Effectiveness of Lien Priorities. The priorities of the Liens provided in Section 2.1(a) shall not be altered or otherwise affected by any amendment, modification, supplement, extension, renewal, restatement, replacement or refinancing of the Term Obligations, nor by any action or inaction which the Term Representatives or the Term Secured Parties may take or fail to take in respect of the Term Priority Collateral, so long as the Liens of the Term Representatives and the Term Secured Parties in the Term Priority Collateral are valid, perfected and enforceable.
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Sources: Term Loan Credit Agreement (Arc Document Solutions, Inc.), Intercreditor Agreement (EveryWare Global, Inc.)
Effectiveness of Lien Priorities. The priorities of the Liens provided in Section 2.1(a) shall not be altered or otherwise affected by any amendment, modification, supplement, extension, renewal, restatement, replacement or refinancing of the Term Obligations, nor by any action or inaction which the Term Representatives Agent or the Term Secured Parties Lenders may take or fail to take in respect of the Term Priority Collateral, so long as the Liens of the Term Representatives Agent and the Term Secured Parties Lenders in the Term Priority Collateral are valid, perfected and enforceable.
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