Second Lien Documents Clause Samples

The 'Second Lien Documents' clause defines and governs the set of agreements and instruments that establish and regulate a lender's rights to a secondary, or subordinate, security interest in a borrower's collateral. In practice, this clause specifies which documents are included as part of the second lien arrangement, such as the second lien credit agreement, security agreements, and any related intercreditor agreements. Its core function is to clearly delineate the rights and obligations of second lien lenders in relation to both the borrower and the first lien lenders, thereby reducing uncertainty and potential disputes over priority and enforcement of security interests.
Second Lien Documents. (i) Any “Event of Default” under any Second Lien Document shall occur or (ii) the holders of the Second Lien Debt shall accelerate the maturity of all or any part of the obligations under the Second Lien Documents or (iii) other than in accordance with the express terms of Section 7.04, an offer to prepay, redeem or repurchase all or any portion of the Second Lien Debt shall be required; or
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Second Lien Documents. (a) The Loan Parties have the corporate power and authority to incur the Second Lien Term Loans. The Second Lien Term Loans, when incurred, will be the legally valid and binding obligations of the Loan Parties, enforceable against the Loan Parties in accordance with their terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors' rights generally or by equitable principles relating to enforceability. (b) The Borrower has delivered to Administrative Agent complete and correct copies of the Second Lien Documents as in effect on the Amendment and Restatement Effective Date. Subject to the qualifications set forth therein, each of the representations and warranties given by any Loan Party in the Second Lien Credit Agreement and the Second Lien Documents is true and correct in all material respects as of the Amendment and Restatement Effective Date (or as of any earlier date to which such representation and warranty specifically relates).
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Second Lien Documents. As of the Closing Date, the Borrowing Agent has provided to the Agent true and complete copies of all of the Second Lien Note Documentation entered into as of such date.
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Second Lien Documents. As of the Amendment No. 12 Effective Date, the Borrowing Agent has provided to the Agent true and complete copies of all of the Second Lien Term Loan Documentation entered into as of such date.
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Second Lien Documents. Each Loan Party will not (a) amend, modify, restate or replace the Second Lien Documents as permitted by the terms of the Intercreditor Agreement or (b) prepay the outstanding loans under the Second Lien Credit Agreement at any time when an Event of Default has occurred and is continuing or at any time when, after giving effect to such prepayments, the Borrowing Base Utilization Percentage exceeds ninety percent (90%).
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Second Lien Documents. 51.2.1 Subject to Clause 51.2.2, prior to the First Lien Discharge Date, no Obligor or Second Lien Lender will modify, or permit any modification to be made to, any provision of any of the Second Lien Documents unless: (A) such modification is made in accordance with the Second Lien Credit Agreement and the relevant Second Lien Document to be modified; and (B) where Clause 51.2.2 applies, the Majority First Lien Lenders have consented to such modification. 51.2.2 Where any amendment, supplement or modification to the Second Lien Documents applicable under the Second Lien Credit Agreement would have any of the following effects: (A) to advance any date for repayment of principal or payment of interest or the making of any mandatory prepayment under the Second Lien Credit Agreement; (B) to increase the Margin or the utilisation fees applicable under the Second Lien Credit Agreement; (C) to change any Event of Default under the Second Lien Credit Agreement in a manner which the First Lien Facility Agent reasonably determines is adverse to the interest of any Obligor; (D) to grant any additional Security to the Second Lien Agent; or (E) to modify clause 8.1 (Illegality) or clause 8.3 (Mandatory prepayment) in a manner which permits or requires Prepayments to be made in circumstances that are not provided for under such clause as at the date of the Amendment Agreement; (F) to otherwise make any amendment to the Second Lien Credit Agreement which, in the reasonable opinion of the First Lien Facility Agent would have an adverse affect upon the rights of the First Lien Lenders against the Obligors under this Agreement or otherwise in connection with the transactions contemplated by this Agreement and the First Lien Finance Documents, then such amendment, supplement or modification shall not be made without the prior consent of the Majority First Lien Lenders.
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Second Lien Documents. There shall have been delivered to the Administrative Agent an executed copy of the Second Lien Documents to be entered into on the Closing Date.
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Second Lien Documents. The copy of the Second Lien Documents and all modifications and amendments thereto (if any) which have been delivered to Agent Bank are a true, correct and complete copy of the respective original thereof, as in effect on the Fifth Amendment Effective Date, and no amendments or modifications have been made to any such Second Lien Documents, except as otherwise reasonably approved in writing by Requisite Lenders. The Second Lien Documents have not been terminated and are in full force and effect. No Default or Event of Default under and as defined in the Second Lien Documents and the Borrower Consolidation has occurred and is continuing. This Credit Agreement, the Loan Documents, the Bank Facilities and all Obligations (including Swingline Loans and all other loans and advances hereunder from and after such Swingline Loans, loans and advances are made and including Letters of Credit from and after the date such Letters of Credit are issued) are permitted under the terms of the Second Lien Documents.” (ii) Section 5.08(e)
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Related to Second Lien Documents

  • Financing Documents The CAC Credit Facility Documents, the ▇▇▇▇▇ Fargo Warehouse Documents, the Fifth Third Warehouse Documents, the Flagstar Warehouse Documents, the BMO Warehouse Documents, the Credit Suisse Warehouse Documents, the 2018-3 Securitization Documents, the 2018-2 Securitization Documents, the 2018-1 Securitization Documents, the 2017-3 Securitization Documents, the 2017-2 Securitization Documents, the 2017-1 Securitization Documents, the 2016-3 Securitization Documents, the 2016-2 Securitization Documents, the 2016-1 Securitization Documents and the 2015-2 Securitization Documents.

  • Facility Documents The Facility Documents, duly executed by the parties thereto;

  • Credit Documents Administrative Agent shall have received sufficient copies of each Credit Document originally executed and delivered by each applicable Credit Party for each Lender.

  • ABL Intercreditor Agreement (a) Notwithstanding anything herein to the contrary, the Liens granted to the Administrative Agent under this Security Agreement and the exercise of the rights and remedies of the Administrative Agent hereunder and under any other Collateral Document are subject to the provisions of the ABL Intercreditor Agreement. In the event of any conflict between the terms of the ABL Intercreditor Agreement and this Security Agreement or any other Collateral Document, the terms of the ABL Intercreditor Agreement shall govern and control. (b) In accordance with the terms of the ABL Intercreditor Agreement, all Term Priority Collateral delivered to the First Lien Agent shall be held by the First Lien Agent as gratuitous bailee for the Administrative Agent and the Secured Parties solely for the purpose of perfecting the security interest granted under this Security Agreement. Notwithstanding anything herein to the contrary, prior to the Discharge of Term Obligations, to the extent any Grantor is required hereunder to deliver Term Priority Collateral to the Administrative Agent and is unable to do so as a result of having previously delivered such Term Priority Collateral to the First Lien Agent in accordance with the terms of the First Lien Loan Documents, such Grantor’s obligations hereunder with respect to such delivery shall be deemed satisfied by the delivery to the First Lien Agent, acting as gratuitous bailee of the Administrative Agent and the Secured Parties. (c) Furthermore, at all times prior to the Discharge of Term Obligations, the Administrative Agent is authorized by the parties hereto to effect transfers of Term Priority Collateral at any time in its possession (and any “control” or similar agreements with respect to Term Priority Collateral) to the First Lien Agent. (d) Notwithstanding anything to the contrary herein but subject to the ABL Intercreditor Agreement, in the event the First Lien Loan Documents provide for the grant of a security interest or pledge over the assets of any Grantor and such assets do not otherwise constitute Collateral under this Security Agreement or any other Loan Document, such Grantor shall (i) promptly grant a security interest in or pledge such assets to secure the Secured Obligations, (ii) promptly take any actions necessary to perfect such security interest or pledge to the extent set forth in the First Lien Loan Documents and (iii) take all other steps reasonably requested by the Administrative Agent in connection with the foregoing. (e) Nothing contained in the ABL Intercreditor Agreement shall be deemed to modify any of the provisions of this Security Agreement, which, as among the Grantors and the Administrative Agent shall remain in full force and effect in accordance with its terms.

  • Note Documents Receipt by the Purchasers of executed counterparts of this Agreement and the other Note Documents, each properly executed by a Responsible Officer of the signing Note Party and each other party to such Note Documents, in each case in form and substance satisfactory to the Purchasers.