Intercreditor Agreement Controlling Sample Clauses
The "Intercreditor Agreement Controlling" clause establishes that the terms of the intercreditor agreement take precedence over any conflicting provisions in other related financing documents. In practice, this means that if there is a discrepancy between the intercreditor agreement and, for example, a loan agreement or security agreement, the intercreditor agreement's terms will govern the relationship and rights among the creditors. This clause is essential for ensuring consistency and avoiding disputes among creditors by providing a clear hierarchy of documents, thereby reducing uncertainty and potential litigation over conflicting terms.
Intercreditor Agreement Controlling. Notwithstanding anything herein to the contrary, the liens and security interests granted to the Agent pursuant to this Agreement and the exercise of any right or remedy by the Agent hereunder, in each case, with respect to the Collateral are subject to the limitations and provisions for the Intercreditor Agreement. In the event of any inconsistency between the terms or conditions of this Agreement and the terms and conditions of the Intercreditor Agreement, the terms and conditions of the Intercreditor Agreement shall control.
Intercreditor Agreement Controlling. Notwithstanding anything herein to the contrary, the liens and security interests granted to the Agent pursuant to this Agreement, the exercise of any right or remedy by the Agent hereunder and any obligation of any Grantor to take any action, in each case, with respect to the Collateral are subject to the limitations and provisions of the Intercreditor Agreement. In the event of any inconsistency between the terms or conditions of this Agreement and the terms and conditions of the Intercreditor Agreement, the terms and conditions of the Intercreditor Agreement shall control. Notwithstanding anything herein to the contrary, prior to the First Priority Obligations Payment Date (as defined in the Intercreditor Agreement) with respect to the Term Loan Priority Collateral (as defined in the Intercreditor Agreement), (i) no Grantor shall be required to act or refrain from acting with respect to any Term Loan Priority Collateral (as defined in the Intercreditor Agreement) if compliance by such Grantor with such requirement would result in a breach of or constitute a default under the Intercreditor Agreement, (ii) the requirements of this Agreement to deliver any physical Collateral and any certificates, instruments or documents in relation thereto (or control thereof) to the Agent shall be deemed satisfied by delivery of such Collateral and such certificates, instruments or documents in relation thereto (or control thereof) to the New Money Term Loan Agent (as defined in the Intercreditor Agreement) and (iii) any provision of Section 4 requiring or authorizing any action by, or requiring that any action or delivery be satisfactory to, the Agent shall instead be deemed to require or authorize such action by, or that such action or delivery be satisfactory to, the New Money Term Loan Agent (as defined in the Intercreditor Agreement); provided that this clause (iii) shall not be applicable to the last sentence of Section 4(d).
Intercreditor Agreement Controlling. Each Party hereby agrees that in the event of any conflict between this Agreement and the Intercreditor Agreement, the Intercreditor Agreement shall govern and be controlling. 1803391.06-NYCSR03A - MSW
Intercreditor Agreement Controlling. Notwithstanding anything herein to the contrary, the liens and security interests granted to the Agent pursuant to this Agreement, the exercise of any right or remedy by the Agent hereunder and any obligation of any Grantor to take any action, in each case, with respect to the Collateral are subject to the limitations and provisions of the Intercreditor Agreement. In the event of any inconsistency between the terms or conditions of this Agreement and the terms and conditions of the Intercreditor Agreement, the terms and conditions of the Intercreditor Agreement shall control. Notwithstanding anything herein to the contrary, prior to the First Priority Obligations Payment Date (as defined in the Intercreditor Agreement) with respect to the Term Loan Priority Collateral (as defined in the Intercreditor Agreement), (i) no Grantor shall be required to act or refrain from acting with respect to any Term Loan Priority Collateral (as defined in the Intercreditor Agreement) if compliance by such Grantor with such requirement would result in a breach of or constitute a default under the Intercreditor Agreement, (ii) the requirements of this Agreement to deliver any physical Collateral and any certificates, instruments or documents in relation thereto (or control thereof) to the Agent shall be deemed satisfied by delivery of such