Common use of Related Credit Arrangements Clause in Contracts

Related Credit Arrangements. All obligations of each Pledgor under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender is a party, shall be deemed to be Secured Obligations secured hereby, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement shall be deemed to be a Secured Party hereunder with respect to such Secured Obligations; provided, however, that such obligations shall cease to be Secured Obligations at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of any Lien by virtue of the provisions of this Section shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Pledge Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor Grantor under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender its Affiliates is a party, party shall be deemed to be Secured Obligations secured hereby, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement shall be deemed to be a Secured Party hereunder with respect to such Secured Obligations; provided, however, that such obligations shall cease to be Secured Obligations at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “"Lender” " under the Credit Agreement. No Person who obtains the benefit of any Lien by virtue of the provisions of this Section shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Pledge Security Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X IX of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor any Loan Party under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender is its Affiliates are a party, party shall be deemed to be Secured Obligations secured herebyGuaranteed Liabilities in accordance with Section 1, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement shall be deemed to be a Secured Party hereunder with respect to such Secured ObligationsGuaranteed Liabilities; provided, however, that such obligations shall cease to be Secured Obligations Guaranteed Liabilities at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of any Lien this Guaranty Agreement by virtue of the provisions of this Section and the definition of “Secured Parties” and “Guaranteed Liabilities” shall have have, prior to the Facility Termination Date, any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral Guarantors’ Obligations (including the release or impairment modification of any CollateralGuarantors’ Obligations or security therefor) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Pledge Guaranty Agreement by virtue of the provisions of this Section and the definition of “Secured Parties” and “Guaranteed Liabilities” shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Agent-Related Parties Person shall be entitled to all the rights, benefits and immunities conferred under Article X IX of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor Grantor under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender is a party, shall be deemed to be Secured Obligations secured hereby, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement shall be deemed to be a Secured Party hereunder with respect to such Secured Obligations; provided, however, that such obligations shall cease to be Secured Obligations at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of any Lien by virtue of the provisions of this Section shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Pledge Security Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor any Credit Party under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender is a party, shall be deemed to be Secured Obligations secured hereby, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement Arrangements shall be deemed to be a Secured Party Creditor hereunder with respect to such Secured Obligations; provided, however, that such obligations shall cease to be Secured Obligations at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of any Lien by virtue of the provisions of this Section shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral Mortgaged Property (including the release or impairment of any CollateralMortgaged Property) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party Creditor not a party to the Credit Agreement who obtains the benefit of this Pledge Agreement Deed of Trust by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant Beneficiary to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent Beneficiary hereunder or otherwise relating hereto that do or may affect such Secured PartyCreditor, the Administrative Agent Beneficiary and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor any Loan Party under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender is its Affiliates are a party, party shall be deemed to be Secured Obligations secured herebyGuaranteed Liabilities, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement shall be deemed to be a Secured Party hereunder with respect to such Secured ObligationsGuaranteed Liabilities; provided, however, that such obligations shall cease to be Secured Obligations Guaranteed Liabilities at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “"Lender” " under the Credit Agreement. No Person who obtains the benefit of any Lien this Guaranty Agreement by virtue of the provisions of this Section shall have have, prior to the Facility Termination Date, any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral Guarantors' Obligations (including the release or impairment modification of any CollateralGuarantors' Obligations or security therefor) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Pledge Guaranty Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X IX of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor the Borrower under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender is its Affiliates are a party, party shall be deemed to be Secured Obligations secured herebyBorrower’s Liabilities, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement Arrangements shall be deemed to be a Secured Party hereunder with respect to such Secured ObligationsBorrower’s Liabilities; provided, however, that such obligations shall cease to be Secured Obligations Borrower’s Liabilities at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of any Lien this Guaranty Agreement by virtue of the provisions of this Section shall have have, prior to the Facility Termination Date, any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral Guarantors’ Obligations (including the release or impairment modification of any CollateralGuarantors’ Obligations or security therefor) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Pledge Guaranty Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each each–of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor any Loan Party under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender is its Affiliates are a party, party shall be deemed to be Secured Obligations secured herebyGuaranteed Liabilities, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement shall be deemed to be a Secured Party Beneficiary hereunder with respect to such Secured ObligationsGuaranteed Liabilities; provided, however, that such obligations shall cease to be Secured Obligations Guaranteed Liabilities at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of any Lien this Guaranty Agreement by virtue of the provisions of this Section shall have have, prior to the Facility Termination Date, any right to notice of Form of Guaranty Agreement any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral Guarantors’ Obligations (including the release or impairment modification of any CollateralGuarantors’ Obligations or security therefor) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party Beneficiary not a party to the Credit Agreement who obtains the benefit of this Pledge Guaranty Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured PartyBeneficiary, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X IX of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor the Borrower under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender is its Affiliates are a party, party shall be deemed to be Secured Obligations secured herebyBorrower’s Liabilities, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement Arrangements shall be deemed to be a Secured Party hereunder with respect to such Secured ObligationsBorrower’s Liabilities; provided, however, that such obligations shall cease to be Secured Obligations Borrower’s Liabilities at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of any Lien this Guaranty Agreement by virtue of the provisions of this Section shall have have, prior to the Facility Termination Date, any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral Guarantors’ Obligations (including the release or impairment modification of any CollateralGuarantors’ Obligations or security therefor) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Pledge Guaranty Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor any Designated Borrower under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender is its Affiliates are a party, party shall be deemed to be Secured Obligations secured herebyGuaranteed Liabilities, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement shall be deemed to be a Secured Party hereunder with respect to such Secured ObligationsGuaranteed Liabilities; provided, however, that such obligations shall cease to be Secured Obligations Guaranteed Liabilities at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who that obtains the benefit of any Lien this Guaranty Agreement by virtue of the provisions of this Section shall have have, prior to the Facility Termination Date, any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral Guarantor's Obligations (including the release or impairment modification of any Collateralthe Guarantor's Obligations or security therefor) other than in its capacity as the Administrative Agent, a Lender and or an L/C Issuer and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of this Guaranty Agreement to the contrary, the Administrative Agent shall only be required to verify the payment of, or that other satisfactory arrangement have been made with respect to, the Guaranteed Liabilities arising under Related Credit Arrangements to the extent the Administrative Agent has received written notice of such obligations, together with such supporting documentation as it may request, from the applicable Lender or Affiliate of Lender, as the case may be. Each Secured Party not a party to the Credit Agreement who that obtains the benefit of this Pledge Guaranty Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X IX of the Credit Agreement.. STRYKER CORPORATION CREDIT AGREEMENT

Related Credit Arrangements. All obligations of each Pledgor under or in respect of Related Credit Arrangements (which are not prohibited under the terms of the Credit Agreement) to which any Lender or any Affiliate of any Lender is a party, shall be deemed to be Secured Obligations secured hereby, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement shall be deemed to be a Secured Party hereunder with respect to such Secured Obligations; provided, however, that such obligations shall cease to be Secured Obligations at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “"Lender” " under the Credit Agreement. No Person who obtains the benefit of any Lien by virtue of the provisions of this Section shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Pledge Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X IX of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor any Loan Party under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender is its Affiliates are a party, party shall be deemed to be Secured Obligations secured herebyGuaranteed Liabilities, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement shall be deemed to be a Secured Party hereunder with respect to such Secured ObligationsGuaranteed Liabilities; provided, however, that such obligations shall cease to be Secured Obligations Guaranteed Liabilities at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of any Lien this Guaranty Agreement by virtue of the provisions of this Section shall have have, prior to the Facility Termination Date, any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral Guarantors’ Obligations (including the release or impairment modification of any CollateralGuarantors’ Obligations or security therefor) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Pledge Guaranty Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each Related Party of its Related Parties any of the foregoing shall be entitled to all the rights, benefits and immunities conferred under Article X IX of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor any Loan Party under or in respect of Related Credit Arrangements to which any Lender or any Affiliate of any Lender is its Affiliates are a party, party shall be deemed to be Secured Obligations secured herebyGuaranteed Liabilities, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement shall be deemed to be a Secured Party hereunder with respect to such Secured ObligationsGuaranteed Liabilities; provided, however, that such obligations shall cease to be Secured Obligations Guaranteed Liabilities at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of any Lien this Guaranty Agreement by virtue of the provisions of this Section shall have have, prior to the Facility Termination Date, any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral Guarantors’ Obligations (including the release or impairment modification of any CollateralGuarantors’ Obligations or security therefor) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Pledge Guaranty Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X IX of the Credit Agreement.

Related Credit Arrangements. All obligations of each Pledgor under or in respect of Related Credit Arrangements (which are not prohibited under the terms of the Credit Agreement) to which any Lender or any Affiliate of any Lender is a party, shall be deemed to be Secured Obligations secured hereby, and each Lender or Affiliate of a Lender party to any such Related Credit Arrangement shall be deemed to be a Secured Party hereunder with respect to such Secured Obligations; provided, however, that such obligations shall cease to be Secured Obligations at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of any Lien by virtue of the provisions of this Section shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Pledge Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X IX of the Credit Agreement.

Related Credit Arrangements. All obligations of each the Pledgor under or in respect of Related Swap Contracts and Secured Cash Management Arrangements (which are not prohibited under the terms of the Revolving Credit Arrangements Agreement) to which any Lender or any Affiliate of any Lender is a party, shall be deemed to be Secured Obligations secured hereby, and each Lender or Affiliate of a Lender party to any such Related Credit Swap Contract or Secured Cash Management Arrangement shall be deemed to be a Revolving Secured Party hereunder with respect to such Secured Obligations; provided, however, that such obligations shall cease to be Secured Obligations at such time, prior to the Facility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Revolving Credit Agreement. No Person who obtains the benefit of any Lien by virtue of the provisions of this Section shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Notwithstanding any other provisions of this Pledge Agreement to the contrary, the Administrative Agent shall only be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, the Secured Obligations arising under Related Swap Contracts or Secured Cash Management Arrangements to the extent the Administrative Agent has received written notice of such Obligations, together with such supportive documentation as it may request from the applicable Lender or Affiliate of a Lender. Each Revolving Secured Party not a party to the Revolving Credit Agreement who obtains the benefit of this Pledge Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Revolving Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Revolving Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article X IX of the Revolving Credit Agreement.