No Debt Subordination. Nothing contained in this Agreement is intended to subordinate any debt claim by a Second Lien Secured Party to a debt claim by a First Lien Secured Party. All debt claims of the First Lien Secured Parties and the Second Lien Secured Parties are intended to be pari passu.
Appears in 7 contracts
Samples: Second Lien Credit Agreement (Sundance Energy Australia LTD), Intercreditor Agreement (Callon Petroleum Co), Second Lien Credit Agreement (Sundance Energy Australia LTD)
No Debt Subordination. Nothing contained in this Agreement is intended to subordinate any debt claim by a Second Lien Secured Party to a debt claim by a First Lien Secured Party. All Other than to the extent constituting secured claims on the Collateral, all debt claims of the First Lien Secured Parties and the Second Lien Secured Parties are intended to be pari passu.
Appears in 2 contracts
Samples: Second Lien Credit Agreement (U.S. Well Services, Inc.), Intercreditor Agreement (Penn Virginia Corp)
No Debt Subordination. Nothing contained in this Agreement is intended to subordinate any debt claim by a Second Lien Secured Party to a debt claim by a First Lien Secured Party. All debt claims of the First Lien Secured Parties and the Second Lien Secured Parties are intended to be pari passu. Nothing in this Agreement will affect the entitlement of any Second Lien Secured Party to receive and retain required payments of interest, principal, and other amounts in respect of a Second Lien Obligation, unless the receipt is expressly prohibited by, or results from the Second Lien Secured Party’s breach of, this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Titan Energy, LLC), Second Lien Credit Agreement (Titan Energy, LLC)
No Debt Subordination. Nothing contained in this Agreement is intended to subordinate in right of payment any debt claim by a Second Lien Secured Party to a debt claim by a First Lien another Secured Party. All debt claims of the First Lien Secured Parties and the Second Lien Secured Parties are intended to be pari passu.
Appears in 1 contract
