Common use of Release or Subordination of Liens Clause in Contracts

Release or Subordination of Liens. Except as provided in Section 2.8, the Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Required Collateral Trust Holders accompanied by an Officer's Certificate to the effect that the release or subordination was permitted by each applicable Secured Debt Document; (b) as required by Article 4; (c) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; (d) for the subordination of the Junior Trust Estate and the Junior Liens to the Senior Trust Estate and the Parity Liens; or (e) for the subordination of the Liens on the Current Asset Collateral securing the Parity Lien Obligations to the Liens on the Current Asset Collateral securing the Priority Lien Debt to the extent required by any ABL Intercreditor Agreement.

Release or Subordination of Liens. Except as provided in Section 2.8, the The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Required Collateral Trust Holders Debtholders accompanied by an Officer's Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Secured Debt Document; (b) as required by Article 4; (c) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; (d) for the subordination of the Junior Subordinated Trust Estate and the Junior Subordinated Liens to the Senior Trust Estate and the Parity Priority Liens; or (e) for the subordination of the Liens on the Current Asset Primary ABL Collateral securing the Parity Lien Secured Obligations to the Liens on the Current Asset Primary ABL Collateral securing the Priority Lien ABL Debt Obligations to the extent required by any ABL the Intercreditor Agreement.

Release or Subordination of Liens. Except as provided in Section 2.8, the The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Required Collateral Trust Holders Debtholders accompanied by an Officer's Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Secured Debt Document; (b) as required by Article 4; (c) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; (d) for the subordination of the Junior Subordinated Trust Estate and the Junior Subordinated Liens to the Senior Trust Estate and the Parity Priority Liens; or (e) for the subordination of the Liens on the Current Asset ABL Collateral securing the Parity Lien Secured Obligations to the Liens on the Current Asset ABL Collateral securing the Priority Lien ABL Debt Obligations to the extent required by any ABL the Intercreditor Agreement.

Release or Subordination of Liens. Except as provided in Section 2.8, the The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Required Collateral Trust Holders Debtholders accompanied by an Officer's ’s Certificate to the effect that the release or subordination was permitted by each applicable Secured Debt Document; (b) as required by Article 4; (c) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; (d) for the subordination of the Junior Subordinated Trust Estate and the Junior Subordinated Liens to the Senior Trust Estate and the Parity Priority Liens; or (e) for the subordination of the Liens on the Current Asset ABL Priority Collateral securing the Parity Lien Secured Obligations to the Liens on the Current Asset ABL Priority Collateral securing the Priority Lien ABL Debt Obligations to the extent required by any ABL the Intercreditor Agreement.

Release or Subordination of Liens. Except as provided in Section 2.8, the The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee for any Trust Estate or consent to the release or subordination of any such Lien of the Collateral Trustee, except: (a) as directed by an Act of Required Collateral Trust Holders Debtholders accompanied by an Officer's ’s Certificate to the effect that the release or subordination was permitted by each applicable Secured Debt Document; (b) as required by Article 4; (c) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; (d) for the subordination of the Junior Subordinated Trust Estate and the Junior Subordinated Liens to the Senior Trust Estate and the Parity Priority Liens; or (e) for the subordination of the Liens on the Current Asset ABL Priority Collateral securing the Parity Lien Secured Obligations to the Liens on the Current Asset ABL Priority Collateral securing the Priority Lien ABL Debt Obligations to the extent required by any ABL the Intercreditor Agreement.

Release or Subordination of Liens. Except as provided in Section 2.8, the The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Required Collateral Trust Holders Debtholders accompanied by an Officer's Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Secured Debt Document; (b) as required by Article 4; (c) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; (d) for the subordination of the Junior Subordinated Trust Estate and the Junior Subordinated Liens to the Senior Trust Estate and the Parity Priority Liens; or (e) for the subordination of the Liens on the Current Asset ABL Collateral securing the Parity Lien Secured Debt Obligations to the Liens on the Current Asset ABL Collateral securing the Priority Lien ABL Debt Obligations to the extent required by any ABL the Intercreditor Agreement.

Release or Subordination of Liens. Except as provided in Section 2.8, the The Collateral Trustee will not release or subordinate any Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except: (a) as directed by an Act of Required Collateral Trust Holders Debtholders accompanied by an Officer's Officers’ Certificate to the effect that the release or subordination was permitted by each applicable Secured Debt Document; (b) as required by Article 4; (c) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent jurisdiction; (d) for the subordination of the Junior Trust Estate and the Junior Liens to the Senior Trust Estate and the Parity Priority Liens; or (e) for the subordination of the Liens on the Current Asset ABL Collateral securing the Parity Lien Secured Obligations to the Liens on the Current Asset ABL Collateral securing the Priority Lien Permitted ABL Debt Obligations to the extent required by any the ABL Intercreditor Agreement.