Permitted Liens; Certain Subordinations Sample Clauses

Permitted Liens; Certain Subordinations. Any reference in any of the Credit Documents to a Permitted Lien is not intended to subordinate or postpone, and shall not be interpreted as subordinating or postponing, or as any agreement to subordinate or postpone, any Lien created by any of the Credit Documents to any Permitted Lien. The foregoing notwithstanding, subject to the Intercreditor Agreement, each of the Lenders (including in its capacity as an Approved Counterparty) and the Issuing Banks hereby (A) consents to the subordination and hereby directs, in accordance with the terms hereof, the Collateral Agent to subordinate any Lien held by the Collateral Agent for the benefit of the Lenders and the Issuing Banks against any assets (x) of the US Credit Parties that are not ABL Collateral and (y) of the Canadian Credit Parties that are not Canadian ABL Collateral, in each case that are subject to a Lien permitted by Section 6.2(m) or securing purchase money Indebtedness or any Indebtedness with respect to Capital Leases that is incurred pursuant to Section 6.1(o) and subject to a Lien permitted by Section