Tracing of and Priorities in Proceeds. (a) The ABL Agent, for itself and on behalf of the ABL Secured Parties, and each Term Agent, for itself and on behalf of the applicable Term Secured Parties, agree that prior to an issuance of any Enforcement Notice by such Secured Party, any Proceeds of Collateral, whether or not deposited under control agreements, which are used by any Loan Party to acquire other property which is Collateral shall not (solely as between the Agents and the Lenders) be treated as Proceeds of Collateral for purposes of determining the relative priorities in the Collateral which was so acquired.
Appears in 4 contracts
Samples: Loan Agreement (Horizon Global Corp), Intercreditor Agreement (Horizon Global Corp), Credit Agreement (Horizon Global Corp)
