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 ABL Obligations that is intended to be secured by the ABL Priority Collateral on a first-priority basis, then a Discharge of ABL Obligations shall be deemed not to have occurred for all purposes of this Agreement, and the obligations under such Refinancing of such ABL Obligations shall be treated as ABL Obligations for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Collateral set forth herein, and ABL Agent under the ABL Loan Documents effecting such Refinancing shall be ABL Agent for all purposes of this Agreement. ABL Agent under such ABL Loan Documents shall agree (in a writing addressed to Notes Agent for the benefit of itself and the other Notes Claimholders) to be bound by the terms of this Agreement.

When Discharge of Obligations Deemed to Not Have Occurred. (a) If the Grantors ABL Borrowers, or any of them, enter into any Refinancing refinancing of the ABL Obligations that is intended to be secured by the ABL Priority Collateral on a first-priority basis, then a Discharge of ABL Obligations shall be deemed not to have occurred for all purposes of this Agreement, and the obligations under such Refinancing refinancing of such ABL Obligations shall be treated as ABL Obligations for all purposes of this Agreement, including for purposes of the Lien priorities Priorities and rights in respect of Collateral set forth herein, and the ABL Agent under the ABL Loan Documents effecting such Refinancing refinancing shall be the ABL Agent for all purposes of this Agreement. The ABL Agent under such ABL Loan Documents shall agree (in a writing addressed to Notes Agent for the benefit of itself and the other Notes ClaimholdersTerm Loan Agent) to be bound by the terms of this Agreement.