Maximum Amount With Respect to Secured Obligations of Endo and Subsidiaries Clause Samples

Maximum Amount With Respect to Secured Obligations of Endo and Subsidiaries. The Secured Obligations hereunder, and all other secured obligations which are secured with the obligations hereunder on a pari passu basis and are subject to the terms of an Intercreditor Agreement, shall be secured by the Loan Documents (or the security documents entered into in connection with such other pari passu Indebtedness); provided that, for purposes hereof and of all security documents (and related Liens) of Endo and its Restricted Subsidiaries (as defined in the Existing Senior Notes Indentures) which are Loan Parties, the maximum amount of secured obligations for purposes thereof shall be limited to the Endo Maximum Secured Amount at such time. It is understood and agreed that amounts realized upon enforcement of any such security shall be distributed in accordance with the terms hereof or of the Intercreditor Agreement, as the case may be, but in no event shall the amount secured for purposes hereof and thereof exceed the Endo Maximum Secured Amount at such time. The provisions of this Section 1.06 shall not limit the amount of Obligations of (or limit the amount of any guaranty of Obligations by) Endo or any of its Subsidiaries which are Loan Parties. Furthermore, the provisions of this Section 1.06 shall not apply to, or limit the secured amount of Obligations of any Loan Party other than Endo and any of its Restricted Subsidiaries (as defined in the Existing Senior Notes Indentures). If any debt (other than the Endo Secured Intercompany Proceeds Loan) is secured by the Collateral on a junior priority basis, the respective Intercreditor Agreement shall be required to acknowledge that the Endo Maximum Secured Amount shall be entirely allocated to the Secured Obligations and any other debt secured equally and ratably therewith until paid in full in cash.