Prohibition on Contesting Liens. Each Second Lien Collateral Agent, for itself and on behalf of its Related Second Lien Claimholders, and each First Lien Collateral Agent, for itself and on behalf of its Related First Lien Claimholders, agrees that it and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challenging, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the validity or enforceability of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders or the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Liens; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any First Lien Collateral Agent or any other First Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunder, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1.
Appears in 8 contracts
Samples: Intercreditor Agreement (Dayforce, Inc.), Pledge and Security Agreement (Nuvei Corp), Credit Agreement (Ceridian HCM Holding Inc.)
Prohibition on Contesting Liens. Each Second Lien The ABL Credit Agreement Collateral Agent, for itself and on behalf of its Related Second Lien Claimholders, and each First Lien Term Loan Collateral Agent, for itself and on behalf of its Related First Lien Claimholders, agrees that it and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challenging, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the validity or enforceability of any First Lien ABL Document or any Second Lien Term Loan Document, or any First Lien ABL Obligation or any Second Lien Term Loan Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien ABL Obligations or any Second Lien Term Loan Obligations or (iii) the relative rights and duties of the First Lien ABL Claimholders or the Second Lien Term Loan Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Liens; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any First Lien Senior Collateral Agent or any other First Lien Senior Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunder, including the provisions of this Agreement relating to the priority of the Liens on the Collateral in which a Senior Claimholder has a Senior Lien securing the First Lien Senior Obligations as provided in Sections 2.1 and 3.1.
Appears in 3 contracts
Samples: Intercreditor Agreement (Option Care Health, Inc.), Intercreditor Agreement (Option Care Health, Inc.), Intercreditor Agreement (Option Care Health, Inc.)
Prohibition on Contesting Liens. Each The Second Lien Collateral Agent, for itself and on behalf of its Related each Second Lien ClaimholdersSecured Party, and each the First Lien Collateral Agent, for itself and on behalf of its Related each First Lien ClaimholdersLender, agrees that it and its Related Claimholders will shall not (and each hereby waives any right to) directly or indirectly contest or take any action to challenge, contest or support any other Person in contesting or challenging, directly or indirectly, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the validity or enforceability of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens (a) a Lien securing any First Lien Obligations Claim held (or purported to be held) by or on behalf of the First Lien Agent or any of the First Lien Lenders or any agent or trustee therefor in any First Lien Collateral or any other collateral, or (b) a Lien securing any Second Lien Claims held (or purported to be held) by or on behalf of the Second Lien Agent or any Second Lien Obligations Secured Party or (iii) the relative rights and duties of the First Lien Claimholders any agent or the trustee therefor in any Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such LiensCollateral, as the case may be; provided provided, however, that nothing in this Agreement shall be construed to prevent or impair the rights of the First Lien Agent or any First Lien Collateral Agent or any other First Lien Claimholder Lender to enforce this Agreement or to exercise any of its remedies or rights hereunder, (including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations Claims as provided in Sections 2.1 and 3.1Section 2.1) or any of the First Lien Documents.
Appears in 2 contracts
Samples: Intercreditor Agreement, Intercreditor Agreement (Mariner, LLC)
Prohibition on Contesting Liens. Each Second Lien Collateral Agent, for itself and on behalf of its Related Second Lien Claimholders, and each the First Lien Collateral Agent, for itself and on behalf of its Related each First Lien ClaimholdersClaimholder, and the Collateral Trustee, for itself and on behalf of each Second Lien Claimholder, agrees that it and its Related Claimholders will not (and each hereby waives any right to) contest or support, directly or indirectly contest or challengeindirectly, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the perfection, priority, validity or enforceability of a Lien held by or on behalf of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders in all or any part of the First Lien Collateral or by or on behalf of any of the Second Lien Claimholders granted and/or established in this Agreement all or any Collateral Document with respect to such Lienspart of the Second Lien Collateral, as the case may be, or the provisions of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair (a) the rights of any the First Lien Collateral Agent or any other First Lien Claimholder or the rights of the Collateral Trustee or any Second Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 2.1, 3.1 and 3.13.2 or (b) the rights of the Collateral Trustee, the Notes Trustee, any other Parity Lien Representative or any Second Lien Claimholder to enforce the Collateral Trust Agreement.
Appears in 2 contracts
Samples: Intercreditor Agreement (Viasystems Group Inc), Intercreditor Agreement (Viasystems Inc)
Prohibition on Contesting Liens. Each Second of the First Lien Collateral Administrative Agent, for itself and on behalf of its Related the other First Lien Secured Parties, and the Second Lien Claimholders, and each First Lien Collateral Administrative Agent, for itself and on behalf of its Related First the other Second Lien ClaimholdersSecured Parties, agrees that it will not, and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly , contest or challenge, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the validity or enforceability of any First Lien Security Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligationobligation thereunder, (ii) the existence, validitypriority, perfection, priority validity or enforceability of any First Priority Lien or any Second Priority Lien, as the Liens securing any case may be, (iii) the seniority of the First Lien Obligations or any the subordination of the Second Lien Obligations Obligations, or (iiiiv) the relative rights and duties of the holders of the First Lien Claimholders or Obligations and the Second Lien Claimholders Obligations granted and/or and established in this Agreement or any Collateral other Security Document with respect to such the First Priority Liens or the Second Priority Liens, as the case may be; provided that nothing in this Agreement shall be construed to (a) prevent or impair the rights of any the First Lien Collateral Administrative Agent or any other First Lien Claimholder Secured Party to enforce this Agreement or to exercise any of its remedies or rights hereunder, including the provisions of this Agreement relating prior to the priority Discharge of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1or (b) prevent or impair the rights of the Second Lien Administrative Agent or any other Second Lien Secured Party to enforce this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Quintana Energy Services Inc.), Credit Agreement (Quintana Energy Services Inc.)
Prohibition on Contesting Liens. Each of the Second Lien Collateral Agent, for itself and on behalf of its Related each Second Lien ClaimholdersClaimholder, and each the First Lien Collateral Agent, for itself and on behalf of its Related each First Lien ClaimholdersClaimholder, agrees that it and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the priority, validity or enforceability of a Lien held by or on behalf of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders in the First Lien Collateral or by or on behalf of any of the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Liensthe Second Lien Collateral, as the case may be; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any the First Lien Collateral Agent or any other First Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1, (ii) the validity or enforceability of any Collateral Documents (including this Agreement) or any Obligation or other obligation thereunder, or (iii) except as expressly set forth herein, the relative rights and duties of the First Lien Claimholders and the Second Lien Claimholders granted and/or established pursuant to this Agreement or any other Collateral Document.
Appears in 2 contracts
Samples: Intercreditor Agreement (Modtech Holdings Inc), Intercreditor Agreement (Modtech Holdings Inc)
Prohibition on Contesting Liens. Each Second Lien Representative and each Second Lien Collateral Agent, for itself and on behalf of its Related each other Second Lien ClaimholdersClaimholder represented by it, and each First Lien Representative and each First Lien Collateral Agent, for itself and on behalf of its Related each other First Lien ClaimholdersClaimholder represented by it, agrees that it and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the validity or enforceability of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existencepriority, validity, perfection, priority extent or enforceability of the Liens securing a Lien held, or purported to be held, by or on behalf of any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders in the First Lien Collateral or by or on behalf of any of the Second Lien Claimholders granted and/or established in the Second Lien Collateral, as the case may be, or the amount, nature or extent of the First Lien Obligations or Second Lien Obligations or the provisions of this Agreement or any Collateral Document with respect to such LiensAgreement; provided provided, that nothing in this Agreement shall be construed to prevent or impair the rights of any First Lien Representative, any First Lien Collateral Agent or any other First Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1.
Appears in 2 contracts
Samples: Intercreditor Agreement (Franchise Group, Inc.), Intercreditor Agreement (Summit Midstream Partners, LP)
Prohibition on Contesting Liens. Each Second Junior Lien Representative and each Junior Lien Collateral Agent, for itself and on behalf of its Related Second each other Junior Lien ClaimholdersClaimholder represented by it, and each First Parity Lien Representative and each Parity Lien Collateral Agent, for itself and on behalf of its Related First each other Parity Lien ClaimholdersClaimholder represented by it, agrees that it and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the validity priority, validity, perfection or enforceability of a Lien held by or on behalf of any First of the Parity Lien Document Claimholders in the Parity Lien Collateral or by or on behalf of any Second of the Junior Lien DocumentClaimholders in the Junior Lien Collateral, as the case may be, or any First Lien Obligation or any Second Lien Obligationthe provisions of this Agreement; provided, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders or the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Liens; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any First Parity Lien Representative, any Parity Lien Collateral Agent or any other First Parity Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Parity Lien Obligations as provided in Sections 2.1 and 3.1.
Appears in 1 contract
Prohibition on Contesting Liens. Each Second Lien Collateral Agent, for itself and on behalf of its Related Second Lien Claimholders, and each First Lien Collateral Agent, for itself and on behalf of its Related First Lien Claimholders, agrees that it and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challenging, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the validity validity, enforceability or enforceability allowability of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders or the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Liens; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any First Lien Collateral Agent or any other First Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunder, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1.
Appears in 1 contract
Samples: First Lien Credit Agreement (Cotiviti Holdings, Inc.)
Prohibition on Contesting Liens. Each of the Cash Pay Second Lien Collateral Agent, for itself and on behalf of its Related each Cash Pay Second Lien ClaimholdersClaimholder, and each First the Non-Cash Pay Second Lien Collateral Agent, for itself and on behalf of its Related First each Non-Cash Pay Second Lien ClaimholdersClaimholder, and the Senior Lien Collateral Agent, for itself and on behalf of each Senior Lien Claimholder, agrees that it and its Related Claimholders will shall not (and each hereby waives any right to) directly or indirectly contest or challengecontest, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the priority, validity or enforceability of a Lien held by or on behalf of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Senior Lien Claimholders in the Senior Lien Collateral or by or on behalf of any of the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Liensthe Second Lien Collateral, as the case may be; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any First the Senior Lien Collateral Agent or any other First Senior Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Senior Lien Obligations as provided in Sections 2.1 and 3.13, and release of the Liens encumbering Second Lien Collateral as provided in Section 6.1.
Appears in 1 contract
Samples: Intercreditor and Subordination Agreement (FriendFinder Networks Inc.)
Prohibition on Contesting Liens. Each of the Second Lien Collateral AgentTrustee, for itself and on behalf of its Related each Second Lien ClaimholdersClaimholder, and each the First Lien Collateral Agent, for itself and on behalf of its Related each First Lien ClaimholdersClaimholder (other than any New First Lien Claimholder), and any New First Lien Claimholder Representative, for itself and on behalf of each New First Lien Claimholder that it represents, agrees that it and its Related Claimholders will shall not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the priority, validity or enforceability of a Lien held by or on behalf of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders in the First Lien Collateral or by or on behalf of any of the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Liensthe Common Collateral, as the case may be; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any First Lien Collateral Agent Claimholder Representative or any other First Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1.Section 2.1. INTERCREDITOR AGREEMENT
Appears in 1 contract
Prohibition on Contesting Liens. Each The Second Lien Collateral Agent, and each Second Lien Representative, for itself and on behalf of its Related Second Lien Claimholders, and each the First Lien Collateral Agent, and each First Lien Representative for itself and on behalf of its Related First Lien Claimholders, agrees that it and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challenging, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the validity or enforceability of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders or the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Liens; provided that nothing in this Agreement shall be construed to prevent or impair the rights of the First Lien Collateral Agent, any First Lien Collateral Agent Representative or any other First Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunder, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1.
Appears in 1 contract
Samples: Second Lien Intercreditor Agreement (Mallinckrodt PLC)
Prohibition on Contesting Liens. Each Second Lien Collateral Agent, for itself and on behalf of its Related each Second Lien ClaimholdersClaimholder with respect to which such Second Lien Collateral Agent is acting as Agent, and each First Lien Collateral Agent, for itself and on behalf of its Related each First Lien ClaimholdersClaimholder with respect to which such First Lien Collateral Agent is acting as Agent, agrees that it and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the priority, validity or enforceability of a Lien held by or the allowability of any First Lien Document or any Second Lien Documentclaim asserted by, or on behalf of any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders in the First Lien Collateral or by or on behalf of any of the Second Lien Claimholders granted and/or established in the Second Lien Collateral, as the case may be, or the provisions of this Agreement or any Collateral Document with respect to such LiensAgreement; provided that nothing in this Agreement shall be construed to (a) prevent or impair the rights of any First Lien Collateral Agent or any other First Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1, or (b) restrict the ability of the Second Lien Collateral Agent or any Second Lien Claimholder to vote in a manner that is consistent with the terms and conditions of this Agreement on any plan of reorganization, plan of arrangement, proposal or similar plan in any Insolvency or Liquidation Proceeding, or take any action expressly permitted by Section 3.1(c).
Appears in 1 contract
Prohibition on Contesting Liens. Each of the Second Lien Collateral Agent, for itself and on behalf of its Related each of the Second Lien ClaimholdersSecured Parties, and each the First Lien Collateral Agent, for itself and on behalf of its Related each of the First Lien ClaimholdersSecured Parties, agrees that it and its Related Claimholders will shall not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the validity or enforceability of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existencepriority, validity, perfection, priority extent or enforceability of the Liens securing a Lien held, or purported to be held, by or on behalf of any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders Secured Parties in the Collateral or by or on behalf of any of the Second Lien Claimholders granted and/or established Secured Parties in this Agreement or any Collateral Document with respect to such Liensthe Collateral, as the case may be; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any the First Lien Collateral Agent or any other First Lien Claimholder Secured Parties to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.13.1 hereof. Until the Discharge of First Lien Obligations, neither the Second Lien Collateral Agent nor any other Second Lien Secured Parties will assert (and the Second Lien Collateral Agent and any other Second Lien Secured Parties waives any right to assert) any marshaling, appraisal, valuation or other similar right that may otherwise be available to a junior secured creditor.
Appears in 1 contract
Prohibition on Contesting Liens. Each of the Second Lien Collateral Agent, for itself and on behalf of its Related each Second Lien ClaimholdersClaimholder, and each the First Lien Collateral Agent, for itself and on behalf of its Related each First Lien ClaimholdersClaimholder, agrees that it and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the priority, perfection, validity or enforceability of a Lien held by or on behalf of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders in the First Lien Collateral or by or on behalf of any of the Second Lien Claimholders granted and/or established in the Second Lien Collateral, as the case may be, or the provisions of this Agreement or any Collateral Document with respect to such LiensAgreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any the First Lien Collateral Agent or any other First Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1. Notwithstanding any failure by any First Priority Lien Claimholder to perfect its security interests in the Collateral or any avoidance, invalidation or subordination by any third party or court of competent jurisdiction of any First Lien Obligation or any of the security interests in the Collateral granted to the First Priority Lien Claimholders, the priority and rights as between the First Priority Secured Parties and the Second Priority Secured Parties with respect to the Collateral shall be as set forth herein.
Appears in 1 contract
Samples: Intercreditor Agreement (Primus Telecommunications Group Inc)
Prohibition on Contesting Liens. Each of the Second Lien Collateral AgentRepresentative, for itself and on behalf of its Related each Second Lien ClaimholdersClaimholder, and each the First Lien Collateral AgentRepresentative, for itself and on behalf of its Related each First Lien ClaimholdersClaimholder, agrees that it and its Related Claimholders will shall not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the priority, validity or enforceability of a Lien held by or on behalf of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders in the First Lien Collateral or by or on behalf of any of the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Liensthe Second Lien Collateral, as the case may be; provided that nothing in this Agreement (a) shall be construed to prevent or impair the rights of any the First Lien Collateral Agent Representative or any other First Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1, or vote on a plan of reorganization in an Insolvency or Liquidation Proceeding; or (b) shall be construed to prevent or impair the rights of the Second Lien Representative or any Second Lien Claimholder to enforce this Agreement, including the priority of the Liens securing the Second Lien Obligations as provided in Sections 2.1 and 3.1, or vote on a plan of reorganization in an Insolvency or Liquidation Proceeding.
Appears in 1 contract
Prohibition on Contesting Liens. Each of the Second Lien Collateral AgentTrustee, for itself and on behalf of its Related each Second Lien ClaimholdersClaimholder, and each the First Lien Collateral Agent, for itself and on behalf of its Related each First Lien ClaimholdersClaimholder (other than any New First Lien Claimholder), and any New First Lien Claimholder Representative, for itself and on behalf of each New First Lien Claimholder that it represents, agrees that it and its Related Claimholders will shall not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the priority, validity or enforceability of a Lien held by or on behalf of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Lien Claimholders in the First Lien Collateral or by or on behalf of any of the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Liensthe Common Collateral, as the case may be; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any First Lien Collateral Agent Claimholder Representative or any other First Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1Section 2.1.
Appears in 1 contract
Prohibition on Contesting Liens. Each Second First Lien Debt Collateral Agent, for itself and on behalf of its Related Second the other First Lien ClaimholdersDebt Claimholders with respect to which such First Lien Debt Collateral Agent is acting as Agent, and each First Lien the Collateral AgentTrustee, for itself and on behalf of its Related First the Pari Passu Lien ClaimholdersRepresentatives and the other Pari Passu Lien Claimholders with respect to which the Collateral Trustee is acting as Agent, agrees that it and its Related Claimholders will shall not (and each hereby waives any right to) directly or indirectly contest or challengecontest, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the perfection, priority, validity or enforceability of a Lien held by or for the benefit or on behalf of any First Lien Document Debt Claimholder in any Collateral or by or on behalf of any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations or (iii) the relative rights and duties of the First Pari Passu Lien Claimholders or in any Collateral, as the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Lienscase may be; provided provided, however, that nothing in this Agreement shall be construed to prevent or impair the rights of any First Lien Collateral Agent Debt Claimholder or any other First Pari Passu Lien Claimholder to enforce this Agreement, the Collateral Trust Agreement, the ABL Intercreditor Agreement or to exercise and any of its remedies or rights hereunder, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1other intercreditor agreement.
Appears in 1 contract
Samples: Indenture (Unisys Corp)
Prohibition on Contesting Liens. Each Second Lien Collateral Agent, for itself and on behalf of its Related Second Lien Claimholders, and each First Lien Collateral Agent, for itself and on behalf of its Related First Lien Claimholders, agrees that it and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challenging, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the validity or enforceability of any First Lien Document or any Second Lien Document, respectively, or any First Lien Obligation or any Second Lien Obligation, respectively, (ii) the existence, validity, perfection, priority or enforceability of the Liens securing any First Lien Obligations or any Second Lien Obligations Obligations, as the case may be, or (iii) the relative rights and duties of the First Lien Claimholders or the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such Liens; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any First Lien Collateral Agent or any other First Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunder, including the provisions of this Agreement relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1.
Appears in 1 contract
Prohibition on Contesting Liens. Each Second Junior Lien Representative and each Junior Lien Collateral Agent, for itself and on behalf of its Related Second each other Junior Lien ClaimholdersClaimholder represented by it, and each First Senior Lien Representative and each Senior Lien Collateral Agent, for itself and on behalf of its Related First each other Senior Lien ClaimholdersClaimholder represented by it, agrees that it and its Related Claimholders will not (and each hereby waives any right to) directly or indirectly contest or challenge, or support any other Person in contesting or challengingcontesting, in any proceeding (including any Insolvency or Liquidation Proceeding), (i) the validity or enforceability of any First Lien Document or any Second Lien Document, or any First Lien Obligation or any Second Lien Obligation, (ii) the existencepriority, validity, perfection, priority extent or enforceability of a Lien held, or purported to be held, by or on behalf of any of the Liens securing Senior Lien Claimholders in the Collateral or by or on behalf of any First of the Junior Lien Claimholders in the Collateral, as the case may be, or the amount, nature or extent of the Senior Lien Obligations or any Second Junior Lien Obligations or (iii) the relative rights and duties provisions of the First Lien Claimholders or the Second Lien Claimholders granted and/or established in this Agreement or any Collateral Document with respect to such LiensAgreement; provided provided, that nothing in this Agreement shall be construed to prevent or impair the rights of any First Senior Lien Representative, any Senior Lien Collateral Agent or any other First Senior Lien Claimholder to enforce this Agreement or to exercise any of its remedies or rights hereunderAgreement, including the provisions of this Agreement relating to the priority of the Liens securing the First Senior Lien Obligations as provided in Sections 2.1 and 3.1.
Appears in 1 contract
Samples: Four Lien Intercreditor Agreement (Franchise Group, Inc.)