Priorities and Agreements With Respect to Collateral Clause Samples

The "Priorities and Agreements with Respect to Collateral" clause establishes the order in which parties have claims to collateral assets in the event of default or liquidation. It typically outlines which creditors or stakeholders have senior or subordinate rights to specific collateral, and may reference intercreditor agreements or subordination arrangements. For example, it can specify that a senior lender has first claim on pledged inventory, while a junior lender's rights are secondary. This clause is essential for clarifying the hierarchy of claims, reducing disputes among creditors, and ensuring all parties understand their position regarding the collateral.
Priorities and Agreements With Respect to Collateral 
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Related to Priorities and Agreements With Respect to Collateral

  • Priorities and Agreements With Respect to Shared Collateral Section 2.01.

  • Rights with respect to Collateral Each Secured Party agrees with all other Secured Parties and the Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Agent hereunder by a successor Agent, such successor Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent and the retiring Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Agent’s resignation or removal hereunder as Agent, the provisions of the Agreement including this Annex B shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent.

  • Other Agreements with Respect to Indemnification The provisions of this Section shall not affect any agreement among the Company and the Selling Shareholders with respect to indemnification.

  • Obligations with Respect to Loan Parties The obligations of the Borrower to direct or prohibit the taking of certain actions by the other Loan Parties as specified herein shall be absolute and not subject to any defense the Borrower may have that the Borrower does not control such Loan Parties.

  • Other Agreements with Respect to Indemnification and Contribution The provisions of this Section 10 hereof shall not affect any agreements among the Fund and the Manager with respect to indemnification of each other or contribution between themselves.