non-payment of all or any part of the First Lien Obligations. Nothing contained in this Agreement shall preclude any First Lien Creditor from discontinuing the extension of credit to any Obligor (whether under the Note Documents or otherwise) or from taking (without notice to any Second Lien Creditor, any Obligor, or any other Person) any other action in respect of the First Lien Obligations or the Collateral which any First Lien Creditor is otherwise entitled to take with respect to the First Lien Obligations or the Collateral.
(ii) None of First Lien Creditors or any of their affiliates, directors, officers, employees, or agents shall be liable for failure to demand, collect, or realize upon any of the Collateral or any Proceeds or for any delay in doing so or shall be under any obligation to sell or otherwise Dispose of any Collateral or Proceeds thereof or to take any other action whatsoever with regard to the Collateral or any part or Proceeds thereof. If any First Lien Creditor should exercise any of its contractual rights or remedies under the Note Documents (subject to the express terms and conditions hereof), First Lien Creditors shall not have any liability whatsoever to any Second Lien Creditor as a result of such action, omission, or exercise. First Lien Creditors will be entitled to manage and supervise their loans and extensions of credit under the Note Documents as First Lien Creditors may, in their sole discretion, deem appropriate, and First Lien Creditors may manage their loans and extensions of credit without regard to any rights or interests that any Second Lien Creditor may have in the Collateral or otherwise except as otherwise expressly set forth in this Agreement. Each Second Lien Creditor agrees that First Lien Creditors shall not incur any liability as a result of a sale, lease, license, application or other Disposition of all or any portion of the Collateral or any part or Proceeds thereof. First Lien Creditors may, from time to time, enter into ag...
First Lien Obligations. Prior to payment in full of all First Lien Obligations, the First Lien Creditor may receive and retain all payments in respect of any First Lien Obligation (including from Collateral).
First Lien Obligations. First Lien Documents with respect to the First Lien Obligations.
First Lien Obligations. So long as the Discharge of First Lien Obligations has not occurred, except as contemplated by Section 3.3(f), each of the Secured Parties agrees that such Secured Party shall not take, accept or permit to exist any additional Liens on any asset or property of any Grantor to secure any Second Lien Obligation unless the Borrower and the Grantors have granted or reasonably contemporaneously grant a First Priority Lien on such asset or property to secure the First Lien Obligations. To the extent that the provisions of the immediately preceding sentence are not complied with for any reason, without limiting any other rights and remedies available to the First Lien Security Agents and/or the other First Lien Secured Parties, each Second Lien Security Agent, on behalf of the Second Lien Secured Parties, agrees that any amounts received by or distributed to any of them pursuant to or as a result of Liens on the Collateral granted in contravention of this Section 2(c)(i) shall be subject to Section 3.2(a).
First Lien Obligations. The Credit Agreement Obligations and the Pari Passu Permitted Other Debt Obligations (together with any hedging, and cash management and contingent indemnification obligations relating thereto).
First Lien Obligations. No Note Party shall, and no Note Party shall permit any Subsidiary or Affiliate of such Note Party to, hold any First Lien Obligations.
First Lien Obligations. As of the Closing Date and other than with respect to the (i) Liens created by the Praesidian Deeds of Trust which may become subordinate to the Lien created by the Great Southern Deeds of Trust pursuant to the terms of the Lien Priority Agreement and (ii) Liens in favor of the Agent which may become subject to the terms of the Intercreditor Agreement, the Liens in favor of the Agent securing the Obligations constitute Liens entitled to the benefit of lien subordination provisions contained in any subordination agreement the terms of which are applicable thereto.
First Lien Obligations. So long as the Discharge of First Lien Obligations has not occurred, except as contemplated by Section 3.5(c)(i) and Section 4.5(d)(i), each of the Secured Parties agrees that such Secured Party shall not take, accept or permit to exist any additional Liens on any asset or property of any Grantor to secure any Revolving Facility Obligation or, if any Additional Second Lien Obligations have been issued, any Second Lien Obligation unless the Company and the Grantors have granted or reasonably contemporaneously grant (A) a First Priority Lien on such asset or property to secure the First Lien Obligations if such asset or property constitutes Notes Priority Collateral or (B) a Second Priority Lien (or, after the Discharge of Revolving Facility Obligations, a First Priority Lien) on such asset or property to secure the First Lien Obligations if such asset or property constitutes Revolving Facility Priority Collateral. To the extent that the provisions of clause (A) in the immediately preceding sentence are not complied with for any reason, without limiting any other rights and remedies available to the First Lien Security Agent and/or the other First Lien Secured Parties, each of the Second Lien Security Agent, on behalf of the Second Lien Secured Parties, and the Revolving Facility Agent, on behalf of the Revolving Facility Secured Parties, agrees that any amounts received by or distributed to any of them pursuant to or as a result of Liens on the Notes Priority Collateral granted in contravention of such clause (A) of this Section 2(c)(i) shall be subject to Section 3.3(a).
First Lien Obligations. So long as the Discharge of First Lien Obligations has not occurred, except as contemplated by Section 3.5(c)(i) and Section 4.5(d)(i), each of the Secured Parties agrees that such Secured Party shall not take, accept or permit to exist any additional Liens on any asset or property of any Grantor to secure any Revolving Facility Obligation or, if any Additional Second Lien Obligations have been issued, any Second Lien Obligation unless the Company and the Grantors have granted or reasonably contemporaneously grant (A) a First Priority Lien on such asset or property to secure the First Lien Obligations if such asset or property constitutes Notes Priority Collateral or (B) a Second Priority Lien (or, after the Discharge of Revolving Facility Obligations, a First Priority Lien) on such asset or property to secure the First Lien Obligations if such asset or property constitutes Revolving
First Lien Obligations. The definition of “First-Lien Obligations” set forth in Section 1.1 of the Indenture is hereby amended by adding a second sentence as set forth below: This definition shall specifically include any Incremental Term Loans (as defined in the First-Lien Credit Agreement) under the First-Lien Credit Agreement so long as all Indebtedness under the First-Lien Credit Agreement does not exceed the Maximum First-Lien Credit Documents Principal Amount.
