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Intercreditor Agreement Power of Attorney Clause

Description: First lien lenders in intercreditor agreements will often retain power of attorney on behalf of the second line lenders using a clause such as the one included here. This allows them to sell collateral without objections from the second lien lenders.
Form Type: Clauses
Practice Area: Corporate & Securities

Date: May 2014
PLI Item #: 135707
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"; "power of attorney"
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