Examples of Revolving Collateral in a sentence
Except as expressly permitted under the Indenture, no Assets (other than any Delayed Drawdown Collateral Obligations or Revolving Collateral Obligations) shall be purchased if such Assets may give rise to any obligation or liability on the Issuer’s part to the Obligor or issuer thereof to take any action or make any payment other than at the Issuer’s option.
The ABL Revolving Collateral Agent and each Term Agent each represents and warrants to the other that it has been authorized by ABL Re- volving Lenders, lenders under the First Lien Credit Facility or holders of Notes, as applicable, under the ABL Revolving Credit Agreement, the Indenture or the First Lien Credit Facility, as applicable, to enter into this Agreement.
Consistent with, but not in limitation of, the preceding sen- tence, the ABL Revolving Collateral Agent and each Term Agent, on behalf of the applicable Claimhold- ers, irrevocably acknowledges that this Agreement constitutes a “subordination agreement” within the meaning of both New York law and Section 510(a) of the Bankruptcy Code.
The Revolving Collateral Agent and Revolving Claimholders shall have no duty to advise the Notes Collateral Agent and Notes Claimholders of information known to it or them regarding such condition or any such circumstances or otherwise.
Without limiting the generality of the foregoing or of the other provisions of this Agreement, in seeking specific performance in any Insolvency Proceeding, the Revolving Collateral Agent or the Notes Collateral Agent may seek such or any other relief as if it were the “holder” of the claims of the other agent’s Claimholders under Section 1126(a) of the Bankruptcy Code or otherwise had been granted an irrevocable power of attorney by the other agent’s Claimholders.