Senior Collateral Documents Clause Samples
The 'Senior Collateral Documents' clause defines and identifies the specific agreements and instruments that establish and govern the security interests held by senior lenders in a financing arrangement. Typically, this clause lists documents such as security agreements, pledge agreements, and mortgages that secure the senior debt, ensuring that these lenders have priority claims over the collateral in the event of default. By clearly specifying which documents constitute the senior collateral package, the clause helps prevent disputes over priority and ensures all parties understand the hierarchy of claims on the secured assets.
Senior Collateral Documents. The Agent acknowledges and agrees, on behalf of itself and any other Secured Party, that any provision of this Agreement to the contrary notwithstanding, until the First Lien Termination Date, the Pledgors shall not be required to act or refrain from acting pursuant to the Security Documents or with respect to any Collateral on which the First Lien Agent has a Lien superior in priority to the Agent’s Lien thereon in any manner that would result in a default under the terms and provisions of the Senior Lender Documents.
Senior Collateral Documents. The Collateral Agent acknowledges and agrees, on behalf of itself and any Secured Party, that any provision of this Agreement to the contrary notwithstanding, until the First-Lien Termination Date, the Indenture Parties shall not be required to act or refrain from acting pursuant to the Security Documents or with respect to any Collateral on which the Intercreditor Agent has a Lien superior in priority to the Collateral Agent’s Lien thereon in any manner that would result in a default under the terms and provisions of the Senior Collateral Documents.
Senior Collateral Documents. The Collateral Agent acknowledges, on behalf of itself and any Secured Party, that, any provision of this Agreement to the contrary notwithstanding, until the Discharge of Senior Lender Claims, the Pledgors shall not be required to act or refrain from acting pursuant to this Agreement or with respect to any Collateral on which the Intercreditor Agent has a Lien superior in priority to the Collateral Agent’s Lien thereon in any manner that would result in a default under the terms and provisions of the Senior Lender Documents.