Common use of Intercreditor Agreement and Subordination Agreement Clause in Contracts

Intercreditor Agreement and Subordination Agreement. Each Lender hereby grants to the Administrative Agent all requisite authority to enter into or otherwise become bound by, and to perform its obligations and exercise its rights and remedies under any intercreditor agreement or subordination agreement with respect to Indebtedness to the extent the Administrative Agent is otherwise contemplated as being a party to such intercreditor agreement or subordination agreement, and to bind the Secured Parties thereto by the Administrative Agent's entering into or otherwise becoming bound thereby, and no further consent or approval on the part of any Lender is or will be required in connection with the performance by the Administrative Agent of the any intercreditor agreement or subordination agreement.