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Intercreditor Agreement Adequate Protection Waiver Clause

Book Publication Date: May 2014
Description: A secured creditor has the right to demand adequate protection in the form of additional or substitute collateral. In an intercreditor agreement, first lien lenders will want to prevent second lien lenders from seeking adequate protection by using a clause such as the one included here.
Type: Contract Clauses
PLI Item #: 135711
Practice Area: Banking and finance, Corporate finance, Financing

Keywords: "intercreditor agreement"; "lien subordination"; "first lien obligations"; "second lien obligations"; "first lien claimholders"; "second lien claimholders"; "revolving credit"; "debt cap"; "refinancing"; "amendment"; "restatement"; "maximum first priority lien amount"; "DIP financing"; "debtor in possession"; "adequate protection"

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