Examples of Initial Second Lien Collateral Agent in a sentence
Upon the Initial Second Lien Collateral Agent so becoming a party hereto in accordance with the terms thereof, all Initial Second Lien Obligations shall be entitled to be so secured by a subordinated Lien on the Collateral in accordance with the terms hereof and thereof.
Notwithstanding the foregoing, without the consent of any First Lien Claimholder or Second Lien Claimholder, the Initial Second Lien Collateral Agent may become a party hereto by execution and delivery of a Joinder Agreement in accordance with Section 8.20 and upon such execution and delivery, the Initial Second Lien Collateral Agent and the Initial Second Lien Claimholders and Initial Second Lien Obligations shall be subject to the terms hereof.
Section 8.20 of the Intercreditor Agreement provides that the Initial Second Lien Collateral Agent may become a Second Lien Collateral Agent under, and the Initial Second Lien Claimholders may become subject to and bound by, the Intercreditor Agreement pursuant to the execution and delivery by the Initial Second Lien Collateral Agent of an instrument in the form of this Joinder Agreement and the satisfaction of the other conditions set forth in Section 8.20 of the Intercreditor Agreement.
The Initial Second Lien Obligations may be secured by a junior-priority, subordinated Lien on the Collateral, in each case under and pursuant to the relevant Second Lien Collateral Documents if and subject to the condition, the Initial Second Lien Collateral Agent becomes a party to this Agreement by satisfying the conditions set forth in clauses (1) and (2) of Section 8.20(b).
The undersigned Initial Second Lien Collateral Agent (the “New Collateral Agent”) is executing this Joinder Agreement in accordance with the requirements of the Intercreditor Agreement.