Common use of Nature of Senior Lien Obligations Clause in Contracts

Nature of Senior Lien Obligations. Each Junior Lien Representative and each Junior Lien Collateral Agent, on behalf of itself and each other Junior Lien Claimholder represented by it, acknowledges that a portion of the Senior Lien Obligations represents, or may in the future represent, 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 Senior Lien Obligations may be modified, extended or amended from time to time, and that the aggregate amount of the Senior Lien Obligations may be increased, replaced or refinanced, in each event, without notice to or consent by the Junior Lien Claimholders and without affecting the provisions hereof. The 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 Lien Obligations or the Junior Lien Obligations, or any portion thereof. In addition, as among the Senior Claimholders, their respective rights and obligations shall be governed by the Senior Lien Intercreditor Agreement which among other things may provide for various levels of Lien priority and/or payment priority as among the Senior Claimholders without affecting the provisions hereof.

Nature of Senior Lien Obligations. Each Junior Lien Representative and each Junior Lien Collateral Agent, on behalf of itself and each other Junior Lien Claimholder represented by it, acknowledges that (i) a portion of the Senior Lien Obligations represents, or may in the future represent, 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 reborrowedre-borrowed, and that (ii) the terms of the Senior Lien Loan Documents and the Senior Lien Obligations may be modifiedamended, extended supplemented, amended and restated or amended from time to time, otherwise modified and that (iii) the aggregate amount of the Senior Lien Obligations may be increased, replaced or refinancedRefinanced, in each eventcase, without notice to or consent by the Junior Lien Collateral Agent or the Junior Lien Claimholders and without affecting the provisions hereof. The lien Lien priorities provided for in Section 3.1 2.1 shall not be be‌ altered or otherwise affected by any such amendment, modificationsupplement, supplementincrease, extension, repayment, reborrowing, increase, replacement, renewal, amendment and restatement or refinancing other modification, or any Refinancing, of either the Senior Lien Obligations or the Junior Lien Obligations, or any portion thereof, in accordance with the terms of this Agreement. In additionAs between the Company and the other Grantors and the Junior Lien Claimholders, the foregoing provisions will not limit or otherwise affect the obligations of the Company and the Grantors contained in any Junior Lien Loan Document with respect to the incurrence of additional Senior Lien Obligations. Refinancing of Senior Lien Obligations or Junior Lien Obligations may be effectuated in accordance with this Agreement and any such Refinancing into Indebtedness that constitutes Senior Lien Obligations or Junior Lien Obligations, as among applicable, shall have the Senior Claimholdersbenefit of, their respective rights and obligations shall otherwise be governed by the Senior Lien Intercreditor Agreement which among other things may provide for various levels of Lien priority and/or payment priority as among the Senior Claimholders without affecting subject to the provisions hereofof, this Agreement.

Nature of Senior Lien Obligations. Each Junior Lien Representative and each Junior Lien Collateral Agent, on behalf of itself and each other Junior Lien Claimholder represented by it, acknowledges that (i) a portion of the Senior Lien Obligations represents, or may in the future represent, 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 reborrowedre-borrowed, and that (ii) the terms of the Senior Lien Loan Documents and the Senior Lien Obligations may be modifiedamended, extended supplemented, amended and restated or amended from time to time, otherwise modified and that (iii) the aggregate amount of the Senior Lien Obligations may be increased, replaced or refinancedRefinanced, in each eventcase, without notice to or consent by the Junior Lien Collateral Agent or the Junior Lien Claimholders and without affecting the provisions hereof. The lien Lien priorities provided for in Section 3.1 2.1 shall not be altered or otherwise affected by any such amendment, modificationsupplement, supplementincrease, extension, repayment, reborrowing, increase, replacement, renewal, amendment and restatement or refinancing other modification, or any Refinancing, of either the Senior Lien Obligations or or‌ the Junior Lien Obligations, or any portion thereof. In additionRefinancing of Senior Lien Obligations or Junior Lien Obligations may be effectuated in accordance with this Agreement and any such Refinancing into Indebtedness that constitutes Senior Lien Obligations or Junior Lien Obligations, as among applicable, shall have the Senior Claimholdersbenefit of, their respective rights and obligations shall otherwise be governed by the Senior Lien Intercreditor Agreement which among other things may provide for various levels of Lien priority and/or payment priority as among the Senior Claimholders without affecting subject to the provisions hereofof, this Agreement.

Nature of Senior Lien Obligations. Each Junior Lien Representative and each Junior Lien Collateral Agent, on behalf of itself and each other Junior Lien Claimholder represented by it, acknowledges that a portion of the Senior Lien Obligations represents, or may in the future represent, 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 Senior Lien Obligations may be modified, extended or amended from time to time, and that the aggregate amount of the Senior Lien Obligations may be increased, replaced or refinanced, in each event, without notice to or consent by the Junior Lien Claimholders and without affecting the provisions hereof. The 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 Lien Obligations or the Junior Lien Obligations, or any portion thereof. In addition, as among the Senior Lien Claimholders, their respective rights and obligations shall be governed by the Senior Lien Intercreditor Agreement which among other things may provide for various levels of Lien priority and/or payment priority as among the Senior Lien Claimholders without affecting the provisions hereof.