New First Priority Liens Sample Clauses

New First Priority Liens. If the First Lien Agent or any Senior Lender shall acquire or hold any Lien on any property or asset of a Grantor that is not also subject to the Second Priority Lien, then such First Lien Lender shall, without the need for any further consent of any party and notwithstanding anything to the contrary in any other document, be deemed to also hold and have held such Lien for the benefit of the Second Priority Agent as security for the Second Priority Claims (subject to the Lien priority and other terms hereof) and shall promptly notify the Second Priority Agent in writing of the existence of such Lien and in any event take such actions as may be requested by the Second Priority Agent to assign or release such Liens to the Second Priority Agent (and/or each of its designees) as security for the applicable Second Priority Claims.