Common use of Priority Confirmation Clause in Contracts

Priority Confirmation. The undersigned New Intercompany Lender hereby agrees, for the enforceable benefit of all holders of each existing and future Senior Loan and Series of Junior Lien Debt, each existing and future Senior Collateral Agent, each other Senior Secured Party, each other existing and future Junior Lien Representative and each existing and future holder of Permitted Liens that the Intercompany Debt Obligations shall be subordinate and junior in right of payment to the full and prior payment in cash of the Senior Obligations and the Junior Lien Obligations to the extent and in the manner set forth in the Intercreditor Agreement.