Common use of Impairment of Security Interest Clause in Contracts

Impairment of Security Interest. (a) Holdings and the Issuer shall not, and shall not permit any Restricted Subsidiary to, take or knowingly or negligently omit to take, any action which action or omission might reasonably or would (in the good faith determination of the Issuer) have the result of materially impairing the effectiveness of the security interests, taken as a whole, including the lien priority with respect thereto, with respect to the Collateral for the benefit of the Collateral Agent and the Holders, including materially impairing the lien priority of the Notes with respect thereto (it being understood that any release under Section 12.6 and the incurrence of Permitted Liens shall not be deemed to so materially impair the security interests with respect to the Collateral). (b) At the direction of the Issuer and without the consent of the Holders, the Collateral Agent or its agent or designee shall from time to time enter into one or more amendments, extensions, renewals, restatements, supplements or other modifications or replacements to or of the Notes Collateral Documents to: (i) cure any ambiguity, omission, defect or inconsistency therein that does not materially adversely affect the interests of the Holders, (ii) provide for Permitted Liens or Liens otherwise permitted under Section 3.6, (iii) add to the Collateral or (iv) make any other change thereto that does not adversely affect the Holders in any material respect.

Impairment of Security Interest. (a) Holdings and the Issuer shall not, and shall not permit any Restricted Subsidiary to, take or knowingly or negligently omit to take, any action which action or omission might reasonably or would (in the good faith determination of the Issuer) have the result of materially impairing the effectiveness of the security interests, taken as a whole, including the lien priority with respect thereto, with respect to the Collateral for the benefit of the Collateral Agent and the Holders, including materially impairing the lien priority of the Notes with respect thereto (it being understood understood, however, that any release under Section 12.6 and the incurrence of Permitted Liens shall not be deemed to so materially impair the security interests with respect to the Collateral). (b) At the direction of the Issuer and without the consent of the Holders, the Collateral Agent or its agent or designee shall from time to time enter into one or more amendments, extensions, renewals, restatements, supplements or other modifications or replacements to or of the Notes Collateral Documents to: (i) cure any ambiguity, omission, defect or inconsistency therein that does not materially adversely affect the interests of the Holders, (ii) provide for Permitted Liens or Liens otherwise permitted under Section 3.6, (iii) add to the Collateral or (iv) make any other change thereto that does not adversely affect the Holders in any material respect.

Impairment of Security Interest. (a) Holdings and the Issuer shall not, and shall not permit any Restricted Subsidiary to, take or knowingly or negligently omit to take, any action which action or omission might reasonably or would (in the good faith determination of the Issuer) have the result of materially impairing the effectiveness of the security interests, taken as a whole, including the lien priority with respect thereto, with respect to the Collateral for the benefit of the Junior-Priority Collateral Agent and the Holders, including materially impairing the lien priority of the Notes with respect thereto (it being understood that any release under Section 12.6 and the incurrence of Permitted Liens shall not be deemed to so materially impair the security interests with respect to the Collateral). (b) At the direction of the Issuer and without the consent of the Holders, the Junior-Priority Collateral Agent or its agent or designee shall from time to time enter into one or more amendments, extensions, renewals, restatements, supplements or other modifications or replacements to or of the Notes Collateral Documents to: (i) cure any ambiguity, omission, defect or inconsistency therein that does not materially adversely affect the interests of the Holders, (ii) provide for Permitted Liens or Liens otherwise permitted under Section 3.6, (iii) add to the Collateral or (iv) make any other change thereto that does not adversely affect the Holders in any material respect.

Impairment of Security Interest. (a) Holdings and the The Issuer shall not, and shall not permit any Restricted Subsidiary to, take or knowingly or negligently omit to take, any action which action or omission might reasonably or would (in the good faith determination of the Issuer) ), have the result of materially impairing the effectiveness value of the security interests, interests taken as a whole, whole (including the lien priority with respect thereto, ) with respect to the Collateral for the benefit of the Notes Collateral Agent and the Holders, Holders (including materially impairing the lien priority of the Notes with respect thereto thereto) (it being understood that any release described under Section 12.6 11.6 and the incurrence of Permitted Liens shall not be deemed to so materially impair the security interests with respect to the Collateral). (b) At the written direction of the Issuer and without the consent of the Holders, the Notes Collateral Agent (or its agent or designee designee) shall from time to time enter into one or more amendments, extensions, renewals, restatements, supplements or other modifications or replacements to or of the Notes Collateral Security Documents to, but subject in all cases to the Intercreditor Agreements: (i) cure any ambiguity, omission, defect or inconsistency therein that does not materially adversely affect the interests of the HoldersHolders in any material respect, (ii) provide for Permitted Liens or Liens otherwise permitted under Section 3.6, (iii) add to the Collateral or (iviii) make any other change thereto that does not adversely affect the Holders in any material respect.

Impairment of Security Interest. (a) Holdings and the Issuer shall not, and shall not permit any Restricted Subsidiary to, take or knowingly or negligently omit to take, any action which action or omission might reasonably or would (in the good faith determination of the Issuer) have the result of materially impairing the effectiveness of the security interests, taken as a whole, including the lien priority with respect thereto, with respect to the Collateral for the benefit of the Collateral Agent and the Holders, including materially impairing the lien priority of the Notes with respect thereto (it being understood that any release under pursuant to Section 12.6 and the incurrence of Permitted Liens shall not be deemed to so materially impair the security interests with respect to the Collateral). (b) At the direction of the Issuer and without the consent of the Holders, the Collateral Agent or its agent or designee shall from time to time enter into one or more amendments, extensions, renewals, restatements, supplements or other modifications or replacements to or of the Notes Collateral Documents to: (i) cure any ambiguity, omission, defect or inconsistency therein that does not materially adversely affect the interests of the Holders, (ii) provide for Permitted Liens or Liens otherwise permitted under Section 3.6, (iii) add to the Collateral or (iv) make any other change thereto that does not adversely affect the Holders in any material respect.

Impairment of Security Interest. (a) Holdings and the Issuer shall not, and shall not permit any Restricted Subsidiary to, take or knowingly or negligently omit to take, any action which action or omission might reasonably or would (in the good faith determination of the Issuer) have the result of materially impairing the effectiveness of the security interests, taken as a whole, including the lien priority with respect thereto, with respect to the Collateral for the benefit of the Junior-Priority Collateral Agent and the Holders, including materially impairing the lien priority of the Notes with respect thereto (it being understood understood, however, that any release under Section 12.6 and the incurrence of Permitted Liens shall not be deemed to so materially impair the security interests with respect to the Collateral). (b) At the direction of the Issuer and without the consent of the Holders, the Junior-Priority Collateral Agent or its agent or designee shall from time to time enter into one or more amendments, extensions, renewals, restatements, supplements or other modifications or replacements to or of the Notes Collateral Documents to: (i) cure any ambiguity, omission, defect or inconsistency therein that does not materially adversely affect the interests of the Holders, (ii) provide for Permitted Liens or Liens otherwise permitted under Section 3.6, (iii) add to the Collateral or (iv) make any other change thereto that does not adversely affect the Holders in any material respect.

Impairment of Security Interest. ‌ (a) Holdings The Issuer shall not, and shall procure that the Parent Trust does not, take or omit to take any action that would have the result of materially impairing the security interest with respect to the Collateral (it being understood that the Incurrence of Permitted Collateral Liens in accordance with the provisions of this Indenture, the Intercreditor Agreement or any Additional Intercreditor Agreement shall under no circumstances be deemed to materially impair the security interest with respect to the Collateral) for the benefit of the Trustee and the Holders, and the Issuer shall not, and shall not permit procure that the Parent Trust does not, grant to any Restricted Subsidiary toPerson other than the Security Agent, take or knowingly or negligently omit to take, any action which action or omission might reasonably or would (in the good faith determination of the Issuer) have the result of materially impairing the effectiveness of the security interests, taken as a whole, including the lien priority with respect thereto, with respect to the Collateral for the benefit of the Collateral Agent Trustee and the HoldersHolders and the other beneficiaries described in the Security Documents, including materially impairing the lien priority any Lien over any of the Notes with respect thereto (it being understood Collateral that any release under is prohibited by Section 12.6 and the incurrence of Permitted Liens shall not be deemed to so materially impair the security interests with respect to the Collateral).4.09.‌ (b) At Notwithstanding Section 4.10(a), nothing in this Section 4.10 shall restrict the direction discharge and release of the Issuer and without the consent of the Holdersany Lien in accordance with this Indenture, the Collateral Agent Intercreditor Agreement or its agent any Additional Intercreditor Agreement. Subject to the foregoing, the Security Documents may be amended, extended, renewed, restated, supplemented or designee shall from time to time enter into one otherwise modified or more amendments, extensions, renewals, restatements, supplements or other modifications or replacements to or released (followed by a substantially concurrent retaking of a Lien of at least equivalent ranking over the Notes Collateral Documents same assets) to: : (i1) cure any ambiguity, omission, defect or inconsistency therein that does not materially adversely affect the interests of the Holders, therein; (ii2) provide for Permitted Liens or Liens otherwise permitted under Section 3.6, Collateral Liens; (iii3) add to the Collateral or Collateral; or (iv4) make any other change thereto that does not adversely affect the Holders in any material respect.;

Impairment of Security Interest. (a) Holdings and the The Issuer shall not, and shall not permit any Restricted Subsidiary to, take or knowingly or negligently omit to take, any action which action or omission might reasonably or would (in the good faith determination of the Issuer) ), have the result of materially impairing the effectiveness value of the security interests, interests taken as a whole, whole (including the lien priority with respect thereto, ) with respect to the Collateral for the benefit of the Notes Collateral Agent and the Holders, Holders (including materially impairing the lien priority of the Notes with respect thereto thereto) (it being understood that any release described under Section 12.6 11.6 and the incurrence of Permitted Liens shall not be deemed to so materially impair the security interests with respect to the Collateral). (b) At the direction of the Issuer and without the consent of the Holders, the Notes Collateral Agent (or its agent or designee designee) shall from time to time enter into one or more amendments, extensions, renewals, restatements, supplements or other modifications or replacements to or of the Notes Collateral Security Documents to, but subject in all cases to the Intercreditor Agreements: (i) cure any ambiguity, omission, defect or inconsistency therein that does not materially adversely affect the interests of the HoldersHolders in any material respect, (ii) provide for Permitted Liens or Liens otherwise permitted under Section 3.6, (iii) add to the Collateral or (iviii) make any other change thereto that does not adversely affect the Holders in any material respect.