Common Contracts
1 similar Second Lien Intercreditor Agreement contracts
Relevant Provisions of the 1L-2L Intercreditor AgreementSecond Lien Intercreditor Agreement • October 12th, 2020
the right to purchase the First Lien Obligations shall be exercised pursuant to documentation mutually acceptable to the First Lien Collateral Agent, each First Lien Representative, the Second Lien Collateral Agent and each Second Lien Representative. If the Second Lien Claimholders reject such offer (or fail to accept such offer within the required time frame), the First Lien Claimholders shall have no further obligations pursuant to this Section 5.7 and may take any further actions in their sole discretion in accordance with the First Lien Documents and this Agreement. Each First Lien Claimholder will retain all rights to indemnification and expense reimbursement provided in the relevant First Lien Documents for all claims and other amounts relating to periods prior to the purchase of the First Lien Obligations pursuant to this Section 5.7. Upon the consummation of the purchase and sale of the First Lien Obligations, the First Lien Collateral Agent shall, at the request of the Second
