Common use of Intercreditor Arrangements Clause in Contracts

Intercreditor Arrangements. (i) Each Agent is authorized to enter into or amend any intercreditor or Subordination Agreement with respect to Indebtedness that is (A) required or permitted to be subordinated hereunder and/or (B) secured by Xxxxx (other than Liens on Collateral contemplated to rank senior or on an equal priority basis with the Liens securing the Obligations) and which Indebtedness contemplates or would necessitate an intercreditor, subordination or collateral trust agreement (any such agreement, an “Additional Agreement”), and the Secured Parties acknowledge that the Additional Agreements are binding upon them. Each Secured Party (a) agrees that it will be bound by, and will not take any action contrary to, the provisions of any Additional Agreement and (b) hereby authorizes and instructs the Administrative Agent and the Collateral Agent to enter into the Additional Agreements and to subject the Liens on the Collateral securing the Obligations to the provisions thereof. (ii) [Reserved].

Intercreditor Arrangements. (i) Each The Administrative Agent is authorized to enter into or amend any intercreditor or Subordination Agreement subordination agreement with respect to Indebtedness that is (Ai) required or permitted to be subordinated hereunder and/or (Bii) secured by Xxxxx (other than Liens on Collateral contemplated to rank senior or on an equal priority basis with the Liens securing the Obligations) and which Indebtedness contemplates or would necessitate an intercreditor, subordination or collateral trust agreement agreement, including, for the avoidance of doubt, any Refinancing Debt Intercreditor Agreement (any such agreement, an “Additional Agreement”), and the Secured Parties acknowledge that the any Additional Agreements are Agreement is binding upon them. Each Secured Party (a) agrees that it will be bound by, and will not take any action contrary to, the provisions of any Additional Agreement and (b) hereby authorizes and instructs the Administrative Agent and the Collateral Agent to enter into the any Additional Agreements Agreement and to subject the Liens on the Collateral securing the Obligations to the provisions thereof. (ii) [Reserved].