Common use of Nature of Senior Indebtedness Clause in Contracts

Nature of Senior Indebtedness. The Subordinated Holder Representative on behalf of itself and the other Subordinated Holders acknowledges that, subject to Section 7.2, (a) all or a portion of the Senior Indebtedness 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 Senior Indebtedness may be modified, extended or amended from time to time, and (c) the aggregate amount of the Senior Indebtedness may be increased, replaced or refinanced, in each event, without prior notice to or consent by the Subordinated Holders and without affecting the provisions hereof. Subject to the limits set forth in Section 7.2, the terms of subordination contained in this Agreement and Lien priorities provided in Section 3.1 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 Senior Indebtedness or the Subordinated Indebtedness, or any portion thereof.