Common use of Relative Priorities Clause in Contracts

Relative Priorities. Notwithstanding (a) the date, manner or order of grant, attachment or perfection of any Second Priority Lien or any First Priority Lien, (b) any provision of the UCC or any other applicable law or the provisions of any Security Document or any other Loan Document, (c) any defect in, or non-perfection, setting aside, or avoidance of a Lien or a First Lien Loan Document or a Second Lien Loan Document, (d) the modification of a First Lien Loan Document or a Second Lien Loan Document, (e) the exchange of any security interest in any Collateral for a security interest in other Collateral, (f) the commencement of an Insolvency Proceeding or any other circumstace whatsoever, including a circumstance that might be a defense available to, or a discharge of, a Grantor in respect of a First Lien Obligation or a Second Lien Obligation or holder of such Obligation, the Second Lien Administrative Agent, for itself and on behalf of the other Second Lien Secured Parties, hereby agrees that, so long as the Discharge of First Lien Obligations has not occurred, (g) any First Priority Lien now or hereafter held by or for the benefit of any First Lien Secured Party shall be senior in right, priority, operation, effect and ll other respects to any and all Second Priority Lien , (h) any Second Priority Lien now or hereafter held by or for the benefit of any Second Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all First Priority Liens, and (i) the First Priority Lien shall be and remain senior in right, priority, operation, effect and all other respects to any Second Priority Liens for all purposes, whether or not any First Priority Liens are subordinated in any respect to any other Lien securing any other obligation of the Company, any other Grantor or any other Person.

Relative Priorities. Notwithstanding (a) the date, manner or order of grant, attachment or perfection of any Second Priority Lien or and any First Priority Lien, (b) and notwithstanding any provision of the UCC or any other applicable law or the provisions of any First Priority Debt Agreement, First Priority Security Document Agreement or Second Priority Financing Agreement or any other Loan Document, (c) any defect in, or non-perfection, setting aside, or avoidance of a Lien or a First Lien Loan Document or a Second Lien Loan Document, (d) the modification of a First Lien Loan Document or a Second Lien Loan Document, (e) the exchange of any security interest in any Collateral for a security interest in other Collateral, (f) the commencement of an Insolvency Proceeding or any other circumstace circumstance whatsoever, including a circumstance the parties hereby agree that might be a defense available to, or a discharge of, a Grantor in respect of a First Lien Obligation or a Second Lien Obligation or holder of such Obligation, the Second Lien Administrative Agent, for itself and on behalf of the other Second Lien Secured Parties, hereby agrees that, so long as the Discharge of First Lien Obligations Priority Claims has not occurred, (gi) any First Priority Lien (to the extent perfected) on any Collateral now or hereafter held by or for the benefit of any First Lien Priority Secured Party shall be senior in right, priority, operation, effect and ll all other respects to any and all Second Priority Lien Liens on any Collateral, and (hii) any Second Priority Lien on any Collateral now or hereafter held by or for the benefit of any Second Lien Priority Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all First Priority LiensLiens (to the extent perfected) on any Collateral, and (i) the First Priority Lien Liens (to the extent perfected) on any Collateral shall be and remain senior in right, priority, operation, effect and all other respects to any Second Priority Liens on any Collateral for all purposes, whether or not any First Priority Liens on any Collateral are subordinated in any respect to any other Lien held by any Person (other than the Second Priority Secured Parties) securing any other obligation of the Company, any other Grantor or any other Person; provided, however, for the avoidance of doubt, nothing herein contained shall be deemed a subordination in right of payment of the Second Priority Claims to the First Priority Claims.

Relative Priorities. Notwithstanding (a) Notwithstanding the time, date, manner or order of grant, attachment or perfection of any Second Priority Lien or any First Priority LienLien (or any actual or alleged defect in any of the foregoing), how any Second Priority Lien or First Priority Lien was acquired (b) whether by grant, possession, statute, operation of law, subrogation or otherwise), and notwithstanding any provision of the UCC as in effect in any US Jurisdiction, or any other applicable law or the provisions of any Security Document or any other Loan Document, (c) any defect in, or non-perfection, setting aside, or avoidance of a Lien or a First Lien Loan Credit Document or a Second Lien Loan Document, (d) the modification of a First Lien Loan Document or a Second Lien Loan Document, (e) the exchange of any security interest in any Collateral for a security interest in other Collateral, (f) the commencement of an Insolvency Proceeding or any other circumstace circumstance whatsoever, including a circumstance that might be a defense available to, or a discharge of, a Grantor in respect of a First Lien Obligation or a Second Lien Obligation or holder of such Obligation, the Second Lien Administrative Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, hereby agrees that, so long as the Discharge of First Lien Obligations has not occurred, (gi) any First Priority Lien now or hereafter held by or for the benefit of any First Lien Secured Party shall be senior in right, priority, operation, effect and ll all other respects to any and all Second Priority Lien , Liens and (hii) any Second Priority Lien now or hereafter held by or for the benefit of any Second Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all First Priority Liens. So long as the Discharge of First Lien Obligations has not occurred, and (i) the First Priority Lien Liens shall be and remain senior in right, priority, operation, effect and all other respects to any Second Priority Liens for all purposes, whether or not any First Priority Liens are subordinated in any respect to any other Lien securing any other obligation of the CompanyHoldings, any other Grantor or any other Person.

Relative Priorities. Notwithstanding (a) Notwithstanding the time, date, manner or order of grant, attachment or perfection of any Second Priority Lien or any First Priority LienLien (or any actual or alleged defect in any of the foregoing), how any Second Priority Lien or First Priority Lien was acquired (b) whether by xxxxx, possession, statute, operation of law, subrogation or otherwise), and notwithstanding any provision of the UCC as in effect in any US Jurisdiction, or any other applicable law or the provisions of any Security Document or any other Loan Document, (c) any defect in, or non-perfection, setting aside, or avoidance of a Lien or a First Lien Loan Credit Document or a Second Lien Loan Document, (d) the modification of a First Lien Loan Document or a Second Lien Loan Document, (e) the exchange of any security interest in any Collateral for a security interest in other Collateral, (f) the commencement of an Insolvency Proceeding or any other circumstace circumstance whatsoever, including a circumstance that might be a defense available to, or a discharge of, a Grantor in respect of a First Lien Obligation or a Second Lien Obligation or holder of such Obligation, the Second Lien Administrative Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, hereby agrees that, so long as the Discharge of First Lien Obligations has not occurred, (gi) any First Priority Lien now or hereafter held by or for the benefit of any First Lien Secured Party shall be senior in right, priority, operation, effect and ll all other respects to any and all Second Priority Lien , Liens and (hii) any Second Priority Lien now or hereafter held by or for the benefit of any Second Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all First Priority Liens. So long as the Discharge of First Lien Obligations has not occurred, and (i) the First Priority Lien Liens shall be and remain senior in right, priority, operation, effect and all other respects to any Second Priority Liens for all purposes, whether or not any First Priority Liens are subordinated in any respect to any other Lien securing any other obligation of the CompanyHoldings, any other Grantor or any other Person.

Relative Priorities. Notwithstanding (a) the date, manner or order of grant, attachment or perfection of any Second Priority Lien or any First Priority Lien, (b) and notwithstanding any provision of the UCC or any other applicable law or the provisions of any Security Document or any other Loan Document, (c) any defect in, or non-perfection, setting aside, or avoidance of a Lien or a First Lien Loan Document or a Second Lien Loan Document, (d) the modification of a First Lien Loan Document or a Second Lien Loan Document, (e) the exchange of any security interest in any Collateral for a security interest in other Collateral, (f) the commencement of an Insolvency Proceeding or any other circumstace circumstance whatsoever, including a circumstance that might be a defense available to, or a discharge of, a Grantor in respect of a First Lien Obligation or a Second Lien Obligation or holder of such Obligation, the Second Lien Administrative AgentRepresentative, for itself and on behalf of the other Second Lien Secured Parties, and the First Lien Representative, for itself and on behalf of the other First Lien Secured Parties, hereby agrees that, that so long as the Discharge of First Lien Secured Obligations has not occurred, (ga) any First Priority Lien now or hereafter held by or for the benefit of any First Lien Secured Party shall be senior in right, priority, operation, effect and ll all other respects to any and all Second Priority Lien , (h) any Second Priority Lien now or hereafter held by or for the benefit of any Second Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all First Priority Liens, and (i) the First Priority Lien Liens shall be and remain senior in right, priority, operation, effect and all other respects to any Second Priority Liens for all purposes, whether or not any First Priority Liens are subordinated in any respect to any other Lien securing any other obligation of the CompanyBorrower, any other Grantor or any other PersonPerson and (b) any Second Priority Lien now or hereafter held by or for the benefit of any Second Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all First Priority Liens; provided that, so long as the Discharge of Second Lien Secured Obligations (other than Excess Second Lien Obligations) has not occurred, any Lien on the Collateral securing any Excess First Lien Obligations now or hereafter held by or on behalf of any First Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all Liens on the Collateral securing any of the Second Lien Secured Obligations (other than any Excess Second Lien Obligations); provided further that, so long as the Discharge of Excess First Lien Obligations has not occurred, any Lien on the Collateral securing any Excess Second Lien Obligations now or hereafter held by or on behalf of any Second Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all Liens on the Collateral securing any of the Excess First Lien Obligations.

Relative Priorities. Notwithstanding (a) the date, manner or order of grant, attachment or perfection of any Second Priority Lien or any First Priority Lien, (b) and notwithstanding any provision of the UCC or any other applicable law or the provisions of any Security Document or any other Loan Document, (c) any defect in, or non-perfection, setting aside, or avoidance of a Lien or a First Lien Loan Document or a Second Lien Loan Document, (d) the modification of a First Lien Loan Document or a Second Lien Loan Document, (e) the exchange of any security interest in any Collateral for a security interest in other Collateral, (f) the commencement of an Insolvency Proceeding or any other circumstace circumstance whatsoever, including a circumstance that might be a defense available to, or a discharge of, a Grantor in respect of a First Lien Obligation or a Second Lien Obligation or holder of such Obligation, the Second Lien Administrative AgentRepresentative, for itself and on behalf of the other Second Lien Secured Parties, and the First Lien Representative, for itself and on behalf of the other First Lien Secured Parties, and the Super Senior Representative, for itself and on behalf of the other Super Senior Secured Parties, hereby agrees that, that so long as the Discharge of First Lien Secured Obligations has not occurred, (ga) any First Priority Lien now or hereafter held by or for the benefit of any First Lien Secured Party shall be senior in right, priority, operation, effect and ll other respects to or any and all Second Priority Lien , (h) any Second Priority Lien now or hereafter held by or for the benefit of any Second Lien Super Senior Secured Party shall be junior and subordinate senior in right, priority, operation, effect and all other respects to any and all First Second Priority Liens, and (i) the First Priority Lien Liens shall be and remain senior in right, priority, operation, effect and all other respects to any Second Priority Liens for all purposes, whether or not any First Priority Liens are subordinated in any respect to any other Lien securing any other obligation of the CompanyBorrower, any other Grantor or any other PersonPerson and (b) any Second Priority Lien now or hereafter held by or for the benefit of any Second Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all First Priority Liens;provided that, so long as the Discharge of Second Lien Secured Obligations (other than Excess Second Lien Obligations) has not occurred, any Lien on the Collateral securing any Excess First Lien Obligations now or hereafter held by or on behalf of any First Lien Secured Party or Super Senior Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all Liens on the Collateral securing any of the Second Lien Secured Obligations (other than any Excess Second Lien Obligations);provided further that, so long as the Discharge of Excess First Lien Obligations has not occurred, any Lien on the Collateral securing any Excess Second Lien Obligations now or hereafter held by or on behalf of any Second Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all Liens on the Collateral securing any of the Excess First Lien Obligations.

Relative Priorities. Notwithstanding (a) the date, manner or order of grant, attachment or perfection of any Second First Priority Lien or any First Super Priority Lien, (b) and notwithstanding any provision of the UCC or any other applicable law or the provisions of any Security Document or any other Loan Document, (c) any defect in, or non-perfection, setting aside, or avoidance of a Lien or a First Lien Loan Document or a Second Lien Loan Document, (d) the modification of a First Lien Loan Document or a Second Lien Loan Document, (e) the exchange of any security interest in any Collateral for a security interest in other Collateral, (f) the commencement of an Insolvency Proceeding or any other circumstace circumstance whatsoever, including a circumstance that might be a defense available to, or a discharge of, a Grantor in respect of a the First Lien Obligation or a Second Lien Obligation or holder of such Obligation, the Second Lien Administrative AgentRepresentative, for itself and on behalf of the other Second First Lien Secured Parties, and the Super Senior Representative, for itself and on behalf of the other Super Senior Secured Parties, hereby agrees that, that so long as the Discharge of First Lien Super Senior Secured Obligations has not occurred, (ga) any Super Priority Lien now or hereafter held by or for the benefit of any Super Senior Secured Party shall be senior in right, priority, operation, effect and all other respects to any and all First Priority Liens, and the Super Priority Liens shall be and remain senior in right, priority, operation, effect and all other respects to any First Priority Liens for all purposes, whether or not any Super Priority Liens are subordinated in any respect to any other Lien securing any other obligation of the Borrower, any other Grantor or any other Person and (b) any First Priority Lien now or hereafter held by or for the benefit of any First Lien Secured Party shall be senior in right, priority, operation, effect and ll other respects to any and all Second Priority Lien , (h) any Second Priority Lien now or hereafter held by or for the benefit of any Second Lien Secured Party shall be junior and subordinate in right, priority, operation, effect and all other respects to any and all Super Priority Liens;provided that, so long as the Discharge of First Priority LiensLien Secured Obligations has not occurred, and (i) any Lien on the First Priority Lien Collateral securing any Excess Super Senior Obligations now or hereafter held by or on behalf of any Super Senior Secured Party shall be junior and remain senior subordinate in right, priority, operation, effect and all other respects to any Second Priority and all Liens for all purposes, whether or not any First Priority Liens are subordinated in any respect to any other Lien on the Collateral securing any other obligation of the CompanyFirst Lien Secured Obligations and provided, further, that, notwithstanding anything to the contrary herein, any other Grantor or any other PersonLien on the Vector Subordinated Note Collateral for the benefit of the First Lien Revolving Lenders and Issuing Bank shall not be subject to the subordination provisions of this Agreement.