Common use of When Discharge of Obligations Deemed to Not Have Occurred Clause in Contracts

When Discharge of Obligations Deemed to Not Have Occurred. (a) If the Grantors enter into any Refinancing of the Revolving Obligations with Indebtedness permitted under the Term Documents that is intended to be (and under the Term Documents is permitted to be) secured by the Revolving Priority Collateral on a basis that is senior to the Term Liens thereon and by the Term Priority Collateral on a basis that is junior to the Term Liens thereon, then a Discharge of Revolving Obligations shall be deemed not to have occurred for all purposes of this Agreement, and the Refinancing Indebtedness in respect of such Revolving Obligations shall be treated as Revolving Obligations for all purposes of this Agreement, including for purposes of the relative Lien priorities and rights in respect of Collateral set forth herein, and the collateral agent (or similar representative) in respect of the obligations under such Refinancing shall be the Revolving Collateral Agent for all purposes of this Agreement; provided, however, that the holders of such Refinancing Indebtedness, and the collateral agent (or similar representative) of such holders, bind themselves to the terms of this Agreement pursuant to an amendment effected in accordance with Section 9.3.

When Discharge of Obligations Deemed to Not Have Occurred. (a) If the Grantors enter into any Refinancing of the Revolving ABL Obligations with Indebtedness permitted under the Term Loan Documents that is intended to be (and under the Term Loan Documents is permitted to be) secured by the Revolving ABL Priority Collateral on a basis that is senior to the Term Liens thereon and by the Term Priority Collateral on a basis that is junior to the Term Liens thereon, then a Discharge of Revolving ABL Obligations shall be deemed not to have occurred for all purposes of this Agreement, and the Refinancing Indebtedness in respect of such Revolving ABL Obligations shall be treated as Revolving ABL Obligations for all purposes of this Agreement, including for purposes of the relative Lien priorities and rights in respect of Collateral set forth herein, and the collateral agent (or similar representative) in respect of the obligations under such Refinancing shall be the Revolving ABL Collateral Agent for all purposes of this Agreement; provided, however, that the holders of such Refinancing Indebtedness, and the collateral agent (or similar representative) of such holders, bind themselves to the terms of this Agreement pursuant to an amendment effected in accordance with Section 9.3.

When Discharge of Obligations Deemed to Not Have Occurred. (a) If the Grantors enter into any Refinancing of the Revolving Obligations with Indebtedness permitted under the Term Fixed Asset Documents that is intended to be (and under the Term Fixed Asset Documents is permitted to be) secured by the Revolving Priority Collateral on a basis that is senior to the Term Fixed Asset Liens thereon and by the Term Fixed Asset Priority Collateral on a basis that is junior to the Term Fixed Asset Liens thereon, then a Discharge of Revolving Obligations shall be deemed not to have occurred for all purposes of this Agreement, and the Refinancing Indebtedness in respect of such Revolving Obligations shall be treated as Revolving Obligations for all purposes of this Agreement, including for purposes of the relative Lien priorities and rights in respect of Collateral set forth herein, and the collateral agent (or similar representative) in respect of the obligations under such Refinancing shall be the Revolving Collateral Administrative Agent for all purposes of this Agreement; provided, however, that the holders of such Refinancing Indebtedness, and the collateral agent (or similar representative) of such holders, bind themselves to the terms of this Agreement pursuant to an amendment effected in accordance with Section 9.3.

When Discharge of Obligations Deemed to Not Have Occurred. (a) If the Grantors ABL Revolving Borrowers (or any of them) enter into any Refinancing of the ABL Revolving Obligations with Indebtedness permitted under the Term Documents that is intended to be (and under the Term Documents is permitted to be) secured by the ABL Revolving Priority Collateral on a basis that is senior to the Term Liens thereon and by the Term Priority Collateral on a basis that is junior to the Term Liens thereonfirst priority basis, then a Discharge of ABL Revolving Obligations shall be deemed not to have occurred oc- curred for all purposes of this Agreement, and the obligations under such Refinancing Indebtedness in respect of such Revolving ABL Re- volving Obligations shall be treated as ABL Revolving Obligations for all purposes of this Agreement, including for purposes of the relative Lien priorities and rights in respect of Collateral set forth herein, and the collateral agent (or similar representative) in respect of ABL Revolving Collateral Agent under the obligations under ABL Revolving Loan Documents effecting such Refinancing shall be the ABL Revolving Collateral Agent for all purposes of this Agreement; provided, however, that . The ABL Revolving Collateral Agent under such ABL Revolving Loan Documents shall agree (in a writing addressed to the holders of such Refinancing Indebtedness, and the collateral agent (or similar representativeTerm Agents) of such holders, bind themselves to be bound by the terms of this Agreement pursuant to an amendment effected in accordance with Section 9.3Agreement.

When Discharge of Obligations Deemed to Not Have Occurred. Notwithstanding anything to the contrary herein, if substantially concurrently with a Discharge of Obligations, any Grantor enters into any Permitted Refinancing of any Obligations pursuant to a new Debt Document in accordance with Section 7.08, then (a) If the Grantors enter into any Refinancing of the Revolving Obligations with Indebtedness permitted under the Term Documents that is intended to be (and under the Term Documents is permitted to be) secured by the Revolving Priority Collateral on a basis that is senior to the Term Liens thereon and by the Term Priority Collateral on a basis that is junior to the Term Liens thereon, then a such Discharge of Revolving Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement, and the obligations under such Permitted Refinancing Indebtedness in respect of such Revolving Obligations shall automatically be treated as Revolving Obligations for all purposes of this Agreement, including for purposes of the relative Lien priorities and rights in respect of Collateral set forth herein, (b) the term “Debt Document” shall be deemed appropriately modified to refer to such Permitted Refinancing and the collateral agent (or similar representative) in respect of the obligations Representative under such Refinancing Debt Documents (who shall be the Revolving Collateral Agent Representative for all purposes of the Permitted Refinancing if the Permitted Refinancing is pursuant to a replacement Debt Document), and the new Secured Parties under such Debt Documents shall automatically be treated as Secured Parties for all purposes of this Agreement; provided, however, that the holders of such Refinancing Indebtedness, and the collateral agent (or similar representative) of such holders, bind themselves to the terms of this Agreement pursuant to an amendment effected in accordance with Section 9.3.