Subject to Intercreditor Agreements. Notwithstanding anything herein to the contrary, (i) the Liens and security interests granted to the Mortgagee for the benefit of the Secured Parties pursuant to this Mortgage and (ii) the exercise of any right or remedy by the Mortgagee hereunder or the application of proceeds (including insurance and condemnation proceeds) of the Mortgaged Property are subject to the provisions of the Intercreditor Agreements to the extent provided therein. In the event of any conflict between the terms of the Intercreditor Agreements and the terms of this Mortgage, the terms of the applicable Intercreditor Agreement shall govern.
Subject to Intercreditor Agreements. (a) Notwithstanding anything herein to the contrary, (i) the Liens and security interests granted to the Collateral Agent for the benefit of the Secured Parties pursuant to this Agreement and (ii) the exercise of any right or remedy by the Collateral Agent hereunder or the application of proceeds (including insurance proceeds and condemnation proceeds) of any Collateral are subject to the provisions of the ABL Intercreditor Agreement. In the event of any conflict between the terms of the ABL Intercreditor Agreement and the terms of this Agreement, the terms of the ABL Intercreditor Agreement shall govern.
(b) Notwithstanding anything herein to the contrary, after a First Lien/First Lien Intercreditor Agreement has been entered into, (i) the Liens and security interests granted to the Collateral Agent for the benefit of the Secured Parties pursuant to this Agreement and (ii) the exercise of any right or remedy by the Collateral Agent hereunder or the application of proceeds (including insurance proceeds and condemnation proceeds) of any Collateral constituting Shared Collateral shall be subject to the provisions of the First Lien/First Lien Intercreditor Agreement. In the event of any conflict between the terms of the First Lien/First Lien Intercreditor Agreement and the terms of this Agreement, the terms of the First Lien/First Lien Intercreditor Agreement shall govern.
(c) Notwithstanding anything herein to the contrary, (i) the Liens and security interests granted to the Collateral Agent for the benefit of the Secured Parties pursuant to this Agreement and (ii) the exercise of any right or remedy by the Collateral Agent hereunder or the application of proceeds (including insurance proceeds and condemnation proceeds) of any Collateral constituting Common Collateral are subject to the provisions of the First Lien/Second Lien Intercreditor Agreement. In the event of any conflict between the terms of the First Lien/Second Lien Intercreditor Agreement and the terms of this Agreement, the terms of the First Lien/Second Lien Intercreditor Agreement shall govern.
Subject to Intercreditor Agreements. Notwithstanding anything herein to the contrary, (i) the liens and security interests granted to the Secured Parties pursuant to the Collateral Documents are expressly subject to the Term Intercreditor Agreement and the Intercreditor Agreement and (ii) the exercise of any right or remedy by the Administrative Agent hereunder or under the Term Intercreditor Agreement or the Intercreditor Agreement is subject to the limitations and provisions of the Term Intercreditor Agreement and the Intercreditor Agreement. In the event of any conflict between the terms of the Term Intercreditor Agreement or the Intercreditor Agreement and the terms of this Agreement, the terms of the Term Intercreditor Agreement or the Intercreditor Agreement (as applicable) shall govern. In the event of any conflict between the terms of the Term Intercreditor Agreement and the terms of the Intercreditor Agreement, the terms of the Intercreditor Agreement shall govern.
Subject to Intercreditor Agreements. Notwithstanding anything to the contrary, (a) the Liens and security interests granted to the Agent pursuant to this Agreement are expressly subject to each Intercreditor Agreement and (b) the exercise of any right or remedy by the Agent hereunder is subject to the limitations and provisions of each Intercreditor Agreement. In the event of any conflict between the terms of any Intercreditor Agreement and the terms of this Agreement, the terms of such Intercreditor Agreement shall govern.
Subject to Intercreditor Agreements. Notwithstanding anything herein to the contrary, the lien and security interest granted to the Junior-Priority Collateral Agent, for the benefit of the Secured Parties, pursuant to this Agreement and the exercise of any right or remedy by the Junior-Priority Collateral Agent and the other Secured Parties hereunder are subject to the provisions of the Intercreditor Agreements. In the event of any conflict or inconsistency between the terms of the Intercreditor Agreements and this Agreement, the terms of the Intercreditor Agreements shall govern.
Subject to Intercreditor Agreements. Notwithstanding anything herein to the contrary, the terms of this Agreement are expressly subject to the terms of (a) the Senior Lender Intercreditor Agreement, (b) the Junior Intercreditor Agreement and (c)
Subject to Intercreditor Agreements. Section 11.22 of the Existing Agreement is hereby amended and restated in its entirety to read as follows: “Notwithstanding anything herein to the contrary, (i) the liens and security interests granted to the Secured Parties pursuant to the Collateral Documents are expressly subject to the 2016 Intercreditor Agreement, the First Lien Intercreditor Agreement and the 2014 Intercreditor Agreement and (ii) the exercise of any right or remedy by the Administrative Agent hereunder or under the 2016 Intercreditor Agreement, the First Lien Intercreditor Agreement or the 2014 Intercreditor Agreement is subject to the limitations and provisions of the 2016 Intercreditor Agreement, the First Lien Intercreditor Agreement and the 2014 Intercreditor Agreement. In the event of any conflict between the terms of the 2016 Intercreditor Agreement, the First Lien Intercreditor Agreement or the 2014 Intercreditor Agreement and the terms of this Agreement, the terms of the 2016 Intercreditor Agreement, the First Lien Intercreditor Agreement or the 2014 Intercreditor Agreement (as applicable) shall govern. Except as otherwise expressly set forth in the 2016 Intercreditor Agreement, the First Lien Intercreditor Agreement or the 2014 Intercreditor Agreement, in the event of any conflict between the terms of the 2016 Intercreditor Agreement and the terms of the First Lien Intercreditor Agreement or the 2014 Intercreditor Agreement, the First Lien Intercreditor Agreement or the 2014 Intercreditor Agreement (as applicable) shall govern.”
Subject to Intercreditor Agreements. Notwithstanding anything herein to the contrary, (i) the liens and security interests granted to the Collateral Agent pursuant to this Agreement are expressly subject and subordinate to the liens and security interests granted to (a) JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (and its permitted successors), pursuant to the Third Amended and Restated Collateral Agreement dated as of January 29, 2010 (as further amended, restated, supplemented or otherwise modified from time to time), by and among Hexion LLC, Parent, certain subsidiaries of Parent, and JPMorgan Chase Bank, N.A., as collateral agent, or (b) any agent or trustee for any other Senior Lenders (as defined in the Intercreditor Agreement), and (ii) the exercise of any right or remedy by the Collateral Agent hereunder is subject to the limitations and provisions of the Existing Second Lien Intercreditor Agreement and the Intercreditor Agreement. In the event of any conflict between the terms of any of the Existing Second Lien Intercreditor Agreement and the Intercreditor Agreement, on the one hand, and the terms of this Agreement, on the other hand, then the terms of the Existing Second Lien Intercreditor Agreement or the Intercreditor Agreement, as applicable, shall govern. Nothing herein is intended, or shall be construed, to give any Loan Party any additional right, remedy or claim under, to or in respect of this Agreement or any Collateral.
Subject to Intercreditor Agreements. Notwithstanding anything herein to the contrary, (i) the liens and security interests granted to the Collateral Agent pursuant to the Collateral Documents are expressly subject to the First Lien Intercreditor Agreement, any Second Lien Intercreditor Agreement (if in effect) and any other intercreditor agreement entered into pursuant hereto and (ii) the exercise of any right or remedy by the Trustee or the Collateral Agent hereunder or under the First Lien Intercreditor Agreement, any Second Lien Intercreditor Agreement (if in effect) and any other intercreditor agreement entered into pursuant hereto is subject to the limitations and provisions of the First Lien Intercreditor Agreement, any Second Lien Intercreditor Agreement (if in effect) and such other intercreditor agreement entered into pursuant hereto. In the event of any conflict between the terms of the First Lien Intercreditor Agreement, any Second Lien Intercreditor Agreement (if in effect) or any other such intercreditor agreement and terms of this Indenture, the terms of the First Lien Intercreditor Agreement, any Second Lien Intercreditor Agreement (if in effect) or such other intercreditor agreement, as applicable, shall govern.
Subject to Intercreditor Agreements. Notwithstanding anything to the contrary, (a) the Liens and security interests granted to the Collateral Trustee pursuant to this Agreement are expressly subject to each of the Intercreditor Agreements and (b) the exercise of any right or remedy by the Collateral Trustee hereunder is subject to the limitations and provisions of each of the Intercreditor Agreements. In the event of any conflict between the terms of any Intercreditor Agreement and the terms of this Agreement, the terms of such Intercreditor Agreement shall govern and control at any time that such conflicting Intercreditor Agreement is in effect. Notwithstanding anything to the contrary contained herein, the Collateral Trustee acknowledges and agrees that no Grantor shall be required to take or refrain from taking any action at the request of the Collateral Trustee with respect to the Collateral if such action or inaction would be inconsistent with the terms of any of the Intercreditor Agreements.
