Shared Collateral Documents Clause Samples
The Shared Collateral Documents clause defines the rules and procedures governing documents that establish or evidence security interests in collateral shared among multiple parties, such as lenders in a syndicated loan. It typically outlines which documents are considered shared, how they are to be maintained, and the rights and obligations of each party with respect to these documents. This clause ensures that all parties have clear, coordinated access to and control over the collateral documentation, thereby reducing the risk of disputes and promoting efficient enforcement of security interests if needed.
Shared Collateral Documents. The Borrower and the Grantors confirm that (i) references in the Shared Collateral Documents to the Existing DHI Credit Agreement, as modified (whether by amendment, amendment and restatement, supplement, replacement, modification or other like description of modification), now refer to the Credit Agreement and (ii) the Obligations under the Credit Agreement remain secured under the Shared Collateral Documents. Without limiting the foregoing, the Borrower and the Grantors confirm that (i) references in the Shared Security Agreement to the Existing DHI Credit Agreement, as modified (whether by amendment, amendment and restatement, supplement, replacement, modification or other like description of modification), now refer to the Credit Agreement and (ii) the Shared Secured Obligations (as defined in the Credit Agreement) remain and constitute Shared Secured Obligations under the Shared Security Agreement and are secured thereunder.
Shared Collateral Documents. (a) The New 2030 Second Out Notes and the New 2030 Second Out Note Guarantees:
(i) are secured by the Shared Collateral (sharing on a pari passu, ratable basis with the New 2029 Second Out Notes, including, when issued, the Second Out Exchangeable Notes and any other Second Priority Secured Obligations) pursuant to the terms of the Intercreditor Agreement; and
(ii) have the right to receive payments from the Shared Collateral, including the proceeds of any enforcement of Shared Collateral, or any guarantees of any Series of Secured Debt (including the New 2030 Second Out Note Guarantees), (i) after the payment, including the proceeds of any enforcement of Shared Collateral, of amounts due and payable in respect of the Superpriority Secured Obligations, and (ii) on a “second out” basis after the payment of amounts due and payable in respect of the Superpriority Secured Obligations and the First Priority Secured Obligations pursuant to the terms of the Intercreditor Agreement.
Shared Collateral Documents. (a) Other than with respect to the German Security, in furtherance of the provisions of Section 6.05 applicable to the Shared Collateral, each Grantor agrees that each Shared Collateral Document shall, to the extent possible under applicable law governing each such Shared Collateral Document, include the following language (or language to similar effect approved by the Designated Senior Representative): “Notwithstanding anything to the contrary contained in this Agreement, each Grantor, the Designated Senior Representative (on behalf of the Senior Secured Parties) and the Designated Second Priority Representative (on behalf of the Second Priority Debt Parties) acknowledges and agrees that:
Shared Collateral Documents. (a) The New First Out Notes and the New First Out Note Guarantees:
(i) are secured by the Shared Collateral (sharing on a pari passu, ratable basis with the Convertible Debentures, the AerCap Secured Obligations and any other First Priority Secured Obligations) pursuant to the terms of the Intercreditor Agreement; and
(ii) have the right to receive payments from the Shared Collateral, including the proceeds of any enforcement of Shared Collateral, or any guarantees of any Series of Secured Debt (including the New First Out Note Guarantees), (i) after the payment, including the proceeds of any enforcement of Shared Collateral, of amounts due and payable in respect of the Superpriority Secured Obligations, and (ii) on a “first out” basis prior to the payment of amounts due and payable in respect of the Second Priority Secured Obligations pursuant to the terms of the Intercreditor Agreement.
(b) The due and punctual payment of the interest, additional amounts, if any, principal and premium, if any, on the New First Out Notes and New First Out Note Guarantees when and as the same shall be due and payable, whether on a Payment Date, at maturity, by acceleration, repurchase, redemption, prepayment or otherwise, and interest and additional amounts, if any, on the overdue principal of and interest and additional amounts, if any, on the New First Out Notes and New First Out Note Guarantees and performance of all other Obligations of the Issuer and the Guarantors to the New First Out Notes Secured Parties under this Indenture, the New First Out Notes, the New First Out Note Guarantees, the Intercreditor Agreement, and the Shared Collateral Documents, according to the terms hereunder or thereunder, shall be secured as provided in the Shared Collateral Documents, which define the terms of the Liens that secure the Obligations, subject to the terms of the Intercreditor Agreement. The Trustee, the Collateral Agents, the Issuer and the Guarantors hereby acknowledge and agree that the Collateral Agents hold the Shared Collateral in trust for the benefit of the New First Out Notes Secured Parties pursuant to the terms of the Shared Collateral Documents and the Intercreditor Agreement. Each Holder, by accepting a New First Out Note, consents and agrees to (A) the terms of the Shared Collateral Documents (including the provisions providing for the possession, use, release and foreclosure of Shared Collateral) and the Intercreditor Agreement as each may be in effect or may be...
Shared Collateral Documents. Each Group Representative agrees (on its behalf and on behalf of the Group that it represents) that it has received copies of the other Shared Collateral Documents and, by its acceptance of the benefits thereof, agrees to the terms and provisions thereof.
Shared Collateral Documents. The security interests created in favor of Collateral Agent under the Shared Collateral Documents will at all times from and after the Closing Date constitute, as security for the obligations purported to be secured thereby, a legal, valid and enforceable security interest in and Lien on all of the Collateral referred to therein in favor of Collateral Agent for the benefit of Lenders and Existing Lenders, perfected and prior to the rights of all third persons (subject to Liens consented to in writing by Collateral Agent with respect to such Collateral and other Liens permitted by subsection 7.2) in accordance with the requirements of all applicable Shared Collateral Documents. No consents, filings or recordings are required in order to perfect (or maintain the perfection or priority of) the security interests purported to be created by any of the Shared Collateral Documents, other than such as have been obtained and which remain in full force and effect and periodic Uniform Commercial Code continuation filings or as otherwise specified by the terms of any applicable Collateral Document.