Common use of GRANTORS AND SECURITY Clause in Contracts

GRANTORS AND SECURITY. (a) Each Note Guarantee will be an upstream, cross-stream and downstream Guarantee and each Note Guarantee and security will be for all liabilities of the Issuer and each Guarantor (other than CCM) and any Grantors (other than CCM) under the Debt Documents in accordance with, and subject to the requirements of the Agreed Security Principles in each relevant jurisdiction. (b) To the extent possible, all security shall be given in favor of the Security Agent in respect of the applicable Intercreditor Agreement and not the Secured Parties individually. “Parallel debt” provisions will be used where necessary; such provisions will be contained in the Intercreditor Agreements or the relevant transaction document and not the individual Security Documents unless required under local laws.

GRANTORS AND SECURITY. (a) Each Note Guarantee will be an upstream, cross-stream and downstream Guarantee and each Note Guarantee and security will be for all liabilities of the Issuer and each Guarantor (other than CCM) and any Grantors (other than CCM) under the Debt Documents in accordance with, and subject to the requirements of the Agreed Security Principles in each relevant jurisdiction. (b) To the extent possible, all security shall be given in favor of the Security Agent in respect of the applicable Intercreditor Agreement and not the Secured Parties individually. “Parallel debt” provisions will be used where necessary; such provisions will be contained in the Intercreditor Agreements Agreement or the relevant transaction document and not the individual Security Documents unless required under local laws.

GRANTORS AND SECURITY. (a) Each Note Guarantee will be an upstream, cross-stream and downstream Guarantee and each Note Guarantee and security will be for all liabilities of the Issuer and each Guarantor (other than CCM) Issuer, the Guarantors and any Grantors (other than CCM) under pursuant to the relevant Debt Documents in accordance with, and subject to the requirements of the Agreed Security Principles in each relevant jurisdiction. (b) To the extent possible, all security shall be given in favor of the Security Agent in respect of the applicable Intercreditor Agreement and not the Secured Parties individually. “Parallel debt” provisions will be used where necessary; such provisions will be contained in the Intercreditor Agreements Agreement or the relevant transaction document and not the individual Security Documents unless required under local laws.