Subordinate Liens. Lenders irrevocably authorize Administrative Agent, at its option and in its discretion, to subordinate any Lien or encumbrance on any property granted to or held by Administrative Agent under any Loan Document or Security Document to the holder of any Lien or encumbrance on such property that constitutes a purchase money lien or a capital lease.
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Samples: Credit Agreement (American Standard Energy Corp.), Credit Agreement (Voyager Oil & Gas, Inc.), Credit Agreement (American Standard Energy Corp.)
Subordinate Liens. Lenders irrevocably authorize the Administrative Agent, at its option and in its discretion, to subordinate any Lien or encumbrance on any property granted to or held by the Administrative Agent under any Loan Document or Security Document to the holder of any Lien or encumbrance on such property that constitutes a purchase money lien or a capital lease.
Appears in 1 contract
Subordinate Liens. Lenders irrevocably authorize the Administrative Agent, at its option and in its discretion, to subordinate any Lien lien or encumbrance on any property granted to or held by the Administrative Agent under any Loan Document or Security Document to the holder of any Lien lien or encumbrance on such property that constitutes a purchase money lien or a capital lease.
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