Common Contracts
1 similar Priority Intercreditor Agreement contracts
Relevant Provisions of the First Priority Intercreditor AgreementPriority Intercreditor Agreement • October 12th, 2020
Series of Pari Passu Secured Parties upon the assets of such Grantor constituting Shared Collateral will automatically be released and discharged; provided that (A) the Liens in favor of the Collateral Agent for the benefit of each related Series of Pari Passu Secured Parties secured by such Shared Collateral attach to any such Proceeds of such sale or disposition w ith the same priority vis-à-vis all the other Pari Passu Secured Parties as existed prior to the commencement of such sale or other disposition, and any such Liens shall remain subject to the terms of this Agreement until application thereof pursuant to Section 2.01 and (B) any proceeds of any Shar ed Collateral realized therefrom shall be applied pursuant to Section 2.01.
