Common use of Designation of Indebtedness Clause in Contracts

Designation of Indebtedness. For purposes of the Collateral Trust Agreement and the other Loan Documents, each of the parties hereto (w) agrees that all Indebtedness incurred by the Borrowers and their respective Restricted Subsidiaries under this Agreement shall constitute Indebtedness incurred under an Additional Secured Debt Facility (as defined in the Collateral Trust Agreement), (x) agrees that all Secured Obligations (as defined in the U.S. Security Agreement) will be and are secured equally and ratably by all Transaction Liens (as defined in the Collateral Trust Agreement) granted to the Collateral Trustee for the benefit of the Secured Parties (as defined in the Collateral Trust Agreement), at any time granted by any Grantor (as defined in the Collateral Trust Agreement) to secure any Secured Obligations (as defined in the U.S. Security Agreement) whether or not upon property otherwise constituting collateral to such Secured Obligations (as defined in the U.S. Security Agreement) and that all Transaction Liens (as defined in the Collateral Trust Agreement) granted pursuant to the Security Documents (as defined in the Collateral Trust Agreement) will be enforceable by the Collateral Trustee for the benefit of all holders of Secured Obligations (as defined in the U.S. Security Agreement) equally and ratably as contemplated by the Collateral Trust Agreement, (y) agrees that the holders of Secured Obligations (as defined in the U.S. Security Agreement) in respect of such Additional Secured Debt Facility (as defined in the Collateral Trust Agreement) shall be bound by the provisions of, and agree to the terms of, the ABL Intercreditor Agreement and the Collateral Trust Agreement, including the provisions relating to the ranking of Transaction Liens (as defined in the Collateral Trust Agreement) and the order of application of proceeds from the enforcement of Transaction Liens (as defined in the Collateral Trust Agreement) and (z) consents to and directs the Collateral Trustee to perform its obligations under the Collateral Trust Agreement, the ABL Intercreditor Agreement and the other Security Documents (as defined in the Collateral Trust Agreement).

Designation of Indebtedness. For purposes of the Collateral Trust Agreement and the other Loan Documents, each of the parties hereto (w) agrees that all Indebtedness incurred by the Borrowers and their respective Restricted Subsidiaries under this Agreement shall constitute Indebtedness incurred under an Additional Secured Debt Facility (as defined in the Collateral Trust Agreement), (x) agrees that all Secured Obligations (as defined in the U.S. Security Agreement) will be and are secured equally and ratably by all Transaction Liens (as defined in the Collateral Trust Agreement) granted to the Collateral Trustee for the benefit of the Secured Parties (as defined in the Collateral Trust Agreement)Parties, at any time granted by any Grantor (as defined in the Collateral Trust Agreement) to secure any Secured Obligations (as defined in the U.S. Security Agreement) whether or not upon property otherwise constituting collateral to such Secured Obligations (as defined in the U.S. Security Agreement) and that all Transaction Liens (as defined in the Collateral Trust Agreement) granted pursuant to the Security Documents (as defined in the Collateral Trust Agreement) will be enforceable by the Collateral Trustee for the benefit of all holders of Secured Obligations (as defined in the U.S. Security Agreement) equally and ratably as contemplated by the Collateral Trust Agreement, (y) agrees that the holders of Secured Obligations (as defined in the U.S. Security Agreement) in respect of such Additional Secured Debt Facility (as defined in the Collateral Trust Agreement) shall be bound by the provisions of, and agree to the terms of, the ABL Intercreditor Agreement and the Collateral Trust Agreement, including the provisions relating to the ranking of Transaction Liens (as defined in the Collateral Trust Agreement) and the order of application of proceeds from the enforcement of Transaction Liens (as defined in the Collateral Trust Agreement) and (z) consents to and directs the Collateral Trustee to perform its obligations under the Collateral Trust Agreement, the ABL Intercreditor Agreement and the other Security Documents (as defined in the Collateral Trust Agreement).