Common use of Term of this Agreement; Severability Clause in Contracts

Term of this Agreement; Severability. Subject to Section 6.4, (i) if no Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims and (ii) if an Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims. This is a continuing agreement of lien subordination and the First Priority Lenders may continue, at any time and without notice to the Second Priority Agent or any Second Priority Lender, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor constituting First Priority Claims in reliance hereon. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

Appears in 3 contracts

Samples: Intercreditor Agreement (AZEK Co Inc.), Intercreditor Agreement (CPG Newco LLC), Intercreditor Agreement (CPG Newco LLC)

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Term of this Agreement; Severability. Subject to Section 6.4, (ia) if no Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims and (ii) if an Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims. This is a continuing agreement of lien subordination and the First Priority Lenders Secured Parties may continue, at any time and without notice to the Second Priority Agent or any Second Priority LenderSecured Parties, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company Borrower or any other Grantor constituting First Priority Claims Obligations in reliance hereon. Each Second Priority Agent, for itself and on behalf of the Second Priority Secured Parties, hereby waives any right it may have under applicable Law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereofof this Agreement, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. (b) This Agreement shall terminate and be of no further force and effect: (i) with respect to the ABL Agent, the ABL Secured Parties and the ABL Obligations, upon the Discharge of ABL Obligations, subject to the rights of the ABL Secured Parties under Section 6.5; and (ii) with respect to the Term Loan/Notes Agents, the Term Loan/Notes Secured Parties and the Term Loan/Notes Obligations, upon the Discharge of Term Loan/Notes Obligations, subject to the rights of the Term Loan/Notes Secured Parties under Section 6.5.

Appears in 3 contracts

Samples: Abl Intercreditor Agreement (Community Health Systems Inc), Abl Intercreditor Agreement (Community Health Systems Inc), Abl Credit Agreement (Community Health Systems Inc)

Term of this Agreement; Severability. Subject to Section 5.7 and Section 6.4, (i) if no Event of Default has occurred and is continuing under any either Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the first to occur of the Discharge of ABL Priority Claims or the Discharge of Term Priority Claims and (ii) if an Event of Default has occurred and is continuing under either Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and Claims, the Discharge of Term Loan Claims and (ii) if an Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge payment in full in cash of all ABL Other Claims and Term Loan ClaimsLoan/Cash Flow Revolver Other Claims (other than, in each case, indemnification and contingent obligations for which no claim has been made). This is a continuing agreement of lien subordination and the First Priority Lenders may continue, at any time and without notice to the Second Priority Agent or any Second Priority Lender, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company Borrower or any other Grantor constituting First Priority Claims in reliance hereon. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

Appears in 2 contracts

Samples: Credit Agreement (Quorum Health Corp), Abl Credit Agreement (Quorum Health Corp)

Term of this Agreement; Severability. Subject to Section 6.4, (ia) if no Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims and (ii) if an Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims. This is a continuing agreement of lien subordination and the First Priority Lenders may continue, at any time and without notice to the Second Priority Agent or any Second Priority Lender, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor constituting First Priority Claims in reliance hereon. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. (b) This Agreement shall terminate and be of no further force and effect: (i) with respect to the ABL Agent, the ABL Lenders and the ABL Claims, upon the Discharge of ABL Claims, subject to the rights of the ABL Lenders under Section 6.5; and (ii) with respect to the Term Loan Agents, the Term Loan Lenders and the Term Loan Claims, upon the Discharge of Term Loan Claims, subject to the rights of the Term Loan Lenders under Section 6.5.

Appears in 2 contracts

Samples: Intercreditor Agreement (PET Acquisition LLC), Intercreditor Agreement (PET Acquisition LLC)

Term of this Agreement; Severability. Subject to Section 6.4, (ia) if no Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims and (ii) if an Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims. This is a continuing agreement of lien subordination and the First Priority Lenders may continue, at any time and without notice to the Second Priority Agent or any Second Priority Lender, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company Term Loan Borrower, any ABL Borrower or any other Grantor constituting First Priority Claims in reliance hereon. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. (b) This Agreement shall terminate and be of no further force and effect: (i) with respect to the ABL Agent, the ABL Lenders and the ABL Claims, upon the Discharge of ABL Claims, subject to the rights of the ABL Lenders under Section 6.5; and (ii) with respect to the Term Loan Agents, the Term Loan Lenders and the Term Loan Claims, upon the Discharge of Term Loan Claims, subject to the rights of the Term Loan Lenders under Section 6.5.

Appears in 2 contracts

Samples: Senior Lien Term Loan Credit Agreement (Forterra, Inc.), Abl Credit Agreement (Forterra, Inc.)

Term of this Agreement; Severability. Subject to Section 6.4, (ia) if no Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims and (ii) if an Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims. This is a continuing agreement of lien subordination and the First Priority Lenders Holders may continue, at any time and without notice to the any Second Priority Agent or any Second Priority LenderHolder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor constituting First Priority Claims in reliance hereon. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. (b) This Agreement shall terminate and be of no further force and effect: (i) with respect to the ABL Agents, the ABL Lenders and the ABL Claims, upon the Discharge of ABL Claims, subject to the rights of the ABL Lenders under Section 6.5; and (ii) with respect to the Term/Note Agents, the Term/Note Holders and the Term/Note Claims, upon the Discharge of Term/Note Claims, subject to the rights of the Term/Note Holders under Section 6.5.

Appears in 2 contracts

Samples: Abl Credit Agreement (Pyxus International, Inc.), Abl/Term Loan/Notes Intercreditor Agreement (Pyxus International, Inc.)

Term of this Agreement; Severability. Subject to Section 5.7 and Section 6.4, (i) if no Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the first to occur of the Discharge of the ABL Priority Claims and or the Discharge of the Term Loan Priority Claims and (ii) if an Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and Claims, the Discharge of Term Priority Claims and the payment in full in cash of all ABL Other Claims and Term Loan ClaimsOther Claims (other than, in each case, indemnification and contingent obligations for which no claim has been made). This is a continuing agreement of lien subordination and the First Priority Lenders may continue, at any time and without notice to the Second Priority Agent or any Second Priority Lender, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company Borrower or any other Grantor constituting First Priority Claims in reliance hereon. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

Appears in 1 contract

Samples: Intercreditor Agreement (Revlon Inc /De/)

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Term of this Agreement; Severability. Subject to Section 6.4, (ia) if no Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims and (ii) if an Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims. This is a continuing agreement of lien Lien subordination and the First Priority Lenders Secured Parties may continue, at any time and without notice to the Second Priority Agent or any Second Priority LenderSecured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company Borrower or any other Grantor constituting First Priority Claims in reliance hereon. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. (b) This Agreement shall terminate and be of no further force and effect: (i) with respect to the ABL Agent, the ABL Secured Parties and the ABL Obligations, upon the Discharge of ABL Obligations, subject to the rights of the ABL Secured Parties under Section 6.5; and (ii) with respect to the Term Loan Agent, the Term Loan Secured Parties and the Term Loan Obligations, upon the Discharge of Term Loan Obligations, subject to the rights of the Term Loan Secured Parties under Section 6.5.

Appears in 1 contract

Samples: Intercreditor Agreement (U.S. Well Services, Inc.)

Term of this Agreement; Severability. Subject to Section 6.4, (ia) if no Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims and (ii) if an Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims. This is a continuing agreement of lien Lien subordination and the First Priority Lenders Secured Parties may continue, at any time and without notice to the Second Priority Agent, any Second Priority Secured Party, the Third Priority Agent or any Second Third Priority LenderSecured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company Borrower or any other Grantor constituting First Priority Claims in reliance hereon. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. (b) This Agreement shall terminate and be of no further force and effect: (i) with respect to the ABL Agent, the ABL Secured Parties and the ABL Obligations, upon the Discharge of ABL Obligations, subject to the rights of the ABL Secured Parties under Section 6.5; (ii) with respect to the Term Loan Agent, the Term Loan Secured Parties and the Term Loan Obligations, upon the Discharge of Term Loan Obligations, subject to the rights of the Term Loan Secured Parties under Section 6.5; and (iii) with respect to the Notes Agent, the Notes Secured Parties and the Notes Obligations, upon the Discharge of Notes Obligations, subject to the rights of the Secured Parties under Section 6.5.

Appears in 1 contract

Samples: Intercreditor Agreement (U.S. Well Services, Inc.)

Term of this Agreement; Severability. Subject to Section 6.4, (ia) if no Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims and (ii) if an Event of Default has occurred and is continuing under any Credit Agreement (as such term is defined in the applicable Credit Agreement), this Agreement shall terminate upon the Discharge of ABL Priority Claims and the Discharge of Term Loan Claims. This is a continuing agreement of lien subordination and the First Priority Lenders Secured Parties may continue, at any time and without notice to the Second Priority Agent or any Second Priority LenderSecured Parties, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company Borrower or any other Grantor constituting First Priority Claims Obligations in reliance hereon. Each Second Priority Table of Contents Agent, for itself and on behalf of the Second Priority Secured Parties, hereby waives any right it may have under applicable Law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereofof this Agreement, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. (b) This Agreement shall terminate and be of no further force and effect: (i) with respect to the ABL Agent, the ABL Secured Parties and the ABL Obligations, upon the Discharge of ABL Obligations, subject to the rights of the ABL Secured Parties under Section 6.5; and (ii) with respect to the Term Loan/Notes Agents, the Term Loan/Notes Secured Parties and the Term Loan/Notes Obligations, upon the Discharge of Term Loan/Notes Obligations, subject to the rights of the Term Loan/Notes Secured Parties under Section 6.5.

Appears in 1 contract

Samples: Abl Intercreditor Agreement (Community Health Systems Inc)

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