Second Lien Indebtedness Sample Clauses

Second Lien Indebtedness. Permission for second lien indebtedness will be considered by Agent and subject to approval by the Requisite Lenders and upon such approval shall be deemed to be Permitted Debt. Any second Lien facility will be subject to an Intercreditor Agreement which shall include, but not be limited to, payment and lien priority provisions, procedures governing enforcement which will permit Lenders to exercise remedies with respect to the Collateral and other reasonable usual and customary terms included in intercreditor arrangements between senior debt and second lien debt holders. One hundred percent (100%) of the net proceeds of any permitted second lien facility must be paid to the Lenders and applied as a permanent reduction against the Loans and Commitments.,

Second Lien Indebtedness. All Second Lien Indebtedness at any time incurred by any Obligor shall be deemed to have been incurred, and all Second Lien Indebtedness held by any Second Lien Lender or other holder of Second Lien Indebtedness shall be deemed to have been extended, acquired or obtained, as applicable, in reliance upon this Agreement, and, to the extent not otherwise required herein, First Lien Agent hereby waives (i) notice of acceptance, or proof of reliance, by Second Lien Agent, the Second Lien Lenders or any other holder of Second Lien Indebtedness of this Agreement, and (ii) notice of the existence, renewal, extension, accrual, creation, or non-payment of all or any part of the Second Lien Indebtedness. Nothing contained in this Agreement shall preclude Second Lien Agent, Second Lien Lenders or any holder of Second Lien Indebtedness from discontinuing the extension of credit to any Obligor (whether under the Second Lien Credit Agreement or otherwise). First Lien Agent, on behalf of itself and the First Lien Lenders, hereby agrees that Second Lien Agent shall have the right, at any time and from time to time, in its sole discretion without the consent of or notice to First Lien Agent or any First Lien Lender (except to the extent such notice or consent is required pursuant to the express provisions of this Agreement), and without incurring any liability to First Lien Agent or any First Lien Lender to amend, waive, restate, supplement, replace, refinance, extend, consolidate, restructure, or otherwise modify (collectively, any “Second Lien Modification”) the Second Lien Loan Documents, in any manner whatsoever, including any renewals or extensions of time of payments and First Lien Agent, on behalf of itself and the First Lien Lenders, consents and agrees to any such Second Lien Modification; provided that Second Lien Agent and the Second Lien Lenders shall obtain the prior written consent of First Lien Agent to any Second Lien Modification that: (i) requires that any payment be made earlier than the date originally scheduled for such payment or changes (including a waiver of) the amount of any mandatory principal prepayment, including any Second Lien Modifications in respect of Section 2.07 of the Second Lien Credit Agreement, provided, that Second Lien Agent may make modifications to Section 2.07 of the Second Lien Credit Agreement that are immaterial and have no adverse effect on the Obligors, First Lien Agent or any First Lien Lender, (ii) increases the applicable...

Second Lien Indebtedness. Second Lien Lenders shall have advanced to the Borrower $40,000,000 pursuant to the Second Lien Credit Agreement, each of the Second Lien Indebtedness Documents required to be executed and delivered on the Closing Date shall be in full force and effect and Agent shall have received true and correct copies of all such Second Lien Indebtedness Documents.

Second Lien Indebtedness. All Indebtedness outstanding under the Second Lien Credit Agreement shall have been paid in full.