Common use of Pari Passu Lien Requirement Clause in Contracts

Pari Passu Lien Requirement. Notwithstanding anything to the contrary contained herein, to the extent that any Loan Party grants or maintains a Lien on any assets of such Loan Party pursuant to the terms of the Term Loan Agreement or any Permitted Capital Markets Indebtedness, such Loan Party shall contemporaneously grant and maintain a Lien on such assets in accordance with the provisions of this Agreement. All Liens in the Collateral and the Covenant Relief Period Collateral shall be pari passu with the Liens granted in connection with the Term Loan Agreement and shall be pari passu or senior to the Liens granted in connection with any Permitted Capital Markets Indebtedness, and shall, in all respects, be subject to an Intercreditor Agreement.

Pari Passu Lien Requirement. Notwithstanding anything to the contrary contained herein, to the extent that any Loan Party grants or maintains a Lien on any assets of such Loan Party pursuant to the terms of the Term Loan Existing Credit Agreement or any Permitted Capital Markets Indebtedness, such Loan Party shall contemporaneously grant and maintain a Lien on such assets in accordance with the provisions of this Agreement. All Liens in the Collateral and the Covenant Relief Period Collateral shall be pari passu with the Liens granted in connection with the Term Loan Existing Credit Agreement and shall be pari passu or senior to the Liens granted in connection with any Permitted Capital Markets Indebtedness, and shall, in all respects, be subject to an Intercreditor Agreement.