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.
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Samples: Collateral Agreement (Verso Paper Corp.), Collateral Agreement (Verso Paper Corp.), Collateral Agreement (Verso Sartell LLC)
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.. [Signature Page Follows]
Appears in 1 contract
Samples: Collateral Agreement
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 First Lien 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.. [Signature Page Follows]
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