Common use of Collateral and Collateral Documents Clause in Contracts

Collateral and Collateral Documents. (a) In order to secure the due and punctual payment of the Notes, the Company and the Subsidiary Guarantors have entered into the Collateral Documents to create the Note Liens on the Collateral in accordance with the terms thereof. Pursuant to the provisions of the Collateral Documents and this Indenture, the rights and remedies of the Trustee and the Holders of the Notes in the Collateral shall be subordinate and subject to the rights and remedies of the holders of the Priority Liens in accordance with the terms of the Collateral Documents. In the event of a conflict between the terms of this Indenture and the Collateral Documents, the Collateral Documents shall control. (b) Each Holder of a Note, by accepting such Note, agrees to all of the terms and provisions of the Collateral Documents. (c) Each of the Company and the Subsidiary Guarantors shall not, and shall not cause or permit any of its Domestic Restricted Subsidiaries to, ▇▇▇▇▇ ▇ ▇▇▇▇ on any of its Collateral to the Collateral Agent under the Collateral Documents for the benefit of the Lenders under the Credit Agreement unless a Note Lien is created in favor of the Collateral Agent for the benefit of the Trustee (on behalf of the Trustee and the Holders of the Notes) with respect to such property or assets.