Common use of THE INTERCREDITOR AGREEMENT GOVERNS Clause in Contracts

THE INTERCREDITOR AGREEMENT GOVERNS. Each Person that is secured hereunder, by accepting the benefits of the security provided hereby, (i) agrees (or is deemed to agree) that it will be bound by, and will take no actions contrary to, the provisions of the Intercreditor Agreement, if then in effect, (ii) authorizes (or is deemed to authorize) the Collateral Agent on behalf of such Person to enter into, and perform under, the Intercreditor Agreement, if then in effect, and (iii) acknowledges (or is deemed to acknowledge) that a copy of the Intercreditor Agreement, if then in effect, was delivered, or made available, to such Person. Notwithstanding any other provision contained herein, the priority of the Liens created hereby and the exercise of the rights, remedies, duties and obligations provided for herein are subject in all respects to the provisions of the Intercreditor Agreement, if then in effect, and, to the extent provided therein, the applicable collateral documents referenced therein. Notwithstanding anything contrary contained herein, in the event of any conflict or inconsistency between this Security Agreement and the Indenture or the Intercreditor Agreement with respect to the priority of any liens or security interests granted hereunder or the exercise of any rights or remedies by the Collateral Agent, the terms of the Indenture and/or the Intercreditor Agreement shall govern and control (except that, in the case of any conflict between the Indenture and the Intercreditor Agreement, such Intercreditor Agreement shall control with respect to the priority of any liens or security interests granted hereunder or the exercise of any rights or remedies by the Collateral Agent).

THE INTERCREDITOR AGREEMENT GOVERNS. Each Person that is secured hereunder, by accepting the benefits of the security provided hereby, (i) agrees (or is deemed to agree) that it will be bound by, and will take no actions contrary to, the provisions of the Intercreditor Agreement, if then in effect, (ii) authorizes (or is deemed to authorize) the Collateral Agent on behalf of such Person to enter into, and perform under, the Intercreditor Agreement, if then in effect, and (iii) acknowledges (or is deemed to acknowledge) that a copy of the Intercreditor Agreement, if then in effect, was delivered, or made available, to such Person. Notwithstanding any other provision contained herein, the priority of the Liens created hereby and the exercise of the rights, remedies, duties and obligations provided for herein are subject in all respects to the provisions of the Intercreditor Agreement, if then in effect, and, to the extent provided therein, the applicable collateral documents referenced therein. Notwithstanding anything contrary contained herein, in the event of any conflict or conflictor inconsistency between this Security Agreement and the Indenture or the Intercreditor Agreement IntercreditorAgreement with respect to the priority of any liens or security interests granted hereunder or the exercise of any rights or remedies by the Collateral Agent, the terms of the Indenture and/or the Intercreditor Agreement shall govern and control (except that, in the case of any conflict between the Indenture and the Intercreditor Agreement, such Intercreditor Agreement shall control with respect to the priority of any liens or security interests granted hereunder or the exercise of any rights or remedies by the Collateral Agent).