Skip to main content

Intercreditor Agreement Buyout Right Clause

Book Publication Date: May 2014
Description: Intercreditor agreements may provide a buyout right for the second lien lenders. That is, upon an event of default the second lien lenders may be given the option to buy the first lien debt prior to the first lien lenders foreclosing or seeking other remedies. A typical clause is provided here.
Type: Contract Clauses
PLI Item #: 135750
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"; "plan of reorganization"; "unsecured creditor"; "buyout right"

Thank you for exploring PLI PLUS.
The content on this page is only available to subscribers.

To learn more about PLI PLUS subscriptions
please click on the link below or contact us at