Examples of Second Lien Collateral Trust Agreement in a sentence
Each of the Priority Lien Agent, the Second Lien Collateral Trustee and the Third Lien Collateral Trustee represents and warrants to the other parties hereto that it is authorized under the Priority Credit Agreement, the Second Lien Collateral Trust Agreement and the Third Lien Collateral Trust Agreement, as the case may be, to enter into this Agreement.
In entering into this Agreement, or in taking (or forbearing from) any action under or pursuant to the Agreement, the Second Lien Collateral Trustee shall have and be protected by all of the rights, immunities, indemnities and other protections granted to it under the Second Lien Indenture and the other Second Lien Documents (including without limitation Article 5 and Section 7.8 of the Second Lien Collateral Trust Agreement).
By its acceptance of the Notes, each holder is deemed to authorize and direct the Priority Collateral Trustee to enter into and perform under the Second Lien Collateral Trust Agreement in the capacity as “Junior Lien Representative” thereunder.
Upon the Discharge of the First Lien Obligations, any First Lien Claimholder Representative shall deliver to the Second Lien Collateral Trustee any proceeds of Common Collateral held by it in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct to be applied by the Second Lien Collateral Trustee to the Second Lien Obligations in such order as specified in the Second Lien Collateral Trust Agreement.
Such Liens shall survive the satisfaction and discharge of this Indenture, the termination of the Second Lien Collateral Trust Agreement, any termination or rejection of this Indenture or the Second Lien Collateral Trust Agreement under any Bankruptcy Law and resignation or removal of the Trustee or the Second Lien Collateral Trustee.
In entering into this Agreement, or in taking (or forbearing from) any action under or pursuant to the Agreement, the Second Lien Collateral Trustee shall have and be protected by all of the rights, immunities, indemnities and other protections granted to it under the Term Loan Credit Agreement and the other Second Lien Documents (including without limitation Article 5 and Section 7.8 of the Second Lien Collateral Trust Agreement).
In the event of any conflict between the terms of the Second Lien Collateral Trust Agreement, the First Lien/Second Lien Intercreditor Agreement or any such Approved Intercreditor Agreement and the terms of this Indenture or any Security Document, the terms of the Second Lien Collateral Trust Agreement, the First Lien/Second Lien Intercreditor Agreement and any such applicable Approved Intercreditor Agreement shall govern and control.
The Second Lien Collateral Trustee is executing and delivering this Agreement solely in its capacity as such and pursuant to direction set forth in the Second Lien Collateral Trust Agreement; and in so doing, the Second Lien Collateral Trustee shall not be responsible for the terms or sufficiency of this Agreement for any purpose.
A resignation or removal of the Second Lien Collateral Trustee and appointment of a successor Second Lien Collateral Trustee shall become effective only in accordance with the Second Lien Collateral Trust Agreement.
Xxxxxxxx, Xxxxxxxxx 00000 10 (1%) THIS FIRST AMENDMENT (“Amendment”) is entered into to be effective as of October 31, 2011 by and among Triad of Oregon, LLC, a Delaware limited liability company, and Triad Holdings V, LLC, a Delaware limited liability company (the “Members”).