Common use of Related Swap Contracts Clause in Contracts

Related Swap Contracts. All obligations of Borrower under Related Swap Contracts to which any Lender or its Affiliates are a party shall be deemed to be Obligations, and each Lender or Affiliate of a Lender party to any such Related Swap Contract shall be deemed to be a Secured Party hereunder with respect to such Obligations; provided, however, that such obligations shall cease to be Obligations at such time, prior to the Discharge of All Obligations, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of this Guaranty by virtue of the provisions of this Section shall have, prior to the Discharge of All Obligations, any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Obligations (including the release or modification of any Obligations or security therefor) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Guaranty by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article IX of the Credit Agreement.

Related Swap Contracts. All obligations of Borrower each Grantor under or in respect of Related Swap Contracts to which any Lender or its Affiliates are is a party shall be deemed to be ObligationsSecured Obligations secured hereby, and each Lender or Affiliate of a Lender party to any such Related Swap Contract shall be deemed to be a Secured Party hereunder with respect to such Secured Obligations; provided, however, that such obligations shall cease to be Secured Obligations at such time, prior to the Discharge of All ObligationsFacility Termination Date, as such Person (or Affiliate of such Person) shall cease to be a “Lender” under the Credit Agreement. No Person who obtains the benefit of this Guaranty any Lien by virtue of the provisions of this Section shall have, prior to the Discharge of All Obligations, have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Obligations Collateral (including the release or modification impairment of any Obligations or security thereforCollateral) other than in its capacity as a Lender and only to the extent expressly provided in the Loan Documents. Each Secured Party not a party to the Credit Agreement who obtains the benefit of this Guaranty Security Agreement by virtue of the provisions of this Section shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, and that with respect to the actions and omissions of the Administrative Agent hereunder or otherwise relating hereto that do or may affect such Secured Party, the Administrative Agent and each of its Related Parties shall be entitled to all the rights, benefits and immunities conferred under Article IX of the Credit Agreement.