Common use of Prior Liens Clause in Contracts

Prior Liens. Upon the execution and delivery of this Agreement by the Borrower and the Collateral Agent, this Agreement shall supersede all provisions of the Original Security Agreement as of the date of such execution and delivery. The Borrower hereby agrees that, notwithstanding the execution and delivery of this Agreement, the liens and security interests created and provided for under the Original Security Agreement continue in effect under and pursuant to the terms of this Agreement for the benefit of all of the Secured Indebtedness. Nothing herein shall in any manner affect or impair the priority of the liens and security interests created and provided for by the Original Security Agreement as to the indebtedness and obligations which would otherwise be secured thereby prior to giving effect to this Agreement.

Prior Liens. Upon the execution and delivery of this Agreement by the Borrower Company and the Collateral AgentSecurity Trustee, this Agreement shall supersede all provisions of the Original Security Agreement as of the date of such execution and delivery. The Borrower Company hereby agrees that, notwithstanding the execution and delivery of this Agreement, the liens and security interests created and provided for under the Original Security Agreement continue in effect under and pursuant to the terms of this Agreement for the benefit of all of the Secured Indebtedness. Nothing herein shall in any manner affect or impair the priority of the liens and security interests created and provided for by the Original Security Agreement as to the indebtedness and obligations which would otherwise be secured thereby prior to giving effect to this Agreement.

Prior Liens. Upon the execution and delivery of this Agreement by the Borrower Company and the Collateral AgentSecurity Trustee, this Agreement shall supersede all provisions of the Original Security Agreement as of the date of such execution and delivery. The Borrower Company hereby agrees that, notwithstanding the execution and delivery of this Agreement, the liens and security interests created and provided for under the Original Security Agreement continue in effect under and pursuant to the terms of this Agreement for the benefit of all of the Secured Indebtedness. Nothing herein shall in any manner affect or impair the priority of the liens and security interests created and provided for by the Original Security Agreement as to the indebtedness and obligations which would otherwise be secured thereby prior to giving effect to this Agreement. .