Common use of Priority Confirmation Clause in Contracts

Priority Confirmation. [Option A: to be used if additional debt constitutes Priority Debt] The undersigned New Representative, on behalf of itself and each Priority Lien Secured Party for which the undersigned is acting as [Administrative Agent] hereby agrees, for the benefit of all Secured Parties and each future Secured Debt Representative, and as a condition to being treated as Priority Lien Obligations under the Intercreditor Agreement, that the New Representative is hereby a party to and is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Priority Liens. [or] [Option B: to be used if additional debt constitutes a Series of 1.5 Lien Debt] The undersigned New Representative, on behalf of itself and each 1.5 Lien Secured Party for which the undersigned is acting as [Administrative Agent] hereby agrees, for the benefit of all Secured Parties and each future Secured Debt Representative, and as a condition to being treated as 1.5 Lien Obligations under the Intercreditor Agreement, that the New Representative is hereby a party to and is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of 1.5 Liens.

Priority Confirmation. [Option A: to be used if additional debt constitutes Priority Debt] The undersigned New Representative, on behalf of itself and each Priority Lien Secured Party for which the undersigned is acting as [Administrative Agent] hereby agrees, for the benefit of all Secured Parties and each future Secured Debt Representative, and as a condition to being treated as Priority Lien Obligations under the Intercreditor Agreement, that the New Representative is hereby a party to and is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Priority Liens. [or] [Option B: to be used if additional debt constitutes a Series of 1.5 Second Lien Debt] The undersigned New Representative, on behalf of itself and each 1.5 holder of Obligations in respect of the Series of Second Lien Secured Party Debt [that constitutes a Second Lien Substitute Facility] for which the undersigned is acting as [Administrative AgentSecond Lien Representative][Second Lien Collateral Trustee] hereby agrees, for the benefit of all Secured Parties and each future Secured Debt Representative, and as a condition to being treated as 1.5 Lien Obligations Secured Debt under the Intercreditor Agreement, that the New Representative is hereby a party to and is bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of 1.5 Liens.that: