Common use of German Parallel Debt Clause in Contracts

German Parallel Debt. (a) For purposes of (i) creating a Security in or subject to the laws of Germany and any other jurisdiction whose laws permit Security to be granted to the Security Trustee only to secure obligations directly owing to the Security Trustee and (ii) ensuring the initial and continuing validity of each such Security, each Obligor, the Finance Parties and the Security Trustee, agree that notwithstanding anything to the contrary contained in this Agreement or any Finance Document:

German Parallel Debt. (a) For purposes of (i) creating a Security in taking security in, or subject to the laws of of, Germany and any other jurisdiction whose laws permit Security to be granted to the Security Trustee only to secure obligations directly owing to the Security Trustee and (ii) ensuring the initial and continuing continued validity of each such Securitysecurity, each Obligorof the Administrative Agent, the Finance Parties Lenders and the Security Trustee, agree that notwithstanding anything to the contrary contained in this Agreement or any Finance DocumentLoan Parties agree: