Second Priority Documents and First Priority Documents Clause Samples

Second Priority Documents and First Priority Documents. (a) Each Loan Party and the Second Priority Representative, on behalf of itself and the Second Priority Secured Parties, agrees that it shall not at any time execute or deliver any amendment or other modification to any of the Second Priority Documents inconsistent with or in violation of this Agreement. (b) Each Loan Party and the First Priority Representative, on behalf of itself and the First Priority Secured Parties, agrees that it shall not at any time execute or deliver any amendment or other modification to any of the First Priority Documents inconsistent with or in violation of this Agreement. (c) In the event the First Priority Representative enters into any amendment, waiver or consent in respect of any of the First Priority Security Documents for the purpose of adding to, or deleting from, or waiving or consenting to any departures from any provisions of, any First Priority Security Document or changing in any manner the rights of any parties thereunder, then such amendment, waiver or consent shall apply automatically to any comparable provision of the Comparable Second Priority Security Document without the consent of or action by any Second Priority Secured Party (with all such amendments, waivers and modifications subject to the terms hereof), provided that (i) no such amendment, waiver or consent shall have the effect of (A) removing assets subject to the Lien of any Second Priority Security Document, except to the extent that a release of such Lien is permitted by Section 4.2 and provided that there is a corresponding release of such Lien securing the First Priority Obligations, (B) imposing additional duties on the Second Priority Representative without its consent (such consent not to be unreasonably withheld or delayed), or (C) permitting any additional obligations (other than (x) additional indebtedness permitted to be incurred under the First Priority Agreement in an aggregate principal amount not to exceed the limit set forth in the last sentence of the definition thereof and (y) any other obligations contemplated by Article 5 hereof) to be secured by a Lien on the Common Collateral, (ii) any such amendment, waiver or consent that is prejudicial to the interests of the Second Priority Secured Parties to a greater extent than the First Priority Secured Parties shall not apply to the Second Priority Security Documents without the consent of the Second Priority Representative and (iii) notice of such amendment, waiver or consent shall be...