Examples of Senior Lien Lender in a sentence
The Junior Lien Agent, for itself and on behalf of the Junior Lien Secured Parties, hereby waives any and all rights it or the Junior Lien Secured Parties may have as a junior lien creditor or otherwise to contest, protest, object to or interfere with the manner in which the Senior Lien Agent or any Senior Lien Lender seeks to enforce its Liens in any Collateral.
Grantor will at its own expense, and using its best commercially reasonable efforts, protect and defend the Trademarks against all claims or demands of all Persons other than Lender, the Senior Lien Lender and licensees.
Nothing in this Loan Agreement shall preclude the Lender from engaging in repurchase transactions with the Facility Collateral or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating the Facility Collateral (subject to the interest of the relevant Senior Lien Lender).
With respect to Facility Collateral subject to a Senior Lien, either (i) the Lender and the applicable Senior Lien Lender shall have entered into an intercreditor agreement in form and substance satisfactory to Lender in its sole discretion, or (ii) the applicable Loan Parties shall have obtained the necessary waivers, amendments, approvals, and consents to the pledge of the Facility Collateral prior to the Restatement Date.
Grantor will at its own expense, and using its best commercially reasonable efforts, protect and defend the Copyrights against all claims or demands of all Persons other than Lender, the Senior Lien Lender, and licensees.
Each Senior Lien Lender will retain all rights to indemnification provided in the relevant Senior Lien Documents for all claims and other amounts relating to periods prior to the purchase of the Purchase Obligations pursuant to this Article 8 and such rights shall be secured by the Liens securing the Senior Lien Obligations.
If any Senior Lien Lender is required, in any Insolvency Proceeding or otherwise, to turn over or otherwise pay to the estate of any Loan Party any amount (a “Recovery”), then the Senior Lien Obligations shall be reinstated to the extent of such Recovery and the Senior Lien Lenders shall be entitled to the Discharge of Senior Lien Obligations with respect to all such recovered amounts.
Junior Lien Agent, on behalf of itself and the Junior Lien Lenders, acknowledges and agrees that none of Senior Lien Agent or any Senior Lien Lender has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the Senior Lien Indebtedness or any liens or security interests held in connection therewith.
After the occurrence and during the continuance of an Event of Default, Loan Parties shall not, and shall not permit their Subsidiaries to, without the prior consent of Lender, adjust, settle or compromise the amount or payment of any Account, or release wholly or partly any customer or obligor thereof, or allow any credit or discount thereon, except to the extent authorized by the Senior Lien Financing Agreement or by the Senior Lien Lender.
Each Loan Party shall do all things necessary to preserve the Facility Collateral so that the Facility Collateral remains subject to a first priority perfected security interest hereunder; provided, however, with respect to the Facility Collateral that is subject to a Lien in favor of a Senior Lien Lender, each Loan Party shall do all things necessary to preserve the Facility Collateral so that the Facility Collateral remains subject to a junior Lien hereunder.