Common use of Postpetition Liens Clause in Contracts

Postpetition Liens. As security for the Postpetition Obligations, the Postpetition Lender is hereby granted valid, binding, enforceable, first priority and perfected Liens (the “Postpetition Liens”) in the Postpetition Collateral and the Prepetition Collateral. Subject to the Carve-Out, the Postpetition Liens (A) shall constitute first priority liens in and to all Postpetition Collateral and Prepetition Collateral pursuant to section 364(c)(2) of the Bankruptcy Code; (B) shall (y) be senior to and prime the Prepetition Liens and any Liens junior to such Prepetition Liens, and (z) be senior to and prime all Adequate Protection Liens (as defined herein) ((y) and (z) above, collectively, the “Primed Liens”) pursuant to section 364(d)(1) of the Bankruptcy Code; and (C) shall be immediately junior in priority to any and all valid, perfected, enforceable and non-avoidable Liens (other than the Primed Liens) on assets of the Borrower in existence as of the Petition Date with priority over the Prepetition Liens and the Prepetition Lenders where such Prepetition Liens were properly perfected prior to the Petition Date or for which perfection relates back under Section 546(b) of the Bankruptcy Code (collectively, the “Non-Primed Liens”), pursuant to section 364(c)(3) of the Bankruptcy Code. No other person or entity shall receive or be granted any Liens of any type or nature, whether senior to, on parity with, or junior to the Postpetition Liens, on any of the Postpetition Collateral or Prepetition Collateral, except only Permitted Liens (as defined in the Prepetition Credit Agreement).

Postpetition Liens. As security for the Postpetition Obligations, the Postpetition Lender is hereby granted valid, binding, enforceable, first priority and perfected Liens (the “Postpetition Liens”) in the Postpetition Collateral and the Prepetition Collateral. Subject to the Carve-Out, the Postpetition Liens (A) shall constitute first priority liens in and to all Postpetition Collateral and Prepetition Collateral pursuant to section 364(c)(2) of the Bankruptcy Code; (B) shall (yx) be senior to and prime the Prepetition Liens and any Liens Liens, setoff rights or recoupment rights junior to such Prepetition LiensLiens on the Borrower’s Postpetition and Prepetition Collateral, (y) be senior to and prime all other postpetition liens on the Guarantor’s Postpetition Collateral, and (z) be senior to and prime all Adequate Protection Liens (as defined herein) ((x), (y) and (z) above, collectively, the “Primed Liens”) pursuant to section 364(d)(1) of the Bankruptcy Code; and (C) shall be immediately junior in priority to any and all valid, perfected, enforceable and non-avoidable Liens Liens, setoff rights or recoupment rights (other than the Primed Liens) on assets of the Borrower or the Guarantor in existence as of the Petition Date with priority over the Prepetition Liens and the Prepetition Lenders where such Prepetition Liens were properly perfected prior to the Petition Date or for which perfection relates back under Section 546(b) of the Bankruptcy Code (collectively, the “Non-Primed Liens”), pursuant to section 364(c)(3) of the Bankruptcy Code. No other person or entity shall receive or be granted any Liens of any type or nature, whether senior to, on parity with, or junior (except as provided in Paragraph 9), to the Postpetition Liens, on any of the Borrower’s Postpetition Collateral or Prepetition Collateral, except only Permitted Liens (as defined in the Prepetition Credit Agreement), and no other person or entity shall receive or be granted any Liens of any type or nature, whether senior to or on parity with the Postpetition Liens on any of the Guarantor’s Postpetition Collateral.

Postpetition Liens. As security for the Postpetition Obligations, the Postpetition Lender is hereby granted valid, binding, enforceable, first priority and perfected Liens (the “Postpetition Liens”) in the Postpetition Collateral and the Prepetition Collateral. Subject to the Carve-Out, the Postpetition Liens (A) shall constitute first priority liens in and to all Postpetition Collateral and Prepetition Collateral pursuant to section 364(c)(2) of the Bankruptcy Code; (B) shall (yx) be senior to and prime the Prepetition Liens and any Liens Liens, setoff rights or recoupment rights junior to such Prepetition LiensLiens on the Borrower’s Postpetition and Prepetition Collateral (including without limitation any liens of Xxxxx, Inc.), (y) be senior to and prime all other postpetition liens on the Guarantor’s Postpetition Collateral, and (z) be senior to and prime all Adequate Protection Liens (as defined herein) ((x), (y) and (z) above, collectively, the “Primed Liens”) pursuant to section 364(d)(1) of the Bankruptcy Code; and (C) shall be immediately junior in priority to any and all valid, perfected, enforceable and non-avoidable Liens Liens, setoff rights or recoupment rights (other than the Primed Liens) (including without limitation any liens of Xxxxx, Inc.) on assets of the Borrower or the Guarantor in existence as of the Petition Date with priority over the Prepetition Liens and the Prepetition Lenders where such Prepetition Liens were properly perfected prior to the Petition Date or for which perfection relates back under Section 546(b) of the Bankruptcy Code (collectively, the “Non-Primed Liens”), pursuant to section 364(c)(3) of the Bankruptcy Code. No other person or entity shall receive or be granted any Liens of any type or nature, whether senior to, on parity with, or junior (except as provided in Paragraph 9), to the Postpetition Liens, on any of the Borrower’s Postpetition Collateral or Prepetition Collateral, except only Permitted Liens (as defined in the Prepetition Credit Agreement), and no other person or entity shall receive or be granted any Liens of any type or nature, whether senior to or on parity with the Postpetition Liens on any of the Guarantor’s Postpetition Collateral.

Postpetition Liens. As security for the Postpetition Obligations, the Postpetition Lender is hereby granted valid, binding, enforceable, first priority and perfected Liens (the “Postpetition Liens”) in the Postpetition Collateral and the Prepetition Collateral. Subject to the Carve-Out, the The “Postpetition Liens Liens” (A) shall constitute first priority liens in and to all Postpetition Collateral and Prepetition Collateral pursuant to section 364(c)(2) of the Bankruptcy Code; (B) shall (yx) be senior to and prime the Prepetition Liens and any Liens Liens, setoff rights or recoupment rights junior to such Prepetition LiensLiens on the Borrower’s Postpetition and Prepetition Collateral (including without limitation any liens of Xxxxx, Inc.), (y) be senior to and prime all other postpetition liens on the Guarantor’s Postpetition Collateral, and (z) be senior to and prime all Adequate Protection Liens (as defined herein) ((x), (y) and (z) above, collectively, the “Primed Liens”) pursuant to section 364(d)(1) of the Bankruptcy Code; and (C) shall be immediately junior in priority to any and all valid, perfected, enforceable and non-avoidable Liens Liens, setoff rights or recoupment rights (other than the Primed Liens) (including without limitation any liens of Xxxxx, Inc.) on assets of the Borrower or the Guarantor in existence as of the Petition Date with priority over the Prepetition Liens and the Prepetition Lenders where such Prepetition Liens were properly perfected prior to the Petition Date or for which perfection relates back under Section 546(b) of the Bankruptcy Code (collectively, the “Non-Primed Liens”), pursuant to section 364(c)(3) of the Bankruptcy Code. No other person or entity shall receive or be granted any Liens of any type or nature, whether senior to, on parity with, or junior to the Postpetition Liens, on any of the Borrower’s Postpetition Collateral or Prepetition Collateral, except only Permitted Liens (as defined in the Prepetition Credit Agreement), and no other person or entity shall receive or be granted any Liens of any type or nature, whether senior to or on parity with the Postpetition Liens on any of the Guarantor’s Postpetition Collateral.

Postpetition Liens. As security for the Postpetition Obligations, the Postpetition Lender is hereby granted valid, binding, enforceable, first priority and perfected Liens (the “Postpetition Liens”) in the Postpetition Collateral and the Prepetition Collateral. Subject to the Carve-Out, the The Postpetition Liens (A) shall constitute first priority liens in and to all Postpetition Collateral and Prepetition Collateral pursuant to section 364(c)(2) of the Bankruptcy Code; (B) shall (yx) be senior to and prime the Prepetition Liens and any Liens Liens, setoff rights or recoupment rights junior to such Prepetition Liens on the Borrower’s Postpetition and Prepetition Collateral (including, without limitation, any liens of Xxxxx, Inc. that are junior to the Prepetition Liens), (y) be senior to and prime all other postpetition liens on the Guarantor’s Postpetition Collateral and the Borrower’s Postpetition Collateral, including, without limitation, those post-petition liens granted to the lenders under and pursuant to the Initial Final Financing Order, and (z) be senior to and prime all Adequate Protection Liens (as defined herein) ((x), (y) and (z) above, collectively, the “Primed Liens”) pursuant to section 364(d)(1) of the Bankruptcy Code; and (C) shall be immediately junior in priority to any and all valid, perfected, enforceable and non-avoidable Liens Liens, setoff rights or recoupment rights (other than the Primed Liens) on assets of the Borrower or the Guarantor in existence as of the Petition Date with priority over the Prepetition Liens and (including, without limitation, any liens of Xxxxx, Inc. with priority over the Prepetition Lenders Liens) where such Prepetition prior Liens were properly perfected prior to the Petition Date or for which perfection relates back under Section 546(b) of the Bankruptcy Code (collectively, the “Non-Primed Liens”), pursuant to section 364(c)(3) of the Bankruptcy Code. No other person or entity shall receive or be granted any Liens of any type or nature, whether senior to, on parity with, or junior (except as provided in Paragraph 18), to the Postpetition Liens, on any of the Borrower’s Postpetition Collateral or Prepetition Collateral, except only Permitted Liens (as defined in the Prepetition Postpetition Credit Agreement), and no other person or entity shall receive or be granted any Liens of any type or nature, whether senior to, on parity with, or junior to the Postpetition Liens on any of the Guarantor’s Postpetition Xxxxxxxxxx.