Common use of Impairment of Liens Clause in Contracts

Impairment of Liens. The Company shall not, and shall not permit any Restricted Subsidiary to, take or omit to take any action that would have the result of materially impairing the Lien with respect to the Collateral (it being understood that the Incurrence of Permitted Collateral Liens shall under no circumstances be deemed to materially impair the Lien with respect to the Collateral) for the benefit of the Secured Parties, and the Company shall not, and shall not permit any Restricted Subsidiary to, grant to any Person other than a Collateral Agent, for the benefit of the Secured Parties, any interest whatsoever in any of the Collateral, except that the Company and its Restricted Subsidiaries may Incur Permitted Collateral Liens and the Collateral may be discharged and released in accordance with the Credit Documents.

Impairment of Liens. The Company shall not, and the Company shall not permit any Restricted Subsidiary to, take or knowingly or negligently omit to take take, any action that which action or omission might or would have the result of materially impairing the Lien Term Loan Liens granted by the Term Lender with respect to this Agreement, the other Loan Documents, and the Collateral for the benefit of the Term Lender Notes Trustee and the holders of the Term Lender Notes and the Term Loan Liens granted by the Company with respect to the Collateral (it being understood that the Incurrence of Permitted Collateral Liens shall under no circumstances be deemed to materially impair the Lien with respect to the Collateral) for the benefit of the Secured PartiesTerm Lender. Except as permitted by this Agreement and the Loan Documents, and the Company shall not, and shall not permit any Restricted Subsidiary to, grant to any Person other than a Collateral the Administrative Agent, for the benefit of the Secured PartiesAdministrative Agent and the Lenders, any interest whatsoever in any of the Collateral, except that the Company and its Restricted Subsidiaries may Incur Permitted Collateral Liens and the Collateral may be discharged and released in accordance with the Credit Documents.