Common use of Continuing Nature of this Agreement; Severability Clause in Contracts

Continuing Nature of this Agreement; Severability. This Agreement shall continue to be effective until the Discharge of INMETCO Facility Claims or the Discharge of Indenture Obligations shall have occurred. This is a continuing agreement of lien subordination and (a) the INMETCO Facility Lenders may continue, at any time and without notice to the Collateral Agent, the Trustee or any other Indenture Holder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor constituting INMETCO Facility Claims on reliance hereof and (b) the Indenture Holders may continue, at any time and without notice to the INMETCO Agent or any INMETCO Facility Lender, to extend credit and other financial accommodations to or for the benefit of the Issuer or any other Grantor constituting Indenture Obligations (including by means of purchasing any Notes issued by the Issuer) on reliance hereof. Each of the Collateral Agent, on behalf of itself, the Trustee and the other Indenture Holders, and the INMETCO Agent, on behalf of itself and the INMETCO Facility Lenders, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

Continuing Nature of this Agreement; Severability. This Agreement shall continue to be effective until the earlier to occur of Discharge of INMETCO Facility Claims Revolving Loan Obligations or the Discharge of Indenture Obligations shall have occurredthe Term Loan Obligations. This is a continuing agreement of lien subordination and (a) the INMETCO Facility Lenders Revolving Credit Secured Parties may to the extent provided in the Revolving Credit Documents continue, at any time and without notice to the Collateral Agent, the Trustee Term Loan Agent or any other Indenture HolderTerm Loan Secured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor constituting INMETCO Facility Claims on reliance hereof and (b) the Indenture Holders may continue, at any time and without notice to the INMETCO Agent or any INMETCO Facility Lender, to extend credit and other financial accommodations to or for the benefit of the Issuer or any other Grantor constituting Indenture Revolving Loan Obligations (including by means of purchasing any Notes issued by the Issuer) on in reliance hereof. Each of the Collateral Agent, for itself and on behalf of itself, the Trustee and the other Indenture Holders, and the INMETCO Agent, Secured Parties on whose behalf of itself and the INMETCO Facility Lendersit acts, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. For purposes of this Section 10.2 only, the terms “Discharge of Revolving Loan Obligations” and “Discharge of Term Loan Obligations” shall including in each case, the payment in full in cash or other immediately available funds of the amount of the Revolving Loan Obligations in excess of the Maximum Priority Revolving Loan Debt Amount and the Maximum Priority Term Loan Debt Amount.