Sharing of Security Clause Samples

Sharing of Security. The Borrower and the Lenders agree and acknowledge that the Security is being shared equally among the Lenders to secure Indebtedness of the Borrower under the Revolving Loan, on a pari passu basis; and that the Agent will hold the Security for the benefit of the Agent and the Lenders hereunder.

Sharing of Security. (a) The Borrower and the Lenders agree and acknowledge that, subject to Section 14.5, the Security is being shared equally among the Lenders and the Swap Lenders to secure the Lender Secured Obligations on a rateable basis; and that the Collateral Agent will hold the Security for the benefit of the Lender Secured Parties hereunder. For purposes of the above sentence, “rateable basis” means (subject to Section 14.5): (i) with respect to the Lenders under a Credit Facility, the Canadian Dollar Exchange Equivalent of the Aggregate Principal Amount and other Obligations under such Credit Facility relative to the Canadian Dollar Exchange Equivalent of all Lender Secured Obligations; (ii) with respect to the Swap Lenders, the Canadian Dollar Exchange Equivalent of the Permitted Swap Indebtedness relative to the Canadian Dollar Exchange Equivalent of all Lender Secured Obligations; and (iii) with respect to any Lender as it relates to the Cash Management Obligations, the Canadian Dollar Exchange Equivalent of the Cash Management Obligations owing to such Lender relative to the Canadian Dollar Exchange Equivalent of all Lender Secured Obligations. (b) If requested by the Lenders or any Swap Lender, the Lenders and the Swap Lenders will enter into such further intercreditor agreements and assurances as may be reasonably requested to further evidence the sharing provisions of this Section 4.2. In addition to the pari passu sharing provisions referred to above, such further agreements shall incorporate the following principles (which will also apply prior to the entering into of such further agreements): (i) any matter or thing done or omitted to be done by a Lender under or in respect of this Agreement, the Security or the other Documents will be binding upon the Swap Lenders and each Lender does hereby indemnify and save the other Lenders and the Agent harmless from any and all claims, demands or actions that a Swap Lender who is an Affiliate of such Lender may have against the Lenders and the Agent for any matter or thing done or omitted to be done by any of them under and in respect of this Agreement, the Security and the other Documents; and (ii) if the Agent accelerates the Obligations pursuant to Section 14.2, each Swap Lender will promptly take all such steps as may be reasonably required, if any, to terminate all of its outstanding Swap Documents. The provisions of this Section 4.2 are subject in all respects to the provisions of the Intercreditor Agreement.

Sharing of Security. The Borrower and the Lenders agree and acknowledge that the Security is being shared equally among the Lender Secured Parties to secure the Lender Secured Obligations on a pari passu basis and that the Agent will hold the Security for the benefit of the Lender Secured Parties hereunder. For purposes of the above sentence, “pari passu basis” means: (a) with respect to the Lenders under a Credit Facility, the Canadian Dollar Exchange Equivalent of the Aggregate Principal Amount and other Obligations under such Credit Facility relative to the Canadian Dollar Exchange Equivalent of all Lender Secured Obligations; (b) with respect to the Swap Lenders, the Canadian Dollar Exchange Equivalent of the Permitted Swap Indebtedness relative to the Canadian Dollar Exchange Equivalent of all Lender Secured Obligations; and (c) with respect to any Lender as it relates to the Cash Management Obligations, the Canadian Dollar Exchange Equivalent of the Cash Management Obligations owing to such Lender relative to the Canadian Dollar Exchange Equivalent of all Lender Secured Obligations. If requested by the Lenders or any Swap Lender, the Lenders and the Swap Lenders will enter into such further agreements and assurances as may be reasonably requested to further evidence the provisions of this Section 4.2. 54411012.5

Sharing of Security. The Borrower and the Lenders agree and acknowledge that the Security is being shared equally among the Lenders and the Swap Lenders to secure Obligations and the Cash Management Obligations of the Loan Parties under the Documents and any Swap Indebtedness on a pari passu basis; and that the Agent will hold the Security for the benefit of the Lenders hereunder and the Swap Lenders with respect to all the Swap Indebtedness. For purposes of the above sentence, “pari passu basis” means: (a) with respect to the Lenders under the Credit Facilities, the Canadian Dollar Exchange Equivalent of the Aggregate Principal Amount and all other Obligations under such Credit Facilities relative to the Canadian Dollar Exchange Equivalent of the Aggregate Principal Amount and all other Obligations under such Credit Facilities, the Swap Indebtedness and the Cash Management Obligations; and (b) with respect to the Swap Lenders, the Canadian Dollar Exchange Equivalent of Swap Indebtedness relative to the Canadian Dollar Exchange Equivalent of the Aggregate Principal Amount and all other Obligations under the Credit Facilities, the Swap Indebtedness and the Cash Management Obligations; and (c) with respect to the Operating Lender as it relates to the Cash Management Obligations, the Canadian Dollar Exchange Equivalent of the Cash Management Obligations relative to the Canadian Dollar Exchange Equivalent of the Aggregate Principal Amount and other Obligations under the Credit Facilities, the Swap Indebtedness and the Cash Management Obligations. If requested by the Lenders or any Swap Lender, the Lenders and the Swap Lenders will enter into such further agreements and assurances as may be reasonably requested to further evidence the provisions of this Section 4.2.