Common use of No Third Party Beneficiaries/ Provisions Solely to Define Relative Rights Clause in Contracts

No Third Party Beneficiaries/ Provisions Solely to Define Relative Rights. This Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of each of the First Lien Claimholders and the Second Lien Claimholders. The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the First Lien Collateral Agent and the First Lien Claimholders on the one hand and the Second Lien Collateral Agent and the Second Lien Claimholders on the other hand. None of the Company, any other Grantor or any other creditor thereof shall have any rights hereunder and neither the Company nor any Grantor may rely on the terms hereof. Nothing in this Agreement is intended to or shall impair the obligations of the Company or any other Grantor, which are absolute and unconditional, to pay the First Lien Obligations and the Second Lien Obligations as and when the same shall become due and payable in accordance with their terms.

Appears in 3 contracts

Samples: Indenture (KCG Holdings, Inc.), Credit Agreement (KCG Holdings, Inc.), Intercreditor Agreement (KCG Holdings, Inc.)

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No Third Party Beneficiaries/ Provisions Solely to Define Relative Rights. This Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of each of the First Lien Priority Claimholders and the Second Lien ClaimholdersPriority Secured Parties. The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the First Lien Priority Collateral Agent and the First Lien Priority Claimholders on the one hand and the Second Lien Priority Collateral Agent and the Second Lien Claimholders Priority Secured Parties on the other hand. None of the Company, any other Grantor or any other creditor thereof shall have any rights hereunder and neither the Company nor any Grantor may rely on the terms hereofother than as set forth in Section 8.3. Nothing in this Agreement is intended to or shall impair the obligations of the Company or any other Grantor, which are absolute and unconditional, to pay the First Lien Priority Obligations and the Second Lien Priority Obligations as and when the same shall become due and payable in accordance with their terms.

Appears in 1 contract

Samples: Indenture (GOOD TECHNOLOGY Corp)

No Third Party Beneficiaries/ Provisions Solely to Define Relative Rights. This Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of each of the First Lien Claimholders and the Second Lien ClaimholdersClaimholders and their respective successors and assigns from time to time. The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the First Lien Collateral Agent and the First Lien Claimholders on the one hand and the Second Lien Collateral Agent and the Second Lien Claimholders on the other hand. None Nothing herein shall be construed to limit the relative rights and obligations as among the First Lien Claimholders or as among the Second Lien Claimholders. Other than as set forth in Section 8.3, none of the Company, any other Grantor or any other creditor thereof shall have any rights hereunder and neither the Company nor any Grantor may rely on the terms hereof. Nothing in this Agreement is intended to or shall impair the obligations of the Company or any other Grantor, which are absolute and unconditional, to pay the First Lien Obligations and the Second Lien Obligations as and when the same shall become due and payable in accordance with their terms.

Appears in 1 contract

Samples: Credit Agreement (RadNet, Inc.)

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No Third Party Beneficiaries/ Provisions Solely to Define Relative Rights. This Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of each of the First Lien Priority Claimholders and the Second Lien Priority Claimholders. The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the First Lien Priority Collateral Agent and the First Lien Priority Claimholders on the one hand and the Second Lien Priority Collateral Agent and the Second Lien Priority Claimholders on the other hand. None of the Company, any other Grantor or any other creditor thereof shall have any rights hereunder and neither the Company nor any other Grantor may rely on the terms hereof. Nothing in this Agreement is intended to or shall impair the obligations of the Company or any other Grantor, which are absolute and unconditional, to pay the First Lien Priority Obligations and the Second Lien Priority Obligations as and when the same shall become due and payable in accordance with their terms.

Appears in 1 contract

Samples: Indenture (Stonemor Inc.)

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