Common use of Ranking and Collateral Clause in Contracts

Ranking and Collateral. The Notes will be secured by first-priority security interests (subject to the Permitted Liens) in the Collateral pursuant to the Security Documents (but subject to the terms and conditions of the Security Documents and the First Lien/First Lien Intercreditor Agreement (including the Priority Waterfall)). The Liens upon any and all Collateral are, to the extent and in the manner provided in the First Lien/First Lien Intercreditor Agreement, equal in ranking with all present and future Liens securing First-Priority Obligations and will be senior in ranking to all present and future Liens securing Junior Lien Obligations.

Ranking and Collateral. The Notes and the Subsidiary Guarantees will be secured by first-priority security interests interest (subject to the Permitted LiensLiens and Liens permitted by Section 4.12 of the Indenture) in the Collateral pursuant to the Security Documents (but subject to the terms and conditions of the Security Documents and the First Lien/First Lien Intercreditor Agreement (including the Priority Waterfall)Agreement). The Liens upon any and all Collateral are, to the extent and in the manner provided in the First Lien/First Lien Intercreditor Agreement, equal in ranking with all present and future Liens securing First-Priority Obligations and will be senior in ranking to all present and future Liens securing Junior Lien Obligations.

Ranking and Collateral. The Notes and the Guarantees will be secured by first-priority security interests interest (subject to the Permitted LiensLiens and Liens permitted by Section 4.12 of the Indenture) in the Collateral pursuant to the Security Documents (but subject to the terms and conditions of the Security Documents and the First Lien/First Lien Intercreditor Agreement (including and, if applicable, the Priority Waterfall)Super Senior Intercreditor Agreement). The Liens upon any and all Collateral are, to the extent and in the manner provided in the First Lien/First Lien Intercreditor Agreement, and, if applicable, the Super Senior Intercreditor Agreement, equal in ranking with all present and future Liens securing First-Priority Obligations and will be senior in ranking to all present and future Liens securing Junior Lien Obligations.

Ranking and Collateral. The Notes From the Issue Date, the Notes, the Parent Guarantee and the Subsidiary Guarantees will be secured by first-priority security interests (subject to the Permitted Liens) in the Collateral pursuant to the Security Documents (but subject to the terms and conditions of the Security Documents and the First Lien/First Lien Intercreditor Agreement (including the Priority Waterfall)Agreement). The Liens upon any and all Collateral are, to the extent and in the manner provided in the First Lien/First Lien Intercreditor Agreement, equal in ranking with all present and future Liens securing First-Priority Obligations and will be senior in ranking to all present and future Liens securing Junior Lien Obligations.