Common use of Subject to Intercreditor Clause in Contracts

Subject to Intercreditor. Each Lender party hereto or that becomes a party hereto from time to time acknowledges that it has received and reviewed the Intercreditor Agreement and agrees to be bound by the terms thereof. Notwithstanding anything herein to the contrary, (i) the Liens and security interests granted to the Administrative Agent for the benefit of the Secured Parties pursuant to the Collateral Documents and (ii) the exercise of any right or remedy by the Administrative Agent and the Lenders hereunder or under the Collateral Documents and the application of proceeds (including insurance and condemnation proceeds) of any Collateral (collectively, the “Intercreditor Provisions”), in each case, are subject to the limitations and provisions of the Intercreditor Agreement to the extent provided therein. In the event of any conflict in respect of the Intercreditor Provisions between the terms of the Intercreditor Agreement and the terms of this Agreement or any other Loan Document, the terms of the Intercreditor Agreement shall govern.

Appears in 3 contracts

Samples: Credit Agreement (CorePoint Lodging Inc.), Credit Agreement (CorePoint Lodging Inc.), Credit Agreement (CorePoint Lodging Inc.)

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Subject to Intercreditor. Each Lender party hereto or that becomes a party hereto from time to time acknowledges that it has received and reviewed the Intercreditor Agreement and agrees to be bound by the terms thereof. Notwithstanding anything herein to the contrary, (i) the Liens and security interests granted to the Administrative Agent for the benefit of the Secured Parties pursuant to the Collateral Documents and (ii) the exercise of any right or remedy by the Administrative Agent and the Lenders hereunder or under the Collateral Documents and the application of proceeds (including insurance and condemnation proceeds) of any Collateral (collectively, the “Intercreditor Provisions”), in each case, are subject to the limitations and provisions of the Intercreditor Agreement to the extent provided therein. In the event of any conflict in respect of the Intercreditor Provisions between the terms of the Intercreditor Agreement and the terms of this Agreement or any other Loan Document, the terms of the Intercreditor Agreement shall govern.. [Signature Pages FollowIntentionally Omitted]

Appears in 1 contract

Samples: Credit Agreement (CorePoint Lodging Inc.)

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