Common use of Senior Bank Facility Clause in Contracts

Senior Bank Facility. The amended and restated financing agreement between TII, TEI, CIT Business Credit Canada Inc. ("CIT") and others dated May 30, 2007 (the "CIT Facility") shall remain in effect on substantially the same terms as currently in effect or replaced with a credit facility on substantially the same terms, including the first lien on the Working Capital Assets (defined below), subject to (i) any reasonable modifications requested by CIT or the replacement lender, as the case may be, and consented to by X.X. Xxxxxx Securities, Inc. and/or JPMorgan Chase Bank, N.A., as backstop providers for the New Loan (collectively in such capacity, and otherwise taken together, "JPM"), acting reasonably, (ii) a second lien on the Fixed Assets (defined below), if agreed to by TII, TEI and CIT, (iii) other modifications necessary to ensure conformity with the New Loan and (iv) other modifications as provided for in this term sheet (the CIT Facility as so modified or any replacement facility, in accordance with the foregoing, being the "Senior Bank Facility"). CIT (or the replacement lender, as the case may be), the Administrative Agent (defined below), the Collateral Agent (defined below) and Tembec, each acting reasonably, shall enter into an intercreditor agreement in respect of the outstanding secured obligations, in form and substance satisfactory to JPM, acting reasonably.