Common use of Nature of ABL Obligations Clause in Contracts

Nature of ABL Obligations. The Term Loan Agent on behalf of itself and the other Term Loan Secured Parties acknowledges that a portion of the ABL Obligations represents debt that is revolving in nature and that the amount thereof that may be outstanding at any time or from time to time may be increased or reduced and subsequently reborrowed, and that the terms of the ABL Obligations may be modified, extended or amended from time to time, and that the aggregate amount of the ABL Obligations may be increased, replaced or refinanced, in each event without notice to or consent by the Term Loan Secured Parties and without affecting the provisions hereof. The lien priorities provided in Section 2.1 shall not be altered or otherwise affected by any such amendment, modification, supplement, extension, repayment, reborrowing, increase, replacement, renewal, restatement or refinancing of either the ABL Obligations or the Term Loan Obligations or any portion thereof.

Nature of ABL Obligations. The Term Loan Agent Collateral Agent, for itself and on behalf of itself and the other Term Loan Secured Parties Parties, acknowledges that a portion of (a) the ABL Obligations represents debt that is are revolving in nature and that nature, (b) the amount thereof that may be outstanding at any time or from time to time may be increased or reduced and subsequently reborrowed, and that (c) the terms of the ABL Obligations may be modified, extended or amended from time to time, and that (d) the aggregate amount of the ABL Obligations may be increased, replaced increased or refinancedRefinanced, in each event either event, without notice to or consent by the Term Loan Secured Parties and without affecting the provisions hereof. The lien priorities provided in Section 2.1 shall not be altered or otherwise affected by any such amendment, modification, supplement, extension, repayment, reborrowing, increase, replacement, renewal, restatement or refinancing Refinancing of either the ABL Obligations or the Term Loan Obligations Obligations, or any portion thereof.