Common use of Nature of First Lien Obligations Clause in Contracts

Nature of First Lien Obligations. The Second Lien Collateral Agent, on behalf of itself and each Second Lien Secured Party, acknowledges that (a) a portion of the First Lien Obligations 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, (b) the terms of the First Lien Documents and the First Lien Obligations may be amended, supplemented or otherwise modified, and the First Lien Obligations, or a portion thereof, may be Refinanced from time to time and (c) the aggregate amount of the First Lien Obligations may be increased, in each case, without notice to or consent by the Second Lien Collateral Agent or the Second Lien Secured Parties and without affecting the provisions hereof. The Lien priorities provided for in Section 2.1 shall not be altered or otherwise affected by any amendment, supplement or other modification, or any Refinancing, of either the First Lien Obligations or the Second Lien Obligations, or any portion thereof. As between the Borrower and the other Grantors and the Second Lien Secured Parties, the foregoing provisions will not limit or otherwise affect the obligations of the Borrower and the Grantors contained in any Second Lien Document with respect to the incurrence of additional First Lien Obligations

Nature of First Lien Obligations. The Each Second Lien Collateral AgentAuthorized Representative, on behalf of itself and each its Second Lien Secured PartyParties, acknowledges that (a) a portion of the First Lien Obligations 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, (b) the terms of the First Lien Documents and the First Lien Obligations may be amended, supplemented or otherwise modified, and the First Lien Obligations, or a portion thereof, may be Refinanced from time to time and (c) the aggregate amount of the First Lien Obligations may be increased, in each case, without notice to or consent by the any Second Lien Collateral Agent Authorized Representative or the Second Lien Secured Parties Party and without affecting the provisions hereof. The Lien priorities provided for in Section 2.1 2.01 shall not be altered or otherwise affected by any amendment, supplement or other modification, or any Refinancing, of either the First Lien Obligations or the Second Lien Obligations, or any portion thereof. As between the Parent, the Borrower and the other Grantors and the Second Lien Secured Parties, the foregoing provisions will not limit or otherwise affect the obligations of the Parent, the Borrower and the other Grantors contained in any Second Lien Document with respect to the incurrence of additional First Lien Obligations.

Nature of First Lien Obligations. The Second Lien Collateral Administrative Agent, for itself and on behalf of itself and each the other Second Lien Secured PartyParties, acknowledges that that, subject to the limitations on the aggregate principal amount of First Lien Obligations set forth in the definition of “First Lien Obligations” and Section 5.3, (a) a portion of the First Lien Obligations is are revolving in nature and that nature, (b) the amount thereof of such revolving First Lien Obligations that may be outstanding at any time or from time to time may be increased or reduced and subsequently reborrowed, (bc) the terms of the First Lien Documents and the First Lien Obligations may be amended, supplemented or otherwise modified, and the First Lien Obligations, extended or a portion thereof, may be Refinanced amended from time to time and (cd) the aggregate amount of the First Lien Obligations may be increasedincreased or Refinanced (in accordance with the terms hereof and the First Lien Loan Documents), in each caseeither event, without notice to or consent by the Second Lien Collateral Agent or the Second Lien Secured Parties and without affecting the provisions hereof. The Subject to the limitations on the aggregate principal amount of First Lien Obligations set forth in the definition of “First Lien Obligations” and Section 5.3, the lien priorities provided for in Section Sections 2.1 and 2.2 shall not be altered or otherwise affected by any such amendment, supplement or other modification, supplement, extension, repayment, reborrowing, increase, replacement, renewal, restatement or any Refinancing, Refinancing of either the First Lien Obligations or the Second Lien Obligations, or any portion thereof. As between the Borrower and the other Grantors and the Second Lien Secured Parties, the foregoing provisions will not limit or otherwise affect the obligations of the Borrower and the Grantors contained in any Second Lien Document with respect to the incurrence of additional First Lien Obligations.