Common use of Rights as Unsecured Creditors Clause in Contracts

Rights as Unsecured Creditors. Except as otherwise set forth in Section 2.1, Section 2.2, Section 2.3, Section 2.5 or Section 2.8, the Second Lien Collateral Agent and the Second Lien Claimholders may exercise rights and remedies as unsecured creditors against any Credit Party in accordance with the terms of the Second Lien Debt Documents and applicable law. Except as otherwise set forth in Section 2.1, Section 2.6, Section 2.7 and Section 2.11, nothing in this Agreement shall prohibit the receipt by the Second Lien Agent or any Second Lien Lenders of the required payments of interest and principal so long as such receipt is not the direct or indirect result of the exercise by the Second Lien Agent or any Second Lien Lender of rights or remedies as a secured creditor (including set-off or recoupment) or enforcement of any Lien held by any of them. Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the First Lien Agent or the First Lien Lenders may have with respect to the Collateral. In the event that any Second Lien Lender becomes a judgment Lien creditor as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subject to the terms of this Agreement for all purposes to the same extent as all other Liens securing the Second Lien Debt subject to this Agreement.

Rights as Unsecured Creditors. Except as otherwise set forth in Section 2.1, Section 2.2, Section 2.3, Section 2.5 or Section 2.8this Agreement, the Second Lien Collateral Security Agent and the Second Lien Claimholders Secured Parties may exercise rights and remedies as unsecured creditors against the Borrower or any Credit Party other Grantor in accordance with the terms of the Second Lien Debt Documents to which it is a party and applicable law. Except as otherwise set forth in Section 2.1, Section 2.6, Section 2.7 and Section 2.11this Agreement, nothing in this Agreement shall prohibit the receipt by the Second Lien Agent Security Agents or any Second Lien Lenders Secured Parties of the required payments of interest interest, principal and principal other amounts in respect of the Second Lien Obligations so long as such receipt is not the direct or indirect result of the exercise by the Second Lien Agent Security Agents or any Second Lien Lender Secured Parties of rights or remedies as a secured creditor (including set-off or recoupmentset off) in respect of the Collateral in contravention of this Agreement or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the First Lien Agent or the First Lien Lenders may have with respect to the Collateral. In the event that any Second Lien Lender Security Agent or any other Second Lien Secured Party becomes a judgment Lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subject subordinated to the terms of this Agreement for all purposes to Liens securing First Lien Obligations, on the same extent basis as all the other Liens on the Collateral securing the Second Lien Debt subject Obligations are so subordinated to such First Lien Obligations under this Agreement.

Rights as Unsecured Creditors. Except as otherwise expressly set forth in Section 2.12.4, Section 2.2, Section 2.3, Section 2.5 or Section 2.83.1, the Second Lien Collateral Administrative Agent and the Second Lien Claimholders Secured Parties may exercise rights and remedies as available to unsecured creditors against any Credit Party Grantor in accordance with the terms of the Second Lien Debt Loan Documents and applicable law. Except as otherwise set forth in Section 2.1, Section 2.6, Section 2.7 2.1 and Section 2.114, nothing in this Agreement shall prohibit the receipt by the Second Lien Administrative Agent or any Second Lien Lenders Secured Parties of the required payments of interest and principal so long as such receipt is not the direct or indirect result of the exercise an Enforcement Action by the Second Lien Administrative Agent or any Second Lien Lender Secured Parties against the Collateral or the exercise of rights or remedies as a secured creditor (including set-off or recoupment) or enforcement of any Lien held by any of them. Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the First Lien Administrative Agent or the First Lien Lenders Secured Parties may have with respect to the Collateral. In the event that any Second Lien Lender Secured Party becomes a judgment Lien creditor as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subject to the terms of this Agreement for all purposes to the same extent as all other Liens securing the Second Lien Debt Obligations subject to this Agreement.

Rights as Unsecured Creditors. Except as otherwise set forth in Section 2.1, Section 2.2, Section 2.3, Section 2.5 2.1 or Section 2.83.1 or Section 6, the Second Lien Collateral Agent and the Second Lien Claimholders may exercise rights and remedies as unsecured creditors against any Credit Party Grantor in accordance with the terms of the Second Lien Debt Credit Documents and applicable law. Except as otherwise set forth in Section 2.1, Section 2.6, Section 2.7 2.1 and Section 2.114, nothing in this Agreement shall prohibit the receipt by the Second Lien Collateral Agent or any Second Lien Lenders Claimholders of the required payments of interest and principal so long as such receipt is not the direct or indirect result of the exercise by the Second Lien Collateral Agent or any Second Lien Lender Claimholders of rights or remedies as a secured creditor (including set-off or recoupment) or enforcement of any Lien held by any of them. Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the First Lien Collateral Agent or the First Lien Lenders Claimholders may have with respect to the Collateral. In the event that any Second Lien Lender Claimholder becomes a judgment Lien creditor as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subject to the terms of this Agreement for all purposes to the same extent as all other Liens securing the Second Lien Debt Obligations subject to this Agreement.

Rights as Unsecured Creditors. Except as otherwise set forth in Section 2.12.1 of this Agreement, Section 2.2, Section 2.3, Section 2.5 or Section 2.8the Paying Agent, the Second Lien Collateral Agent and the Second Lien Claimholders may exercise rights and remedies as unsecured creditors against the Borrower or any Credit Party Guarantor that has guaranteed the Second Lien Obligations in accordance with the terms of the Second Lien Debt Credit Documents and applicable law. Except as otherwise set forth in Section 2.1, Section 2.6, Section 2.7 and Section 2.112.1 of this Agreement, nothing in this Agreement shall prohibit the receipt by the Second Lien Collateral Agent or any Second Lien Lenders Claimholders of the required payments of interest and principal so long as such receipt payment is not the direct or indirect result of the exercise by the Second Lien Collateral Agent or any Second Lien Lender Claimholder of rights or and remedies as a secured creditor (including set-off or recoupmentset off) or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the First Lien Collateral Agent or the First Lien Lenders Claimholders may have with respect to the First Lien Collateral. In the event that any Second Lien Lender Claimholder becomes a judgment Lien lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien lien shall be subject to the terms of this Agreement for all purposes (including in relation to the First Lien Collateral and the First Lien Obligations) to the same extent as all the other Liens securing the Second Lien Debt Obligations (created pursuant to the Second Lien Collateral Documents), are subject to this Agreement.

Rights as Unsecured Creditors. Except as otherwise expressly set forth in Section 2.1, Section 2.2, Section 2.3, Section 2.5 or Section 2.8this Agreement, the Second Lien Collateral Administrative Agent and the Second Lien Claimholders may exercise rights and remedies as available to unsecured creditors against any Credit Party Grantor in accordance with the terms of the Second Lien Debt Credit Documents and applicable law. Except as otherwise set forth in Section 2.1, Section 2.6, Section 2.7 2.1 and Section 2.114, nothing in this Agreement shall prohibit the receipt by the Second Lien Administrative Agent or any Second Lien Lenders Claimholders of the required payments of interest and principal so long as such receipt is not the direct or indirect result of the exercise by the Second Lien Administrative Agent or any Second Lien Lender Claimholders of rights or remedies as a secured creditor (including set-off or recoupment) or enforcement of any Lien held by any of them. Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the First Lien Administrative Agent or the First Lien Lenders Claimholders may have with respect to the Collateral. In the event that any Second Lien Lender Claimholder becomes a judgment Lien creditor as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subject to the terms of this Agreement for all purposes to the same extent as all other Liens securing the Second Lien Debt Obligations subject to this Agreement.

Rights as Unsecured Creditors. Except as otherwise set forth in Section 2.1, Section 2.2, Section 2.3, Section 2.5 or Section 2.8, the The Second Lien Collateral Agent and the Second Lien Claimholders may exercise rights and remedies as unsecured creditors against any Credit Party Grantor in accordance with the terms of the Second Lien Debt Documents and applicable law. Except as otherwise set forth in Section 2.1, Section 2.6, Section 2.7 and Section 2.112.01, nothing in this Agreement shall prohibit the receipt by the Second Lien Collateral Agent or any Second Lien Lenders Claimholders of the required payments of interest and principal so long as such receipt is not the direct or indirect result of the exercise by the Second Lien Collateral Agent or any Second Lien Lender Claimholders of rights or remedies as a secured creditor (including set-off or recoupment) or enforcement of any Lien created under the Second Lien Collateral Documents held by any of them. Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the First Lien Collateral Agent or the First Lien Lenders Claimholders may have with respect to the Collateral, including, without limitation, rights under Section 4.02. In the event that any Second Lien Lender Claimholder becomes a judgment Lien creditor as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the Liens securing the First Lien Obligations) to the same extent as all other Liens securing the Second Lien Debt Obligations (created pursuant to the Second Lien Collateral Documents) subject to this Agreement.

Rights as Unsecured Creditors. Except as otherwise expressly set forth in Section 2.12.4, Section 2.2, Section 2.3, Section 2.5 3.1 or Section 2.86, the Second Lien Collateral Agent and the Second Lien Claimholders may exercise rights and remedies as available to unsecured creditors against any Credit Party Grantor in accordance with the terms of the Second Lien Debt Documents and applicable law. Except as otherwise set forth in Section 2.1, Section 2.6, Section 2.7 and Section 2.11, nothing Nothing in this Agreement shall prohibit the receipt by the Second Lien Collateral Agent or any Second Lien Lenders Claimholders of the required payments of interest and principal in respect of the Second Lien Obligations so long as such receipt is not the direct or indirect result of the exercise any Enforcement Action by the Second Lien Collateral Agent or any Second Lien Lender of rights or remedies as a secured creditor (including set-off or recoupment) or enforcement of any Lien held by any of themClaimholders. Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the First Lien Collateral Agent or the First Lien Lenders Claimholders may have with respect to the Collateral. In the event that any Second Lien Lender Claimholder becomes a judgment Lien creditor as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subject to the terms of this Agreement for all purposes to the same extent as all other Liens securing the Second Lien Debt Obligations subject to this Agreement.