Examples of ABL Canadian Collateral in a sentence
The ABL Canadian Collateral shall be applied to the payment of the ABL Obligations secured thereby in accordance with the ABL Documents until the Discharge of ABL Obligations (to the extent secured thereby) shall have occurred.
Except to the extent expressly set forth in this Agreement, the Term Agent, for itself and on behalf of the Term Lenders, hereby waives any and all rights it or the Term Lenders may have as a junior lien creditor or otherwise to contest, protest, object to, or interfere with the manner in which the ABL Agent or any ABL Lender seeks to enforce its Liens in any ABL Priority Collateral (including the ABL Canadian Collateral).
Upon the Discharge of ABL Obligations, the ABL Agent shall deliver to the Term Agent or shall execute such documents as the Term Agent may reasonably request to enable the Term Agent to have control over any Cash Collateral or Control Collateral (other than such Collateral relating to the ABL Canadian Collateral) still in the ABL Agent’s possession, custody, or control in the same form as received with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct.
Upon the Discharge of ABL Obligations, the ABL Agent shall deliver to the Term Agent or any Additional Agent or shall execute such documents as such Party may reasonably request to enable such Party to have control over any Cash Collateral or Control Collateral (other than such Collateral relating to the ABL Canadian Collateral) still in the ABL Agent’s possession, custody, or control in the same form as received with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct.
All proceeds of such insurance shall be remitted to the Secured Party Representative, and each Secured Party Agent shall cooperate (if necessary) in a reasonable manner in effecting the payment of insurance proceeds (other than insurance proceeds relating to ABL Canadian Collateral) in accordance with Section 4.1 hereof.
The ABL Canadian Collateral shall be applied to the payment of the ABL Obligations in accordance with the terms of the ABL Documents until the Discharge of ABL Obligations (to the extent secured thereby) shall have occurred.
Notwithstanding anything to the contrary herein, the provisions of this Section 2.5 shall not apply with respect to (x) any ABL Canadian Collateral or (y) any guarantees, grants or pledges by Holdings (as defined in the ABL Credit Agreement) or by any other direct or indirect parent of the Company, in each case in respect of any Senior Priority Obligations.
The Term Agent agrees, on behalf of itself and the Term Lenders, that it will not oppose any sale consented to by the ABL Agent of any ABL Priority Collateral (including the ABL Canadian Collateral) pursuant to Section 363(f) of the Bankruptcy Code (or any similar provision under the law applicable to any Insolvency Proceeding) so long as the proceeds of such sale (other than any sale of ABL Canadian Collateral) are applied in accordance with this Agreement.
Except to the extent expressly set forth in this Agreement, the Term Agent, for itself and on behalf of the Term Lenders, agrees that none of the Term Agent or the Term Lenders will take any action that would interfere with any Exercise of Secured Creditor Remedies undertaken by the ABL Agent or any ABL Lender under the ABL Documents with respect to the ABL Priority Collateral (including the ABL Canadian Collateral).
All proceeds of such insurance shall be remitted to the ABL Agent or the Term Agent, as the case may be, and each of the Term Agent and ABL Agent shall cooperate (if necessary) in a reasonable manner in effecting the payment of insurance proceeds (other than insurance proceeds relating to ABL Canadian Collateral) in accordance with Section 4.1 hereof.