Common use of Nature of Obligations Clause in Contracts

Nature of Obligations. The priorities of the Liens provided in Section 2.1 shall not be altered or otherwise affected by (a) any Refinancing of the First Lien Obligations or the Second Lien Obligations or (b) any action or inaction which any of the First Lien Claimholders or the Second Lien Claimholders may take or fail to take in respect of the Collateral. Each Second Lien Collateral Agent, for itself and on behalf of its Related Second Lien Claimholders, agrees and acknowledges that (i) 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, (ii) 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 (iii) the aggregate amount of the First Lien Obligations may be increased, in each case, without notice to or consent by the Second Lien Collateral Agents or the Second Lien Claimholders and without affecting the provisions hereof, except as otherwise expressly set forth herein. As between the Borrowers and the other Obligors and the Second Lien Claimholders, the foregoing provisions will not limit or otherwise affect the obligations of the Borrowers and the Obligors contained in any Second Lien Document with respect to the incurrence of additional First Lien Obligations.

Nature of Obligations. The priorities of the Liens provided in Section 2.1 2.01 shall not be altered or otherwise affected by (a) any Refinancing of the First Lien First-Priority Obligations or the Second Lien Second-Priority Obligations or (b) any action or inaction which any of the First Lien Claimholders First-Priority Secured Parties or the Second Lien Claimholders Second-Priority Secured Parties may take or fail to take in respect of the Common Collateral. Each Second Lien Collateral AgentSecond-Priority Representative, for itself and on behalf of its Related Second Lien Claimholderseach applicable Second-Priority Secured Parties, agrees and acknowledges that (i) a portion of the First Lien First-Priority Obligations is may be 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, (ii) the terms of the First Lien First-Priority Collateral Documents and the First Lien First-Priority Obligations may be amended, restated, supplemented or otherwise modified, and the First Lien First-Priority Obligations, or a portion thereof, may be Refinanced from time to time and (iii) the aggregate amount of the First Lien First-Priority Obligations may be increased, in each case, without notice to or consent by the Second Lien Second-Priority Collateral Agents or the Second Lien Claimholders Second-Priority Secured Parties and without affecting the provisions hereof, except as otherwise expressly set forth herein. As between the Borrowers Company and the other Obligors and the Second Lien ClaimholdersGrantors, the foregoing provisions will not limit or otherwise affect the obligations of the Borrowers Company and the Obligors Grantors contained in any Second Lien Second-Priority Document with respect to the incurrence of additional First Lien First-Priority Obligations.

Nature of Obligations. The priorities of the Liens provided in Section 2.1 shall not be altered or otherwise affected by (a) any Refinancing of the First Lien Obligations or the Second Lien Obligations or (b) any action or inaction which any of the First Lien Claimholders or the Second Lien Claimholders may take or fail to take in respect of the Collateral. Each Second Lien Collateral Agent, for itself and on behalf of its Related Second Lien Claimholders, agrees and acknowledges that (i) 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, (ii) 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 (iii) the aggregate amount of the First Lien Obligations may be increased, in each case, without notice to or consent by the Second Lien Collateral Agents or the Second Lien Claimholders and without affecting the provisions hereof, except as otherwise expressly set forth herein. As between the Borrowers Borrower and the other Obligors and the Second Lien Claimholders, the foregoing provisions will not limit or otherwise affect the obligations of the Borrowers Borrower and the Obligors contained in any Second Lien Document with respect to the incurrence of additional First Lien Obligations.

Nature of Obligations. The priorities of the Liens provided in Section 2.1 shall not be altered or otherwise affected by (a) any Refinancing of the First Lien Obligations or the Second Lien Obligations or (b) any action or inaction which any of the First Lien Claimholders or the Second Lien Claimholders may take or fail to take in respect of the Collateral. Each Second Lien Collateral Agent, for itself and on behalf of its Related Second Lien Claimholders, agrees and acknowledges that (i) 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, (ii) 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 (iii) the aggregate amount of the First Lien Obligations may be increased, in each case, without notice to or consent by the Second Lien Collateral Agents or the Second Lien Claimholders and without affecting the provisions hereof, except as otherwise expressly set forth herein. As between the Borrowers Top Borrower and the other Obligors and the Second Lien Claimholders, the foregoing provisions will not limit or otherwise affect the obligations of the Borrowers Top Borrower and the Obligors contained in any Second Lien Document with respect to the incurrence of additional First Lien Obligations.

Nature of Obligations. The priorities of the Liens provided in Section 2.1 2.01 shall not be altered or otherwise affected by (a) any Refinancing of the First Lien First-Priority Obligations or the Second Lien Second-Priority Obligations or (b) any action or inaction which any of the First Lien Claimholders First-Priority Secured Parties or the Second Lien Claimholders Second-Priority Secured Parties may take or fail to take in respect of the Common Collateral. Each Second Lien Collateral AgentSecond-Priority Representative, for itself and on behalf of its Related Second Lien ClaimholdersSecured Parties, agrees and acknowledges that (i) a portion of the First Lien First-Priority Obligations is may be 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, (ii) the terms of the First Lien First-Priority Collateral Documents and the First Lien First-Priority Obligations may be amended, restated, amended and restated, supplemented or otherwise modified, and the First Lien First-Priority Obligations, or a portion thereof, may be Refinanced from time to time and (iii) the aggregate amount of the First Lien First-Priority Obligations may be increased, in each case, without notice to or consent by the Second Lien Collateral Agents Second-Priority Representatives or the Second Lien Claimholders Second-Priority Secured Parties and without affecting the provisions hereof, except as otherwise expressly set forth herein. As between the Borrowers Company and the other Obligors and the Second Lien ClaimholdersGrantors, the foregoing provisions will not limit or otherwise affect the obligations of the Borrowers Company and the Obligors Grantors contained in any Second Lien Second-Priority Document with respect to the incurrence of additional First Lien First-Priority Obligations.

Nature of Obligations. The priorities of the Liens provided in Section 2.1 shall not be altered or otherwise affected by (a) any Refinancing of the First Lien Obligations or the Second Lien Obligations or (b) any action or inaction which any of the First Lien Claimholders or the Second Lien Claimholders may take or fail to take in respect of the Collateral. Each The Second Lien Collateral AgentAgent and each Second Lien Representative, for itself and on behalf of its Related Second Lien Claimholders, agrees and acknowledges that (i) 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, (ii) 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 (iii) the aggregate amount of the First Lien Obligations may be increased, in each case, without notice to or consent by the Second Lien Collateral Agents Agent or the other Second Lien Claimholders and without affecting the provisions hereof, except as otherwise expressly set forth herein. As between the Parent, the Borrowers and the other Obligors and the Second Lien Claimholders, the foregoing provisions will not limit or otherwise affect the obligations of the Parent, the Borrowers and the Obligors contained in any Second Lien Document with respect to the incurrence of additional First Lien Obligations.

Nature of Obligations. The priorities of the Liens provided in Section 2.1 shall not be altered or otherwise affected by (a) any Refinancing of the First Lien Obligations or the Second Lien Obligations or (b) any action or inaction which that any of the First Lien Claimholders or the Second Lien Claimholders may take or fail to take in respect of the Collateral. Each Second Lien Collateral Agent, for itself and on behalf of its Related Second Lien Claimholders, agrees and acknowledges that (i) 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, (ii) 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 (iii) the aggregate amount of the First Lien Obligations may be increasedincreased (subject to any limitations with respect thereto set forth in the Second Lien Documents), in each case, without notice to or consent by the Second Lien Collateral Agents or the Second Lien Claimholders and without affecting the provisions hereof, except as otherwise expressly set forth herein. As between the Borrowers Parent Borrower and the other Obligors Obligors, on the one hand, and the Second Lien Claimholders, on the other hand, the foregoing provisions will not limit or otherwise affect the obligations of the Borrowers Parent Borrower and the other Obligors contained in any Second Lien Document with respect to the incurrence of additional First Lien Obligations.

Nature of Obligations. The priorities of the Liens provided in Section 2.1 shall not be altered or otherwise affected by (a) any Refinancing of the First Lien Obligations or the Second Lien Obligations or (b) any action or inaction which any of the First Lien Claimholders or the Second Lien Claimholders may take or fail to take in respect of the Collateral. Each Second Lien Collateral Agent, for itself and on behalf of its Related Second Lien Claimholders, agrees and acknowledges that (i) 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, (ii) 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 (iii) the aggregate amount of the First Lien Obligations may be increased, in each case, without notice to or consent by the Second Lien Collateral Agents or the Second Lien Claimholders and without affecting the provisions hereof, except as otherwise expressly set forth herein. As between the Borrowers Administrative Borrower and the other Obligors and the Second Lien Claimholders, the foregoing provisions will not limit or otherwise affect the obligations of the Borrowers Administrative Borrower and the Obligors contained in any Second Lien Document with respect to the incurrence of additional First Lien Obligations.