Common use of Lien Sharing and Priority Confirmation Clause in Contracts

Lien Sharing and Priority Confirmation. [Option A: to be used if Additional Debt constitutes Revolving Facility Obligations] The undersigned New Representative, on behalf of itself and each holder of Revolving Facility Obligations for which the undersigned is acting as [Revolving Facility Administrative Agent] hereby agrees, for the benefit of all Secured Parties, and as a condition to having such Obligations being treated as Revolving Facility Obligations under the Intercreditor Agreement, that the New Representative is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Revolving Facility Liens. [or] [Option B: to be used if Additional Debt constitutes Shared Obligations] The undersigned New Representative, on behalf of itself and each holder of Shared Obligations for which the undersigned is acting as [First Lien Term Facility Agent] [Second Lien Term Facility Agent] [First Lien Notes Agent] [Second Lien Notes Agent] hereby agrees, for the benefit of all Secured Parties, and as a condition to having such Obligations being treated as Shared Obligations under the Intercreditor Agreement, that the New Representative is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Shared Obligations Liens.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Houghton Mifflin Harcourt Co), Term Loan Credit Agreement (Houghton Mifflin Harcourt Co)

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Lien Sharing and Priority Confirmation. [Option A: to be used if Additional Debt constitutes Revolving Facility Obligations] The undersigned New Representative, on behalf of itself and each holder of Revolving Facility Obligations for which the undersigned is acting as [Revolving Facility Administrative Agent] hereby agrees, for the benefit of all Secured Parties, and as a condition to having such Obligations being treated as Revolving Facility Obligations under the Intercreditor Agreement, that the New Representative is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Revolving Facility Liens. [or] [Option B: to be used if Additional Debt constitutes Shared Term Facility Obligations] The undersigned New Representative, on behalf of itself and each holder of Shared Term Facility Obligations for which the undersigned is acting as [First Lien Term Facility Agent] [Second Lien Term Facility Agent] [First Lien Notes Agent] [Second Lien Notes Administrative Agent] hereby agrees, for the benefit of all Secured Parties, and as a condition to having such Obligations being treated as Shared Term Facility Obligations under the Intercreditor Agreement, that the New Representative is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Shared Obligations Term Facility Liens.

Appears in 1 contract

Samples: Term Loan / Revolving Facility Lien Subordination and Intercreditor Agreement (HMH Holdings (Delaware), Inc.)

Lien Sharing and Priority Confirmation. [Option A: to be used if Additional Debt constitutes Revolving Facility Obligations] The undersigned New Representative, on behalf of itself and each holder of Obligations in respect of the [Revolving Facility Obligations Credit Lien Obligations] [Series of [Pari Passu] [Subordinated Lien] Debt for which the undersigned is acting as [Revolving Facility Administrative AgentPari Passu] [Subordinated Lien] Representative] hereby agrees, for the enforceable benefit of all Secured Partiesholders of the Obligations, each existing and future Revolving Credit Agent, each existing and future Pari Passu Representative, and each [existing and] future Subordinated Lien Representative and as a condition to having such Obligations being treated as [Revolving Facility Obligations Credit Lien Obligations] [Pari Passu] [Subordinated Lien] Debt] under the Intercreditor Agreement, : (a) that the New Representative and each holder of Obligations in respect of the [Revolving Credit Lien Obligations] [Series of [Pari Passu] [Subordinated Lien] Debt for which the undersigned is acting as [a Revolving Credit Agent] [Pari Passu] [Subordinated Lien] Representative] are bound by the provisions of the Intercreditor Agreement, including the provisions relating to the 844805.3D-Chicago Server 2A - MSW ranking of Revolving Facility Liens. [or] [Option B: to be used if Additional Debt constitutes Shared Liens securing the Obligations and the order of application of proceeds from the enforcement of Liens securing the Obligations] The undersigned New Representative, on behalf of itself and each holder of Shared Obligations for which the undersigned is acting as [First Lien Term Facility Agent] [Second Lien Term Facility Agent] [First Lien Notes Agent] [Second Lien Notes Agent] hereby agrees, for the benefit of all Secured Parties, and as a condition to having such Obligations being treated as Shared Obligations under the Intercreditor Agreement, that the New Representative is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Shared Obligations Liens.; and

Appears in 1 contract

Samples: Short Term Credit Agreement (Novelis Inc.)

Lien Sharing and Priority Confirmation. [Option A: to be used if Additional Debt constitutes Revolving US Facility Obligations] The undersigned New Representative, on behalf of itself and each holder of Revolving US Facility Obligations for which the undersigned is acting as [Revolving US Facility Administrative Agent] hereby agrees, for the benefit of all Secured Parties, and as a condition to having such Obligations being treated as Revolving US Facility Obligations under the Intercreditor Agreement, that the New Representative is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Revolving US Facility Liens. [or] [Option B: to be used if Additional Debt constitutes Shared Revolving Foreign Facility Obligations] The undersigned New Representative, on behalf of itself and each holder of Shared Revolving Foreign Facility Obligations for which the undersigned is acting as [First Lien Term Revolving Foreign Facility Agent] [Second Lien Term Facility Agent] [First Lien Notes Agent] [Second Lien Notes Administrative Agent] hereby agrees, for the benefit of all Secured Parties, and as a condition to having such Obligations being treated as Shared Revolving Foreign Facility Obligations under the Intercreditor Agreement, that the New Representative is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Shared Revolving Foreign Facility Liens. [or] [Option C: to be used if Additional Debt constitutes Term Facility Obligations] The undersigned New Representative, on behalf of itself and each holder of Term Facility Obligations for which the undersigned is acting as [Term Facility Administrative Agent] hereby agrees, for the benefit of all Secured Parties, and as a condition to having such Obligations being treated as Term Facility Obligations under the Intercreditor Agreement, that the New Representative is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Term Facility Liens.

Appears in 1 contract

Samples: Senior Secured Term Facility Credit Agreement (Chemtura CORP)

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Lien Sharing and Priority Confirmation. [Option A: to be used if Additional Debt constitutes Revolving Facility Obligations] The undersigned New Representative, on behalf of itself and each holder of Obligations in respect of the [Revolving Facility Obligations Credit Lien Obligations] [Series of [Pari Passu] [Subordinated Lien] Debt for which the undersigned is acting as [Revolving Facility Administrative AgentPari Passu] [Subordinated Lien] Representative] hereby agrees, for the enforceable benefit of all Secured Partiesholders of the Obligations, each existing and future Revolving Credit Agent, each existing and future Pari Passu Representative, and each [existing and] future Subordinated Lien Representative and as a condition to having such Obligations being treated as [Revolving Facility Obligations Credit Lien Obligations] [Pari Passu] [Subordinated Lien] Debt] under the Intercreditor Agreement, : (a) that the New Representative and each holder of Obligations in respect of the [Revolving Credit Lien Obligations] [Series of [Pari Passu] [Subordinated Lien] Debt for which the undersigned is acting as [a Revolving Credit Agent] [Pari Passu] [Subordinated Lien] Representative] are bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Revolving Facility Liens. [or] [Option B: to be used if Additional Debt constitutes Shared Liens securing the Obligations and the order of application of proceeds from the enforcement of Liens securing the Obligations] The undersigned New Representative, on behalf of itself and each holder of Shared Obligations for which the undersigned is acting as [First Lien Term Facility Agent] [Second Lien Term Facility Agent] [First Lien Notes Agent] [Second Lien Notes Agent] hereby agrees, for the benefit of all Secured Parties, and as a condition to having such Obligations being treated as Shared Obligations under the Intercreditor Agreement, that the New Representative is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Shared Obligations Liens.; and

Appears in 1 contract

Samples: Intercreditor Agreement (Novelis Inc.)

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